Run­ning a start­up is chal­leng­ing but also very re­ward­ing

To work in a startup, let alone found one, requires passion and enthusiasm for your projects

It also helps to get along well with your colleagues, be ready to put in significant effort, and work long hours. All of this can test your limits - but when things go well, few things are more rewarding.

Well-attended event

This was among the points highlighted at a well-attended Arion Bank event during Iceland Innovation Week on May 14th, titled "How to Become Bankable." The focus was particularly on how startups can take their operations to the next level and become "bankable," which involves earning creditworthiness with banks and financial institutions so they no longer need to rely on grants and investor funding.

Jarþrúður Ásmundsdóttir, account manager at Arion Bank, described the bank's enjoyable collaboration with various startup companies over the years and the main products the bank offers that suit these companies, as the bank has supported innovation across numerous industries for years.

Next, Helga Sigurrós Valgeirsdóttir, department head in Arion Bank's corporate and investment banking division, moderated a lively panel discussion with participants from various backgrounds: Ívar Kristjánsson from 1939 Games, Berglind Rán Ólafsdóttir from Orf Genetics, and Helgi Már Hrafnkelsson from Venja traced their companies' histories and described various funding challenges, while Helga Valfells from Crowberry Capital explained how she finds exciting investment opportunities, with Crowberry Capital currently investing in more than forty companies. The company representatives also discussed the importance of growth companies maintaining good relationships with their bank and knowing the people there - and that the bank should have insight into their operations and understand their main challenges.

After the panel, attendees had the opportunity to network and enjoy refreshments in exceptionally pleasant weather.