Iceland Ocean Cluster

Interview: Iceland Ocean Cluster

Iceland Ocean ClusterInterview date: 21 July

Interviewed by: Frantisek



Iceland Ocean Cluster started as a project at the University of Iceland but is now company which facilitates networking opportunities for ocean related industries in Iceland and worldwide. Its partners consist of leaders in well established, as well as cutting edge firms in ocean related industries. The Iceland Ocean Cluster is now located by the harbor at the Iceland Ocean Cluster House at Grandagardur 16, 101 Reykjavík along with 40 other companies working in the marine industry. (Source from


Research Questionnaire

Name: Thor Sigfusson

Email address: thor [at]

Phone number: +345 5776200

Your title in the company: Co-Founder and CEO

Company Name: Iceland Ocean Cluster /

Industry: Marine Cluster

Company years in operation: 2011

Type of company: Private Limited companies (“Einkahlutafélag” (ehf)

How many employees does your company have: 7

Annual turnover: 2013: ISK 80 million

Description of company: Cluster management in marine related fields

Company Mission: Increase value in seafood

Description of social / environmental mission: Promoting full utilization of seafood and limiting food waste of valuable products

Would you call yourself a social entrepreneur or social enterprise? No

How do you interpret the concept of social enterprises? “It has no strong meaning in my mind. All companies are social enterprises, created to increase value.”


Questions related to the definition

Does your company have a clear social and/or environmental mission set out in their governing documents? We have a mission to increase sustainability in seafood and ocean tech industries.

Does your company generate the majority of their income through trade? (51% and above). If not, how much? Yes, 90%

Does your company reinvest the majority of its profits back into the social and/or environmental mission? (51% and above), if not, how much? Yes

Is your company autonomous of state? Yes

Is your company majority controlled in the interests of the social and or environmental mission? Yes, we create value for our customers and are environmentally conscious regarding our work and the work of our customers. We strive to get more young people in the industry by offering summer internships, providing lectures in primary schools and overall promote further education in the marine industry.

Is your company accountable and transparent? (Transparency – corporate actions are observable by outsiders) Yes

Who are you clients / focus group? Marine companies

What KPI’s (key performance indicators) or measurement tools, if any, do you use to access if you are meeting your social impact according to your mission? (E.g. Number of users, number of engaged users. Etc.) None

As per 23, what type of social impact have you created through your products/services (e.g. assisted 1,000 people access to health care they won’t have otherwise). New jobs in fully utilising seafood – more understanding about opportunities in full utilisation


Social enterprise sector

If a social enterprise umbrella body were formed, would you be interested to know more about it and possibly join as a member? Most likely

What support do you personally need from such an umbrella body and/or what support do you think the social enterprise sector requires? N/A

How would you like to see social enterprise develop in Iceland?N/A

If none, can you recommend a company (NGO) that you may know of that has a social and/or environmental mission? N/A


Note: Social Enterprise Iceland does not in any way imply that the interviewed company is a social enterprise. The definition for social enterprise in Iceland is still work in progress through these research interviews. The purpose of sharing these interviews with the public is in alignment with our values of transparency as we share our process of discovery with those who are interested.


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