The dichotomy of opportunity in Iceland

• Main Author: Wandari Desi Rosidayati 1997-
• Other Authors: Háskóli Íslands
• Format: Thesis
• Language: English
• Published: 2021
• Subjects: Viðskiptafræði; Iceland
• Online Access: http://hdl.handle.net/1946/39885

Throughout history immigration has played an important role in the economic growth and prosperity of nations. While there are many benefits societies can receive from immigration, many economists claim that the greatest benefit is innovation. This leads to the research question: Has Iceland provided its immigrants with sufficient opportunity to innovate resulting in successful entrepreneurship? The motivation and resulting objective behind asking this research question is to identify ways to improve Icelandic society in such a way that entrepreneurship becomes more accessible to immigrants. This thesis provides an overview of how impactful immigrants are for a country's economy, especially by means of innovation and entrepreneurship, emphasizing the importance of the question above. The current situation of entrepreneurship in Iceland was assessed and evaluated to identify opportunities to improve and make entrepreneurship more accessible to the country’s immigrants. The assessment was done by analyzing various data and studies relating to the subjects of immigration, entrepreneurship, and economics, both in Iceland and neighboring countries. Key findings included a low percentage of research funding goes to immigrants, immigrants experience friction when trying to integrate with the school system and workforce, and immigrants having limited networks in Iceland. In short, it can be concluded that while Iceland has an impressive track record both in attracting immigrants and innovating, there is little innovation being done by immigrants themselves and many hurdles in the way of those who try. Thus, it is difficult to conclude that sufficient opportunity is being provided to immigrants to become successful entrepreneurs. This situation contrasts that of many neighboring countries and showcases that there is untapped potential for innovation within the immigrant population of Iceland but also a need for improvement amongst much of the processes and infrastructure that facilitate integration into Icelandic society.