The Department covers Innovation and Industrial Affairs and has the role to promote the competitiveness of the Icelandic industrial and service sectors by improving microeconomic conditions. The Department’s activities aim to diversify the industrial sector, increase production and exports, and build a sound foundation for the creation of new knowledge-based jobs, economic growth and social well-being. Technology diffusion initiatives are among the key elements of the Ministry’s Innovation Policy. The objective of these initiatives is to encourage broader economic returns from technology in terms of productivity and the creation of new jobs. For this purpose Innovation Center Iceland is a leading R&D and business support institute in Iceland. It‘s mission is to increase innovation, productivity and competitiveness of Icelandic business by doing innovative technology research, diffusing knowledge and giving support to entrepreneurs and start-up companies.