Iceland has partnered with innovation specialist and investor L Marks to launch the Iceland Innovation Lab, tasked with supporting startup businesses in the retail sector through partnership and investment.

The lab will help startup firms validate their business ideas with Iceland over the course of a nine-week partnership development programme. Senior members of the Iceland leadership and subject-matter experts across the sector will be on hand to provide mentorship, while participants will also have access to the retailer’s scale and network.

Iceland has outlined key areas which they are particularly interested in innovating through the categories set out on its website:

• Seamless customer experience, particularly in identifying tools that enable better data insights to create personalised experiences;
• In-store processes, that will allow the retailer to communicate more efficiently with its employees;
• Sustainability, to help maintain industry leadership in building an eco-friendly supply chain; and
• Wildcard, enabling startups to suggest how they might help Iceland to innovate in an area they have not thought of yet.

Daniel Saunders, L Marks chief executive, said: “We are looking forward to uncovering the most recent exciting startups from around the world, particularly those in the area of sustainability.

“Addressing the use of plastics is of crucial importance and Iceland is leading the way in their pioneering work to the eliminate plastics in their packaging.”

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