Invest in Iceland Agency participated as an exhibitor at the 2003 Business Continuity & Infrastructure Security Show and Conference in New York last week. The main purpose was to introduce Iceland as a cost-competitive location for Internet Data Centers. Iceland was presented as a good off shore location and the answer to companies need for a geographical diversity when securing data. Visitors found the concept very interesting and the Icelandic stand attracted a lot of attention.

deCODE genetics and IBM have announced a strategic alliance to deliver a set of integrated applications, technologies and services for analysing, managing and storing genetic, genealogical and clinical data. Under the three-year agreement, deCODE genetics and IBM will jointly market and sell deCODE's Clinical Genome Miner (CGM) Discovery" system running on IBM hardware and software.  The deCODE and IBM solution will be available globally to pharmaceutical biotechnology firms, government-sponsored research organizations, research hospitals and medical care facilities beginning midyear. The CGM Discovery - system is a proven, statistically-based application for isolating and analyzing genes and gene variations associated with particular diseases.  It is the same application that deCODE has used in its population genetics research in Iceland to isolate key genes and drug targets in nine common diseases. Headquartered in Reykjavik, Iceland, deCODE is using its unique population resources to identify the genetic causes of more than 50 common diseases. deCODE is applying its discoveries to develop new drugs and DNA-based diagnostics that target the underlying biology of disease, not just the signs and symptoms.  deCODE Genetics employees are around 500. More information at: www.decode.com

Iceland ranks fifth in information technology use according to the Global Information Technology Report 2002-2003: Readiness for the Networked World. The report, published by World Economic Forum, is the most comprehensive assessment of networked readiness, covering eighty-two of the leading economies of the world. The report provides a global panorama of how information and communication technologies are being used around the world. Iceland ranking (68 Kb) Networked Readiness Index rankings (78 Kb)

Iceland has a leading position within the OECD countries regarding contributions to research and development work according to estimates by the Research Council of Iceland for 2001. Iceland contributes over 3% of its GDP to R&D, which is among the highest within the OECD countries. The European Union decided in Lisbon in 2000 that all member countries should contribute 3% of GDP to research and development and that two- thirds of those contributions should come from private companies. This is meant to increase the importance of science and technology. Iceland was the third European Economic Area country to reach this target. In Iceland, new companies have been established in emerging areas such as biotechnology, information technology, health technology and pharmaceutical. Those companies have contributed to the expenditures leading to this share along with increased governmental contribution to R&D. Icelandic companies and institutions are working on research projects and trials with partners as Roche, Pharmacia, Merck, Novartis, AstraZeneca, Applied Biosystems, Affymetrix, Genmab, Bespak plc. and many more. Foreign companies have increasingly been funding research and investing in companies, both within the software development and bio-science field.