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The Ministry of Industry and Innovation is the main top-level governmental authority responsible for youth employment and entrepreneurship. Other ministries also play a role in youth employment and innovation, such as the Ministry of Education and Culture and the Ministry of Industry and Innovation. National agencies such as the Administration of Occupational Safety and Health and the Directorate of Labour are also responsible for the wellbeing and status of young people in the labour market as described above. The Administration of Safety and Health is responsible for the inspection of health and safety standards in the work place and the Directorate of Labour is responsible for labour market initiatives which can benefit young people in search of employment.
Innovation Center Iceland is an institute which by law is subject to the Ministry of Industries and Innovation. According to the Act No. 75/2007 the Innovation Center Iceland is responsible for the advancement of innovation in Iceland by maintaining cooperation with non-public actors who support innovation and promote the ideas of small companies and the advancement of new business plans by research and development work.
Non-public actors also play an important role in ensuring that the Icelandic labour market is favourable to young people seeking employment and entrepreneurship. Many young people are members of trade unions who are responsible for collective agreements on behalf of their members and look after their interests. Icelandic Startupshelps start-ups grow domestically and internationally by accelerating their businesses and connecting them with industry experts, investors and international start-up hubs. Icelandic Startups also promotes entrepreneurs by helping them advance their network and develop their ides. Furthermore, it hosts the Golden Egg competitionwhich provides a platform for young entrepreneurs to get their ideas out there and is a helpful venue for their development. Contestants are offered to attend courses and receive consultation and assistance from industry experts to develop their ideas and communicate with potential investors.
In general, ministries at the top-level of government are responsible for policy making in the field of employment and entrepreneurship. The two ministries most involved with policy making in these fields are the Ministry of Welfare and the Ministry of Industry and Innovation. Various public and non-public actors influence policy making to varying degrees.
There are no specific rules outlining cross-sectoral cooperation. Ministries often consult with other public and non-public bodies when it comes to policy-making.