The first prize in Gulleggin increases to ISK 2,000,000.

Gulleggið, Iceland's largest entrepreneurial competition, has been held by KLAK-Icelandic Startups since 2008, and since the beginning Landsbankinn has been the main sponsor of the competition. Now Landsbankinn has decided to further increase and double the prize money.

The three highest-scoring Gullegg teams each year receive cash prizes from Landsbankinn. The prize money has proved to be an important lever for the winning teams and supported the progress of their ideas. Many successful companies in the Icelandic economy have started as an idea in Gulleggin, such as Taktikal, Pay Analytics, Heima app and Controlant.

Now KLAK has agreed with Landsbankinn to further increase its support and double the prize money that Gullegg's top-scoring ideas will receive in 2025. Thus, the winning idea will receive two million ISK as a prize, the idea that ends up in second place will receive one million ISK and the one that is rejected in third seat receives a salary of 500,000 ISK. It is therefore safe to say that there is a lot to be done in Gulleggin 2025!

 "We at Landsbankin are proud to have supported Gulleggið from the very beginning. The competition has been an important platform for entrepreneurs to develop and promote their ideas, and we look forward to seeing more great ideas become reality," says Sara Pálsdóttir, Director of Communications and Culture at Landsbankin.

"The journey of entrepreneurs from an idea to a powerful operation is full of challenges. Support in the early stages of that journey can make a difference and multiply the chances of an idea developing into a thriving business. Landsbankinn understands this well and has been a staunch sponsor of the Gullegg since the competition was founded 16 years ago. We are very grateful to the bank for that," says Ásta Sóllilja Guðmundsdóttir, managing director of KLAK -Icelandic Startups. 

Gulleggið is an entrepreneurial competition that is held at the beginning of each year and is specially designed for innovation at the idea level. The competition is open to everyone, both idea creators and people interested in innovation who want to express themselves. Gulleggið begins in January with an Idea Race for university students and a Masterclass course afterwards, where the goal is to develop an idea and create a presentation of it. Ten teams are then selected for the Gullegg's final competition, which will take place in Gróska's festival hall on February 14, 2025. Applications were opened today.