Gulleggið is an entrepreneurial competition at the idea level that has been held by Icelandic Startups since 2008. Gulleggið is the largest competition of its kind in Iceland and over 200 business ideas are submitted annually. The golden egg was moved from autumn to January, and at the same time considerable changes were being made to the competition.
It is free to send an idea to the competition. Workshops for all participants will take place after registration is complete. A number of experienced entrepreneurs and experts will participate in the workshops, where the contestants will learn to shape the idea and create a so-called "pitch deck" or a short slide presentation that addresses all aspects of the idea.
Until now, there has been a requirement that one member of the team has attended university in the last five years or is actively studying, but this year it will be waived and the competition is therefore open to everyone for the first time.
Huld Magnúsdóttir, chairman of Icelandic Startups: "Since Gulleggið has proven to be an important first step for many entrepreneurs, it was decided to open the competition to more people and thus give as many people as possible the opportunity to use the assistance that Gulleggið provides."
It will continue to be strongly emphasized that this is an idea competition and that the contestants must not have received capital in excess of 2 million ISK or have started to have income from the idea.
Subsequently, the participants will be able to send their presentation to the competition and a multi-member jury will select the 10 best presentations. That group will then be invited back to a dynamic work weekend that will take place on the weekend of 29-30. January and after that, the contestants should be ready to stand on stage and sell their idea with confidence. The final competition took place in Gróska on February 4th and it was also broadcast live on Stöð 2 Vísi and on the website Golden Egg.
Ása María Þórhallsdóttir, Gullegg's project manager:We are excited about these changes and optimistic that this will increase the participation and visibility of the competition."
The Golden Egg is great for entrepreneurs who are taking their first steps and examples of companies that have participated in the Golden Egg are Controller, Meniga, Pay Analytics, Home and Solid Clouds. The prize is not from the worse end, Landsbankinn awarded the main prize of 1 million ISK and in addition there are a number of additional prizes. KPMG, Huawei and Security guard sponsor teams that competed on the final day.