What is Gulleggið?


number of business ideas that have gone through the program



companies Founded after participation



companies still operating



full-time equivalent units today



Gulleggið is a business plan competition run by Icelandic Startups for entrepreneurs to get their business ideas noticed. It is an excellent platform to make business- and execution plans for your business idea and step forward in transforming your idea to a real start-up. Participants are offered workshops, lectures, advice and assistance from experts throughout the process. After the three workshops participants submit their fully developed business plan to a group of judges.

The winner of the competition wins Gulleggið's trophy and 1.500.000 ISK. Teams have also the option of winning in four categories: Green, Health, Product and Digital. Those extra prices are provided by our sponsors so the estimated prize pool of Gulleggið is over 3.000.000 ISK.

Before September 11th you only need to submit a short description of your idea.

Timeline of Gulleggið - English.png


Gulleggið hosts 2 long workshops where participants learn the basics in founding a company and building a business model. The lectures in the workshops are in Icelandic.


Who can participate?

Everyone has participation rights to Gulleggið. Individuals from all ages, from groups of individuals to working companies. Established businesses can participate as long as their yearly income, investment or funding has not hit the 5 million ISK limit.

There is also a possibility to register without an idea, and get to join an existing team.

How much is the participation fee?

There is no participation fee.

Where do I register for the workshops?

After the 11th of September (the deadline) we will send out an email, to all participants, where you can register to a workshop.

Participants can choose from the workshops that are offered, they will be two in total. Participants are encouraged to attend the workshops because only there, they will get information and knowledge that will help them to establish a business and get the assistance on how to conduct a proper one pager of the business idea.

How long can the explanation of a business concept be?

Before the 11th of September, you only need to send in a short description on one page about the business concept.

Few things that are good to have:

  • Summary of the business concept

  • Argument about the market, market advantage, and the novelty of the concept

  • A description of the team behind the business concept

NB: There will not be a special grade for the summary or the concepts that are submitted. Only those that will be submitted during Gulleggið. 

Is my business concept safe in your hands?

All submitted business concepts of Gulleggið will be treated as confidential. All those who handle the business concepts of participants are to sign a confidentiality agreement and are forbidden to provide any information regarding the business plans to a third party, or take advantage of what is written in the business plans.

Do note that Gulleggið does not claim any ideas from the participants nor does Gulleggið acquire shares from any established company that goes through Gulleggið.

Language of the competition?

The competition language and language during workshops will be in Icelandic. Although it is permitted to submit the business concept in English. 

Further questions?

For further questions and information, please contact