We had an idea but we knew we had to verify it and what better way to verify a brand-new business idea than participate in a startup competition?

Gulleggid (the Golden Egg) is Iceland’s largest startup competition run by the non-profit organisation Klak - Icelandic Startups. It has several hundred entries each year and winning the competition is a huge honour and opens many doors in Iceland.  

This year they tightened the submission guidelines by asking for a one-minute video pitch in addition to a comprehensive pitch deck. Still, there were almost 200 entries for the competition.

When we made it into the top 10 we started to have hope to win the whole competition. The top 10 companies were invited into a 10-day accelerator where we got advice on how to improve our pitch deck and our presentation.

The excitement on the final day was huge. We heard one team after the other get prizes and we didn’t receive any of the prizes. And then they announced the winner: Sea Growth! 

Winning Gulleggid (the Golden Egg) confirmed that we had a great idea and gave us the boost to take our idea to the next stage.