Affineva Wins the competition Gulleggið 2026 and Lavashow Receives the Honorary Award

The final competion of Gulleggið 2026, the largest and oldest startup competion in Iceland, took place in Gróska on the 26nd of February. Ten ambitious startup teams presented their ideas to a packed audience and a judging panel composed of representatives from the competition’s sponsors, including the New Business Venture Fund Kría. Valdimar Halldórsson, Investment Manager at the fund, served on the jury.

The competition is organized by KLAK – Icelandic Startups and, since 2008, has been an important launching platform for entrepreneurs with early-stage ideas. Many startups that have since achieved significant success in domestic and international markets took their first steps on the Gulleggið stage.

This year, a diverse group of teams participated, spanning everything from biotechnology and sustainable energy to digital solutions and new ways of utilizing data, technology, and Icelandic natural resources. Competition was therefore strong.

Landsbankinn, the main sponsor of Gulleggið, awarded substantial cash prizes to the top three teams in the final:

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• 1st place: 2,000,000 ISK was awarded to the team Affineva. Their idea focuses on developing specialized biotech solutions for the diagnosis and treatment of diseases.
• 2nd place: 1,000,000 ISK was awarded to the team IORDEN for a solution that uses artificial intelligence and automation to simplify and improve quality control for smaller food producers.
• 3rd place: 500,000 ISK was awarded to the team Norrstone for a digital ecosystem for jewelry — a solution based on blockchain-powered digital jewelry certificates that make certification, insurance, loyalty programs, and resale easier.

Gulleggið Honorary Award 2026 to Lavashow

The Gulleggið Honorary Award 2026 was presented by Hrönn Greipsdóttir, CEO of the New Busienss Venture Fund Kría, and awarded to the company Lavashow. The idea behind the company was among the ten ideas competing in Gulleggið in 2016. In recent years, Lavashow has attracted significant attention for transforming natural forces into a unique experience for guests, building a strong brand, and creating value in both tourism and creative industries.

The honorary award recognizes the extensive entrepreneurial work, perseverance, and courage required to build a company like Lavashow.

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Additional Awards

In addition to cash prizes, Gulleggið teams compete for various special awards provided by sponsors and partners. These awards include specialized advisory services, facilities, and mentorship to help teams take the next steps in developing their ideas.

Frumukjarninn – Gulleggið Biotechnology Award 2026

• The Frumukjarninn award was won by Affineva. Alvotech and Fruman presented the award for the best biotech idea in the competition. The prize included a 300,000 ISK development grant, a three-month development and testing opportunity at Fruman, access to research facilities, expert mentorship in biotechnology, and a custom-designed trophy from Héðinn.

KPMG – Expert Advisory for the Next Steps

• KPMG awarded one team 20 hours of advisory services to support business planning, investor presentations, company formation, tax matters, and other key steps in building a startup. The KPMG award went to E-Lísa.

Gróska | Heimar – Facilities in the Heart of Innovation

• Gróska | Heimar awarded one team access to facilities at Gróska, one of Iceland’s most dynamic innovation hubs, enabling the team to develop its idea in close proximity to other startups and investors. This award was given to Affineva.

Origo – Advisory from Experts in Sales, Marketing, and Digital Solutions

• Origo awarded the most popular team—voted by guests and viewers—with advisory services from the company’s specialists, including in sales, marketing, and digital solution development. The Origo Popular Choice Award went to Deadgroove Games.

Young Entrepreneurs– Junior Achievement Iceland – International Opportunity in Riga

• Young Entrepreneurs – Junior Achievement Iceland awarded one university team the opportunity to participate in the GEN-E innovation competition in Riga, Latvia, where the team will meet international peers and investors and test its idea on a larger stage. The award went to IORDEN.

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Innovation That Brings Ideas from the Stage into Society

Gulleggið is open to anyone with an idea who wants to explore innovation, regardless of background or experience. Participants receive education, mentorship, and the opportunity to test their ideas in a challenging environment focused on rapid learning, continued development, and connection to a strong ecosystem of entrepreneurs, investors, and experts.

“The teams in this year’s Gulleggið once again demonstrate how diverse and powerful innovation in Iceland truly is. These entrepreneurs are solving real problems, creating new value, and contributing to a more sustainable future,” says Anna Schalk Sóleyjardóttir, Project Manager of Gulleggið. “We are especially grateful to Gulleggið’s sponsors who enable us to continue supporting teams—not only with financial awards but also with meaningful involvement in their journey.”

With the conclusion of the Gulleggið 2026 final, another successful competition has come to an end. For many teams, however, this is only the first step. In the coming months, they will continue developing their ideas—with support from the network built by Gulleggið, KLAK, and the competition’s sponsors.

More information about Gulleggið and participation:  Gulleggid.is

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