On May 30th, the fifth annual Startup Iceland conference takes place in Harpa. This year’s roster of speakers includes entrepreneur and investor Ingrid Vanderveldt; Mark Solon and Jenny Fielding, both managing partners at TechStars; and Arvind Gupta, Investment Partner at SOS Ventures.

Bala Kamallakharan, founder of Startup Iceland

Bala Kamallakharan, founder of Startup Iceland

There are many conferences in the startup world these days, and attending too many takes focus and effort from entrepreneurs, that could be used building or selling a product. However, conferences can be a great place to expand your network and get some inspiration, but it is important to use your time wisely. That’s why Norðurskautið and the Startup Iceland team bring you a short and handy guide on how to get the most out of Startup Iceland.

Be open to inspiration

While building a company, everyone has their highs and lows. “It’s hard work, and everyone can do with some inspiration,” says Bala Kamallakharan, founder of Startup Iceland. Many of the speakers have gone through incredible journeys to get to where they are now, and hearing those stories can be a great motivator.

Connect with mentors

All speakers who participate in Startup Iceland also act as mentors the next day in a 20 minute one-on-one session with entrepreneurs. “We encourage founders to buy their tickets early because if we have a tie break on the slot for mentoring whoever bought the ticket early wins,” Bala tells us. The mentors all have experience and networks and can help you and your company. Some tips from Bala on how to prep for a one-on-one:

  • Do your homework on the pitch: Be able to clearly articulate your business in a quick and precise manner (you only have 20 minutes, remember).
  • Do your homework on the mentor: Read about the mentors to both help you pick which one you want to meet, and to understand how she may help. What are her areas of expertise? What kind of network does she have? Know as much as you can about the mentor.
  • Know what you want: Prepare questions and topics and know what you want to get out of the meet. Are you looking for an investor? Tell her that, and ask for feedback and guidance in that area. Need help promoting your product? Approach the mentor with questions on promotion

Connect with the community

Conferences bring people together, and Startup Iceland brings a big chunk of Iceland’s startup community to one place. Use it to get validation on what you’re building, sourcing possible customers or colleagues, or talking to potential investors. “Every startup that I have been part of got a break after participating in Startup Iceland,” Bala says. “No one knows what that is going to be but there is only one way to find out: Make it a habit to be there.”

Learn from others

A smart entrepreneur learns from her mistakes, a wise entrepreneur learns from others mistakes,” Bala says. A conference like Startup Iceland has speakers discussing strategy, operations, product and more. Make notes on what challenges you currently face, and try to spot if the speakers discuss them. That can also help when deciding what to discuss with a mentor.

More info on Startup Iceland on their website. Book tickets here.