Many small business owners are familiar with the difficulties of securing investment, but this pitching event might take the prize for the most challenging way to get some cash.
Polar Bear Pitching is an annual event held in the city of Oulu, Finland, home to what some claim is the world’s northernmost tech hub. It attracts many of the world’s major investment firms to scope out some of the year’s most exciting startups.
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Frozen Baltic Sea
But there’s a catch. Polar Bear Pitching is unique in that there is no time limit for pitches – but business owners must make their case while part submerged in freezing water, in an ‘ice hole’ carved into the frozen Baltic Sea.
Speaking to TechCrunch, Peter Vesterbacka of Rovio, maker of Angry Birds, said of the event: “It’s cool, dark, and there’s slush on the ground – so not exactly Silicon Valley. There’s no point in mimicking what other countries are doing. With events like Polar Bear Pitching, Finland can distinguish itself.”
Firms including hygiene startup Satu Laboratory, car sharing app Faraday, and fashion recommendation platform Looks Good On Me have already secured places in the final pitching event, and applications are still open.
The winner will secure a €10,000 prize, a two-week visit to Silicon Valley, and the chance of investment from venture capital firm Catapult.
Interested? You can apply for Polar Bear Pitching here.
Would you dunk yourself in freezing water for the chance to secure investment? Let us know in the comments.