Think your el­e­va­tor pitch is ready? Try mak­ing it from an ice hole

Bloomberg Businessweek (Asia) - - CONTENTS - ——Pho­to­graphs by Aapo Huhta

Proof that en­trepreneurs will do al­most any­thing for fund­ing: In early Fe­bru­ary, rep­re­sen­ta­tives of 20 star­tups from around the world trav­eled to Fin­land as fi­nal­ists in Po­lar Bear Pitch­ing, one of two an­nual com­pe­ti­tions run by Mid­night Pitch Fest, a non­profit event or­ga­nizer. Each fi­nal­ist jumped into an ice hole and, sub­merged in frigid wa­ter, pre­sented to a jury of po­ten­tial in­vestors. “My adrenaline was run­ning so high, I to­tally for­got the icy wa­ter,” says Tuija Kaup­pinen of health-food com­pany Arc­tic War­riors. Nor­way’s Flow­Mo­tion Tech­nolo­gies won the €10,000 ($11,000) top prize for its GoPro sta­bi­lizer.

1. ① The “J-Bear”—the word for po­lar bear in Fin­nish is “jääkarhu”—is the event mas­cot

② Among the spectators were for­mer en­gi­neers at Nokia, whose mo­bile phone divi­sion once called Oulu home 2.

3. ③ Charles Adams Jr., U.S. am­bas­sador to Fin­land, joined Canada’s am­bas­sador (not pic­tured) to open the show

5. ⑤ Kaup­pinen spent more than two min­utes in the wa­ter for her pitch

4. ④ Omodara Gbotemi of Fine­ria En­ergy, which de­signed a sus­tain­able gen­er­a­tor

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