Nov 19, 2014 Stefanie Sirén
Already early on Tuesday morning the pitching competition drew a good crowd to the Yellow Stage. Companies from 22 different countries and from a wide array of fields got the chance to show why they would be worthy of the €250 000 investment.
The startup companies faced an intense challenge, especially when the pitching competition was scaled down to bare essence – 3 minutes of pitching, no slides, no gimmicks. Although some did bend the rules by for example bringing iPads on stage or play the drums.
“The level is very good and high, but you can see that they are not used to pitching without slides – it can be difficult to know where the core of the innovation is,” a jury member commented after the second batch of competing startups were completed.
When the companies had used their three minutes of pitching, the judges got their say. During a one minute Q&A the startups were grilled with questions about issues such as how they plan to set up their the go-to-market strategy, what the revenue looks like and how well they know their competition.
From five different batches, four startups were selected from each group to go to the semi-final tomorrow morning. During only a few intensive minutes the jury had to select from a variety of companies who were worthy of going forward in the competition.
“They were democratic decisions, we sat down and discussed together. All jury members had their own areas of specialty, and others liked certain concepts, but we wanted to take companies from different areas. It’s important that the startups have an impact”, says Kim Groop, managing partner at KG Ventures, and jury member for the startup group Life Sciences, Health and Wellbeing.
Practice makes perfect
IroFit is one of the companies that were selected to continue from the second Software and services batch. They are a Nigerian company specializing in real-time card payments using GSM-networks.
CEO Omoniyi Olawale has had the change to polish his pitch at the Arctic 15, in Nigeria and the US. According to Olawale the most difficult part was to scale down what he wanted to say into 3 minutes.
Now the main challenge is to sharpen the presentation into a 5 minute pitch, with slides, for the semi-finals on Wednesday morning.
“We have to tweak our pitch. I think we have to hone in the selling points, the traction and the market size,” ponders Olawale and gets agreeing nods from co-founder Olusola Folorunso.
Even if IroFit will fall short from the the prize money, Olawale and Folorunso are already happy with their achievement.
“This is a good opportunity to meet partners and potential customers. It gives us a lot of exposure and the possibility to meet strategic investors and business angels”, concludes CEO Olawale.
The 20 startup companies that were selected for the semi-final on Wednesday:
Follow the semifinal of the Slush 100 pitching competition on the Black Stage on Wednesday starting at 10 o’clock and the final at 16.45 on the Silver stage!
Earlier this month, Swedish digital health app KRY announced they had raised €53M ($66M) in series B funding, led by Index Ventures. This brings their total funding since 2014 to approximately €79 million ($92 million). Thus, we’re excited to announce KRY’s CEO and co-founder Johannes Schildt as a speaker at Slush 2018! KRY is in […]
With only a little time left to secure your ticket at the discounted price, we thought that it’d be a perfect time to invite you to have a sneak peek of some of the first pictures of how Slush 2018 will look and feel like. The event will be organized once again at the Helsinki Exhibition […]
The countdown has begun! Today, 5th of June, is the mark of only 101 days left until Slush Singapore 2018 will open its doors to the tech-heads of Southeast Asia and beyond. To celebrate this occasion, we’ve just opened our ticket sales! Why 101, you might ask. The number has been an important part of […]
Not first without the second! It’s time to reveal a little more of what to expect from Slush this year. We’re delighted to introduce you to our speakers Preethi Kasireddy, Maximilian Tayenthal and Sonali De Rycker. Preethi Kasireddy, Founder and CEO of TruStory Preethi recently launched her new startup, TruStory. It’s a platform aiming to […]
We’ve been itching to announce our first speakers for Slush 2018. Finally, the time has come! Our first batch consists of three founders who will share their stories on Founder Stage this December. Here’s a bit on each of them! Joel Flory – Co-founder & CEO of VSCO As the co-founder and CEO of VSCO, […]
Helsinki-based Yousician, the world’s leading music education company, has been on an almost decade long journey of learning about gamifying, community building, and of course, learning new instruments. CEO and co-founder Chris Thür has been leading the charge towards the company’s goal of making musicality as common as literacy, and overseen lots of change in […]
Slush 2018 ticket sales began today, kick-starting our countdown for the 11th Slush in Helsinki this December. This year’s theme takes a cue from our mission to enable more meaningful meetings at the event and throughout the Slush year. Slush CEO Andreas Saari gives teasers on what you can expect. You might have noticed that […]
Christof Wittig, CEO of Hornet, one of the largest gay social networks in the world, talked to us about the recently-launched not-for-profit LGBT Foundation and its mission to utilize the potential of blockchain technology in order to support and protect the global LGBT+ community. You’ve probably heard the term “pink money” being thrown around. These […]
Finland continues as the top dog in the charts in European venture capital investments in startups and early stage growth companies as percentage of GDP between the years 2013 and 2017. Finland takes first place in European venture capital investments when looking at the data from the past five years and investments in proportion to […]
We collect cookies to make your experience here smoother.
Sign up to our newsletter. We inform you about this and that every once in a while.