What is in a pitching competition and why should you care? Since we started doing ours at Arctic15, we realised that it is not just about the money.
Sure, you will receive €50 000 investment from FIBAN in ours, for which the deadline is today and you can apply here.
Editor’s note: extended due to yesterdays holiday and a little confusion we caused with the original deadline.
However, except the money, it does a few very important things.
First: it makes you think more clearly about your business.
We have seen throughout the years that once you start participating in pitching competitions, you start caring about your pitch deck a lot more and as a result, you spend a lot more time on thinking about your business.
What is the market size? Is it actually big enough? What kind of questions will the jury ask? Do I have the answers?
It makes you think and this is important because it does not matter if you win or not, but it does improve your chances of success.
Second: It provides exposure.
When it comes to media, there isn’t that many reasons for anyone to write about your product unless you are already successful.
Winning a pitching competition at an early stage can give you that very much needed exposure boost. We will definitely be publishing articles about our winners and also providing our PR services to them. Don’t forget to apply.
This can lead to new clients, new investors or even colleagues.
Third: Investors pay attention to pitching competitions at events.
It is a quick way to see a range of startups and make an initial assessment of who they should talk to.
Winning one, therefore gives you a chance to start discussions with a lot of potential investors.
Fourth: Experience and advice.
Usually, during the pitch – you receive advice from the judges and also access to them.
Use this wisely and ask for advice after your pitch. Often – it is a great way to get access to mountains of experience for free.
Fifth: The Money.
Finally – the money. Last year, the finalist received a €50 000 investment, but closed the final round at €250 000.
In total, our previous finalists raised over €120 million and have two exits under their belt.
Money matters and getting the initial commitment of €50 000 can really get your round going.
For those of you who simply want to come to the event, today – the prices are going up, so it’s a good day to get your tickets for the event.