KOCHI: Kerala Startup Mission (KSUM) has partnered with Business Finland, a Finnish government organisation for innovation funding and trade, travel and investment promotion, for the upcoming satellite event in India, Polar Bear pitching.

In India, the initial agreement is to hold the event at the Finnish Embassy in Delhi. The event is commonly known as the Ice Hole Competition in Finland.

KSUM will sign an agreement with the Business Finland and the event’s organisers, Business Oulu Group.

This is the first time India is hosting a regional round of Polar Bear, where startup ideas are pitched to judges by presenters standing neck-deep in cold water. KSUM will select eight to ten startups to participate in the program.

KSUM CEO Anoop Ambika pointed out that the opportunity to participate in the prestigious international competition is proof that Kerala has the most important startup ecosystem in the country.

“This kind of international collaboration will give startups from Kerala more attention and global acceptance,” he added.

The winners will have the opportunity to participate in the finale in Oulu, Finland on February.

Although the event is held on ice in Finland, the MoU reveals exemptions for the competitions in India. Pitching must be done by standing at least halfway down the ice in cold water. One should not wear neoprene, wet suits or scuba-diving suits required for entering the water.

Founders can wear any other clothing. The startup founders themselves must conduct medical examinations and other preparations before entering the cold water.

For participation, startups must have at least one working model, which must be submitted for various tests. With at least two founders, the startups must be in the pre-seed or early stage to become eligible for pitching.

Startups that have already received significant funding will not be considered.