NOKIA, Finland—The "elevator pitch" concept is being given a horizontal makeover, thanks to Nokian Tyres P.L.C.
The Finnish tire maker is challenging startups, businesses, students and academics to pitch innovative ideas for more sustainable tires—as long as they can do it in the time it takes a Nokian test driver to navigate one lap on a circuit at the company's Ivalo, Finland, tire testing center, better known as "White Hell."
The individual making the winning pitch will receive a prize of 10,000 euros ($11,750 at prevailing exchange rates) and have the chance to collaborate with the Nokian Tyres research and development experts to craft his or her idea into reality, Nokian said.
The process to get there is known as the "Fast Race/Big Change" challenge and is tied to Nokian Tyres' sustainability goal of ensuring that half of the raw materials its uses in tire manufacturing are recycled or renewable, with CO2 emissions from production cut by 50 percent.