‘Youth’ might be the theme of this weeks episode. With two entrepreneurs under the age 25 years in the Tank the enthusiasm was infectious. I love the innovation that we were presented with. Some simple ideas to everyday problems. Really great to see the entrepreneurs protecting their ideas through patents – but as a note to would be pitches, much better to outline a rosy (yet realistic) view of the future for investors – rather than mentioning the litigation word. I wish I could have bottled the energy of the young entrepreneurs – now that would make a fantastic and invest-able product.
Grown sustainable wooden eyewear – Jeff from Byron Bay with wooden glasses – Canadian originally – determined to create an enterprise based on the principles of conscious capitalism. I’m an ambassador for Concious Capitalism in Australia – which I don’t believe he knew when he mentioned the words. Jeff wore shorts and flip flops, instantly likeable and clearly able to take us on a journey – telling a vivid tale and bringing us in to his world. This is a wonderful story about #AussieInnovation. Jeff lives in rural Australia but that is an advantage for him having global opportunities. In fact it may well give him a competitive advantage of keeping his overheads low.
Richgurl.com – Energy and passion in spades. Using an affiliate stream to promote retailer online sales. There was much discussion on the brand… as well as the sustainability of the model. This might me her first businesses but there may be many more in Stephanie’s future. As promised she joined us for a day at RedBalloon – being with the CEO, the marketing team and watching the development team in action. Once she sorts out the cost of aquiring customers issue she will be on her entrepreneurial growth story.
Digital Keys – A fantastic invention where by hotel rooms can use near technology for the keys to doors . This seemed like an absolute winner – big market, big potential – a patent in place. Until the founder mentioned that a competitor had pitched a similar concept in the US – but his patent was put in a month after this one – that meant the word litigation popped into the conversation – argh!! Not an exciting word for potential investors.
La Mule – Is a hitchhiking app that allows people with a car to offer a ride to travelers.I’m a believer in collaborative consumption. Car pooling for long haul trips. Oliver was young and energetic with a great passion for what he does… also he was completely fun in his approach….. however sometime we see danger and regulation when you have been around for a while. Technology could solve this problem for him. No paying customers yet – I look forward to seeing how he get’s his model working. He has also done a good job on surrounding himself with entrepreneurial mentors. Again I would have loved to bottle his enthusiasm.
See you next week…
Shark Tank S1 Episode Ten on TEN
