>> I welcome everyone to Shark Tank.
Tonight, hopeful student entrepreneurs get a once in a lifetime chance,
to pitch the sharks in hope of getting an investment,
to start, grow, or save their business.
The entrepreneurs must convince the sharks to invest in their business,
or they might walk away with nothing.
If the sharks here a great idea,
they're ready to invest.
Who are the sharks? Let's meet them.
They're self-made investors who are entrepreneurs themselves.
Amy Rees Anderson; she's the founder and managing partner of REESCapital,
an angel investing firm.
Amy is also an author and serves as a weekly contributor to Forbes,
and the Huffing-ton Post.
Prior to the foundry, REESCapital,
Amy was the CEO of MediConnect Global,
one of the largest health information exchanges in the country.
Under Amy's leadership, MediConnect grew
over 1500 percent and she sold the company in 2012,
to Verisk Analytics for over 377 million.
Amy also founded the iPod Foundation,
a charity focused on helping,
educate, and mentor entrepreneurs.
She currently serves on over 15 boards for universities,
governments, hospitals, and several non-profit organizations.
Amy has been the recipient of a number of
prestigious awards which include being named CEO of the year by Utah Business Magazine,
as well as being recipient of
the prestigious Ernst and Young Entrepreneur of the year award.
She has been featured in The Wall Street Journal,
Forbes, USA Today, Inc Magazine,
Fast Company, Bloomberg business week,
and many other national publications as a result of her many accomplishments.
Next up, we have Brad Oldroyd.
Brad is the founder of Team One Management founded in 1997.
The company has come to own, develop,
and manage convenience stores and proprietary restaurants throughout Utah.
In 2008, Brad began working with Jimmy John's Gourmet sandwiches,
to franchise restaurants across the [inaudible] front.
In Brad's experience working with franchise and management companies,
he's developed skills in strategic planning,
market analysis, and management recruitment.
He actively shares these skills with entrepreneurs through
his roles on the Clark Center for Entrepreneurships Founders Board.
Brad holds a BS in marketing from
Utah State University and an MBA from the University of Utah.
Then we have Paul R. Woodland.
Paul received a Bachelor's Degree in Economics from BYU,
and an MBA degree from Stanford University Business School.
Paul spent the first five years of his business career as director of planning,
and later Vice President of Finance and
Administration for one of the divisions of Sega Corporation.
Subsequently, he served for 17 years as
the Chief Financial Officer for Dryers Grand Ice Cream,
a publicly health company.
Along with the other members of the executive team,
Paul led the business from 48 million,
to one billion in revenues.
He became the president and CFO of Hooked On
Phonics for the final seven years of his career.
Last but not least we have Steve Petersen.
Steve is a founding partner of Male Rock Capital.
He has successfully developed over
a 150 million residential and commercial properties over his career.
Steve is the founder and former president of American International Systems;
a leading technology systems, integrator,
and client service center,
with locations throughout the United States.
Steve as an angel investor,
who's interested in investing for reasons that go beyond pure monetary gain.
This includes wines keep up rest of current development in a particular business arena,
and mentoring on another generation of entrepreneurs.
He holds a BA in business administration from the John M Huntsman School of Business.
Please welcome the sharks. All right.
Well, let's bring out entrepreneurs and get this started.
First into the Tank is [inaudible] entrepreneur Spencer Fitz,
with a business called Rental On Me,
that is a peer-to-peer online marketplace
where you can share your items, skills, and services.
>> How many of us want to experience the world and everything in it?
We love experiencing new things,
and the reason we love experiencing new things is because,
it allows us to venture out and push ourselves to the limits of our possibility.
As an entrepreneur I wanted to create a way for
people to connect and come together and share their items,
goods, and even their services.
That's why I created Rental On Me,
an online marketplace where users can share anything.
With Rental On Me, with a click of a button you can potentially access thousands of items
in your local community that allows you to experience
your community in a way that you've never thought possible before.
Take one of our users Maddie for example.
Maddie used Rental On Me during spring break and found a hammock,
a backpack, and also a solar panel charger,
all for under $70.
She used it for the whole week,
and if she would have had to buy this equipment,
it would have cost her over $400.
An example like Maddie lets you see how easy it is to
gain access to items that you couldn't normally afford. Then there's Jake.
Jake rented out a GoPro to take to the Caribbean islands,
which he used to film both him and his family,
and instead of just these two photos which he sent us from his phone,
he now has over three hours of footage,
both above and underwater;
which was his favorite,
to make a movie for him and his family.
But how does the process work?
An owner of an item can simply sign up and list the item for free,
and they basically set the price and the terms of each contract so that they're
protected and so that they can also have complete control of who rents their stuff.
A user can also simply send out a rental requests,
reserve an item, and once it's approved,
they're able to pick a place to meet,
and then enjoy doing something that they would never have been able to do before.
We make money by charging a three percent fee to
the owners which covers our processing fee,
and we charge a six to 12 percent fee,
to our users as a service fee off of each transaction.
This allows us to not only pay for marketing and development of the site,
but to create a community where users can share anything.
We launched March first,
and since then we now have 225 users with over a 100 items listed,
anything from a $5,000 mountain bike to a bounce house,
to even your own private magic show.
So we're really excited with the growth of the product.
We're growing, and the reason we're growing,
is because we know exactly who our customers are.
We're targeting them online through direct email,
also through social media,
and we just put together a list of 1300 potential and qualified blogs,
websites, and influencers in the industry.
Where very proud with what we've done with Rental On Me,
and we've been really proud of what people have said about it.
One user a photographer even said that we were an answer to her prayers because,
she finally had a place where she could get more business here in
Logan and advertise her careers being a photographer.
We're really proud of what we've done and I
invite you to join rental on me so that you
can more clearly see how we can change your next adventure. Thank you
>> So I said okay. So the concept is someone has something that they have,
they put it up there to rent out.
I have something that you might want or whatever,
I say I'll rent it out, I set my own price you said, right?
>> Exactly.
>> Then a user comes on and they can rent it from
me and I want to understand the pricing model behind it.
So you said you take a percentage of whatever the total rental price is?
>> Of each transaction fee or of each transaction that occurs.
>> So you're getting a percentage of what could be a
$500 a day rental or a $2 a day rental?
>> Exactly.
>> Is that right? What about if I'm a user and I come in I want to rent something,
but it's not listed for someone else,
have you thought about anything that lets other user's,
I can come in and say, "Hey I want a hammock."
There's no Hamlet's listed,
is there anyone out there on this universe that have a hammock they want to post?
>> Yeah. So we've thought of that we are in the process of implementing it.
Since the launch, we've saw that same demand of people wanting to request items.
Before we were just looking at what people searched
for and the top item that people searched for,
we were actually going out and contacting those people that had those items.
But now if someone searches for an item, it says,
"Can't find what you're looking for,
make a request or list an item."
We invite them to list an item,
but a page where they can actually see what's being requested,
we are still putting together.
>> I think starting in the college market.
A lot of the kids here probably would love to make extra money,
but they're not thinking about what they have that someone might want.
So a way to let people know,
hey it's a way to generate income and see what's wanted for rent and then allow them.
That will also help you to grow,
because right now you need a mass number to make you look great.
>> Awesome. Thanks for that comment.
>> Spencer, I'm wondering,
how do you make sure you get your cut?
Seems to be a security issue there and then
let's say they rent the hammock one time and then,
three months later they want the hammock again and I'll just bypass
Spencer and go straight to this person and not have to pay that extra money,
how are you going to make sure you get your money out of this?
>> Yeah.
>> That we get our money.
>> Yeah. That a good question.
So obviously with any Internet, Website out there,
there's ways around it and there's always been and the most you can do to mitigate it.
What we've done to help promote a user of website is,
and what you can't get anywhere else if you were to do
it by yourselves is the protection.
So as an owner of an item,
you're incentivized to have the user come through
this site because then your item is protected through this site.
You can add a security deposit,
a damaged fee or a cancellation fee and we handle the transaction.
So you're insured, whether anything happens,
whether it's damaged theft or loss.
So that keeps people from going around the site.
Also you can only message user after you've reserved an item,
so we've mitigated it that way.
Does that answer you?
>> There is just one more quick one.
So we're talking about probably roughly 10 percent of the transaction, is that right?
>> Yeah.
>> All right.
>> Thanks.
>> So Spencer if you were to get all this money tonight that we're going to pass out,
how would you use it on?
What will cause you to break out?
>> So with the audiences $6,000,
we can insure participation in to expos that we want to participate in,
one this month, the 17th,18th of April which is outdoor gear Expo in
Salt Lake and then another in Spanish Fork in May.
But with $5,000, we want to
develop and launch an app by the end of June we're capable of doing it.
We just need the funds to be able to pay our web development team to put
it together and that way rental on me can be accessible anywhere.
So that way if you're on campus and you need
a calculator for a test and you left your home,
you can simply requests it.
There's maybe a student in another class somewhere that gets the request,
you guys meet up on campus and you're able to just borrows calculator for $4 or $5,
which I've already started to do just by word of mouth that people know that,
"Hey, you can get a calculator for five bucks from this kid through this site."
So that's what we would use the money for,
app development and our shows that we are going to.
>> Spencer, I really like the idea,
I wish it was around when I went to school,
it would have been more little more costly.
So you have about a 10-15 percent profit margin,
what's the average transaction size?
>> So to give you an idea of what we've made,
I don't have the average of my head,
but I know that after 20 transactions this month we've made $42 with 200 users.
So with the transactions potentially right now we have a lot of smaller stuff,
but with bigger stuff being added like that,
like a bounce house and services were getting pest control people on there now,
the potential for the price will go higher,
but that's what we've made with turning 20 transaction.
>> How long we've been live on the Internet?
>> Basically, since March first,
before we had a public beta,
but March 1st was our official launch.
>> Then last, what's your strategy in terms
of getting the word out and promoting the site?
How do you scale this outside of Cache Valley?
>> So myself I'm graduating in marketing,
that's my background and I love online marketing.
I've had a lot of mentors help me promote the site as of now.
Our plan is through social media, through influencers,
to get the word out to be able to grow the site
quickly enough that it sustains itself in a city.
So we focus on a specific city as we grow items and once a self-sustaining,
we move on to another city.
But as of now, we have items listed in your from Logan to Saint George,
but right now we're focusing still on Logan and then when we go to the show April 17th,
18th, we'll focus on Salt Lake for awhile.
>> Right.
>> Just out of curiosity.
What's the most unusual item you've seen on your site to rent out?
>> I thought that a $100 Magic Show like your personal magic show is pretty awesome,
that was my favorite.
I haven't rented it out yet,
but I probably will.
The item that gets rendered out the most is a projector is what kids love to use,
put it on the big screen.
We we rented it out one night to play Smash Brothers and that was a pretty intense night.
So yeah. Thanks for your questions.
>> So out along his lines,
what's your thoughts on how do you police this thing from becoming something
totally inappropriate and also what happened on Craigslist?
If you know what happened with Craigslist shame on you people in this audience,
but how do you police the trading that goes on?
>> So with the sharing economy as a whole,
there's a lot of companies now that are developing ways to mitigate this,
where you can actually meet the person online before you actually meet them in person.
So you have the first defense being able to accept or deny
requests from anyone that requests one of your items.
But we're looking into,
there's a company out of New York that just started up,
they're developing a way to display,
like you would with your credit,
a credit score for the online activity.
It takes into account anything they've done on Amazon eBay or
any reviews they have online and gives them a score and that way
we can automatically flag users that have been
potentially threat full in other platforms before they actually use ours.
>> The last question I have is around damages.
So let's say that someone runs out a projector and you trash it,
have you worked out liability protection,
so you're not liable and and do you have to
guarantee the users their item gets returned in good quality?
>> Yeah. So we worked with two lawyers to put together a contract,
so that we've done a good job that way.
If someone were to damage an item,
which hasn't happened on our site yet,
they would simply be able to request a damage fee.
We help mitigate it with the user and then that fees process after the fact.
So it's something that we helped mitigate now until we have the opportunity
to actually buy insurance for items on the site.
>> As you have said you need to offer an extra insurance policy that they can pay for,
so that if they damage an item they're not responsible,
then you could make money on the insurance as well.
>> Yeah. So just like big companies like Airbnb that provide that for free.
I mean they started by using it as a paid service and then going from there, but.
>> Thank you very much for your presentation guys. I think we're out of time.
Thank you.
>> Thank you.
We'll fix that for you. Next to the tank zap entrepreneur reset push incentives,
Christensen Genetics improves quality and reduces
expenditures for Beef producers which allows them to generate more profit.
>> Onset Christensen, I'm the owner of
Christensen Genetics which is a bovine genetic management firm.
So our entire existence is to help beef producers make more money.
Owners of beef cattle to make more money.
To make more money, in any business you have to increase income or reduce expenditures.
It's one of those two things and
Christensen Genetics helped both of those things to happen.
We increase income through artificial insemination.
Artificial insemination allows beef producers to improve
the genetic quality of their beef cattle at a lower cost,
we reduce expenditures by entirely eliminating the need for Bull ownership.
We also offer bull leases.
Artificial insemination does not always result in a pregnancy.
The companies that exist today that offer
this service offers strictly artificial insemination.
By offering bull leases in addition to artificial insemination,
we're able to entirely eliminate bull ownership and thus both reduce
expenditures and increase income for beef cattle producers.
So the competitive advantage is exactly that.
By putting these two services together,
we're able to both reduce expenditures and increase income.
There's no other company in existence today that can do this.
There's much more cost-effective than any of the other available options.
For a beef producer to make money,
he has to produce a calf from each cow each year.
The traditional options to be able to do this are
either artificial insemination which does not always result in a pregnancy.
It's about a 60 percent success rate.
You can lease a bull but then you have
a lower genetic quality and it's a constant expense each year,
and you're not improving your genetic base at all,
or you can purchase an animal,
purchase a bull to inseminate your cows and that will result in
either a high expense for high genetic quality animal
which may or may not pay out or you can have a low expense
and not improve the genetics of your beef cattle herd.
95 percent of this market in the United States is untapped.
Currently five percent of the beef cattle in the United States are being
inseminated through artificial insemination to
improve those genetics and reach those higher-quality markets.
A lot of the difference between a high-end stake had a steak house in San Fran New York
80 $90 a plate and a few dollars a pound hamburger in the grocery store.
A large part of that is genetic.
Helping beef producers to reach that
higher genetic potential is the purpose of Christensen Genetics.
If we were to look at even within a 100 miles of here according to census data there are
92,500 beef cows within 100 miles of where we're sitting right now.
Christensen Genetics nets $30 per head impregnated
which results in a $2.78 million annual net revenue within 100 miles of here.
We need to tap on 100 percent of that market.
In my experience, I've been doing beef cattle for a long time.
I've been working at it since I was 11 years old,
I have 10 years management experience,
certified in artificial insemination from the time I was 15 years old.
So I have the technical experience there.
I've spent the last six years working with beef cattle.
We've inseminated over 500 head of cows.
I've been involved in registered Angus beef cattle from the time I was 17 years old,
I purchased my first animals.
Then we have 2,000 head of beef cattle ready to be bred in spring of 2015.
So in the upcoming months,
so the market opportunity if we look at how big this market is.
In 2015, if we look at the net income is projected for Christensen Genetics,
we're looking at $68,000 and that's between
artificial insemination and these bull leases,
and that's net revenue over the course of this next year.
The beauty of this business model is that it's something that happens every year.
For a beef producer to make money,
a calf has to be produced.
For a calf to be produced,
there are all sorts of different options but Christensen Genetics is
the only one that can both increase income and reduce expenditures.
If we look forward into the future I'll graduate in May of 2016.
We're pushing graduate in three years other than four
to be out in into the market faster and to expand.
If we open up a franchise,
each franchise with a 100-mile radius that figure that I gave earlier
92,500 head of beef paddle per a 100-mile radius in the Pacific Northwest.
If we were to open up a franchise that's a $2.78 million market.
If we look in at 92,000 head per $30 net per head bread.
If we push forward to 2020 on a national basis,
there are 28.9 million head of beef cattle in the United States.
Each of those has to produce a calf each year.
The very most cost-effective way to do that and to reach
higher end markets is through Christensen Genetics
that's an $867 million market in net revenue on an annual basis.
If we work down into Latin America which is also a possibility,
there's another 306 million head of beef cattle down there.
If we're looking at $30 per head per year that's over
$10 billion in annual net revenue for
a total market size just to give you a picture of what we're looking at.
So the investment opportunity it's something simple, something small.
We realize we're not playing with millions tonight right?
There's a few thousand dollars at stake not a huge deal but we have an
$11,653 is exactly the price I
got yesterday on what is this called a portable corral system.
So right now we don't have access,and I know
this has got to seem like the weirdest pitch you have ever heard right?
But right now we don't have access some of the animals that
we're looking to get impregnated are up on mountain pastures.
They're way up where nobody can get to them.
To artificially inseminate a cow,
she must be restrained,
to be able to do that and these mountain pastures,
we need one of these portable corral systems.
>> There are so many jokes, I could say.
>> So many jokes.
So many jokes, trust me when I say I've heard them.
No. So this is the only picture here tonight about cows.
So we'll end with it here, right?
So I'm willing to put in a little bit over
$7,000 into this $5,000 would complete that purchase.
There is another 600 cows this spring
that we could access literally just with this one piece of
equipment that the cattle that are up on pasture and they're
difficult to access without this particular investment.
I'm willing to put in over 7,000 with an additional $5,000.
We'd have access to another $18,000 net within the next two months.
So I'm open for questions.
Let the jokes begin. I'm ready.
>> One thing that I've promised Amy that she would do was how you go about marking if
you've got a bull out there then you've gotta find
out who he needs to take care of you told me the story sometime ago.
>> How to go about marketing.
The calves that are produced are marketing a bull?
>> A bull to know what bull needs to do when he's out there.
>> Still not understanding the question.
>> Don't answer. I may have to explain this to you.
>> Dude you can talk fast.
>> Yeah.
>> That was awesome.
>> They told us a week ago.
We had five minutes for this.
They told us last night we have three.
So there we go.
>> Fantastic.
>> Yeah.
>> I'm curious about on these bull leases,
the genetics of those bulls.
Someone is obviously going to want to make sure that
they're building equality heard based on these genetics.
>> Right.
>> So are you guaranteeing the genetics of these leased bulls.
>> Yes.
>> That part of your business and then how do you scale that,
then how do you guarantee the genetics here?
Then you franchise and you have all these guarantees of genetic quality to worry about.
I'm concerned about that going forward.
The capability of your business is really the question.
>> Right, that's an excellent question right there for sure
right now a lot of the animals that we're actually leasing out,
these bull leases that we do.
I'm leasing personally and then subleasing.
So we're just making a margin on those.
Then I have animals that are produced each year myself
and I'll personally lease out animals that I've produced.
So to guarantee that genetic quality,
essentially I won't lease from just anyone.
I don't go to your cheap Podunk producers.
I don't go to guys that don't know what they're doing.
We're going to some large herds.
We're going into people that have been in this business for some are pushing 100 years.
>> So to make sure it's not your bulls.
You're saying these aren't actually even your bulls so you are finding bulls.
>> Not all are my bulls.
No. Yes, I also produced my own but at this point
in time demand exceeds supply by
about 10 to one I can't keep up with the people I've got.
>> But somehow you've got to track because
the same bull and you're going to have a cow that gets pregnant, right?
It's going to have a baby that baby they're going to want to have
that cow get pregnant in a couple of years.
How do you make sure the same,
the father in all seriousness that
same bull isn't impregnated on its own because you'd have serious genetic issues.
>> Right. I've inbreeding issues.
Absolutely. So one of the parts of the business model of
Christensen Genetics is that we've got
both the supply side and then we've got the service side.
So the animals that I'm producing,
these bulls that I'm producing,
and the ones that I lease as well.
We're using them from the time they are one years old until they're two years old.
Then at that point in time, they're sold, they move on.
I no longer have any contact with them.
So you wouldn't have any issue if a bull would continue in service for three years,
you would have a genetic issue there with inbreeding.
>> Also, I mean you talk about the market size but don't a lot of
these big ranches actually or farms actually have their own bull currently.
So some of those are gonna be unavailable to
you or how it talked to us about that from the market perspective.
>> That has actually been an issue we've run into is
the situation of coming into a herd that they're already purchasing bulls.
They already own bulls. What did we do?
So a lot of what we've done actually with my new clients that we've got,
we're starting with this spring.
I've come in, I pitched them the business explained to them that
they can lower their expenditures by not having to own that bull,
and then they can increase their income.
So what we've done is I've actually leased all of those bulls from them.
Then they'd been subleased out into several different herds.
So they're making an additional return on that investment
and they're able to get artificial insemination done on all of their cows.
Just for perspective bulls that are collected
and used in artificial insemination can sell for just under just under a million dollars,
one sold this spring for $725,000,
and they're able to get 60 percent of their cows pregnant to that bull.
Then the other 40 percent are bred by
base that I'm managing as was mentioned previously that I'm very,
very selective about which animals are allowed into that bull battery.
>> So tell us again what your revenues are last year or
last few years and how you're going to really expand that much more rapidly?
What is the key to expanding it?
>> The key to expanding will be getting people
trained and getting people able to do what I do.
This is the first time you've ever heard someone talk about inseminating cows.
>> No, it's actually I'm married to dairy farmer.
>> Impressive.
>> So I heard stories trust me.
>> Wow. Yeah.
>> Your love shack idea needs to mood lighting.
A little music would be nice.
You got to the lady right, come on.
>> That's right. No absolutely.
Can you repeat the question? The joke was good, it was well played,
could you repeat one more time for me? Sorry.
>> Which part?
>> The policy question, apology. Oh revenue the relationship that we're looking at.
>> Revenues and then how do you?
>> Revenue is scalability.
>> Right.
>> So revenue at this point like I said we're looking at 68,000 in that revenue for 2015,
and that's based on 2,000 herd of beef cattle that we're
planning to breed over the course of this year.
>> Is that artificial insemination, or is it actually bringing a bull in?
>> Bulls, and that's what makes the business differences.
>> Is that more of your revenue coming in?
>> More of the revenues from artificial insemination.
>> That's higher than the bull.
>> Yes, yes, so of that 68,000
approximately 60,000 will be from the artificial insemination.
The other 8,000 comes from the bulls,
and so the bulls isn't a huge profit center for me.
What it is, is a huge sales point for these producers.
There's no other company that can totally eliminate the need for bull ownership.
If any other company were to come in and attempt to sell that service.
They have to own a bull and pay for the service,
whereas with my company they strictly pay
for the service and all of their cows impregnated.
So looking into the future for scalability,
the biggest limiting factor really is,
How many of you guys want to work in this?
>> Don't lie.
>> So yeah. So training people is actually our biggest limiting factor.
That's what we'll work on a lot through 2015 and 2016,
as I get people trained and we're hoping to be able to open up
like I said franchises with a 100 mile radius,
and I'll be supplying the bulls.
I'll be supplying the high-end genetics.
We supply the brand, the marketing and then the training as well.
I'll train these people,
and then they'll go out and establish their own clientele.
So on a scalability base.
It'll be up to $2.78 million market assuming you were to tap on a 100 percent.
Obviously, we don't expect that,
but that's how big the market is for each of these franchises.
So we want to go forward as quick as we can get people trained.
>> So how?
>> What question do you ask a guy that breeds cows?
>> I don't know where I start.
>> I don't know what you start, right?
>> Yes. Now I like the name of the mobile, the love mobile.
>> That's right, that's right, marketing right?
>> What I'm curious to know is who your competition is,
and what sets you apart.
What's different about your process over how it's currently being done?
>> That's an excellent question.
There are companies that exist in the United States today,
there are four large companies that work in
artificial insemination that are large established companies,
there are a few smaller companies that work with boluses.
There are no companies that do both,
and so the companies that provide strictly artificial insemination like said,
you're about a 60 percent success rate.
So in that case the clients of those companies,
have to pay that company for their services
and in addition to that they have to own their own bulls,
or else you'd only have 60 percent of your cows producing any profit,
any revenue for that year.
On the other end, there are a few companies that exist that will lease you a bull,
but your genetic quality is not guaranteed.
Your cows are bred over a larger window.
There's a whole bunch of issues.
It's a constant expense that doesn't pay out
nearly as well because you're not tapping the high end of the market,
your genetic improvement is not there,
and so there are companies that offer one or the other.
Christen and Genetics is the only company that offers
both to entirely eliminate that expenditure.
>> Is there something that sets the way that you approach it as
different from others in terms of how you artificially inseminate them,
or the process you mentioned you're going to do some training and franchise.
So is there a particular way you go about that that's unique, or proprietary?
>> The proprietary edge is exactly that bringing those two services together,
there's no other company that can eliminate the need to purchase or lease a bull.
>> That's your company.
>> That is the edge, there's no other company that does that.
Any the other company you can increase revenue,
or you can decrease expenditures. You can do one or the other.
You can lease the bull or you can do the AI.
There's no other company that does both.
That is the edge, is to eliminate that need for bull ownership.
You don't have to purchase a bull.
>> Has it been hard to get access to
the different types of like Angus versus Harvard versus,
is that been hard because you have to have each type, right?
>> I am genuinely impressed you know those words.
>> [inaudible]
>> Well done.
>> Not mine though.
>> Well done, well done.
No absolutely there's a lot to be done.
Genetics has been really interesting to me for
a long time I've been studying specifically in the Angus breed,
is where I'm focused.
So my cows that I own my base hat is as Angus,
and then I have other guys that we've got contact with all over the States,
that are producing Charlie,
that are producing Harvard,
that are producing red Angus,
semi tall limbs and all of these different breeds.
That they are experts in their field because I would never
want to go and sell a subpar quality product.
I don't want to go and tell people,
well I'm guaranteeing genetic quality but only sort of.
So I know Angus genetics as well as anyone,
but I do not know these other breeds as well and because of that I
have brought in outside sources that will supply high end.
>> But your market size you have been talking about is all of those.
>> All of those.
>> Not just Angus, right?
>> Yes the vast majority of the cattle in the United States are actually crossbred.
They're not purebred cattle,
your genetic seed stock as they're called are almost always purebred,
but the different crossbred cattle gaining access to these different markets.
It's pretty homogenous overall.
They're all crossbred.
They have a bunch of different breeds in them on average.
>> I hate to do this, but we are out of time and this could go on all evening.
Frankly, I think we've all enjoyed this tremendously. So thank you.
>> Thank you.
>> All right, next in the tape,
we have Aggie entrepreneur Cody Pickering,
who is revolutionizing the skating industry with boards that are twice durable
and have a unique design and look and the attention and envy of other riders.
>> Is my mic working?
Sharks, audience members, it's a pleasure to be here.
So Align skateboards was started this time last year,
in hopes of coming up with our own senior design project,
most seniors in mechanical engineering work on
someone else's project throughout the course of the semester.
Me and a couple of my friends, were talking,
we decided we don't want to work on
someone else-s project and end up with nothing but a grade,
so let's come up with our own thing.
That's when we decided we could analyze prototype and produce aluminum skateboards.
So at the beginning of the semester,
that's when all the heavy analysis started, fatigue analysis,
dynamic analysis and it was all focused on coming up with the cross-sectional profile,
or an area moment of inertia.
So for those of you that aren't engineers,
the area moment of inertia is
a mathematical description of how hard it is to get something to bend.
So if you hold a piece of paper out in front of you,
it'll fold in that direction quite easily.
But when you turn it on its side, it's a lot stiffer,
and that's just a description of how much stuff there is away from the centroid.
So using that principle,
we are able to model this deck.
Currently it's three pounds and it's just as stiff as a wooden board.
So once we had something we are proud of we started reaching out to different companies.
Not too many of them were interested until we got to Carver skateboards,
their company in Southern California that does 200 sales a day.
They sell 200 skateboards a day and they were very interested in an aluminum skateboard
for the sole purpose of the lifespan and
longevity that you can get out of an aluminum board,
because wood warps and curves over time when it's exposed to moisture and humidity.
They wanted something different since most of their customers live near the coast,
most of them are in California.
So they had been looking into this for
quite a long time and when we showed them what we were doing,
they got really excited.
So we started to design to something that they had in mind,
a board similar to what they had.
So we can produce any type of top profile that we want.
We have an exclusive agreement with carver to only sell this type of board to them.
We've also done a bunch of deflection testing on our board,
to match to the wooden boards so that when you step on it,
it deflects in the same manner,
so that when a 100 pound rider steps in the center of it,
it'll bend the exact same amount to ensure a similar riding quality and field.
So this is some of the deflection testing we've done.
We've had people ride it.
We've had riders at Carver including
the President Greg Greg folk and some of his PRO riders,
and they think that the field between wood and aluminum there's no difference.
So you get a longer lifespan of the board with no sacrifices.
So with such a superior product you might expect it to cost more,
but that's not the case.
We're planning on producing this board through future industries which is
a company that I worked for over this past summer and they extrude aluminum.
The processing time on 300 of these boards, would be a day.
They crank out thousands of feet of aluminum in a matter of hours,
and so the amount of time that we could produce will really
drive our costs down being about $36 board.
So we can produce at a low cost but the question is,
What type of money is there in this industry?
So there are 31 million skateboards sold each year $4.6 billion in this market,
now surf skates or a small fraction of this.
Only about 300 thousand surf skates are sold
each year and we'd be selling directly to Carver,
if we were to sell 200 boards to them a month.
It would be $96 thousand of profit for us.
So that's probably not a lot to you guys and to the cow guy Seth.
They're used to much bigger numbers,
but we would use this $96 thousand to fund into further research and development of
the long boards style and traditional skateboards and use
that money as seed money to expand the company.
That is going to be our business model,
focus first on Carver,
develop a product that they want,
that can elevate their company,
make them proud and then refocus on the brick and mortar stores,
hit sales locally and then get onto mere skate which is
the largest retailer for skateboards, on the online market.
So yes that takes us to questions.
>> Cody, beyond the longevity of that board are there any other advantages
from a performance standpoint that aluminum gives over traditional wood?
>> So longevity in both resistance to humidity,
moisture, weathering, and corrosion,
but also as far as impact is concerned.
Lots of writers, I don't know if there are any long borders in here maybe I don't know.
But when you're writing if you ever jump off
the board and you're going to faster you can't handle it'll keep
going and it'll hit the curb and which will
cause inline fractures down the grain of the wood.
Since there are no grains in aluminum.
Yeah. You don't have to worry about that.
The aluminum will flare on impact and so it gives it a longer life.
>> You mentioned production cost $36, is that what you mentioned?
>> Yeah and that's a worst-case scenario.
>> What does, excuse my ignorance on this market.
What does the board sell for?
What do you anticipate this board will sell for?
>> So these boards sell for between $90 and $100 a deck just depending on which one.
>> Okay.
>> So yeah, we would hope to sell to Carver at $70.
I'll be flying down April 10th,
coming back on the 13th and hopefully,
we'll work out a purchasing agreement.
They said they showed interest of buying
200 of them when I was down there over spring break.
They really like the previous prototype that we had,
this one's even lighter and more similar to what they want.
>> You would hope to sell to them for 70?
>> Yeah.
>> Okay. Then they would go $100 or so in retail?
>> Yeah.
>> Okay.
>> Yeah. Giving them the same margins they have on
the wooden board giving us a 100 percent profit.
>> First of all, we want to congratulate you for this past weekend.
I don't know that you all know that Cody won four awards, is that right?
>> Yeah. We won four awards.
>> In Utah State competition which is fantastic.
>> Yeah.
>> I think you've alluded to this question but
I assume you've already talked to Carver and have they placed an order,
are they in the process of negotiating with you-
>> Yes.
>> - where does that stand right now?
>> So that's what the sole purpose of the triple B.
There was brief talk when I was down there the first time saying you know we
could buy a lot of these from you. We like where you're headed.
We want to see these changes.
We made those changes.
So yeah, that's the goal over this next weekend.
>> Have you identified other people to whom you can sell this, other retailers.
>> So yeah, we've contacted just the local skate shops in the valley and in [inaudible].
So far everyone's super interested in the longboard models.
It's things there are used to selling.
Since we don't have a well-known brand they only want to sell them on consignment
but the employees at the store or the shop owners are like,
"I'm definitely buying one like this is a really cool
product" and everyone that sees it enjoys it.
People that ride it like it.
So we're confident that we'll be able to sell locally as well.
>> What about safety?
Seems like the metal would be a little sharper edges verse the wood.
>> Yeah.
>> Then also the traction on top.
You have a material put on the top.
>> Yeah. So starting with the first one the safety issue.
Snowboarders are sharp, they're razors, skis are razors.
It's just totally dependent on how the individual will use it.
We can't make it just idiot-proof for anyone.
>> If someone falls off and that thing keeps going,
it could I mean [inaudible] if someone fell off of that nothing's still flying downhill.
>> Yeah, no. It is but there's also I think it's
the liability insurance that a lot of companies just purchase upfront.
So I mean, we would definitely be getting that.
>> I'm wondering if maybe you put a little edge around it,
rubber edge or something like that.
>> We've definitely considered it.
I don't know, It would take
a little bit more research and product development to make sure that it doesn't look
like just a phone bumper but it's actually elegant and sleek and just makes the board.
>> The cool effect.
>> It needs to have the cool effect.
Then as far as grip,
a lot of skate companies will have a clear gloss with silicon sand
to provide the grip like I don't know if you've seen loaded skateboards
or there's a bunch of different ways that we can supply traction.
>> Yeah. This got done anodized today.
So it's like we're just getting through the process every day.
>> So is there a strategy moving forward not to just tow sell but also have
a retail Internet strategy and are you branding it?
So you have a certain brand that you've come up with or a
logo and trademark that type of thing?
>> Yeah. So I mean we're branding ourselves as line skateboards.
We're not planning on having a local shop immediately.
The overhead is just too extreme for where we're at right now.
Especially, since the relationship we have with
Carver can be so beneficial for us immediately.
I mean to go from having nothing to being instantly
profitable in the first year like that's as far as I know unheard of.
So we're pretty happy with where we're at right now
but I mean we're definitely not going to cap ourselves in any means
>> So you said it had the flux but does it spring back because isn't that the limitation
the wood layered wood will spring back whereas aluminum won't?
Is that a concern?
>> So it is,
as long as you stay within certain realms.
So this tail we had to bend it up to
a 47-degree angle in order to produce this amount of permanent deformation out of it.
So the amount of force required to produce permanent deformation is just extreme.
Under no normal writing circumstance will
you do that and if you were to do that to a wood board it would break.
So that's what we are going to have.
>> I think it would be a limitation. What about from a looks perspective,
I mean both my kids they love longboarding and all that,
and my nieces and nephews.
They all have on their boards,
they like personalize them.
So does this limit the ability for people to
personalize their board or do you see that that something you can offer with your board?
Are we looking to design their own designs to have on their board or whatnot?
>> Yeah. So I really wish I would have had this done sooner.
So I could show you guys but with aluminum and wood
anything really you can laser etch it and that's where this is going next.
So yeah, just using a high-powered laser you can expose
the raw aluminum underneath in any pattern shape whatever you want.
So for this one, we're going to do wood rings just to show that it was inspired from
a wooden board and that's where the roots are
and show what the core of it is aluminum underneath.
>> Have you file for a patent on this or is it even patentable or is already out there?
>> So one of the awards we want at DVC was $5,000 worth of legal help,
getting put towards a patent.
There is public knowledge with these boards.
A few years back there was a guy who
machined just a bar stocks chunk of aluminum and had a board.
So there's certain aspects of public knowledge but as
far as matching the bending properties of the wood,
we feel that that would be something that we could claim as our own.
>> Okay. We want to see one of these guys ride one of them.
Do a little demo.
>> All right. Last into the tank is [inaudible] entrepreneur Danny [inaudible] ,
with a revolution idea that will keep you both hydrated and happy.
>> Well, sharks we're happy to be here.
I have a product that we built really solved the problem.
Right now, out in any outdoor activity hydration is absolutely critical.
The most common way to carry that water is in hydration patch such as this one.
But usually that water needs to be filtered and treated ensure that
is safe to drink and after a few days of charcoal [inaudible] river water,
you just need something more than water and electrolytes.
So the use of the common solution to this.
>> Diet coke.
>> Diet coke. That's on our next line actually I'm glad you mentioned that.
The current solution other than diet coke is fill
the hydration reservoir full of [inaudible] crystalline or something along those lines.
This is true for the soldier, the adventure.
Oh, we got
[inaudible].
>> How about that? Do you need me to start over? Just kidding. We go from here.
So outdoor hydration, everyone needs it,
including the soldier, the adventurer, and the athlete.
There's 1.7 million active soldiers in the US military right now.
1.3 million of those are daily hydration pack users.
The number one requested item from our soldiers,
from home, is flavoring packets for their water.
Last year, CamelBak had $200 million in sales from their hydration packs.
Outdoor Sporting Goods here in Logan Utah alone,
sells over 3,000 hydration packs annually.
Not only do we have 2.5 million annual sales globally of hydration packs,
but we also have over 25 years of previous customers,
and athletes who faced the same kind of pain points.
I'm excited to introduce to you today, this innovative,
patent pending solution to this problem. The InFuze.
The InFuze is an inline flavoring system,
that easily attaches to any existing hydration pack.
You're able to have flavor or water on-demand.
You can drink normally without
any interference and as soon as you want water you just simply turn the dial.
If you want to change the flavor,
you simply pull out the cartridge and replace it with one of our own flavor cartridges.
This gives you high-quality flavor and electrolytes on-demand without any of the mess.
So how many people want this?
Is there really a liable concern for this?
Well, we have some taste tests here for you to test.
This is our mango flavor.
This is our strawberry-watermelon.
We have over 200 presales,
people that have committed to buying our product as soon as we launch.
Over 30 of those people are willing to pay for our prototype testing.
Backcountry.com, the world's largest outdoor retailer,
wants us to come down this summer,
and do a gear demonstration with their gear heads,
so that they can be ready to promote and sell our product in the fall.
We've also been invited to audition for that other Shark Tank,
the one with TV cameras.
>> There is a camera over there.
>> That's right. Put me on TV, we'll call it, good.
So what's our potential?
Is that really a viable business that we can pull from this product.
Well, we have 1.3 million military users,
2.5 million annual sales and on an average
of one million sales per year for the past 25 years.
We have 28 million potential customers.
Now we realize we aren't going to hit that entire market.
But if we can capture just one percent of that market share,
we will hit over seven million dollars in revenue.
Three percent, over 20 million and five percent,
will be over $35 million in revenue.
So up to this point,
we've been able to bootstrap and stretch every dime that we've received.
But we've been invited to the Outdoor Retailer Expo,
as well as a Military Gear Expo this August,
but we don't have the funds to be able to do that.
I have a $1,000 of my own money that I can put towards it.
But sharks, from you,
I need $3,500 tonight that we
can use to pay for us to get into the Outdoor Retailer show,
which will help secure us some strong channels of distribution.
From you in the crowd,
I need your help to make us the crowd favorite and give us that additional
$1000 so that we can be able to pay for our Military Gear Expo.
Help us make the InFuze.
I'm sorry, Mark. I hope that's not me.
>> [inaudible].
>> That's a non-alcoholic beverages right there.
With your help, we can help change the future of
the outdoor hydration industry by you helping me fund the InFuze tonight. Thank you.
>> So help us understand a little more how it works.
Okay, because CamelBak's, like my husband uses
his weekly unlike mine once every six or seven years maybe.
So it's going to be sitting forever, isn't going to get nasty?
Explain how that doesn't get gross.
>> So this is our art,
so close to functioning prototype.
But what it is, is this top piece this blue piece here,
the blue piece is the only permanent part of this device.
The flavor cartridge here can come out just at any time.
So after you go on a backpacking trip you just pull out
that flavor cartridge and there's really
no cleanup to self-contained bag that stays inside.
So you just throw the bag away.
>> Is it mixing with the water as the water flows through? Is that what's happening?
How are you making sure the right amount gets in
your water to not have it be too favorable or not enough?
>> So that's part of our patent that we have pending right now.
We have a meter here that as you turn it,
it changes the amount of flavor that is able to pass through.
>> Does that actually go through the same piece as the normal mouthpiece in
my mouth and does that part get gross from the tank to
the piece that is in my mouth and you switch that that out as well or no?
>> The only part that would need to be cleaned is between right here and your mouth.
So this is easily detachable,
which is simply you just pull off one side which is on tight right now.
>> Is that your piece that's detaching or that's what came with a backpack?
>> Let me explain how how you put it on.
I can help this a little bit. So you have
your hydration packet has this mouthpiece on it.
You buy our device which will be this blue piece that we'll sell.
>> Okay.
>> You'll take your mouthpiece off,
pull that mouthpiece off, put this on here.
>> Okay. So it's not running through
the normal one that came with it. It's running with yours?
>> Yes. Use the existing hose,
we provide a little piece of hose,
you don't have to cut anything and then you just put your mouthpiece back on this side.
>> Does anybody else do anything even similar to this?
>> The closest competition that we have is a product called the
[inaudible] and all it is is an electrolyte shot.
There's no other in-line flavoring system out there right now.
We feel that not only is it a viable product
that has great reviews and great feedback so far,
we feel like it could be in a new market,
if you would have to the outdoor industry.
>> Danny, when you're looking at the actual device itself,
you're talked about money you need to get to the shows.
>> Yeah.
>> Is there any money that's necessary to complete that to have it completely functional?
>> Yes, there is. My plan for that right now,
if we had $20,000,
we could be able to finalize every little aspect of the design and be
able to launch with the injection mold and manufacturing our first run.
But right now our plan currently is
we're going to the Adventure Gear Expo here in a few weeks.
We're going to do pre-sales and offer a discount or
a deal for people to help to buy our prototypes and become part of our testing community.
We've already had people that have said they're willing to do this as we thought we can
capitalize on that now instead of waiting for ourselves and with that money,
we should be able to fund the extra R&D that we need still.
Were close though, we are very close.
>> So you mentioned your patent is pending, right?
>> Yes.
>> What's your anticipated cost per unit and then your sale through?
You're going to sale these as
an aftermarket piece that would fit on most of these packs right?
>> Ninety percent of the packs have
a quarter-inch hose and so they'll fit on the vast majority of them.
>> Okay. Another option would be to get the patent and then
go straight to the manufacturer and try to make a deal with them, right?
>> Yes.
>> That's what happened because of [inaudible].
>> Yes. Yes.
>> We've actually had one acquisition offer already from a small company called Tribe One
Outdoors and I turned it down just because I'm passionate about this.
It's something that I want to see succeed and I loved doing it so far.
>> If they're a small company, they had a small offer.
>> Yeah. But but to answer your question on the price per unit,
we feel that on a conservative side we can produce each unit for around five dollars,
which will be the injection mold,
the flavoring, and the cartridge.
Then we'll sell the top blue piece
as as a single unit and then the cartridge and single unit
and then we will sell replacement flavor packets that you just insert into the cartridge.
So our lifetime value of
the customer is going to be in the resell and in them buying our flavor packets.
We are in negotiations right now with a company called Star Drinks,
which is a stevia based all natural flavor
similar to meal and that's what's in this right now and which you guys sampled,
which we feel would hit our target of a product that we're looking to have.
We don't want to be beverage manufacturer or hydration pack manufacturer.
We want to be the person in between that can combine those two industries.
>> Okay.
>> I see a great idea and I see the demand for it and the need for it.
I'm wondering on the cartridge and the flavoring,
is that something that you could put in your own flavor in
it or is it required us to buy a cartridge each time?
>> We've gone back and forth on this many times.
We have a design currently right now where
the very best way to use it is by buying our flavor packets.
They are refillable if someone wanted to get a syringe and go through the hassle of
injecting flavor back into their little flavor packet,
but our business model is to resell the flavor cartridges.
>> Then another question,
I see maybe another market for this where maybe
runners and tied into the drink bottles they
have to give them nutrients to make it through the race and
maybe tie it into even the goo that they use.
Have you explored much in that space?
>> So the one thing that we need before we launch is we want to
have an electrolyte additive to this so they're
automatically getting those electrolytes and then later
move into some sort of a nutritional based product that we can have.
Our second year of production and R&D we want to come out with a water bottle version
of this because we feel the same way that there is
a demand there that we could tap into as well.
>> Good job. Thank you.
>> Thank you very much.
>> What an amazing job by
these [inaudible] entrepreneurs. Amy, did we get it warm in here?
>> Yes.
>> It's better.
>> Well, these hooligans had the door open over here.
All right. Well, as Danny mentioned,
we do have a voting.
But now we're going to excuse the judges so they can go
to side who won tonight's competition and what to do with the money.
So another round of applause for everyone that participated.
>> All right everyone, if you'll pull your phones out, follow those instructions.
You can use your computer.
Go to that web address paullevy.com.
You got to text the FUSCIADOOR380
which is a little interesting but that's the word they gave us.
Text that to 22333,
and then once you text that then text your vote.
You have a minute 30 to do so.
Justin said we want your votes too so text in.
>> As an investment, it's challenging.
Good luck with this but I'm out.
>> You guys what an entrepreneurial story. I love it.
>> If you haven't voted keep voting.
>> Unfortunately.
>> So as an investment, I'm going to be out.
>> I feel the same. I have so much respect for what you guys are doing.
>> You've got 20 seconds
left if you haven't voted.
Poll is closed. Thanks for your participation.
I don't know who the winner is but we will have to go tally these up.
>> Yeah. Sure. Fine. It's in there.
>> Okay.
>> Do you want to be in [inaudible] right now?
>> All right. It doesn't matter.
All right. Obviously, we know who the winner is.
So Danny, wherever you ran off to if you'll come back down.
All right. Congratulations to Danny.
He's been working hard with the Clark Center this year.
He's put in a lot of effort this year and he deserves it.
He's a good guy, and he's got a great idea.
Hopefully we can see that on the shelf soon.
Now we have this video.
For those of you who don't know, entrepreneurship week starts next week on
Monday with a surprise.
You'll want to be involved. Trust me.
It'll be on the quad.
I'm getting signals from the back,
but I don't know what he's saying. Movie.
>> Unmute it.
>> Unmute it. We got you.
Good thing I know a little bit of sign language.
All right. So there was the surprise.
We'll have that here,
the stunt jump on Monday to start this off and it's going to be an awesome week.
As you saw, there's lots of activities and competitions,
a chance to walk with a few prizes.
Come support the Entrepreneurship Center and have a good time next week.
Next we'd like to invite Mike Clouser
and Braiden to come up and talk about how the pitches went.
I have to find it. But I can do that.
Not only will we show you the video,
we'll show you how to sign up if you want to participate in SEED.
You just have to go to this website and
apply [inaudible] is a great opportunity for everybody.
This video will explain it better.
You don't want to listen to me anymore.
>> I really came to understand that just the simplicity of life.
>> Call me crazy but I honestly didn't
understand that people thought differently than I did.
>> It's an amazing opportunity to both learn and help someone at the same time.
While you're gaining experience,
they're also being helped.
>> It's one thing to learn accounting in a class,
it's another thing entirely to be sitting in a wood hut with
a grass roof over your head teaching Ghanaians real business classes,
and SEED gives you that real-world experience.
The SEED program is Utah's State University's ability to
give undergraduates an experience to go international.
Whether it's in Peru,
Ghana, or the Philippines.
From there you teach business classes to locals,
and help them with their inventory,
marketing, all sorts of business practices.
>> We taught these classes to those who were interested in either starting a business,
or just expanding the current business that they had.
>> After they go through their classes,
if their business is viable and sustainable they could qualify for a loan.
>> We give them these loans so that they
can expand their businesses in ways that they haven't been able to before.
>> These businesses were typically selling little biscuits,
or vegetables, or fruit outside their little house.
>> As a student at an undergraduate level,
you're able to hand select people,
mentor them, and then help them repay
their loan with interest so that the program is viable and sustainable.
>> We were just a part of the culture.
We were a part of the family,
a part of the village,
and that really helped us to understand the students in our classes,
and to understand just really how
different businesses worked and operated in the village.
>> I really got to see how the people live in
developing countries and that they really have an understanding of their market,
and their customer, and they have ideas for how to improve their lives,
and that they just need a little outside help to be able to do that.
>> It's really eye-opening.
I loved this experience with social entrepreneurship and it's really
great to be able to see that we can still be profitable.
We can still go out and try and make money,
but we can do it and help people at the same time.
>> SEED gives interns an opportunity as
an undergraduate to have real-world business experiences.
A lot of the interviews that I've had going into jobs are always captured by this,
"What did you do in Ghana for an internship?"
and to be able to say, "I was a business consultant.
I helped real people's businesses succeed.
I taught them inventory.
I taught them accounting, and we decreased our loan percentages by a measurable amount."
To be able to go into an interview and to be able to say,
"I was in Ghana for three months and was able to help real people with real
business problems" has been a X-factor on my resume.
>> Do it. You have to do it.
It is one of the most valuable experiences
from the business school that hardly nobody takes advantage of.
If you are even considering it, apply for it.
Apply for every semester until you get it because it, honestly,
is just one of the best experiences I've ever done and I think everyone needs to do it.
>> How many of you have heard of seed before?
Good. That's a lot of people.
>> Yes, doing our job.
>> It's open to every major,
and it is a great experience.
I got to participate for a little time in Peru,
and it definitely changed my life,
and I helped change other people's lives.
It was really an awesome experience,
and you should all do it.
You should all be fine for those sports,
especially now they have the Philippines,
on your off days, go to beach.
All right. But just another reminder about e-week.
We have a race, the entrepreneurship race.
I'm still getting signals back there,
but I don't understand his sign language.
He wants me to go right.
We got it. So this is one of our main events for next week.
This is where you get the chance to sign up,
and you do as many tasks as possible.
I don't know if you've heard of Questival,
but we kind of base it off a little bit of that,
but more entrepreneurial tasks.
By the end of the week on Thursday,
you turn in and if you've had them all,
if you have the most tasks you win.
There'll be some good prizes for that.
So we want you all to get a team,
sign up, and register.
By Monday at midnight, you can start registering now I believe.
There's $1,000 up for grabs.
I'm learning the sign language, pretty good.
So sign up, get a team,
come participate, we'd love to see you all there.
Now we'll have time for [inaudible] to talk about pitches.
>> Okay. How have you enjoyed tonight?
It's been fun. Would you
like to see us do this every year as part of our lecture series one night?
Okay, fabulous.
Okay, I'm just here to kill time until the judges came back in,
so we can do whatever we want.
But let me say a little bit more about the seed program.
We just opened up the Philippines,
our first group of students will go there on May 15th.
So we now have four students in Peru, in Trujillo, Peru.
They're there year round, they change every semester.
We'll have four students going back to Ghana in January.
Every year, all three semesters,
and now we'll have six students in the Philippines,
fall, spring, and summer semester.
So we're going to spend about 40-45 students out this year.
It's a phenomenal experience,
the experience has been funded by great donors,
so that it's not cost you at all.
So we cover your airfare,
we cover your lodging,
we cover your meals.
You do have to take a little bit of extra spending money,
but it's an opportunity to go and have a semester abroad,
and in the past also,
you haven't been able to get much credit for that experience.
So you'd have to take an extra semester out of school,
and go on a seed project and then come back,
and do an extra semester to graduate.
We now will allow you to do up to 12 credit hours during your internship,
so you can take online courses,
or you can earn our entire minor in entrepreneurship,
while you're in the Philippines,
in Manila, or in Peru, or in Ghana.
So it's just a fabulous experience.
So you just need to come to our center,
to get more information about that.
We have some brochures,
or you can just go online to the Hudson School website and click on "Seed Program".
Okay? So hopefully, we'll see some of you.
You speak English in the Philippines and in Ghana,
you need to be able to speak Spanish if you want to go to Peru.
They're all just fabulous locations.
So it looks like our judges are done,
and I don't need to kill anymore time.
So thank you for coming tonight,
and let's thank these judges for coming,
our Sharks have been fabulous.
>> One quick last thing on seed for any of those that are interested,
our application deadline for this coming spring is April 15th.
So if you're interested in going this coming spring,
go ahead and get those applications in before that deadline.
We'll start that interviewing process after that time. Thanks.
>> Are we building suspense?
>> All right, if we can have all the entrepreneurs come up.
>> Okay, we're going to start with the lowest dollar amount we're giving away today,
but still awesome company is to $500 going to Rental on Me.
The next prize is for a $1,000 going to Align Board.
The next is our favorite,
Hamburger With Spam on the side company,
Christians and Genetics is getting $1,500.
Our largest check for $2,000 is going to InFuze.
Now before you guys walk away,
or go anywhere, we want to tell you that,
we know we didn't catch all of your numbers,
so we did write down that InFuze is looking to raise about 20,000
and Christians and Genetics is looking to raise about was it 7 or 8,000.
Okay. I didn't catch the others if they're looking to raise,
but I wanted to let you guys know that the Sharks here,
there's at least two or three of us that would like to meet later with you guys,
and look at investing in your companies for the amount you're look to raise.
The final thing I want to tell you guys is,
so I write for Forbes and the Huffington Post,
and part of what I wanted to look at today
is to see if any of these companies were one I would
want to write up in Forbes and I'm going be
writing about all four of you, so congratulations.
>> All right, thank you Sharks,
thank you entrepreneurs, we had a wonderful night here.
We'd like to give our Sharks a token of our gratitude for taking their time,
and spending it with us,
judging this competition. Thanks again.
Thanks for attending Shark Tank.
To all of you, don't forget to turn your papers in, on the way out,
and there's ice cream in the back.
