Featured Shark Tank Post
The Smart Wheel on the Shark Tank
DUIT - Driving Under The Influence of Texting - Season 4 - Episode 418 - 2/15/2013
|The 6 Inventioneer's with one of many|
Awards they have won with the
Smart Wheel Technology
What makes this soon to be Success Story so unique is the fact the 6 teens did not stop with just the invention of the Smart Wheel but they have continued to evolve
and make Driving While Texting their mission to warn other teens about how dangerous this habit is. They are now working on an educational program to share their story in classrooms across the country. For instance, when I took Driver's Safety Class back in, ah, we'll more then a few years ago, we were taught to keep your hands at the 10 o'clock and 2 o'clock position. In fact I even remember that question on my first driver's license test. This was before air bags were the norm in new cars and it was considered the safest place to put your hands on the steering wheel. We'll according to the Inventineer's SMART Wheel website (and the actual design of the Smart Wheel Technology) the correct position is now 9 o'clock and the 3 o'clock position. Why? When the air bag is deployed, your hands holding the steering wheel are likely to be blown off and hit you right in the face. At the 9-3 o'clock position they are most likely to be blown to the side and causing less injuries. That is something I most likely would of never thought of had it not been for this article. I guess you really can teach an old dog a new trick.
| President of the United State's|
gets behind the Smart Wheel
The 6 Inventeer's are sister's Emily, Paige and Kate Balcom, and Jaiden, TJ and Bryeton who have secured the patent on the Smart Wheel and are now in the process of expanding on it's awareness with the DUIT (Driving Under the Influence of Texting) Campaign to teach all of us how to be safer driver's. At the Don't DUIT Website there is several good articles that I think a lot of drivers really need to read. Currently at this time (early Monday Morning) they have a counter showing just under 700 visits. It will be interesting to go back there after the Shark Tank airs this Friday Night and see how much their new site explodes in the number's. In fact, if your looking to do a good deed today, why not share that site with your Friends on FaceBook and have them share it with theirs? You don't have to drive very far these days to see this is in fact, a Very Big Problem.
So how is the Sharks going to treat these mini Shark Inventioneers? Knowing that what ever happens on that show will shape these 6 aspiring inventors for the rest of their lives, it's hard to imagine even Kevin O'Leary biting down to hard. Then again, we are talking about Mr. Wonderful who makes a million dollar offer during this episode. Could it be that the Smart Wheel has already secured a deal with a major car manufacture to implement it's technology into new cars? Even if they don't get a million dollar offer, I still believe (hope) they get a deal with at least one Shark.
What they are trying to save is worth a whole lot more then all the money in the entire world..
Visit the Smart Wheel Website
Don't DUIT Website
Follow The Inventioneers on Twitter
Smart Wheel Inventioneers Update after the Shark Tank
The six highly motivated inventioneer's entered the Shark Tank looking for $100k for their Smart Wheel invention in exchange for a 15% stake in the business. They need $75k to finish the industrial design and get it ready for manufacturing. Suggested retail price is $200 and estimates for $50 to produce. Kevin O'Leary likes the presentation but doesn't like the fact it will not stop someone from driving and texting but will only record that it happened. He suggests they have it electrocute the driver if they take their hands off the steering wheel.
They break the news that the most powerful person on the earth, President Obama, has put his seal of approval on this and that both of his own Daughter's will be using the Smart Wheel when they are old enough to drive. Robert Herjevic likes the product but the presentation maybe a little confusing. They are the Inventineer's that invented the Smart Wheel and that's what they need the capital for. He suggests that they licence the Smart Wheel and keep inventing new products. Robert offers them the $100k for 30% of the business contingent on a big car company interested in a licensing deal. Mark Cuban steps in and says he would be interested in going in on the deal but he wants to drop the contingency on the deal. They can take the prototype directly to the car manufacture and have them in on the final design saving the much needed capital for other expenses.
DEAL - The Inventioneer's get a deal with Mark Cuban and Robert Herjevic for the full $100k and gave away only 30% of the equity.