Yesterday I saw a Shark Tank episode. For those who haven't watched Shark Tank, it is a TV show in which the participants are raising funds for their company or startup. They came to the Shart Tanks (venture capital companies) to show your ideas and ask for investment.
I treated this show quite dangerous because I have learned a lot of things from that. To me, Shart Tank is not a TV show, but rather a real economic lesson that entrepreneurs should watch to understand more how to raise and manage their company.
Inventors without money
In the recent episode, an inventor with plenty of invention licenses came to the stage, handing out his permits to the Sharks and asked for the investment.
$300k for 50% of the company.
That amount is not that much, but he got rejected.
His company is a construction consultancy that is in charge of many projects and inventions. He spent most of his time to invent something new every day and try to put that into the real-life practical approach.
An invention that can solve many problems
He came up with a unique approach to push a significant amount of vapor into the sky, to make rain. At first, I thought this guy was talking about a fantasy story, but he has proved that he could implement science and inventions into real-life and make rain from that.
Odd by true, he proved his invention by showing the previous implementation, which was quite popular in Vietnam. His imagination was about pushing water far by using the power of vapor. By transmitting water into steam, he can eject it with strong force and maintain a low level of water. One of his debate when it comes to the invention is to use his license on making fire exhauster. The new model is capable of pushing a massive fire with minimal water and maintain portable enough to carry around.
but no practical use
The cost for his exhauster system is around $800 per set (fee only). A Shark projected that he must sell at $2500 to maintain profit for the company. However, a necessary item like this is profoundly unable to sell at such a high price (the current alternative is trading at less than $200 and sell widely).
Sharks care about sustainability
Even on the stage, the Sharks shared that they are interested in making a sustainable solution for the society, but without business benefit, it is difficult to make their decision, since they are managing other's money.
So, after some encouraging words, the inventor returned empty-handed.
It's not the first time
After I have finished watching this episode, the feeling left in me is sad and confused. I wonder where is on Earth that we can't support inventors like him? Even though he has lots of inventions, some are implemented, he is still human in need of basic living.
He spent most of his time, his life to research and invented a new solution for our life, but where are we when he needed most? He was 68 when going to stage to raise money for his company, but due to the limited approach, his company may come to an end.
What can we do?
It is quite hard to work on those things. Everyone has something to care about; we rarely invest in something without such a return. But if I can, I want to contribute to him; a little effort might come a long way.
It's sad to see him leaving out empty handed.