Your Closet – For Millennials young women who want to wear designers formal dresses (and then send them back for another one). – the allure of “no ownership” is moving beyond housing and cars and has transformed retail shopping entirely. Gone are the days where you save your weekly pay for the expensive shop window beauty you’ve pined for that will look stunning at your formal – now you have the choice of renting a designer dress for a fraction of that cost. The ‘sharing’ phenomenon has transformed other businesses into million dollar enterprises. This generation is savvy, efficient and quick to part with money if it means getting the job done faster. Businesses are now needing to disrupt many markets to entice this generation – does Briella’s business fit the brief?
Super Food Sushi – Australia’s first Vegan Sushi Cafe arrived in the tank sharing the vision for sustainable food and healthy living. My question is it a fad or is it a business that will flourish. There are lot’s of words about how they ‘feel’ But Steve whilst not a fan of the product can be convinced of anything if the numbers work. He says let the numbers speak – and they didn’t.. a large percentage growth of a small base is still a small number… with a big ask of $250k they have to be very clear on the size of the market and how they are going to tap into it. They are not very convincing.
Catch up: Ruby & Ollie Ability Day Care Steve – This was a perfect example of watching an investor step right out of their comfort zone. As Steve wrote at the time, every investor knows the best portfolios are built on solid, rational business choices, an in-depth understanding of the market, and more than a little bit of luck. But, for those of us who have got the start-up bug, we often need to look beyond traditional methods. For early stage businesses, especially tech start-ups – you look at the founders, their skill and drive, the potential of the company, the problem they are solving, the market potential and the quality of the product and the intellectual property. They have found their property – renamed from Hummingbird to Ruby & Ollie… they are almost set to launch.
Red Burlesque – I was not sure what to expect when this pitch started…Adam presented to us one of my favourite things – red lipstick! But why was it different? An app to try on the best shade to suit your skin complexion? A great app for trying on the 21 shades digitally (wonderful Andrew). With no trade marks – we see danger. Whilst he speaks of entering retail – I know how cluttered the space is – and finding the positioning can be really daunting. With little consumer data available to them, Adam was facing an uphill battle…
2WHEELBoard – Demitrias and his son Utah were a dynamite team – adventurous, innovative, loveable. They presented to us the 2WheelBoard which was invented in Australia, and made in Australia. It was pitched as the first and only of it’s kind. With inflatable wheels, this board can be ridden on grass, dirt and concrete. Will their infectious and energetic enthusiasm be enough to get one of us across the line? As soon as we start to question who owns the patents – the conversation begins to go sour… but can it be saved.
Another great week in the tank… Innovation in SkateBoarding, LipSticks, Formal Dresses, and Vegan Sushi… clear demonstration that we are a land of ingenuity.
The nice end of the tank…. and our many faces
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