Shark Tank Startup From Utah Wins National Small Business Video Contest

You may have seen Kisstixx on ABC’s Shark Tank. The innovative new lip balms that have some kind of attraction, secret formula that makes kissing more compatible, was able to garner a $200,000 investment from Mark Cuban.  When Cuban is asked about Shark Tank startups that he really likes, he often references Kissstix.

The Utah Valley University student founders of Kisstixx, Dallas Robinson and Mike Buonomo, shared their story via video in a small business contest and were one of four winners selected by the U.S. Small Business Administration.

“We are so proud of Dallas and Mike. They are the quintessential entrepreneurs; innovative, driven, disciplined and always learning,” said Shauna Theobald, director of UVU’s Woodbury School of Business Entrepreneurship Institute to UtahPulse.com. “In spite of their rapid ascent into the national spotlight, they remain committed to connecting and collaborating with other startups and with proven mentors. They’ve demonstrated the power of leveraging the resources and networks of the UVU startup community.”

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Shark Tank: When A Startup Gets Thrown Back

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If If you’re a regular reader of Nibletz, the voice of startups everywhere else, then you should also be a loyal viewer of The Shark Tank on ABC. Despite the story I’m writing right now it’s still my favorite television program of all time. If you’re not familiar with The Shark Tank on ABC, it’s a show that pits real startups and entrepreneurs against self made millionaires; Robert Herjavec, Kevin O’Leary, Barbara Corcoran, Daymond John and Mark Cuban.

It must be heart breaking to be like Oregon entrepreneurs Sue Krukopf and Nancy Bush who pitched their startup, mywonderfullife.com, on the season premiere of Season 3 of the Shark Tank. While they had a good enough idea to get past an open casting call and other preliminary judges, when they made it to the tank, all five investors balked and they walked away with nothing. One of the rules of the Shark Tank is that you have to convince at least one of the “sharks” to invest exactly what you’re asking for or more, or you walk away with nothing.

What has to be even more heartbreaking is cases like Keeley Tillotson and Erika Welsh (coincidentally also from Oregon) whose Wild Squirrel Nut Butter startup was featured on this past Friday’s episode of Shark Tank. This Friday Shark Tank actually ranked number one out of all of the programs in it’s time slot, so millions and millions of people watched as Tillotson and Welsh, two quirky college students pitched their business.

In their episode it got down to the wire. Four of the sharks were out and only self made real estate mogul, turned shark, Barbara Corcoran was left. The girls were looking for $50,000 for 10% equity in their company. Corcoran countered with $50,000 for 40% equity of their company.

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UPDATED: Oregon Startup: Wild Squirrel Nut Butter Wins Investment On Shark Tank

(photo Sally Ho/The Oregonian)

We are diligently working on a piece now highlighting a string of investments that the Sharks have pulled out of since the show has aired.

In the case of Wild Squirrel Nut Butter, Shark Barbara Corcoran pulled out of the $50,000 investment for 40% that she had negotiated with the girls on the show.

Keely and Erica penned this tumblr entry after the embargo lifted on Friday highlighting the fact that Corcoran had pulled out of the investment, although they gained a lot of exposure and insight from Ms. Corcoran.

We are going to elaborate in a much larger piece about Shark Tank, which is still my favorite show of all time, however we want to add here that it’s not the fault of the Shark themselves. We hold accountable the producers who know well in advance that a shark has pulled out of the deal before airing. The producers of Shark Tank, Mark Burnett and ABC are doing the viewers, the startups and the sharks an injustice by not providing an update prior to airing that the investment didn’t actually work out. 

There is plenty of time between the taping of the episode and the airing of the episode to provide the back story.  The sharks are using their own money and they have to do their due diligence. Shark Tank provides a disclaimer in the beginning of every episode announcing it’s the sharks own money and that there is no pitch to the audience. They should also provide the same service at the end of each episode with an update as to what happens.

Below is the original story that we published this morning before being pointed to Keeley and Erica’s blog.

Two college girls from Oregon were featured on this week’s Shark Tank. They were cute, preppy, peppy and a little bit nervous, as anyone would be in front of the Shark’s on Shark Tank.

They came into the episode with their story about drive but didn’t have the numbers to attract an investment from Mr. Wonderful Kevin O’Leary, Mark Cuban, Daymond John or Robert Herjavec however they did catch the eye of real estate mogul turned Shark Tank investor, Barbara Corcoran.

Corcoran had made a gamble on a duo of political workers turned Barbecue company founders last season with their Pork Barrel Barbecue sauce. With the help of Corcoran the duo behind Pork Barrel was able to drastically improve their sales and distribution and they even opened up a restaurant.

The episode featuring Keeley Tillotson and Erika Welsh was taped last September, but as with all reality shows they are under a strict embargo from speaking a word about Shark Tank until after their episode aired. Prior to Friday nights showing, Shark Tank warned the girls to back up their website and expect lots of orders.

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Utah High School Teacher Organizes Entrepreneurship/Startup Google+ Hangout With Shark Tank’s Daymond John

Daymond John the entrepreneur and brains behind the worldwide brand FuBu has been speaking to folks about the trials and tribulations of startups and entrepreneurship for years. Since he took his business from the trunk of the car and made it a recognized brand on every street corner in America and around the world John has been passionate about business. It also helps that he has been one of the panelists on ABC’s Shark Tank for all three seasons.

That’s why Utah High School Business teacher Jeff McCauley was resilient in trying to contact John for some kind of entrepreneurship event with his students. Originally McCauley had wanted to Skype with John and his class however that idea took a pivot in the year it took to nail a date down. What ended up happening was nothing short of phenomenal for the over 100 high school kids around the country that attended the hangout on Google’s Google+ Hangout platform.

McCauley is no stranger to Shark Tank either. He admits to showing the program to his students to show real life examples of the lessons that he teaches everyday.

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Self Funeral Planning Start Up To Be Featured In Season Premiere Of Shark Tank

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When the next season of ABC’s Shark Tank starts two women from Minnesota will be pitching their unique start-up called Mywonderfullife.com.

Mywonderfullife.com was founded in 2008 by Sue Kruskopf and Nancy Bush. The website helps people plan their own funeral. Although the business is 4 years old these two women have been bootstrapping mywonderfullife.com as a side project and are hoping to get a much-needed cash flow injection from the judges on Shark Tank.

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