About the Idea Challenge Process

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Objectives

 

  1. Develop one new breakthrough frontend macro copy idea you can promote right after our meeting
  2. Learn a new and invaluable process to share with colleagues in your affiliate
  3. Adapt concepts from your international colleagues to your target market

Process

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More About the Shark Tank Format

The US reality TV show, Shark Tank inspires Step 4, the centerpiece of the session.

Shark Tank has run for eight seasons, 162 episodes, and offered more than $66 million in venture capital to participants. It has won Emmy Awards twice, in 2014 and 2015.

The idea originated in 2001 Japan as Money Tigers before expanding into Canada and the UK as Dragons’ Den and eventually to thirty nations with names like Good Deal and Lion’s Den.

But whether pitching to lions, tigers, dragons, or sharks, the goal remains the same. Entrepreneurs present to a panel of investors in hopes of persuading them to invest in their startup businesses.

The contestants show their service or product (all at various stages of development, sales, profitability, etc.) to five successful entrepreneurs… including Mark Cuban, Lori Greiner, and Daymond John… to gain access to their capital, guidance, and distribution channels.

If a shark likes the business, he negotiates terms of his involvement with the entrepreneur. The typical offer includes funding in exchange for equity. And, at times, the sharks align to work on an offer together or against the other sharks for exclusive access to the “next big thing”.

Example Videos

A short sample of the television program

An entry from one of your colleagues at Agora