Photo via FacebookTomorrow, D.C. entrepreneurs can vie for a televised pot of start-up money. ABC’s reality-tv show Shark Tank is hosting two casting sessions in the region that could send contenders on a path to pitching their products on the show’s upcoming season. The nationwide call is sponsored by D.C.-based firm Values Partnership to attract diverse voices, including minority business owners.
Last year, the company, which provides resources to faith-based and grassroots organizations, held 11 Shark Tank casting events throughout the country. At least two black contestants in attendance, Tony Gauthier of Spretz and Sarah Ribner of Piper Wai, made it on the show’s 7th season, according to Black Enterprise Magazine, which also notes that African American entrepreneurs have been represented and earned investments since the show’s first season.
Brandon Andrews of Values Partnerships says that they’re also looking for diversity beyond race, according to the Washington Business Journal, which first reported that the casting calls will take place in Anacostia and Crystal City. That means “making sure women are represented, making sure our veterans are represented, making sure that the participants on the show are looking like the audience that is watching the show—that’s our first mission,” Andrews told WBJ.
Since it first premiered, the show’s “sharks” have invested $50 million in products. But even when deals aren’t made on the show, many entrepreneurs who brave the stage walk away with public success.
In November 2013, sisters Donna and Rosy Khalife appeared on the show to pitch Surprise Ride, a D.C.-based company that lets parents subscribe to boxes with educational activities for kids. “It was a really great experience,” Rosy told Elevation DC, adding that Lori Greiner “went as far to say that it was the best gift box she’s ever seen.”
The sisters received an offer from Robert Herjavec but declined because “it was obvious that our values were not aligned with his values.” But after the show, they received supportive emails from kids and parents, began selling boxes across the country, and have since generated 1 million in revenue. Plus, for the first time in Shark Tank history, an investor came back to visit the contestants and made them offer. This time, they accepted the $50,000 (for a 2.5% stake in the company) from Kevin O’Leary, which was shown on an episode of Beyond The Tank that aired earlier this year.
Tomorrow’s castings are on a first come, first serve basis. Interested parties can register for the morning session at 1776 in Crystal City or the afternoon iteration at the Anacostia Arts Center in Southeast. The District event, which is also sponsored by the Deputy Mayor for Greater Economic Opportunity, will be followed by a public panel discussion, featuring venture capitalists among others, at 6 p.m.
The casting website points out that although Shark Tank occasionally features entrepreneurs who have a “good idea,” most of the business owners already have a demand for their products through “user acquisition, sales, and/or intellectual property protection.”
