Tag Archives: Seattle

Why it is so difficult to spot unicorns when they are hatched – I need your opinion

Yesterday I was a judge at the TechCrunch event in Seattle. The meetup had 500+ folks from the Seattle area, with 9 companies being selected to pitch at the event. Over 100 startup applied – some that were idea stage, others with prototype and still others with a few customers and early traction.

TechCrunch Meetup
TechCrunch Meetup

Here are the 9 startups in a nutshell.

1. A bar robot that helps mix cocktails (home, personal use). It comes with 4 ingredients standard and you can add more ingredients (think of vodka as an ingredient and same for tomato juice as an example). It is meant to be counter-top friendly and starts at $99. They are building a prototype.

2. An Outdoor ad projection system for personal messages. According to the founder, as an individual, when you are trying to get your message out, there are few options other than those online (the rest are prohibitively expensive). So, he designed a projection system, which beams the messages at key spots outdoors. They are in 2-3 locations in Seattle right now.

3. Cashless POS and payment system for bar owners. The big problem is that busy bars lose money since it takes 2-5 min to get payment from the users – either with cash or credit card. Many bar owners lose money since patrons lose patience and instead opt to give up standing in line for a drink. This company produces a band (wearble) which you tap for contactless payment.

4. A lock screen app that replaces your lock screen (which most people stare at 50-100 times daily. This will replace it with images and photos from your collection on the cloud or the phone. The app has 100K users already.

5. A Car on demand service, replacing owning a car. Long term leasing or renting of cars. You can “rent” a car when you want for however long you want and keep changing. Need a small car for the weekday, rent it. If you however need a boat-towing Ford F150 during the weekend, no problem, replace your compact car with that for the weekend. In beta at Austin.

6. A curated collection of interactive STEM content (videos right now) for kids between the ages 7 and 15. This product provides way for children to get interested in STEM content watching engaging and interactive videos online. Has many users already.

7. A soccer ball sized Mic for student participation in class. Most teachers have trouble getting kids to listen to their voice, so they use a mic and speakers in the classroom. If they have to get the kids to talk, then they pass another mic in the classroom. This product has a mic built into a soccer-sized ball so kids can “engage” with the class and have fund doing it. Being tested by a few teachers in their classroom.

8. A learning system with games for your dog. They provide hardware that allows your dog to “learn”. These toys come with hardware that can be controlled and upgraded for new toys. When you dog plays with these games, you get notified via your smartphone. Currently looking for beta testers.

9. Uber for beauty. There are some days you want to look your best – party, interview, etc. For those days you can get a beautician “on demand” locally, who will come in and help you get your hair, clothes, etc. right and ensure you look the best. They use local beauticians and are a marketplace. Have a few users trying the service.

So, there you have it. 9 ideas and startups.

If you were the jury and had 1 min to listen to each of the founders, which ones would you pick to “have a deeper” conversation. I am not sure which of these companies will become a unicorn, or if any of them will be venture scale, but they are all promising ideas, and some have traction as well.

We declared one winner – the car on demand company and one runner up – the Uber for beauty. The audience choice was the learning system for your dog.

  1. If you were an early stage investor with $50K to put in one of these companies, which one would you invest in?
  2. Do you think any of them will become large in a short period of time?
  3. Which ones are cash-flow businesses – generating enough cash to be profitable, but not large.

Some of these ideas are really interesting, others I am not sure about at all – in terms of scale.

I’d love your opinion.