Ben Gulak from Milton, Ontario, Canada was on the TV show “The Dragons Den” last night trying to score some investment money to get his Uno creation off the ground. The reality show is based in Canada on the CBC where contestants pitch a business or product to a group of five high-powered investors who decide whether or not to invest their own money into it or pass.
Gulak managed to get all five investors to cough up 1.25 million (CDN) for 20 percent of his company without even getting to touch, feel or try out one of the prototypes. Ben claimed on the show that he is looking to sell the vehicles for about $5,000 and his goal is to have the Uno available in the market next year, not only in North America but also in the rest of the world.
I first saw this concept online in the beginning of the year which has now shown up on many websites, blogs and magazines over the year. It goes about 15mph and moves with the help of batteries and gyroscopes, working similarly to the Segway. To me it looks less comfortable and practical than the Segway but we’ll have to wait and see.
For some great comments on the pitch from the TV show or to watch the episode itself, click on the links below.