On Nov. 12, three City College students presented their entrepreneurial ideas for the annual “Scheinfeld Get REAL Shark Tank” competition.
This year’s participants consisted of Elvis Idunate with his restaurant “Texas Tacos,” Steven Benavidez with “Argonauts Tactical” and John Harmon who presented “Oil Slick Adhesive Remover.” All of the contestants were former winners of the “Scheinfeld New Venture Challenge” and prepared themselves for this competition for six months through the program “Scheinfeld Get REAL Accelerator.”
With $10,000 on the line, the participants have the possibility to “apply it towards the next business milestones,” said Scheinfeld Center Director Julie Samson, “bringing them even closer to making their entrepreneurial dream a reality.”
Following the presentations and a 20-minute discussion, Harmon and his business “Oil Slick Adhesive Remover” were announced as the winners of the competition.
“Wow! I’m truly honored. I’m speechless right now, thank you so much,” Harmon said.
The Scheinfeld Center for Entrepreneurship & Innovation is an organization that describes its own work as supporting “all aspiring student entrepreneurs with the education, resources, and business networks they need to succeed in today’s rapidly-changing globalized business environment,” according to its website.
All the participants had eight minutes to pitch their idea to the judges by presenting their idea and explaining what problems in society it will solve and presenting a financing plan.
Afterward, the judges also had another eight minutes to ask them any questions they had about the project.
The judges consisted of financial analyst and business advisor Greg Loosvelt, CEO of C2 Sales Chuck Santry and founding partner of DT Law Partners Mark DePaco.
The first one to pitch was New Venture Challenge winner Elvis Idunate. He presented “Texas Tacos,” a restaurant that allows the over 27,000 Isla Vista residents to get fast, affordable and portable breakfast tacos that they can already order from home.
Idunate, who has eight years of experience in the restaurant industry and owns two food trucks himself, said that he saw the need for an affordable and quick breakfast place in the area, as there are only three places existing that open before 7:30 a.m.
“To say that opening up a restaurant like Texas Tacos is a passion of mine is an understatement. I just absolutely know it’s going to be successful,” he said.
Next to present was Steven Benavidez who introduced the judges to “Argonauts Tactical,” an issue-based innovation that helps people in the military ease their backs when carrying heavy gear.
About his marketing strategy, the former Marine said that he wanted to “foster a brand community by encouraging the customers to take and post pictures of them wearing the product on social media.”
The third participant John Harmon presented “Oil Slick Adhesive Remover”, a spray with a non-toxic, earth-friendly and sting-free formula that’s mostly designed for use in medicine.
Harmon’s main customers will be people with Type 1 and Type 2 Diabetes, post-surgery medical patients, sports therapist patients and hair salons.
“I really truly feel like I’m solving a problem for a very, very large market,” he said.
Although only one of the participants could win the award, the judges offered feedback and advice to all of the presenters.
“We really encourage you to keep pushing along. Nothing worth getting is easy,” DePaco said to the participants.
“It always ends up working out, if you work hard and keep going at it,” Idunate said in agreement with DePaco.