Shark Tank Vietnam episode 14 - season 6 (aired on the evening of January 1 on VTV3) featured exciting capital calls from 3 startups: Ede Cafe, which produces according to a unique recipe founded by an Ede man; Clever Mushroom - a startup that applies technology to grow mushrooms, and Hoang Anh Da Lat, which applies the mascot Hana to souvenir products, games, books, and movies.
Hoang Anh Da Lat is a company that creates, develops and manages mascots.
Shark Hung Anh assessed the startup's profit margin as "extremely low"
Shark Tue Lam believes that building a mascot takes a lot of time.
Hoang Anh Da Lat is a company that creates, develops and manages mascots. In nearly a year, the company has created nearly 100 Hana mascot images, focusing on regional and agricultural product versions to promote Vietnamese culture.
With the image of little girl Hana, Hoang Anh Da Lat applies it to the production of 5 product groups: souvenirs; creative toys for children; books, comics; cartoons; educational and entertaining games. Currently, Hana mascot is on shelves at developed tourist destinations such as Hoi An, Sa Pa, Da Lat. Revenue from June to the end of November 2023 reached 1.2 billion VND.
Hoang Anh affirms that her company is a lean startup because her sales process starts with the introduction of drawings, and only when a customer places an order does the product begin to be manufactured. Up to now, although it has revenue, Hoang Anh Da Lat has not yet made a profit because it has to deduct initial investment costs such as design fees, product R&D (research and development), AI technology, etc.
Shark Minh Beta believes that lean startups need to focus on a few key products to exploit market data before expanding development because "it is quite risky to deploy massively when data is not enough". That is also the reason why the Chairman of Beta Group refused to invest.
Shark Binh, because he did not understand the field of operation of this startup, did not invest.
Hoang Anh affirms that she is a lean startup because her sales process starts from introducing drawings, and only when a customer places an order does she produce the product.
Shark Hung Anh decided to withdraw Golden Ticket worth 100 million VND to exclusively deal with startup E De Café
Shark Hung also left the deal because he thought the startup needed to invest in the product first instead of developing the system. Shark Binh, because he did not understand the startup's field of operation, did not invest.
Shark Hung Anh assessed the startup's profit margin as "extremely low" and warned of the risk of competition because "now AI can draw everything, and draw very quickly". He also left the deal. Shark Tue Lam said that building a mascot takes a lot of time, even decades. She advised the startup to focus on building a good enough story, and only after many people are interested can they expand their product range and refuse to invest.
The expected deal ended in episode 14, season 6 of Tank Vietnam , unfortunately Hoang Anh Da Lat did not get any nod from the sharks.
As for founder Y Pot Nie’s products, his company’s coffee is roasted by hand and by machine according to his own recipe. In response to the sharks’ concerns that others might copy his recipe, Y Pot Nie confidently said: “For me, I am learning every day and have my own recipe. I still see coffee as coffee, but when I drink my coffee, I assure the sharks that it is ‘high’.”
Shark Hung pointed out interesting things in the startup's business model such as the founder being an Ede person, the coffee is hand-roasted according to a unique recipe, has a special smoky smell...
Shark Hung Anh said he will invest 2.5 billion in exchange for 20% of shares, and the remaining 2.5 billion is a zero-interest convertible loan.
Shark Minh Beta also made a similar offer, causing Shark Hung Anh to quickly decide to withdraw the Golden Ticket worth 100 million VND to exclusively deal with the startup.
Finally, Y Pot Nie accepted Shark Hung Anh's investment proposal and received a golden ticket of 100 million VND. The deal was successfully closed.
Startup Clever Mushroom has also called for investment from shark Hung Anh, opening up the hope of bringing smart mushroom growing technology solutions developed by Vietnamese people to the world.
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