This week, co-host Deanne Bell meets with Val inventor Savannah Peterson. Val makes videos more polished with its “video, audio and lighting” focus.
Val is a mobile livestream studio for smartphones that makes video streaming and production look and sound better. And the best part? “Your selfie arm will never get tired,” according to their Indiegogo. It comes with an arm that allows for both portrait and landscape shooting, LEDs, a built-in microphone and speakers. It works with any smartphone and can also accommodate iPad Minis.
Bell notes that it’s very stable, but thinks it’s a bit bulky and not very portable. Bell is also concerned about knock offs and that she wouldn’t be able to actually build a brand. Their crowdfunding campaign failed because the timing was extremely off. Elisa, the company’s partner, has already invested more than $300,000. Bell is worried given that the technology world moves so fast and it could move on without Val.
At Bluefish Concepts, Bell explains that the design needs to be changed, including making it smaller and adding a handle. The team successfully made it smaller and more portable, complete with an extending handle. It also now has brighter lights and a directional microphone.
At the field test, Bell has millennials, social media influencers and technology journalist Kara Swisher use Val to see how well the product works. They first just livestream with a phone and then take Val out to see how it compares. They all agree that using Val is more stable and think it’s much higher quality than a selfie stick. They would all use Val, but they worry about knockoffs and also believe the price needs to be much lower.
They then meet with investor Alicia Syrett, asking $500,000 for 30 percent equity. Syrett wonders how Val can be expanded into more than just a product, to which Peterson says accessories could be developed, in addition to higher-end versions. Syrett also worries about knockoffs.
She likes the idea behind it and the livestreaming potential, but ultimately does not make an offer.
“Make Me A Millionaire Inventor” works to turn a million dollar idea to a million dollar invention. Hosts and engineering experts George Zaidan and Deanne Bell find entrepreneurs with revolutionary ideas, take a look at their prototype and help take the product to the next level. According to CNBC, “Top engineers scour the country looking for amazing ideas they’re convinced can make big money. They’ll track down the inventors and give them a second chance to bring their ideas and dreams to life.” The hosts also have the opportunity to hear their pitch before taking the product to an investor, as well as connect with the inventor by hearing their backstories.
“Make Me A Millionaire Inventor” airs every Thursday night at 10 p.m. on CNBC.
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