Shark Tank – Investing in Inventions
Amos Lee
AHTC Summer Institute 2012
Introduction:
Inventors, business, government, and money have always had connections with each other. Inventions or discoveries could have earned large sums of money if it were something the people wanted or needed. The best discoveries come about when it meets a need or want that does not currently exist. New products can be so ahead of the time that they can create a demand that did not exist before. But the question begs to be asked, how do investors know which discoveries and inventions to invest in and which ones to stay away from?
Essential Questions:
á What are the causes and effects of scientific discoveries?
á What are common characteristics that are similar among inventors?
á What are factors that contribute to scientific discoveries?
á What factors make inventions popular?
á What factors make inventions obsolete?
Roles:
Shark Tank Investor Panel
á You are asked to become a member of the business panel on the show Shark Tank on ABC.
á
You will be responsible for listening to pitches
from people who have created a service or invented a product and then decide
how much money you will give them in order for them to develop their product.
In return you get a percentage in their product and company.
The Task:
á In order to know whether an invention or new product will be profitable, you have decided that you need to know more about the nature of scientific discoveries to better position yourself to make a profit. You don't want to miss a great opportunity that others may think is useless but turns out to be very profitable. You also donÕt want to invest in an item that looks promising but becomes a fad and loses money in the long run. You will create a guide to help you make decisions of which products and services you will place a bid for and which items you will pass up.
The Process:
á Begin by watching Shark Tank episodes in order to better understand the nature of the show. Remember you have a very short time frame to bid on a new product or invention. Also remember that the other members of the business panel can also bid on the same project and the inventor can choose to go with anyone of the investors on the panel.
o http://abc.go.com/shows/shark-tank/
á Now begin your research into the nature of inventions by visiting and reviewing the following sites while keeping the essential questions in mind. Fill out the chart to help organize your information.
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Websites |
Causes and Effects of Scientific Discoveries |
Common characteristics of inventors |
Factors that contribute to scientific discoveries |
Popular or obsolete? What happened? |
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á After you finished the chart, write down a guide containing the top two most important characteristics for each column from the chart above that must be present for you to invest in a new product or invention.
Evaluation:
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Chart |
Investing Guide |
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3 |
At least 75% of the chart is filled out using all the websites |
7-8 important characteristics can be attributed to the chart that has been filled out |
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2 |
50% to 74% of the chart is filled out |
5-6 important characteristics can be attributed to the chart that has been filled out |
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1 |
Less than 50% of the chart is filled out |
Less than 5 important characteristics can be attributed to the chart that has been filled out |