Case 2: Umbisling

Watch the video (link provided)

https://www.cbc.ca/dragonsden/m_pitches/umbisling

Consider the following questions in your discussion

1. Tara and Chaunstin Fung, a brother-sister team from Montreal, appear to have a solid knowledge-base in technology and design.How would you assess their entrepreneurial skills?
2. Have Tara and Chaunstin conducted market research?Tara speculates on market potential.Does she have a realistic view of market share?
3. After a personal investment of $500,000 and five years of development time, Tara and Chaunstin Fung are looking for help to launch the product.What is the danger of a "build it and they will come" mentality? Is cash flow a problem?
4. The UmbiSling's patented features are impressive; does the design warrant a price-tag of $50 to $90?
5. What measures for quality control exist along the value-supply chain for UmbiSling?
6. Tara and Chaunstin Fung are asking $300,000 for 20% of the business.What do the Dragons say about this valuation?
7. How would a business plan have assisted the Fungs in the design and launch of this product?
8. What fatal mistake did Tara make in her presentation to the Dragons? How important is credibility in business?