By COLlive reporter
It could be called one of the most exciting business events in the frum world. 6 successful businessmen sitting in front of you, ready to open their wallets and bring your company or service to new heights.
“The Launch Pad,” a live pitching of business opportunities, was the highlight of the LTB 2013 convention presented by the Ptex Group on June 11, which attracted a crowd of over 500 Jewish business and trade people.
Held at the posh Dyker Beach Golf Course in New York, it was aimed to create an innovative platform to help people in the frum Jewish community achieve long-term business growth and advance their careers.
The investment exchange was modeled after ABC’s popular Shark Tank reality TV show, where a panel of wealthy investors are offered to invest for a stake in an invention, company or product.
Shark Tank alum Kevin Harrington, Chairman and Founder of TVGoods, was on the investment panel along with J. Morton Davis – Chairman and Owner of D.H. Blair Investment Banking Corp., Chesky Kauftheil – Principal at ACG Equities and Chairman of H3 & Co., Neil Rock and Seth Fireman – Founders and Managing Partners at FireRock Capital Partners and Mark Bess – President of Chesed Direct, LLC.
The Launch Pad was sponsored by Brooklyn Financial Group (BFG) and was moderated by businessman Shea Rubenstein, Executive Vice President of the Jewish Community Council of Marine Park in Brooklyn. A total of $475,000 was given in secured investment capital.
VIDEO: Recap of The Launch Pad
Proposal 1: Eli Rosenbloom of FR Conversions
FR Conversions features handicap emergency vehicles and wheelchair vans
What happened: Harrington and Davis bowed out. Rock and Fireman offered to give $100,000 each but want 20% of the business. Bess offers another $100,000 for another 20% of the business.
The deal: Rock and Fireman are investing $250,000 for 25% stake.
Proposal 2: Ari Ben Shimon of Extra Fuel
ExtraFuel holds 5 worldwide patents, and claims to be the world’s first emergency non flammable fuel. It is EPA approved, DOT approved, and NFPA approved non-flammable gasoline derivative. It has the same properties of gasoline, however it is not gasoline and safe to store for out of gas roadside emergencies, natural disaster preparedness.
What happened: Harrington offers $100,000 for 20%. Neil and Fireman want to be part of this deal. Ben Shimon said he needs more money and this makes Harrington back out. Ben Shimon then says he needs support and marketing more than money. Harrington, Rock and Fireman are back in…
The deal: Harrington, Neil, and Fireman offer $100,000 for 20%
Proposal 3: Joel Schwartz of Parlor.fm
Parlor.fm is the first voice-based social network. Unlike Facebook (text based) and Instagram (image based), Parlor is a mobile app that allows friends to converse with each other by speaking based on their interests – whether business or social.
What happened: Investor Davis needed to leave for personal reasons and was switched with Kauftheil. Bess offers to give $250,000 for 51% and if it grows to $25 million after evaluation in 1 year’s time, then he will go back down to 10% stake in the company. Rock and Fireman offer the exact same for 50%. They combine their offers to $300,000 and 51% and going down to 10% if reaches $25 million in a year.
The deal: No deal. Schwartz says he is confident in other deals and does not want to give so much power over his company.
Proposal 4: Moshe Teitelbaum of MongoSEC
First ever encrypted VoIP, with no phone delays and protection privacy.
What happened: Neil and Fireman offer $125,000 for 45%
The deal: Teitelbaum takes it.
Proposal 5: Matis Swerdlof of Dsmart
DSmart creates touch-screen electronic cash registers that is given free to shops and supermarkets. The catch: The screen facing the customers broadcasts ads based on their purchases. Promotional offers relating to the ads are printed on the receipt at the end of the sale.
What happened: Swerdlof requests a $2.5 million investment.
The deal: Investors weren’t ready to spend that amount, but said it was an intriguing idea.
Proposal 6: Elliot Grossbard of SupplyMart
A business supplies and equipment company in Miami, Florida, that offers office supplies, copiers, furniture, paper, ink and toner.
What happened: No deal was offered.