In a March blog article we wrote about the difficulty of launching new products, particularly a product that challenges the consumer’s perceptions of food. The product is Chapul’s Cricket Bars; energy bars with protein made of crickets which are frozen and then ground into fine-milled flour. Originally funded through the founders’ personal investment and a Kickstarter campaign, the company has grown and required additional investment. Where to get the funds? Enter: ABC’s “Shark Tank.”
Shark Tank, a popular TV show showcasing investments into small companies, had Chapul founder Pat Crowley pitch a $50,000 investment to the “sharks.” View the video to see what happened…
Group Activities and Discussion Questions:
1. View the Shark Tank episode (Season 5, Episode 21): http://youtu.be/0ipN6kqDAa8
2. Discuss the main concerns for the business.
3. Discuss financing, marketing, growth, additional opportunities.
4. Have students view the Chapul’s Web site, and competitors’ sites: