“Shark Tank” embraced the lace.
A pair of Michigan State University students scored big on this week’s episode of “Shark Tank,” ABC’s entrepreneurial business show, by locking down a $300,000 deal with two “Sharks” for their shoelace company, BRCĒ, which promises no more untied sneaker laces, ever.
MSU seniors Madhav Aggarwal and Tanvi Gadamsetti pitched the “Sharks” on their company, seeking a $300K investment for a 10% stake in their business. BRCĒ, pronounced “brace,” uses “patented microscopic interlock technology” to ensure no more pesky untied shoelaces.
They launched BRCĒ at Sneaker Con in Detroit in 2024, they said, and to prove the strength of the laces — which cost 52 cents to manufacture and retail for $19.99 — Aggarwal used a pair to lift up a 25 pound kettle bell.
The pair met at MSU, where both are engineering students, and they shared their stories with the panel of “Sharks,” which included guest judge and Uncle Nearest Premium Whiskey co-founder Fawn Weaver — daughter of former Motown songwriter Frank Wilson — along with Kevin O’Leary, Robert Herjavec, Lori Greiner and Daniel Lubetzky.
Gadamsetti’s parents moved to the U.S. from India about 25 years ago, and her father died during the COVID-19 pandemic.
Aggarwal grew up in New Delhi, India, and came to the U.S. in 2022. He is the first member of his family to board an airplane, he said.
His family sold their home to afford his one-way ticket to the U.S., “so I can’t fail,” he said. “It’s just not an option.” He said he binge watches episodes of “Shark Tank,” dozens of episodes daily, on repeat.
“You are the American dream,” Lubetzky told him.
Several of the “Sharks” made offers to the innovative shoelace sellers, Weaver wanting in at $300,000 for 25% of their company, along with a ROFR, or right of first refusal, on their next invention.
O’Leary scoffed at Weaver’s offer — “I can’t stand that level of greed,” he sniffed — and offered $300,000 for 20% equity in the company, along with 20% on unit volume sales until he gets back $900,000.
“As much as I’ve watched you since I was a kid, we do not like that offer,” Aggarwal told “Mr. Wonderful.” “We apologize.”
In the end, Weaver and Lubetzky came together on a deal to offer the duo $300,000 for 20% of their business, along with that right of first refusal on their next idea. Everyone shook hands and walked away happy.
“My father isn’t here today, but this is a dream come true,” Gadamsetti said. “My only regret is he isn’t backstage with me.”
The episode is available to watch on Hulu. “Shark Tank” airs at 10 p.m. Wednesdays on ABC.
agraham@detroitnews.com
This article originally appeared on The Detroit News: Michigan State students score big on ‘Shark Tank’
Reporting by Adam Graham, The Detroit News / The Detroit News
USA TODAY Network via Reuters Connect
