This year's finalists
Share your thoughts on the winners of FSB's 2007 Business Plan Competition.
From Jordan, Chapel Hill, NC I am just as shocked as Rod is concerning the SweetRiot third-place winner. If the award was given for the unique style of packaging, so be it. However, if the award was for the chocolate product itself, then this award was ill-gotten.
As a shopper at specialty food stores in North Carolina, I have seen this exact product sold for years (long before the 2005 initiation of SweetRiot). Of course, ideas can always be spawned anew in people without realizing that the same idea has already been developed somewhere else. But, it is curious how she developed this idea while traveling through Europe (the primary market where this product is sold).
Although there is a chance that this idea was conjered up independently, SweetRiot and its founder, Sarah Endline, should not be given credit for inventing the product.
From Ziad, knoxville, TN See http://www.sportsfananza.com – this is a killerstartup. The next youtube like site that could strike it big.
From Ellen Sandles I was delighted to open my November 2007 issue of Fortune Small Business and find that Sweetriot, headed by Sarah Endline, made it to the finals of your business plan competition.
As you can see in our recent announcement the Tri-State Private Investors Network, the longest running angel investor network in the New York Metropolitant region, has made a significant $550k investment in Sweetriot as well as taken a board seat. Our investors are currently reaching out to other angel groups that might be interested in joining the investment.
Of course, we wish Sarah all the best and our investors “very sweet returns.”
From Rod Referring your article “Showdown: Killer Startups, Third place: SweetRiot”
http://money.cnn.com/2007/10/12/smbusiness/showdown_third_place.fsb/index.htm
How can this lame idea win a start-up price?
This food product has existed in Europe ever since chocolate was imported from the colonies and is successful as a high end product particularly in France, BeNeLux and Germany.
It has even been available in the US for years through importers:
http://www.chocolatmichelcluizel-na.com/product_details.asp?product=CACAO150
http://www.chocolatmichelcluizel-na.com/product_details.asp?product=CACAO225
http://www.chocolatmichelcluizel-na.com/product_details.asp?product=COFFEE225
Some manufacturers pack it in 100g tin cans for keeping in your bag and to nibble it on the go.
"Initially I had no idea what the product would look like – I'm not a chef who can turn out culinary art," says Endline, who is based in New York City. "Instead, I went out to the marketplace and designed my product around the trends I found." Blalalah What rubbish!
I can’t believe such mediocrity of "copying a product and pretending it is so outrageously new – ohuhu" wins a price!
Rod
Lyndoco Ltd.
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I have to agree with Rod and Jordan. She didn't even put her own spin on it. Its absolutely ridiculous. I guess I'm going to do the same and get some funds from "Tri-State Private Investors Network, the longest running angel investor network in the New York Metropolitant region," and I'll settle for just $500,000. If your reading this, I assure you I'll copy, sorry innovate something more creative for less than your investment in Sweetriot.