'Shark Tank' scouts talent at UC Berkeley

Producers of ABC's hit television show ?Shark Tank" were in the Bay Area Wednesday searching for their next entrepreneurs.
February 26, 2014 5:42:16 PM PST
Producers of ABC's hit TV show "Shark Tank" were in the Bay Area Wednesday searching for their next entrepreneurs. They interviewed at UC Berkeley's Haas School of Business where the chances of finding the next big thing are high.

Things went swimmingly well. The show's producers decided the Haas School of Business was probably a good place to cast their net in search of great startups. "It's great for me to get a sense of your business, get to know you a little bit," one of the producers told an interviewee.

It's good for them to get to know the candidates because they could end up on the show, were entrepreneurs get to present their business ideas to investors and if they are successful, one of the so-called "sharks" ends up financing the start-up in exchange for a percentage of the business.

Why the Haas School of Business? Well, there is potential there. Just look at the list of successful alumni and their startups.

"Students here at Haas School of Business have that entrepreneur type of mentality. They're all here for one reason," one student said.

"Well not a millionaire, but I just want to be successful," Mor Peretz told ABC7 News. He has a clothing line idea.

"We're starting to get the product going right now, but we haven't made any money. So it's really tough to go ahead and see if these investors would want to invest just off of potential, but I don't know. That's why I'm here to learn," he said.

Andrea Lo started "Piggybackr," a crowd-funding site. She now needs more investors. "Helping a lot of these schools and communities get into crowd-funding so they can raise more for their schools, sports teams," she explained.

Last season, 40,000 entrepreneurs tried to get on the show.

"If they do want to move forward with you, we'll give you a call in about a week," one producer told a candidate.

In show business, that means, "Don't call us. We'll call you."

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