What Happened to SMARTwheel After Shark Tank?
What is SMARTwheel?
SMARTwheel is a steering wheel that is ergonomically built and can be quickly snapped into any steering wheel. Sensing technology alerts the driver to common distractions with lights and tones, significantly reducing distracted driving events.
In the case of inattentive driving by a teen driver, the device would also warn parents or guardians. Distracted driving is still an issue in many countries, resulting in accidents and deaths.
A group of youths and young entrepreneurs ranging in age from twelve to eighteen founded Smart Wheel. The SMARTwheel was built by Paige, Emily, and Kate Balcom, as well as TJ, Jaiden, and Breyton Evarts.
Distraction is common among young teenagers, and the entrepreneurs were driven by a great desire to make juvenile driving safer. The youth want to see SMARTwheel installed in all autos throughout the world in order to save lives.
Who is the founder of the SMARTwheel?
SMARTwheel was founded by Paige, Emily, and Kate Balcom, as well as brothers TJ, Jaiden, and Breyton Evarts.
Originally, the Inventor had gathered to participate in a Lego construction challenge. Their inventive, innovative, and energizing minds, on the other hand, led them to the SMARTwheel.
Safe Motorist Alert for Texting Restriction is an acronym for Safe Motorist Alert for Texting Restriction. As part of their Don’t DUIT (Drive under the Influence of Texting) public awareness campaign.
These kids designed and built a high-tech device to help prevent the dangerous behavior of texting while driving, which kills far too many youngsters each year.
They want to undertake a thorough education campaign to educate children about the dangers of texting and driving.
The SMARTwheel creators are members of The Inventioneers, a student club that “creates tomorrow’s solutions today.” The firm is the owner of four patents.
What Happened to SMARTwheel’s Shark Tank Pitch?
TJ Evarts, Jaiden Evarts, Breyton Evarts, Paige Balcom, Emily Balcom, and Kate Balcom are all between the ages of ten and sixteen! They exhibit their product in Shark Tank episode 416. They are looking for a Shark to collaborate with and help with marketing.
TJ Evarts, Jaiden Evarts, Breyton Evarts, Paige Balcom, Emily Balcom, and Kate Balcom entered the Shark Tank in seeking of $100,000 in return for a 15% stake in their company, which worth $666,667.
The six make an appearance on Shark Tank and represent a setting in which teens are fooling about, wearing cosmetics, and using mobile phones.
Every day, 18 youths are killed as a result of careless driving, according to them.
The Sharks were satisfied with their performance, although they have some reservations.
Mark Cuban wants to know if the product was available. TJ refers to the current model as a prototype. The adolescents want to sell over the internet, with the potential to grow into retail locations. The manufacturing cost is around $50, whereas the selling price is $200.
Instead of just informing and recording, Kevin O’Leary believes the gadget should deliver “120 volts” to discourage inattentive driving.
According to Breyton, MIT research indicated that the Smart Wheel will improve 90 percent of drivers’ driving practices. The kids put the icing on the cake by mentioning that President Obama had appreciated the product.
Daymond John would “like to be a part of this,” but he doesn’t believe he has anything to offer. He exits.
Teenagers, according to Barbara Corcoran, “want to feel safe, but they don’t want their parents looking over their shoulders.” She isn’t persuaded, and she goes out as well.
Kevin O’Leary believes that the kids “will one day come up with a fantastic concept that I can invest in,” but he isn’t interested.
Robert Herjavec believes that the product should be licensed to automotive manufacturers, freeing up the children’s time to focus on other projects.
He strikes a deal with the team, offering $100,000 in return for 30% equity in the company, on the condition that the invention is licensed to a car company.
Mark Cuban wants to be a part of the deal, but he wants the contingency removed from the offer. They accepted an offer from two Sharks and walked away with the deal.
What Happened to SMARTwheel After Shark Tank?
The deal with Robert and Mark was never completed since they departed the pitch with the contract from two Sharks. In 2015, they launched an unsuccessful Indiegogo campaign to produce the Smart Wheel, helmed by now-nineteen-year-old CEO TJ Evarts.
Since then, the product has received publicity on NBC’s Today, MSNBC, and other important shows, as well as a positive response from the audience.
The youngsters were given the opportunity to propose their plan to then-US President Barack Obama at the White House, which he endorsed.
SMARTwheel does not yet have any products on the market, but it maintains its social media sites and website while seeking suitable partners for manufacturing and eventual sales. They are confident in the device’s capacity to save lives and prevent preventable accidents and fatalities.
The firm was still in operation in January 2022, with yearly revenue of more than $4 million. Pre-orders for the device are still being taken on the company’s website. TJ Evarts is still the CEO, and he and his sisters are still employed by the company.
SMARTwheel’s Net Worth
During the pitch, the firm’s value was $666,667; however, the company is still in operation with yearly sales of $4 million, thus the company’s net worth might have been more than that of pitch.
SMARTwheel FAQs
How does the SMARTwheel work?
The SMARTwheel is a windshield-mounted unit that uses car sensors to detect when the driver is distracted with their phone. When it detects this, it automatically activates a loud alarm and directs the driver’s attention back to the road.
Where can I buy the SMARTwheel?
Currently, customers can purchase the SMARTwheel online directly from their website or via Amazon.com for $200.
Who is the SMARTwheel for?
The SMARTwheel is a product designed for adults; however, adults can also use it. This product is designed for teens that drive or are involved in any sort of car accident.
Is the SMARTwheel available for sale?
The exact availability of this product is still currently unknown; however, the team has stated that they are working on creating a device that will be released to the public.
Can adults use the SMARTwheel?
There are no indications that adults can use this product, but it is designed for adults/teens. Teens that use technology and drive a car can greatly benefit from using this product.
SMARTwheel has given teenagers the freedom of using their devices in a safe environment while being alert when driving. Parents are happy that their teens are safe drivers and will not be involved in accidents caused by texting and driving.
What are the features of the SMARTwheel?
SMARTwheel has many features and benefits. These include: It is a windshield-mounted device that is designed to be used by teens when they are driving especially if they are using their phone while driving.
It has two modes: Normal Mode and Alarm Mode. In normal mode, it will notify the driver if they have been driving for more than 15 – 20 minutes without looking at their phone.
What are the benefits of the SMARTwheel?
The benefits of SMARTwheel include: It is a device that can increase safety in the car by alerting drivers when they do badly on their driving habits.
It is a product that can be used by teens that drive their cars and will help them stay safe and avoid accidents.
How old do you have to be to use the SMARTwheel?
Size restrictions on the SMARTwheel are set by the manufacturer, and these restrictions will vary by model. If a teenager is concerned about their size, they can check online.
When and where was the pitch made?
The pitch was made on the show’s sixth season, episode 8.
What was the pitch?
The pitch was to offer a device, called SMARTwheel, which will help drivers avoid accidents caused by distracted driving.
What is SMARTwheel made of?
It is made out of two main parts: a device that attaches to the windshield, or the bumper, and a control unit. The unit connects to the smartphone via Bluetooth to receive notifications on the driver’s habits.
What is SMARTwheel return policy?
The return policy of the SMARTwheel is comparable to any other return policy. If customers are not satisfied with their product, they can return their product.
However, they will have to pay for shipping and handling. Also, SMARTwheel does not accept returns for any opened units or items that have been used outside of their original packaging.
How do I make payment to SMARTwheel?
PayPal is the only method of payment accepted by SMARTwheel. However, PayPal accounts can be created using a credit card, which is convenient for both new and existing users.
Where does SMARTwheel ship to?
SMARTwheel offers free shipping for all of its products worldwide. They have warehouses in California and New Jersey, which serves the U.S., and they will ship from the closest warehouse to their location.
