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Venture capitalist Tim Draper ’s international pitch competition , “ Meet the Drapers , ” is partnering up withTikTokas it heads into its 7th season . Under the fresh necktie - up , entrepreneurs will cant over their startups to the populace through the poor - form telecasting app for one of the show ’s upcoming episodes . The ecumenical public will then be able to vote on their favourite submission through a landing page in the app follow by a livestreamed pitch recap on TikTok . This will all culminate in the selection of four finalist , who will compete on an episode of the show in front of evaluator in hopes of acquire the $ 1 million investment from Tim Draper .
For TikTok , the slew allows the company to lay itself as a admirer for small businesses at a time when its political platform is under anincreasingly unpopular U.S. Bachelor of Arts in Nursing , while also allowing it to promote its educational oblation .
Meanwhile , “ Meet the draper ” will benefit from the increase visibleness allow for by the popular telecasting app .
While shows like “ Shark Tank ” have bring the melodic theme of the pitching - off competition to the mainstream public , “ Meet the Drapers ” research tech entrepreneurship more directly .
“ We ’re not expect for somebody who invent a gum scraper or … a novel bikini party . That is n’t really what we ’re after , ” theentertaining and iconoclasticinvestor say TechCrunch . “ We ’re funding something that 10 years from now is going to sway the world , ” he bestow .
The episodes being developed in partnership with TikTok will in all probability lean toward consumer engineering science , given the platform and its interview .
This is the first time “ Meet the Drapers ” has ever worked with TikTok . The show was antecedently stream across various platforms , include its own website and YouTube , where the shows fair half a million views . The program caters to a spherical audience , with shows shoot in areas let in Brazil , India , Saudi Arabia , the UAE ( Dubai ) , Denmark and Taiwan , in addition to Silicon Valley — often in conjunction with Draper ’s travels and speaking betrothal in those grocery store . Plus , Draper believes that an entrepreneur can start from anywhere , which is why he appreciate the pitch - off show ’s global footprint .
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“ We actually think of this show as proselytizing and spread entrepreneurship in kind of a viral way , ” Draper articulate .
The pitching generally concentrate on orbit that Draper likes to clothe in , including place and conveyance , the digitization of medicament , AI , bitcoin and more .
The seventh time of year of the show has already been filmed and is being readied for release , draw the TikTok partnership a part of time of year eight . Guest judges for the TikTok show have not yet been denote .
humble businesses that want to be consider will showcase their entrepreneurial journeying in 30- to 60 - second TikTok video . Applications are accepted through September 30 . Live - teem pitch review are Oct. 1 - 3 and success are announced Oct. 4 .
Typically , Draper sets by more cash than the million - dollar bill prize to award to show player , which means even runners - up will profit a smaller investment . On the show ’s website , it ’s noted that the 2d - spot winner receives $ 500,000 and third place gets $ 250,000 .
“ We never talk about this , but we always apportion about two to three million per year , ” Draper notes .
Last year , for example , the smuggler - up got a half - million investment funds while others obtain $ 250,000 investments . A diminished smattering of past participant have also received $ 50,000 investments . One of the more notable winners of the show has been bantam - home startup Boxabl , though that company hasstruggled to reach profitability , and has been underSEC inquiry . Other success have include at - home health examination serviceVivoo , CancerFree Biotech , drone startupBONV , team collaboration softwareBalloonand wellness food companyIt ’s Skinny .
In the finale , the entrepreneurs also have to reveal their valuation , he add .
In total , Draper judge the show has made somewhere around 35 to 40 investment to date .
Overall , as an investor , Draper has plunk for companies like Baidu , Hotmail , Skype , Tesla , SpaceX , AngelList , SolarCity , Ring , Twitter , Docusign , Coinbase , Robinhood , Twitch , Cruise and others , as well as , more controversially , Theranos .
Updated 9/9/24 , 11 AM ET with new dates for applications , reviews and winner , which were recently changed , we ’re tell .
