Two young entrepreneurs who transformed a Michigan State University class project into a business walked away from ABC’s Shark Tank with a $300,000 investment deal.
Madhav Aggarwal and Tanvi Gadamsetti, founders of BRCE, appeared on the latest episode of the popular investment show and attracted interest from two sharks: Fawn Weaver and Daniel Lubetzky.
Aggarwal and Gadamsetti took their initial class project beyond Michigan State University’s campus to develop the ankle-stabilizing technology. The shoelaces target athletes who need additional support during physical activity.
The company creates specialized shoelaces designed to stabilize athletes’ ankles in shoes, cleats or skates. BRCE emerged from the MTEC SmartZone’s Advanced Manufacturers and Materials program, following a path similar to many businesses that have developed from the innovation hub.
BRCE’s appearance on Shark Tank highlights the growing trend of student entrepreneurs who leverage academic resources to create viable commercial products. The company’s success also demonstrates the effectiveness of programs within the MTEC SmartZone that nurture businesses from concept to market.
The investment from Weaver and Lubetzky will likely help BRCE expand production and marketing of their ankle-stabilizing shoelaces to reach a broader athletic market.
