This year Dragons’ Chamber Taiwan saw three high school teams from the Dominican International School try their hand at getting investment in their businesses. They applied for the competition and were selected to be part of the preliminary round, where organizers listen to the pitches and determine the finalists.
The three teams that got through were:
Secom Dalcom: A company that makes and sells traditionally made Korean teas with a modern twist. The teas are all made by hand from locally sourced organic fruits.
About That Style: A company that focuses on helping schools and organizations get custom-made T-shirts and other branded clothing for official sports and special events, with a fresh approach to the style and manufacture of the garments.
Peer Learning Platform: A platform for kids to help each other with homework and tutor each other in subjects in which they are particularly adept.
The contestants went to their first round and were hoping to win over the organizers, or to at least do well enough for a second look if possible. All three teams prepared for weeks and presented their business plans. The organizers had some helpful notes and told the students how they could improve their pitches. They did not mince words and were clear from the beginning they would be treated just like every other team, regardless of the fact that they were high school students.
One team was asked to submit an updated presentation to see if they had improved enough to make it into the final round. Secom Dalcom had to revise their pitch in less than a week and resubmit it for a final look. Unfortunately the organizers felt that their business was too small and the expected investment too little for them to pitch to the dragons for investment purposes.
The organizers gave the students invaluable advice and experience. Each team got a gift from the organizers to celebrate their courage to participate in the first round. They each received a copy of the book “How to start a business in Taiwan” written by local entrepreneur Elias Ek. He also donated a copy to their school library that will become a valuable resource for other young entrepreneurs at the school.
These young entrepreneurs may not have made it through but they have learned numerous valuable lessons along the way. They have gone through the entire pitching process and will be watching their own videoed pitches for self-evaluation. They will attend the final pitch show on November 18th at the Taipei Expo Dome to watch the teams that made it through. These students are getting first hand experience at what it takes to get investment in a business, now they they more prepared when the day comes that they might want to pitch another business. Their teacher mentor shared with us that they have already followed the advice and adjusted their business plans.