Investors compete in Havre version of 'Shark Tank'

Tinkerers, inventors and budding entrepreneurs in search of a little start-up capital were at Montana State University-Northern Tuesday and Wednesday for the Shark Tank Live Pitch Business Plan Competition.

The competition, modeled after the popular ABC reality TV show, was part of the two-day, seventh annual Invest in Success Conference put on by the American Small Business Development Center, in which figures from the world of business offer workshops and conferences on finances, management, marketing and other things needed to thrive in the world of business.

It was the first time the conference was held in Havre.

The conference’s website said the competition was “open to Montana start-up/pre-venture entrepreneurs in the ‘idea phase’ whose gross revenue and investment to date are under $5,000.”

“It’s an opportunity for people that have innovative ideas or just an idea that they want to see get into the marketplace,” said Shauna Albrecht, a credit analyst at Independence Bank and one of the judges. “(It’s) an opportunity to try and get a little bit of money for it and come to a competition to see what other people think about their product.”

Albrecht said winners who presented their ideas to the four-judge panel were selected based on the feasibility of their ideas, as well as the quality of both their business plans and overall presentation.

The first-place winner received $5,000 to take their idea to the next level. Contestants who came in second and third received $2,500 and $1,000 respectively.

Albrecht said there were 13 contestants who came before judges the first day, which were later pared down to five final contestants who went on to the final round.

The main competition itself took place in the Sub Ballroom Wednesday at Northern where the five contestants came before the judges and gave brief presentations. They then answered questions from the judges about their business plans and vision.

After all the presentations, the judges briefly deliberated before announcing the winners.

Those winners were:

• First Place: Ron and Rick Turner of Havre who developed The “anchor yanker,” a device used to help pull a rope with an anchor attached out of a drift boat.

• Second place: Leon Beachy and Shane Etzwiler of Fairfield, developed the “tru shot,” a camera mount for rifles and bows that allows hunters to record their hunting expeditions

• Third place: Andrea Michael of Bozeman developed a zip-in coat extender for women who are either pregnant or wearing a sling-style baby carrier.