Smartwheel Shark Tank Update

College students from Londonderry, New Hampshire, developed the idea for the Smart Wheel.

There are currently five under-16 students: Jaiden Evarts, Bryeton Evarts, Paige Balcom, Emily Balcom, and Kate Balcom.

The young entrepreneurs’ pitch to the Sharks focuses on a warning system for drivers who take their hands off the wheel, not some corny craft product. They present the Sharks with The Smart Wheel.

Smart Wheel is an abbreviation for Safe Motorist Alert for Restricting Texting. 

A group of teenagers launched Don’t DUIT (Don’t Drive Under the Influence of Texting), an awareness campaign dedicated to raising awareness about the dangers of texting while driving, which claims the lives of too many young people every year.

A comprehensive education program will teach teens the dangers of using their cell phones while driving. 

Smart Wheel entrepreneurs are among the Inventioneers, “a group of students inventing tomorrow’s solutions today.”

There are currently four pending patents for the organization. There is no doubt that these young entrepreneurs will impress the Sharks with their creative business ideas and solutions to terrible problems.

What Is Smartwheel?

SMARTwheels are steering wheel covers that help prevent distracted driving. 

This cover contains built-in technology that detects if the driver is texting with one hand or both hands on the wheel, which is common when using a cell phone.

Many traffic fatalities and injuries result from distracted driving in many nations.

Smart Wheel was developed by a group of young innovators between twelve and eighteen.

Smartwheel After Shark Tank

Young teenagers are often distracted when driving, so the entrepreneurs wanted to prevent teenage driving accidents.

They hoped SmartWheel would be installed in every car on the planet to help prevent accidents.

You can attach an ergonomic steering wheel to any SmartWheel in seconds.

Drivers are provided with visual and aural cues to reduce the number of accidents caused by distracted driving.

The parents or guardians of their children would be notified if they were driving while distracted by the device.

Company NameSmartwheel
EntrepreneurTJ Evarts, Bryeton Evarts, Jaiden Evarts, Emily Balcom, Paige Balcom, And Kate Balcom
ProductA steering wheel with an intelligent system to prevent distracted driving
Investment Asking For$100,000 For 15% stake in Smartwheel
Final Deal$100,000 For 30% stake in Smartwheel
SharkRobert Herjavec And Mark Cuban
Episode Season 3 Episode 13
Business StatusIn Business
WebsiteVisit Website

Who Is The Founder Of Smartwheel?

A group of New Hampshire high school students came up with the concept for the SMARTwheel. 

The group members are TJ Evarts, Paige Balcom, Jaiden Evarts, Emily Balcom, Bryeton Evarts, and Kate Balcom.

Their SMARTwheel prototype was featured on Shark Tank in 2013.

Smartwheel Before Shark Tank

Paige, Emily, Kate Balcom, and siblings TJ, Jaiden, and Breyton Evarts invented the Smarthweel.

The SmartWheel was created by entrepreneurs who had one goal in mind. It was designed to increase teenage driver safety.

The Inventioneers originally came together to compete in a Lego construction competition.

Most of us perform an activity that is usually the most dangerous activity we have ever performed, but we rarely think twice about it.

The SmartWheel resulted from their brilliant, creative, and dynamic brains.

Western society’s leading non-health-related killer is driving, and young, inexperienced drivers are by far the most at risk.

It all started with creating a demonstration vehicle that aimed to teach new drivers how to drive steadily.

The six young business leaders devised a high-tech product that assists younger drivers to remain focused on the road and their cars on the tarmac, thereby preventing accidents.

Even after filing for a patent, the young entrepreneurs still needed extra cash to build and finish their inventions.

These young businesspeople certainly have a lot of potentials. However, when you realize that they were all between the ages of 12 and 18 when they launched their groundbreaking new product, you realize how outstanding they are.

Smartwheel After Shark Tank

The Smart Wheel was originally planned for online sale, then retail through places like Big Box Stores.

The group consisted of Paige, Emily, and Kate Balcom and siblings TJ, Jaiden, and Breyton Evarts.

This company began as a Lego building competition, but the innocent start soon became a more serious commercial concept. They dubbed themselves the Inventioneers.

They would be more likely to keep their hands on the wheel if The Inventioneers designed their steering wheel.

Their goal of making the SmartWheel a finished product led them to register utility patents on their innovation, but they required significantly more money to put their product into production.

How Was The Shark Tank Pitch Of Smartwheel?

The inventors presented their life-saving product, Smartwheel to the sharks in February 2013.

They hoped for an investment of $100,000 in exchange for a 15% stake in SmartWheel in return for all the advantages that such a Shark partner would bring to the company’s bottom line.

The opening statement of the presentation began with a discussion of distracted driving.

According to TJ, 18 youths are killed every day in America due to a driver not paying attention to the steering wheel.

Therefore, the Inventioneers designed the SmartWheel, which would sound an alarm when drivers took their hands off the steering wheel’s 9 and 3 positions. 

A driver could learn how to hold the wheel properly, and it would also help them get back on their feet if they became distracted.

Parental oversight of their children’s driving behaviors is now possible thanks to a new feature Jaiden demonstrated to parents: a device that records their driving habits.

After the pitch, Mark Cuban inquired about the SmartWheel’s progress.

There is still a prototype at this time, but TJ said the group intends to use 75% of any cash received for manufacturing if the tank receives a $100,000 investment.

Robert Herjavec inquired about the company’s sales plan after the final product had been manufactured.

Smartwheel plans to launch an initial online sales phase and long-term plans to sell SmartWheel products at mega-stores such as Wal-Mart.

It was Barbara Corcoran who first inquired about the unit’s price. A retail price of roughly $200 per unit is the company’s goal; TJ admitted he didn’t know the exact cost at the time, but it was likely around $50 per unit.

The young entrepreneurs had been treated with kid gloves until Kevin O’Leary spoke up.

Mr. Wonderful, who was unhappy with the SmartWheel’s capability to sound an alert and monitor a driver’s hands off the wheel, suggested using an electric shock as a deterrent to bad driving.

Kevin’s reply was seen as a joke by the inventioneers, but I’m not sure if he was joking.

Mark Cuban brought up that the SmartWheel had been tested in trials. Breyton’s product had been tested and by the youngest member of the inventors’ team at MIT, no less.

MIT testers were 98% certain that the invention would improve road safety, she told the sharks, and they were intrigued.

TJ was about to give the sharks another reason to be impressed.

The Inventioneers met President Obama at the White House because they were regarded as future creators.

The president expressed an interest in buying the SmartWheel for his daughter when it became available.

Daymond John expressed his desire to “Be a part of this,” but he was sincere in his regret at having no previous experience in the field of electrical production.

Daymond believed that he would not add any value to the business, so he was out.

Barbara Corcoran, on the other hand, was not convinced. As a result of her displeasure with the device’s reporting capabilities, she opted to return it.

TJ argued for the SmartWheel’s usefulness, but Barbara remained unmoved.

The author concludes by saying, ‘Kids don’t want their parents watching over their shoulders.’ Barbara eventually walked away from the negotiations.

Kevin O’Leary was proud of the inventors’ accomplishments, and he spoke well of them.

The President praised them for bringing “An idea to the White House” to the Oval Office, but then he dropped his facade of humanity, and a shark emerged. 

He added, “Imagine how impressed I would be with you if you came up with a great idea.” TJ’s smile disappeared.

He said they could come back to the tank later when they were all grown up and had achieved something worthwhile.

He promised to send them a cheque the following day but added, “Not today.” Kevin was out the door after that scathing assessment of the SmartWheel’s design.

Robert Herjavec prepared a counter-offer to the entrepreneurs after successfully defending the SmartWheel against Kevin O’Leary.

In exchange for 30% ownership of the company, he offered $100,000 to secure a licensing agreement with an automobile firm.

Robert’s proposition appeared to be well-received by all inventors, but TJ maintained his composure. 

The Sharks turned to him and asked, “Are there any others interested in that offer?”.

Who am I?’ ‘Cut Liver’? Robert Herjavec and his fellow Sharks admired the young entrepreneurs’ self-control and professionalism, but he wasn’t offended.

Mark Cuban chimed in, telling Robert he was willing to split the deal with him 50-50 but wasn’t too worried about attaching a condition to a license contract.

Smartwheel After Shark Tank

He believed that the company could do better. He and Robert discussed the offer and agreed that the terms should be 30 percent equity for a $100,000 investment.

TJ accepted the deal quickly on behalf of the inventioneers.

What Happened To Smartwheel After Shark Tank?

Some Shark Tank deals never materialize. Shark investors and Smart Wheel founders could not agree due to a disagreement.

However, the youthful inventors aren’t giving up. TJ Evarts launched the Smart Wheel after an Indiegogo campaign failed in 2015.

Did the Inventioneers make the right choice by leaving the Sharks behind? While it is still too early to tell, they appear to be on the right track with a product that has attracted the attention of two sharks.

The device is still featured on the company’s website as available for pre-order as of January 2022.

The product is still being improved by him and his sisters, while TJ Evarts remains CEO. Perhaps we’ll be able to see something of it soon.

Smartwheel Shark Tank Update

The Inventioneers demonstrated great resolve, determination, and negotiation skills on Shark Tank. Still, they could not come to a final agreement with Mark Cuban and Robert about the parameters of their proposed deal.

The SmartWheel website published an update in January 2014 regarding this part.

The SmartWheel team decided to forego a Shark investor even though the experience had been inspiring and valuable for all of them.

The SmartWheel company still lacked financial backing regardless of another explanation.

SmartWheel launched a crowdfunding campaign shortly after it was announced that the Sharks wouldn’t be partnering with the company.

They requested $50,000 to complete the manufacturing process. There were only a few hundred dollars in donations raised by the campaign.

A number of the 39 backers were dissatisfied when the campaign was finished.

An investor felt “ripped off” after waiting more than a year for a SmartWheel and sending numerous unanswered inquiries.

After watching the SmartWheel on Shark Tank in 2013, even though the inventioneers were well-presented and professional, I realized it was not real yet, more than three years after they appeared on Shark Tank.

The Facebook page for SmartWheel is regularly updated with posts regarding the media coverage the concept has garnered.

The Today show on NBC, MSNBC, and several other high-profile shows promoted the product. 

The product is currently unavailable online for purchase, and despite a thorough search, I haven’t been able to find any retail shops where it is available for purchase.

We will have to keep driving without the help of those intelligent young inventors and their equally amazing SmartWheel for a while yet.

Did Smartwheel Get a Deal On Smartwheel?

Shark Tank’s Season 4 Episode 16 featured the Inventioneers of Smartwheel, who requested $100,000 for a 15% stake in their company. 

Robert Herjavec and Mark Cuban had a contract worth $333,000, and they paid $100,000 for 30 percent.

Shark investors and entrepreneurs disagreed as they did in other Shark Tank deals, so the arrangement collapsed when they could not agree on exclusive licensing of the smart wheel for automotive use.

Is Smartwheel Still In Business?

The Inventioneers were steadfast in their belief that they would succeed because of this. 

SmartWheel’s CEO, TJ Evarts, launched the Indiegogo campaign in 2015 to start manufacturing the product. They raised only $2,000, far less than the $50,000 they had hoped for.

There have been 39 supporters let down after their campaign ended, and one of them feels ripped off after having to wait nearly a year for SmartWheel, while their entrepreneurs have remained silent despite numerous questions.

Many well-known shows, such as NBC’s Today show and MSNBC, have featured the product, which has received very positive feedback from viewers.

A former president of the United States, Barrack Obama, supported the teen’s idea at the White House.

The SmartWheel team keeps up with its online presence while seeking partners to make and sell its products.

They believe the gadget can save lives and prevent senseless deaths.