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Teen Entrepreneur Earns Himself A Deal Worth Over A Million Dollars | Dragons Den Canada

19 year-old Ben Gulak has built an electric motorcycle that balances itself on two centred wheels. An “impressive” invention that has all dragons rushing to invest. #DragonsDenCanada #DragonsDen #Uno

Next up an electric unicycle designed and built by a milton teen it’s called the uno and it’s already an international sensation hi i’m ben gulac i’m 19 years old from milton ontario my product is the uno and my company is bpg technologies and i’m looking for one and a quarter million for fifteen percent of my company one and a quarter million for how much

Fifteen percent you didn’t say fifty you said no fifteen one five okay it better be good yeah i brought these for you unfortunately the bike is in california right now so and this is your invention ben this is my invention is this you riding it ben um yeah i’m uh i’m the test rider programmer ben’s 19 now but he dreamed up the uno when he was barely 16 after

A trip to china with his parents it’s still only a prototype but popular science has already named the uno one of this year’s top 10 inventions is it stable it’s completely stolen it has active balancing so when you’re actually um writing it it doesn’t feel like you’re doing anything it does all the guesswork thinking for you is it real like it’s real like you

This you built this this this is a real life-size prototype can we see the video on it this home video shows how ben keeps the electric powered uno upright using intuitive gyroscopes ben hopes it’ll replace gas run scooters and motorcycles in pollution choked cities around the world it is so cool looking oh thank you i did all the designs so cool myself so this

Is meant for bangkok and hong kong and crowded urban centers any really you know highly populated over dense cities how fast does it go right now it goes 15 miles per hour that’s for a whole bunch of reasons and at any speed it maintains its balance how does it do that well there’s there’s a neutral point so when the bike is completely level or like in its not

Moving position that’s considered zero and then any deviation from that if the rider leans forward or leans backward the sensors pick that up and try and re-center the bike so if you lean forward it has to speed the wheels up to move the rider back above them whereas if you lean backward it moves the wheels backward and moves the rider back on top is it battery

Power it’s uh it’s all electric so it’s battery powered what about the cost of one of these if i want to buy one in the street well i see the final price being anywhere between five and five and a half thousand dollars for this i was able to manufacture i just finished a second prototype um two and a half weeks ago and i built the whole thing for two thousand

Dollars the dragons are clearly smitten with the prototype and with its green potential but they also know electric powered vehicles are risky businesses one of the biggest disasters in venture capital history was a device called the segway i’m sure you’ve heard of it right let’s talk about the similarities and the differences here because there’s probably a lesson

To be learned from the segway well one of the things that the segment was really hyped before it came out and ended up being a huge commercial failure as everyone knows what i think went wrong is that since we’re such a visual society people need to want to see themselves riding you need to look cool being on it and you need it almost needs to be a status symbol

The segway just doesn’t do that what are you going to do with the money um well i’m actually planning on opening a research center it is in the early prototype phase so i’m planning on opening it in the massachusetts area just because it’s a it’s a big tech center in the us and it’s your vision with the money to create a think tank where you’ll take a product to

A certain stage and then license it to others and then build the next cool thing or is your idea to actually become the the henry ford of the motorcycle world um i really believe in this product and i’d really like to see it make it to production if a large manufacturer came to you today and was willing to stay with your vision and take all of these headaches

Outside of the r d you want to provide which everybody’s going to believe you should do are you okay with that for a royalty let’s say they’re willing to pay you seven percent of sales absolutely i mean uh man that was the answer my friend i’d invest in you ben just from that answer that’s a great answer yeah i mean i i know there’s like calls in the proposal

And everything but this has a lot of potential there’s a lot of concrete things behind you you want to see millions of them on the streets all around the world right yes and millions of dollars in your pocket the millions of dollars do you have any adversity for being wealthy because some people do they’re called communists i love money you’re okay with it right

Yeah it’s impossible not to make an offer okay the uh the value of a concept is indeterminate and the number you throw out might be high might be low and if any of the other dragons want to participate i’m going to start with an offer you’re looking for a million and a quarter if you were to do that for well thirty percent of the firm get down under three

Four million dollar valuation i would certainly be there i’m in on that offer okay so you’ve got a fairly consistent view of people willing to participate this ontario team came pitched and slayed all five dragons but they want thirty percent double what ben came willing to part with as tempting as that sounds i really can’t go above twenty percent as you’re

Saying that one and a quarter million for 20 yeah that’s as high as i’ll go can you give us just a moment to talk amongst ourselves absolutely okay don’t let the greed cloud come over your head one two five i know you’re overpaying let’s get it down let’s go to toyota and and negotiate i’ve never seen you throw money out like this before and not care about your money

Honestly he’s very impressive hey ben we’ve talked about it i think it’s unanimous that we believe in you and we’re comfortable doing the deal at one and a quarter million for 20 percent of the firm do we have deal we have a deal all right all right all right all right so do i get to take a photo with all the cash now absolutely you want the cash already i love

This man if you have an idea it’s so easy to get discouraged there’s so many people that will say you know no you’re wasting your time don’t do it the biggest thing is don’t let people you know get you down and if you really believe in something keep going after it and if you want it badly enough there’s always there’s always a way and you know you can make your dreams come true you

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Teen Entrepreneur Earns Himself A Deal Worth Over A Million Dollars | Dragons' Den Canada By Dragons’ Den Canada