Shark Tank Vietnam: Successfully closed all 3 deals for 20 billion VND

In episode 4 of Shark Tank Vietnam season 7 (broadcast on VTV3 on the evening of August 19), the audience saw 3 'farmer' founders bring emotional startup stories to call for investors.

With the unique "eat and suck" vegetable straw product under the Ecos brand, startup Le Van Tam made a strong impression on Thai shark "at first sight", especially with the journey of overcoming difficulties to start from scratch.

After 10 years of working abroad with synchronous mechanization, Mr. Le Van Tam always had the ambition to help farmers. One time, by chance, when he went to see a fish harvest, he saw a very large fish, and when he cut it open, the inside was full of plastic straws. Mr. Tam immediately discussed with his brothers to produce a type of straw made of vegetables, which can be soaked in water for a long time without being slimy or sour, can withstand all climates and can be used as fish food after use.

First time on TV of "farmer" Le Van Tam

Startup Le Van Tam made a strong impression on Shark Thai, especially his journey of overcoming difficulties and starting from scratch.

Investors in Shark Tank Vietnam season 7 are always tense with "mind games" to choose potential startups.

Shark Tank Vietnam

Having fallen into despair when having to "mortgage" 3 houses and almost going bankrupt, Mr. Tam shared: "At first, when I exported one unit to the UK, I had to pay a loss of one unit. The reason was that when I sent the sample, the weather there was only 5 to 10 degrees. When the goods arrived, they were negative, and when they were put in water, they (the straws) kept breaking. At that time, it was very difficult to change the formula to suit. At that time, I was also discouraged...".

Shark Thai immediately said: "Then you will need me. I have an R&D department specializing in food research, there is a microclimate cabinet that can simulate the climate in Europe, China, Korea, even simulate the seasons. When you test the product inside such climate conditions, you will be able to evaluate the impact on the product. There are many good things that I can share with you."

Shark Hung was curious about the product "why it doesn't dissolve when put in water", Mr. Le Van Tam said: "Vietnam's climate is different from Europe. The product I produce will create moderate warmth, there is an adhesive and moisture of vegetables and fruits in it, so when put in water in Europe, it is good". Shark Hung also shared that he already had a product like this, because he didn't want to have a conflict of interest, he did not participate in this deal.

After shark Hung, shark Minh Beta and shark Binh also refused to make a deal. Mr. Le Van Tam shared more: "I have a lot of research projects. Later, I made plastic bags from corn flour, edible but very expensive. I am a farmer, I don't have enough money to buy. With this straw product, I have already 'mortgaged' 3 houses. I want it to develop smoothly so I can continue to invest in other products".

Admiring the sincerity and honesty of Mr. Le Van Tam, Shark Thai proposed to co-invest with Shark Nga with a capital of 15 billion VND for 51% of shares.

The handshake between Russian shark and Thai shark, successfully closing the 15 billion VND deal

Shark Tank Vietnam

Luckily, Shark Nga highly appreciated the competitiveness and technology of Ecos director. She thought that 5 billion VND for 14% of shares was no problem. Admiring the sincerity and honesty of Mr. Le Van Tam, Shark Thai proposed to co-invest with Shark Nga with a capital of 15 billion VND for 51% of shares: "I think you are a person who comes from making products, you don't have much business strategy, but I really want to accompany you, because I see the simplicity and sincerity of a farmer like you, and because I also come from a farmer's background", Shark Thai was touched.

After a tense negotiation process, Shark Thai and Shark Nga, along with Mr. Le Van Tam, closed the deal of 15 billion VND for 40% of shares, holding for a maximum of 3 years with the condition of establishing a separate company, successfully closing the deal of "unique" Ecos vegetable straws that can be eaten and sucked at the same time.

The other two deals in episode 4 of Shark Tank Vietnam season 7, Hong treo gio Toan Thuong and Human resource supply solutions for FDI enterprises, also went through many emotional levels. TV viewers admired the startups for persistently pursuing their goals and sincerely convincing the sharks to invest money.

Thanks to that, Ms. Vuong Thi Thuong received an offer from Shark Binh and Shark Minh Beta to invest 2 billion VND for 33% of shares (with conditions) for the company. As for CEO Nguyen Tuyen Huan with Labor Supply Solutions for FDI Enterprises, Shark Hung agreed, closing the deal with an agreement of 3 billion VND for 21% of shares, ending a "happy" broadcast when all 3 were "closed".

Source: https://thanhnien.vn/shark-tank-viet-nam-chot-don-thanh-cong-ca-3-thuong-vu-voi-20-ti-dong-185240819194745506.htm