BrewDog co-founder and chief executive James Watt has revealed the five businesses to reach the final of his Next Unicorn competition – searching for the next billion-dollar business.
Having whittled down a long-list of more than 750 entrants, the finalists will be heading to Las Vegas, where they will find out who will win a share of Watt’s initial £1m investment at BrewDog’s rooftop bar on 3 June.
The exact amount to be invested in each company will be revealed at the final, with a minimum of £100,000 set to be injected into each of the winning businesses.
The final five are:
- Basket - an app allowing shoppers to bookmark potential purchases from any site.
- Mous - protective cases and accessories for phone cases, headphones and other consumer tech.
- Tallow & Ash - a range of planet-friendly laundry shampoos and conditioners.
- Uncouth - personalised and prescribed skincare treatments.
- Yum Bug - edible bug-based recipe boxes and snacks.
Having consulted with his fellow panellists, including comedian Dom Joly and serial investor Codie Sanchez, the Scottish entrepreneur gave his verdict on each of the final five.
Watt on Basket: “It’s difficult to find real innovation in tech and e-commerce, but Basket is something I would 100% use myself - it genuinely helps the consumer and I think it’s got application in the UK and globally.”
Watt on Mous: “An upstart UK company trying to have an impact on a global scale to take on absolute giants - they’ve done fantastically well so far and have got a great team focused on R&D and innovation.”
Watt on Tallow & Ash: “Their mission is to shake up a stuffy sector, where all the incumbents have been doing the same thing for decades - it reminds me so much of our mission to shake-up beer, when we set out in 2007.”
Watt on Uncouth: “I suffered from severe acne when I was a teenager, so I feel the pain point here - their brand is fantastic, their mission is great, and this is a business that is going to help a lot of people.”
Watt on Yum Bug: “The food scene is going to change dramatically, and I think Yum Bug can shake it up and produce more sustainable ways to get the protein that we all need - once you get over the fact that you’re eating bugs, it’s surprisingly delicious.”
He will invest £1m initially, with a further £4m up for grabs when companies reach specific milestones.
The competition also allows members of the public to invest in the three chosen businesses via Crowdcube on exactly the same terms as Watt.
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