You may have seen it. His name is Kevin Harrington, he is a well-known American entrepreneur, businessman and investor, who appeared on the jury of Shark Tank, a television program broadcast by the ABC network, in addition to being a pioneer of infomercials in the northern country.
In the program, entrepreneurs present their products and solutions to convince a jury of investors – called sharks – to bet on their ideas. Many appearances are made such as from creators of applications to communicate with doctors to inventors of devices to cook ramen in the microwave (did not win).
“I have always worked in mass market products that solve problems, and this can be used by all the people in the world,” he says.
Well, a few weeks ago the nose of Kevin Harrington, creator of the book “Act Now: How I Transform Ideas into Million Dollar Products”, opted for Solubag, the dissolvable bags created by four Chilean entrepreneurs.
Through Lancaster, a US investment fund, Harrington, together with Steve Mandell, an expert lawyer in international business, contacted Chilean entrepreneurs to invest in their product.
Solubag are bags made with an alternative material to plastic that dissolves in water. The material is made from polyvinyl alcohol that is used for the medicine capsules that dissolves in water.
“We had known about the material for a long time, because we had worked in the plastics industry and just at that moment, about six years ago, municipal ordinances began to come out in Chile and in the world that forced the elimination of plastic bags. So we said why didn’t we use that material to develop bags ”, says Patricio Cabezas, who, together with Roberto Astete, Cristian Olivares and Alejando Castro, developed the product.
From Pittsburg, Pennsylvania, Harrington explains the reasons for his bet.
Solubag is a very unique product that solves a bigger problem. I have always worked in mass market products that solve problems, and this can be used by all the people in the world, in many different formats, in addition to solving a multi-million dollar problem. Its market is huge, since dozens and even hundreds of different products can be made from this line,which can be used by everyone ”explains the investor.
Mandell adds, “It is an innovative technology that is unrivaled as a green solution to the global pollution crisis.
The idea of both investors is to expand the solution beyond exchanges. “Our plan is to start immediately with the shipments and logistics of the product to the consumers. Packaging is a huge industry and this can replace all of your products. We are going to work on our connections to put this in the hands of logistics centers, distributors and marketers. This is just a starting point, ”says Harrington.
The expectations are great, as Mandell explains: “Our goal is the global adoption of the technology and this is possible because it is an alternative to plastic, since Solubag dissolves in water”, he explains.
On June 30, the solution won the Image of Chile Award 2020 ”in the SMEs category. Constanza Cea, executive director of Imagen Chile, points out that the company’s achievement is the vision of its creators.
“Since Solubag joined the use of the Chile Brand program in 2019, we have seen that their talent and vision for the future has driven them to grow exponentially. We are proud that a “Made by Chileans” product is so appealing to the world and that at the same time it delivers global solutions, ”he says. “This investment is very significant for us, because it allows us to enter one of the most important markets in the world,” says Cabezas, one of the creators.