ENTREPRENEUR: Ray Latypov & Jim Dimascio
PITCH: Virtusphere, a virtual reality locomotion simulator.
ASKING FOR: $1.5 Million for a 10% stake.
BEST PART OF THE PITCH: A giant sphere sits in the middle of the shark tank. Ray dons a virtual head-mount display unit and we see what he sees on a nearby monitor. The giant sphere rotates freely in any direction, depending which way the user moves. Jim says that Virtusphere can be used for virtual combat training purposes for soldiers. We have to admit, the thing looks totally cool. Kevin O. thinks so too and wants to take it for a test drive. He's a little disoriented when comes out, but admits that it was all pretty wild.
DO THE SHARKS BITE? Robert wants to know what the market is for this type of device in the gaming world. They speak of virtual arcades, but the real focus will be on the military applications. Jim wants to target Army recruitment centers and the theme park industry. All of the sharks are impressed with the unique creation. Robert says, "I've never had an idea in the shark tank that I've loved this much." But it's so early in the game; he can't bring himself to invest in a product with so many unanswered questions. The virtual reality of this pitch is...everyone is out.
WANT TO KNOW MORE: Visit www.virtusphere.com.