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SuiTank is a reality show series in which Web3 builders pitch their business to a panel of venture capitalists to secure investment from them. This is so-called the Web3 Shark Tank.
The show features a panel of experienced VC, termed as "Sharks", who listen to builders' pitches for their business or product. These VC will judge the business concepts and products pitched and then decide whether to invest, live on the show.
The participants are Web3 builders, product designers, or service operators who have what they consider to be a viable and potentially very promising project, but who lack funding and/or business acumen.
Before the show, the participants have named a specific amount of funds they wish to get along with a % in the project that the participants is offering to sell to the VC. The rules stipulate that if they do not raise at least this amount from the sharks, they get nothing.
The sharks probe the idea further once the participants has made the presentation. This will either reveal a sound business proposition resulting in an investment offer from one or more of the sharks or a withdrawal from the transaction by all of the sharks.
SuiTank is a reality show which is meant to be a educational program for community to learn from the experienced VCs on how to analyze a project, and a platform for builders to showcase their products and eventually raise funds. Stay tuned for SuiTank!