The Seventh Annual Venture Sharks awarded Switcher Studio a record $23,000 in cash and prizes this afternoon at the Muhammad Ali Center. Venture Sharks is Louisville’s version of the reality TV program “Shark Tank,” where entrepreneurs pitch ideas and investors sometimes reward them with funding.
Previous Venture Sharks winners also banded together to give Farm Specific Technologies a $250 “best presentation” award.
Switcher Studio develops easy-to-use and affordable live video-streaming tools that allow users to create TV-style productions for the web. You can film from multiple devices and a producer can real-time switch between angles and devices.
Nick Mattingly founded the company in late 2014. Since January 2016, they have doubled their customers and now have $6,000 a month in recurring revenue.
Mattingly told Insider after the win that the prize couldn’t have come at a better time because Switcher Studio is launching a new product in June. The $5,000 cash prize would help them make it to June and also get to conferences. Also, the prize package included website and branding work from Mightily valued at $10,000 and legal work from Stoll Keenan Ogden valued at $5,000, both of which would be useful for the product launch.
“There’s never going to be less video than there is now,” Mattingly told the Sharks. Switcher Studio will help users create quality content, whether it’s for a live stream, Facebook or YouTube.
The Sharks were particularly sharky this time. Bob Saunders, partner at OCA Ventures; Vik Chadha, managing director at Glow Touch Technologies; Elizabeth Rounsavall, director of Research and Analytics at Chrysalis; and Lou Kelmanson, president of Kelmanson Holdings served as the panel of judges this year.
Companies were judged on viability, whether the prize package would positively impact the company, and the quality of the presentation.
In addition to the prizes mentioned above, Mattingly will receive $2,000 worth of animation work from McCrorey Digital, a free year at the iHub co-working space and two tickets to the EnterpriseCorp “Evening of Entrepreneurship.”
Switcher Studio beat out three solid companies to win the competition. Startup Weekend winner CompassioNote is a CRM plug-in that notifies sales people when a client has a major life event like a birth or a wedding. Farm Specific Technologies has patented a flexible roller crimper that helps farmers manage cover crops without using herbicides. UnCrash is a digital platform for auto repair shops that allows customers and insurance agents keep up with a car’s repair in real time. Learn more about these four companies here.