Junior College students win €25,000 with Five Sharks For Walk Reward app
Two Junior College students have been awarded €25,000 on Shark Tank Malta after developing an app to get people to walk more.
Luca Zammit and Jean-Paul Muscat entered the tank with a demand for €25,000 in exchange for 45% of GRNR, an application developed at JAYE Young Enterprise which essentially means “greener”, without the vowels.
The app works by giving people points based on the number of steps they take, with local businesses and NGOs offering physical rewards to those who accumulate a certain number of steps.
The download will be free, but premium subscribers will be able to get more rewards and participate in special competitions.
Their presentation initially drew mixed reactions from the sharks, with Mark Bajada urging sixths to take the international app before his namesake Mark Weingard put the brakes on the proceedings by pointing out that several similar walking apps already exist .
However, Weingard was quickly won over after Christabelle Camilleri described the app as a perfect example of how businesses can engage in corporate social responsibility.
The five sharks jumped on board, but demanded 50% of the company (10% per shark) instead of 45%, an offer which Luca and Jean Paul immediately accepted.
Although it is extremely rare for the five sharks to team up in this way on the original American version of Shark Tank and the international releases, it has become a relatively common occurrence in the Maltese edition.
This is already the third time that all sharks have invested in a single product on Shark Tank Malta – after Madumaa fashion brand inspired by traditional Maltese floor tiles, and Hooked Creative Space, a company that develops handmade products using the knotting technique of macrame.
Congratulations Luca and Jean-Paul!