Some local entrepreneurs are getting ready to swim with the sharks on April 25, when the EastSide Angels and the Southeast Michigan Chamber of Commerce (SMCC) host a Shark Tank event in Macomb County.
The Shark Tank is a live startup investment event. It will be held at Andiamo, located at 7096 E. 14 Mile Road in Warren. The event will begin with networking at about 10:30 a.m. The Shark Tank runs from about 11:30 a.m. to 1 p.m.
SMCC CEO John Johnson said that the April 25 Shark Tank is the first that SMCC has partnered with EastSide Angels to create. He said EastSide Angels is a supporter and member of the chamber, working with it on numerous projects.
“It’s something fun and different, a departure from the normal business luncheons, it is the theory behind it,” Johnson said.
He expects 550 people would be in attendance, adding there is no cost to attend, but registration is required at semchamber.org/events. Reservations are available on a first come, first served basis, with priority given to chamber members.
Each business participating in the Shark Tank will be awarded $50,000, with an additional $50,000 awarded to the winning business.
“It is a little departure from what you see on television, but the same kind of concept,” Johnson said.
EastSide Angels is a group for active, progressive and seasoned business professionals, interested in funding Michigan based startup companies. It was launched in 2022 and is affiliated with CitySide Ventures, which was established in 2015. CitySide Ventures’ purpose is to become a premiere investment group, committed to taking Michigan early stage Angel investing to a new level, as well as building a network of active, progressive and innovative investors.
“So when we first came to Macomb, we thought it was a great opportunity to work in the local economy and bring businesses to Macomb, and keep them in Macomb. Our intention with coming to the east side is to partner with a lot of people,” said Tomas Thundiyil, president of EastSide Angels, who is involved in venture development for CitySide Ventures.
Thundiyil said CitySide Ventures selected three or four business startups from among the many pitches it receives to participate in the Shark Tank event.
“So every company that comes to the Shark Tank and pitches at the Shark Tank, we will commit to investing no less than $50,000,” Thundiyil said.
The Shark Tank judging panel will consist of:
• Joe Vicari: Owner of Joe Vicari Restaurant Group
• Rachel Tronstein-Stewart, the CEO of Gardner White Furniture
• Priority Waste CEO and founder Todd Stamper
• Heritage Optical founder George Barnes
Thundiyil said panel members are chamber representatives, chosen to create a diverse group that can speak to different industries and backgrounds.
“We look for a diverse group, from different industries and different companies, that are high profile and that really could speak to, that know what it is like to run a successful business. It is geared to people that have expertise and knowledge, and understand the level of work it takes to get there, and the background,” Thundiyil said, adding although the judges will weigh in on the pitches of the participating companies, the audience will have an opportunity to vote also.
The Southeast Michigan Chamber of Commerce was formed in 2017 with affiliated chambers, which include the Warren Center Line Chamber of Commerce, the Albanian Chamber of Commerce and the Gratiot Avenue Chamber of Commerce. The SMCC offers programs and opportunities such as networking, educational workshops and forums, business to business marketing opportunities, discounted services and products, and health insurance. The SMCC also does advocacy work at the local, state and federal level through a proactive lobbying process.
