SWORKIT receives $1.5M from the ‘Sharks’

D.C. firm captures largest tech startup funding in the history of  Shark Tank

WASHINGTON—Two 40-something entrepreneurs recently received the largest tech startup funding in the history of the ABC television show Shark Tank. They received $1.5 million in funding for their product, an interactive fitness app called Sworkit (which stands for “simply work it”), which provides customizable and personalized video workouts.

Not the techie types

Sworkit co-founders are CEO Ben Young and COO Gregory Coleman. They readily admit they don’t fit the pattern of the typical Silicon Valley techies, but what they do have is a unique product that received the Washington D.C. TechDay Techie Award for Best in Health Tech in 2014. A recent fitness research study by the University of Florida also gave Sworkit the highest ranking when compared to other fitness apps on the market.

A $1.5 million deal

The two owners received a deal from shark Mark Cuban of $1.5 million for 10 percent stake in their company. Both are big fans of the show and were thrilled to be invited to appear to pitch their business. Coleman stated, “We are looking forward to working with [Cuban] and learning from him while together helping Sworkit become the leading platform people turn to fitness.”

Their business goal is to be “the leading global standard for all instructional exercise.” Their Washington D.C.-based company was well on their way prior to the Shark Tank appearance. Their product earned over 10 million downloads. But they are hoping their exposure on Shark Tank will take them to greater levels.

Discover more about the Sworkit app at www.sworkit.com

— Source: Photos and article courtesy Shark Tank and blackbusiness.org

Is the Future of (Cable) TV Still in a Box?

NEW YORK (AP) — It’s hard to get excited about a cable box. It’s basically a boring oblong you put on a shelf near your TV and never think of again unless your cable service goes out.

bdpatodayBut it’s at the center of a battle pitting technology companies and the government against the TV industry. The Federal Communications Commission wants to let you buy your own cable box in hopes of saving you money and getting you new features. The cable industry worries about losing the power to frame how you get your video — and with it, billions of dollars in revenue. Some in Hollywood also worry about losing advertising dollars.

Here is what your community and local BDPA Chapters need to know about this dispute — select here to read more

The Federal Government is hiring Innovation Specialists

So you want to join 18F?

18F
Mission
18F is a civic consultancy for the government, inside the government, working with agencies to rapidly deploy tools and services that are easy to use, cost efficient, and reusable. Their goal is to change how the government buys and develops digital services by helping agencies adopt modern techniques that deliver superior products.
18F transforms government from the inside out, creating cultural change by working with teams inside agencies who want to create great services for the public.
They are a trusted partner for agencies working to transform how they build and buy tools and services in a user-centered way.
They accomplish their mission by:
▸ putting the needs of the public first
▸ being design-centric, agile, open, and data-driven
▸ deploying tools and services early and often
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