IFTech Inventing Future Technology Inc.

Michael & Brodie Stanfield
Blackstock, ON

Visit IFTech Inventing Future Technology Inc.

Michael & Brodie Stanfield pitching IFTech Inventing Future Technology Inc. on Dragons’ Den

The pitch

Michael & Brodie Stanfield from Blackstock, ON, pitched IFTech Inventing Future Technology Inc. in Season 11, Episode 15, asking the Dragons for $500K for 20% of the company.

Asked for$500K for 20%
Valuation$2.5Mimplied by the ask
OutcomeDealwith Michele Romanow
Final deal$500K for 25%valued at $2M

Offers in the Den

Dragon	Offer	Result
Jim Treliving	Sees it as a $3 million project and does not want to invest at that level	Out
Manjit Minhas	Concerned about long, competitive road ahead needing accelerator partnerships	Out
Joe Mimran	Cautious of hardware businesses generally	Out
Michael Wekerle	Thinks they need more money than being asked for	Out
Michele Romanow	$500,000 for 25%	Accepted

Michael Stanfield and Brodie Stanfield of Blackstock, ON asked for $500,000 for 20% of IFTech, maker of ARAIG, a wearable multi-sensory gaming suit using 16 subcutaneous stimulation devices, 34 vibratory devices, and 7.1 surround sound to let users physically feel in-game events. The suit works wirelessly with gaming platforms for over five hours per session; a single prototype unit costs $20,000 to $25,000 to build, with a mass-production target cost of $250 per unit down from an initial $450. The company is pre-revenue and pre-sale, and has spent about $550,000 to date, including $150,000 from the founders, $250,000 from investors who bought stock at $20 a share, and additional government and institutional funding.

Jim Treliving, Manjit Minhas, Joe Mimran, and Michael Wekerle all went out, citing the scale of investment needed, the competitive hardware landscape, and the difficulty of scaling hardware businesses. Michele Romanow offered $500,000 for 25%, citing her team's existing relationship with Samsung's virtual reality division, and the founders accepted.

Pitch details from CBC’s Dragons’ Den pitch page.