Limerick firm wins $50,000 on American business show

LIMERICK start-up company Huggnote has won the top prize of $50,000 on a major American television show.

The firm exists to provide a messaging app which turns songs into virtual hugs, and was the first Irish start-up to be picked as a finalist for the show Two Minute Drill which airs on Bloomberg TV and Amazon Prime.

The show, which is hosted by world-renowned entrepreneur, investor, and best-selling author David Meltzer, saw Huggnote founder Jacqui Meskell, compete against four other entrepreneurs from an array of industries, whereby each have just two minutes to deliver a winning pitch that convinces four esteemed judges their business has what it takes to become the next big thing. 

During her pitch the Jacqui stressed Huggnote’s strong traction and global user adoption.

However, of her performance on the night Jacqui admits she didn’t get to fit everything in.

“It’s definitely a lot harder than it looks! Trying to cover all key elements of the business, while fighting a ticking clock on live TV is a lot of pressure. And then of course there’s always the possibility you’ll be torn apart by the panel – so it’s not for the faint hearted. But I just focused on communicating our vision for Huggnote and tried to connect as authentically as I could, not just with the panel but the viewing audience at large and thankfully it paid off,” she said adding that she was particularly delighted with the feedback from the panel.  “You never know how these things will go. You just have to be yourself.  And so, to get such positive comments was really gratifying,” she said.

Mr Meltzer (pictured above) praised Huggnote’s branding as “excellent” and as someone who “backs the jockey” was particularly impressed by Jacqui herself calling her “completely illuminating and honest.

“That’s someone I want to invest in. That gives you brownie points. A really, really quality pitch. I appreciate your honesty, humility and charisma,” he said, That’s someone I want to invest in. A really, really quality pitch. I appreciate your honesty, humility and charisma.”

One of the fellow panelists on the show Rory Cutaia added: “You came off as delightful. Someone that is trustworthy and experienced. Sounds like you’ve got a great team and a very interesting market niche. Good luck to you,“ he said.

“You’re honest, you’re transparent, that adds to the authenticity. There’s passion in what you’re saying,” said Rusty Youngbood whose venture fund provides the winning investment. “If I’m going high marks on pitch, high marks on business, Jacqui is the clear winner in my book,” he said.

But the key deciding factor in any pitch competition according to the panel is clarity. “At the end of two minutes I want to know what do you do?” said Mr. Meltzer. “For me, Jacqui was the only one where all three of you could answer what they truly do. Congratulations Jacqui you checked all the boxes for David Meltzer on ‘Two Minute Drill,” he said before asking her to send them all a ‘thank you’ hugg.

“We’re absolutely delighted,” says Jacqui. “We were honoured to just be selected as it is such great exposure for Huggnote in the US – a key market of ours. But to be chosen as the winner by such an elite entrepreneurial panel is a great confidence boost because these guys really know what it takes to build and scale nine-figure companies,” she said.  She also praised her fellow contestants on their success.

Jacqui’s sister Perry, who co-founded Huggnote said “I’m so proud of Jacqui and delighted the judges were so impressed with Huggnote. It’s the best possible introduction not only to new audiences of users across the US and indeed globally, but the start-up ecosystem at large in the States”.

As well as the $50,000, the prize also includes mentorship from the panel, which the founders consider the most valuable aspect of winning on the show, citing Mr Meltzer in particular, who is also a top 100 business coach and host of entrepreneur podcast The Playbook - as a major inspiration.