A Purdue University graduate has developed technology he says can keep wine fresh for days, even in an open bottle. ArT Wine Preserver is a creation of Chicago-based R Fred Innovations LLC founder Ryan Frederickson that uses contained argon to prevent oxidation, which causes wine to spoil. He says $1 billion to $2 billion worth of wine is estimated to be thrown away each year in the U.S. During The INnovators with Dr. K on Inside INdiana Business Television, Frederickson said he is working toward securing a full patent on his product and creating inroads on the Coasts.
The company is young and has been bootstrapped by friends and family to this point, but Frederickson believes the business is ready for the next level. "To serve our customers better, we are looking into raising a seed round (of investment) with angel and angel syndicate groups," he told Donald "Dr. K" Kuratko, who serves as Jack M. Gill Chair of Entrepreneurship at the Indiana University Kelley School of Business in Bloomington. ArT Wine Preserver is currently sold online and he expects to take a "top-down" approach, selling to wine industry professionals, then directly to consumers.
Dr. K offered his "prescription" to Frederickson, which includes:
- Understanding the benefits of ArT Wine Preserver
- Build distribution and sales network
- Capital for next generation (brand and patent-pending innovation)
You can connect to more about the company by clicking here.