As we gear up for the premiere of “Shark Tank Australia“, we want to get to know our judges. Dr Catriona Wallace stands out as a unique blend of entrepreneur and visionary. She’s a business dynamo, AI pioneer, and the powerhouse behind the Responsible Metaverse Alliance. At the age of 57, she’s not just redefining the future of technology; she’s leaving an indelible mark on the world of business and social change.
Let’s get to know this “Shark Tank Australia” judge.
Who Is Dr Catriona Wallace?
With a PhD in Organisational Behaviour: Human-Technology Interaction, Dr. Wallace is a recognised expert in Artificial Intelligence. She founded one of the first AI companies listed on the ASX and led Flamingo AI, making it the second woman-led business to achieve this feat.
Dr. Wallace wasn’t surprised by AI’s recent popularity. With AI’s origins dating back 70 years, she understands its evolution. Having built an AI company a decade ago, she saw the eventual rise of tools like generative AI as a natural progression.
Dr. Wallace Initially Turned Down “Shark Tank Australia”
Initially, Dr Wallace was sceptical about joining Shark Tank. She didn’t see herself as a traditional “Shark.” Instead, she identified with being a dolphin or a mermaid — symbols of kindness, support, and championing important causes. However, after discussions about embracing her authentic self, she decided to take on the role with her distinct approach.
Dr Wallace’s focus goes beyond the usual investment metrics. She’s interested in the impact entrepreneurs make. Her question isn’t just “Will this sell?” but rather “Will this do good in the world?” This approach aligns with her commitment to ethics, diversity, and sustainability.
Her Advice to Entrepreneurs
The greatest advice Dr Wallace can offer to any entrepreneurs looking to pitch to her and the other Sharks is simple: “Know your numbers”.
“You just have to know your revenue, your costs, your margins, your market, your market size, how you’re going to scale. These are just the basic facts that the Sharks will want to know,” she told 10 Play.
“Entrepreneurs who didn’t know their numbers, even if the product was really great, wouldn’t continue through to get investment. Just know your numbers, know your market and you’ll be three-quarters of the way there with the Sharks.”
“Shark Tank Australia” premieres Tuesday, 29 August at 7.30 pm on 10 and 10 Play.
Want more “Shark Tank Australia” goss? Check out the articles below:
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- Get Ready to Swim With Sharks: Your Ultimate Guide to “Shark Tank Australia” 2023
- Jane Lu on Starting Showpo and “Shark Tank Australia”
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- “Thought It Was a Scam”: Showpo CEO Jane Lu on Becoming a “Shark Tank Australia” Judge
- Meet Dr Catriona Wallace: The AI Expert Turning Heads on “Shark Tank Australia”
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