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Makawao inventor nails $200,000 offer on reality TV show

Makawao resident Yancey Meyer received a $200,000 offer on the television show “Make Me A Millionaire Inventor,” televised Thursday night, to help him with his WaveSkate invention. The WaveSkate is a combination skateboard and surfboard. Yancey Meyer photo

Makawao resident Yancey Meyer received a $200,000 deal on national television Thursday night for his WaveSkate amphibious skateboard invention on CNBC’s “Make Me A Millionaire Inventor.”

Not all people’s inventions receive a deal on the show. Others on the prime-time series have received deals of $1 million.

“I was very nervous about not getting an offer,” the 39-year-old said in an email interview on Thursday. “These are industry experts analyzing your product and idea, and it is very nervous to be under such expert scrutiny.”

But Meyer’s invention caught the eye of investor Jim DeBetta, an invention and retail product placement specialist who has placed products in big-box stores such as Target and Wal-Mart.

DeBetta offered Meyer $200,000 in exchange for 10 percent of the WaveSkate company. In 2013, Meyer began development of his invention of a skateboard that doubles as a surfboard.

On the show, it didn’t take too long for Meyer, a former professional skateboarder, to say yes to DeBetta.

But initially in his sales pitch, Meyer asked DeBetta and another investor, Tony Finn, one of the founders of the wakeboard sport, which combines water skiing and surfing — for a much larger offer. Meyer sought $700,000 in exchange for 30 percent of his company. No one took the offer.

On the show, Meyer looked nervous as Finn, the first investor, didn’t make an offer. Finn said his company is more into professional-grade boards, rather than whimsical ones such as Meyer’s. But Finn said he liked Meyer’s idea and offered praise.

In his initial comments, DeBetta told Meyer that if a child’s product does well, “it gets picked up by everyone.”

The show was taped several months ago, and Meyer was sworn to secrecy about the results until the show aired Thursday. The show included clips of Hookipa Beach Park and Paia town. Meyer grew up on Maui surfing and skateboarding.

“A lot of the capital investment is still in negotiations,” Meyer said of his ongoing business dealings.

But on his own and with his local team of friends, Meyer is continuing to refine the WaveSkate.

He’s focusing on two parallel lines. One is an entry-level board for everyone that could perhaps can be found at big-box stores. But with Meyer and his team’s background in extreme sports, they are looking into an “extreme line” for the more experienced surfer and skater.

On the show, Meyer showed that the board’s wheels come off when it converts into a surfboard. Fins also can be added.

Meyer said previously that with the WaveSkate, he hopes to get a better life for his family and own his own home. Now, Meyer, his wife and three children live in a relative’s cottage. This came after Meyer had to file for bankruptcy three years ago. The family fell into hard times after a mortgage for a home didn’t work out.

Even before the show was televised, the buzz surrounding Meyer being on the show generated interest in the WaveSkate.

“We immediately felt not only the buzz of that hits and likes on our website and social media, but the reality set in. This is not a gift horse, we worked for the opportunity to work even harder,” he said.

Online:

• WaveSkate — ridewaveskate.com

• Make Me A Millionaire Inventor — www.cnbc.com/make-me-a-millionaire-inventor

* Melissa Tanji can be reached at mtanji@mauinews.com.

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