This article is about Hyconn Net Worth and Other Information. Hyconn is a company that introduced a device facilitating rapid connection and differentiation of hoses.
Introduction The Hyconn
HyConn is a revolutionary firefighting system. It is designed for faster and more efficient hydrant connections during emergencies. It simplifies the process. HyConn eliminates the need for threading and twisting hoses onto hydrants.
This patented system consists of the HyConn Connector attached to the hose. It also includes the HyConn Adapter installed on the hydrant. The quick-release mechanism allows easy connection, ensuring a tight seal without multiple turns.
The HyConn Adapter is permanently installed on hydrants. It features protective covers to prevent debris. Compatible with common fire hoses. It seamlessly integrates into existing firefighting equipment. This enhances efficiency and reduces response time.
HyConn prioritizes firefighter safety. It streamlines connection processes for reliable and secure hydrant connections during critical operations.
The Founders of Hyconn
Jeff Stroup is the founder of Hycon. He was inspired by his background as a full-time firefighter. He aimed to create a solution for fire prevention. He established HyConn LLC in 2009.
Originally from Austin, Arkansas, Jeff completed secondary education at Lake Hamilton High School. Later, he earned an associate’s degree in computer drafting and design from Southern Technical College.
While working as a firefighter captain, he explored roles like a commercial diver. Additionally, he served as Director of Engineering at Kellogg Brown and Root. He was also a supervisor at Remington Arms Company.
Establishing The Hyconn
While battling a house fire in Texas as a firefighter, Jeff Stroope realized the time-consuming nature of connecting hoses to fire hydrants. In response, he designed the HyConn hose adapter, refining it over 11 years. He launched it in 1999.
Traditional methods took 30 seconds, while his invention took three seconds or less. Jeff successfully marketed it to 11 fire departments. Four of them placed hard purchase orders.
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Hyconn Net Worth and Other Information
|Fire hydrant and hose connectors with a fast connection
|$500,000 for 40% equity in HyConn
|$1.25 Million for 100% stake in HyConn + $100,000/year for 3 years + 7.5% royalty to Jeff
|Season 2, Episode 8
|Hyconn Business Status
|Out Of Business
|Hyconn Net Worth
Hyconn Website, and Other Social Media Profiles
|Social Media Site
Hyconn Shark Tank Update
Hyconn Appearance on Shark Tank
Jeff Stroope thought his product had a million-dollar market but needed money for better distribution. In 2011, he went on Shark Tank, seeking $500,000 for a 40% stake.
The Sharks liked the demo, but things changed when Stroope talked business. He then showed a garden hose adapter, sparking interest.
Mark Cuban swiftly offered $1.25 million, a three-year job, and a 7.5% royalty for the entire company. Kevin O’Leary tried to counteroffer, but Jeff chose Mark.
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Hyconn After Shark Tank
Following Shark Tank, the deal with Mark Cuban fell through. Cuban wanted to alter the terms, aiming for a licensing deal with another company, a move Stroope opposed. Consequently, the fireman-founder parted ways with the billionaire.
After the failed deal, 101 Ventures and Innovate Arkansas, an economic development agency, stepped in, but the details remain unclear. Unfortunately, by 2019, HyConn’s online presence dwindled, and its e-commerce site closed down.
Regrettably, it seems they went out of business. They faced challenges selling to the government due to budget constraints. Jeff Stroope now serves as a Tool & Die Shop Manager at D&M Holding Company.
Hyconn Shark Tank Update
Jeff pitched Hyconn on Shark Tank, securing a deal that didn’t materialize, leading the company to bankruptcy. Despite having a website with instructional videos and a buying link, the product is no longer available.
Unable to fulfill orders without Shark Tank funds, Jeff waited years for another investor. Although the company’s website exists, it’s absent from social media. Currently, Jeff serves as the Tool and Die Shop Manager for D&M Holding Company, an Arkansas-based munitions manufacturer.
Hyconn Net Worth
Hyconn had a value of $1.25 million on Shark Tank. As of 2024, Hyconn net worth is currently $0. This is because it’s no longer in business. Jeff Stroope net worth is also undisclosed.
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Hyconn Still In Business
Jeff presented his product on Shark Tank, securing a deal that ultimately fell through. Despite obtaining a patent for Hyconn’s technology, the product is no longer in existence. The company went bankrupt.
The company’s website features videos demonstrating product use. But now the transaction is not possible. Shark Tank’s insufficient funds prevented Jeff from fulfilling the order. It took several years to secure a new investor.
While the company’s website remains, it’s absent from social media platforms. Jeff now serves as the Tool and Die Shop Manager for D&M Holding Company, an Arkansas-based munitions manufacturer.
Is Hyconn still in business?
No, Hyconn is out of business.
How much is Hyconn worth?
Hyconn net worth is zero.