University of Texas MBA students Corey Egan and Swapnil Bora invented a smart light bulb that can change colors (more than a million color combinations are available) and be controlled by a smart phone app. They pitched their Bluetooth enabled LED bulbs, iLumi, on Shark Tank and got a deal with Mark Cuban. Egan and Bora are determined to make iLumi a household name but it’s a tough sell at $89 a bulb, even though the light bulbs are designed to last 20 years (and the app is free).
[Shark Tank Quiz — Think You Know Your Sharks?]
Plus, Phillips came out with its own version, Hue. A three-bulb pack goes for $194 on Amazon
