Who: Jordan Dil (’19) and Mikel Noriega (’19)
Valuation: Elenita just raised money on a convertible note with a $4.5 million cap
Investment: Roughly $1.1 million
Q: What is your business and what does it do?
Our business is called Elenita Mezcal. We are launching a ready-to-drink mezcal cocktail in a can that uses artisanal mezcal distilled in Oaxaca, natural flavors and juices, and carbonated water.
The idea combines two of the fastest-growing spirits categories in the U.S. — mezcal and ready-to-drink cocktails — into one product.
Q: How has your MBA helped you develop your business? How did the idea come about?
Our business was developed through the Business Creation Option of our capstone project at UCLA Anderson. The framework of the program allowed us to really develop the idea into something that turned into a great opportunity and feasible business.
The idea came about through identifying that mezcal was the fastest-growing spirit in the U.S. and then understanding that the best way to differentiate our product and have a real competitive advantage would be through putting it in a premixed cocktail in a can.
Q: Where are you at right now? What are your plans for the future?
We are currently lining up our production in Mexico and are launching in the L.A. market this fall. Our plan is to really prove traction in the Southern California market over the next 6–12 months before expanding geographically.
We believe this product will be the go-to beverage for anybody looking to drink premium mezcal in casual social settings, where they may not have a bartender there to make a complex cocktail.
This article on MBA Startups to Look Out for in 2020 was originally published by BusinessBecause.