Most people don't walk nearly 3,000 miles across the United States to prove a point. But most people aren't as dogged as Melvin McCoy.
Struggling in the late '80s to convince others of the merits of the load-assisting backpack he had developed, McCoy decided to walk with it from Newport Beach, California, to Cape Henlopen, Delaware, in 1992 to prove it.
Today, McCoy is still trying to market his invention — the Multipurpose Uniaxial Litter Enginery, known as the M.U.L.E. McCoy appeared on the latest episode of CNBC's "Adventure Capitalists," a reality show in which entrepreneurs pitch their adventure products in the great outdoors.
McCoy, who was seeking an investment of $175,000 for 5 percent equity in his company, demonstrated his backpack to investors Craig Cooper, Dhani Jones, Jeremy Bloom and Susi Mai in Northern California's Hendy Woods State Park. Ultimately, however, they couldn't get past the price and the poor user experience, and he walked away empty-handed.