Dragon's Den

[Porty]

Anyone else catch this new show on BBC2 tonight? I thought it was brilliant. Almost every human emotion in the space of an hour.

For anyone that didn't, the format was as follows:

Dragon's: a bunch of 5 entreprenurial types 4 men and 1 woman, (Duncan Bannatyne and the Yo Sushi guy etc) are subjected to a pitch from would be entrepreneurs, who are trying to persuade them to part with a lump sum investment in exchange for a share in their business concept/invention.

The newbies have to first of all persuade one or more of the Dragons to invest and then negotiate what percentage they have to give away. Fascinating stuff.

[foxy]

Good programme if a bit x-factorish

Duncan Bannatyne's done alright for a schemie

[Bob Jefferson]

Porty, as soon as I read the blurb I knew this would be right up your street. I meant to watch it but forgot. So who was successful? I thought the umbrella vending machine idea was good at first, but would probably end up being vandalised.

[Pal of Porty]

Umbrella vending machine was the only business to secure funding. He had a good idea and was the only 'contestant' to see that giving away 40% of his company for £150k meant that his biz immediately had a paper value of £375k. He also gains 2 of the Dragons as new directors, which could ultimately prove better than getting the money. What an ordeal it was for the guy - it takes real guts to give away a chunk of your business and I really hope he succeeds.

The only other contestants on the show with good ideas were over-valuing their ideas and would not give away enough equity to gain capital from the Dragons.

Overall the programme was a bit bland but when you get an interesting proposition it's brill.

[foxy]

I really hope he succeeds.

Looks like he's already doing well Pop

www.umbrollys.com/news2.html

[Pal of Porty]

Looks like he's already doing well Pop

Good spot Foxy. I never read the FT myself - not even the on-line version.