Have a new idea
When it comes to raising finance for your new project whilst at the same time showcasing it to millions of people around the world, Dragons Den is a credible option – but it does have its drawbacks.
Applying to be in the Den is quite simple, all you have to do is complete a 5 page application form (click here apply) and send to the BBC in Salford.
Should your application be shortlisted, a process of due diligence is undertaken, where the Dragons Den team carry out further checks. Should you pass this stage, you are put into a pool with other applicants and subject to a final participation process. Who gets on the show is dependant on a number of factors including who the producers feel will make for interesting viewing.
A spin-off from the Japans Money Tigers, the format of the show is for budding entrepreneurs to have an opportunity to present their business ideas to a panel of five investors for financial investment while offering a stake of the company in return. A scheme that has been around for years, but just behind closed doors. Now on its 17 series in the UK, it certainly is a success. Week after week the show is watched by circa 3 million people.
Whether you like it or not, Dragons Den is not really about the entrepreneur gaining investment, it’s about the BBC and the asset they can broadcast around the world. The BBC like all broadcasters have one agenda and that is viewer ratings. That is not to say, the entrepreneurs with a good proposal should not apply to be on the show, far from it. It's just the decision of who stands in front of the Dragons is focused more on entertainment rather than helping create the next James Dyson.
The BBC know that for any TV show to work, they need to captivate the audience and get them talking…. and in terms of Dragons Den, they know that trouble and strife combined with a little bit of comfort and delight is what works.
Although questions have been raised over the consistency of the Dragons decisions and what happens after the show, the primary reason why most entrepreneurs fail to gain the Dragons support is down to a lack of knowledge, evidence and insights, and a failure to appreciate the importance of intellectual property.
Virtually, on every show there is the situation where the credibility of the entrepreneur and their intellectual property rights is under fire. And whether the BBC will admit it or not, this is totally planned. Dragons Dens due diligence process is there for several reasons including to scope out who is a potential winner and sadly who will crack under the pressure. Both of which ultimately get the viewing public talking !
What therefore needs to be considered when applying to be on Dragon Den is ‘what will your purpose be in the show’. The last thing you want is to be the person under fire, who cracks under the pressure because you have covered all the bases.
SO HOW DO GET ON THE SHOW AND STAND A CHANCE
The simple answer is to communicate an image better than the other participants...to be totally passionate and confident about your business proposal, to know all the facts and figures, to highlight an exclusive position... and importantly display a level of professionalism that impresses the Dragons, demonstrating you have what it takes to manage and maximise their investment.
> WHAT WE CAN DO FOR YOU
Assess your project for Dragons Den suitability.
Advise and guide you on the application process, ensuring it meets the standard.
Scope out the questions and provide all the answers.
Position your pitch so it impresses the relevant Dragons, even those with a sore head.
Analyse your IP position, the risks and threats of going on the show.
Sure up your IP to satisfy the Dragons investment criteria.
If you want to be on Dragons Den, our specialist inventor team can help with the process and will ensure you are fully armed to thrive on the show"
Our goal is to help our clients succeed by challenging conventional thinking and delivering a highly considered, innovative and customised service at a price that is fair and reasonable.