Do you have a business idea? Enter now for BBC's Dragon's Den
December 17th, 2009
Item submitted by: Northamptonshire Chamber
Entrepreneurs from across the country once again have a chance to make their business dreams come true by appearing on Dragons’ Den. If you’re genuinely seeking investment for your business idea or invention, the BBC would like to hear from you.
Last series saw some of the most diverse range of inventions and business ideas receive offers of investment from the multi-millionaire investors. All of the Dragons were won over by entrepreneur Sharon Wright and the simplicity of her cable wiring device. Rupert Sweet-Escott went into business with James Caan, who was impressed with his unique range of aviation designs and prototypes, and Carol Savage chose to accept Deborah Meaden's offer of a cash injection into her tasty new food networking website. In fact, when the Den finally closed for business, an incredible 15 entrepreneurs managed to convinced the fearsome financiers, they were worthy of their cash.
The rules are simple - entrepreneurs can ask for cash investment in return for equity in their business. However, they must get the at least amount they ask for or they will walk away with nothing. The Dragons are prepared to listen to a pitch for any kind of business but they must be convinced that it will make money.
As demonstrated by the investments in the last seven series, ideas, businesses and products that meet some or all of the following criteria stand a good chance of securing the Dragons’ interest:
- A Unique Selling Point: a product that serves a need like nothing else
- Scalability: something that can be up scaled to make real money
- Route to Market: the clear way the product can be sold and marketed
- Mutually Beneficial Arrangement: just what will the Dragons get out of it?
- Exit Strategy: a plan of how the entrepreneur/Dragon will exit and make money
The BBC is currently searching for Britain’s best entrepreneurs and will be auditioning throughout the coming months. We want to hear from anyone who thinks they’ve got what it takes to enter the Dragons’ Den.
Click here for an application form, send an email to dragonsden@bbc.co.uk or visit www.bbc.co.uk/dragonsden
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