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Final night time noticed the primary episode of the brand new 2010 collection. The lineup was the identical and it was fairly an attention-grabbing present. Right here is my Dragons Den concepts evaluate – abstract and evaluation: a compensate for the details and my ideas on what occurred for the primary entrepreneur, Derek Cozens.
Entrepreneur 1 – Derek Cousins (Stream Indicators)
The primary entrepreneur confirmed off a light system for attaching to current street indicators. He claimed that they will help enhance security in varied conditions. He needed £50,000 for 10%.
The pitch appeared fairly assured however the Dragons look bored after which began to chuckle and assume it was some sort of joke. They appeared to assume it was not a viable invention.
Peter Jones ridiculed the idea and it turned out the man had invested £25,000 already invested in it. Deborah Meaden dug deep and discovered that the concept was truly disliked by somebody presumably excessive up within the trade (I did not 100% absolutely perceive this half). Theo and Duncan weren’t satisfied by the patent and even the enterprise mannequin. The inventor was adamant that it may work although.
In truth, Cozens did not appear to have the ability to again up his perception with any concrete proof that there was any potential within the venture.
One other nail within the coffin was that Cozens couldn’t even determine anybody else as having any religion in his product. Deborah declared herself out at this level. Theo adopted shortly after.
Duncan slaughtered him by declaring Cozens the winner of the “worst invention ever to be brought on Dragons Den” after which declared himself out!
Lastly, he was shooed out of the Den. All in all, the smug Dragons have been fairly impolite nevertheless it’s hardly the primary time they’ve been!
My Verdict
I agree with the Dragons. This gadget may sooner or later have some benefit. I can think about a time when an clever lighting system may improve the present system of indicators and enhance security. Nevertheless, Cozens has nothing greater than a pipe dream and, worse than this, he doesn’t seem to take any criticism on board. He has no assist for his thought, it isn’t clear if he has a patent, and but he was nonetheless making an attempt to persuade the Dragons. He has spent far an excessive amount of cash on this venture and ended up nowhere. He must ditch it now and look into different issues. At some point, an clever site visitors lighting system would possibly work nevertheless it will not be him who will invent it, in my view.
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