Dragons' Den (British TV Programme)

''Dragons' Den'' is a British reality television business programme, presented by Evan Davis and based upon the original Japanese series. The show allows several entrepreneurs an opportunity to present their varying business ideas to a panel of five wealthy investors, the "Dragons" of the show's title, and pitch for financial investment while offering a stake of the company in return.

The first episode was broadcast on BBC Two on 4 January 2005. After 16 series on the channel, the show has been broadcast on BBC One since 2021. Reruns of previous episodes are still broadcast on BBC Two. The programme is produced by BBC Studios Factual Entertainment Productions and co-produced with Sony Pictures Television International, the owners of the format that is distributed worldwide.

Programme

Format

Contestants have what they believe to be a viable and potentially profitable business idea but lack funding, or are already operating their business, but need additional funds for promotion or expansion. As part of their opening pitch, they are required to specify the amount of money they require from the Dragons (referred to as such because of their often suspicious, harsh questioning of contestants as well as their having the wealth the contestants seek, similar to legends of dragons guarding gold). The rules stipulate that if they do not raise at least this amount from one or more Dragons, then they would leave with nothing. In exchange for the investment, the contestants offer equity in their business, the percentage of which is also stipulated at the beginning of the pitch. If the Dragons see potential in the business idea or product, negotiations then take place around the amount of equity on offer, with the contestant having the opportunity to negotiate further, accept any offers, or simply walk away. Dragons can also offer a percentage of the money requested if they do not wish to commit the full amount, leaving the other Dragons free to do the same. This can lead to the contestant receiving the financial backing of more than one Dragon, with the benefit of a broader range of expertise. However, for this to occur, the contestant usually has to agree to relinquish a larger share in their business than they had first planned.

A Dragon who, having heard the pitch, does not wish to invest, must declare themselves "out", implying that they leave the discussion. (However, on one occasion in series 4, Peter Jones continued to question an entrepreneur after his own declaration.) This concluding phase may range from a few minutes if the Dragons do not perceive the business plan as credible, to much longer when complex conditions are negotiated. The Dragons often ridicule contestants, on grounds that vary widely, but especially for over-valuation of their respective enterprises.

There is no legal commitment for the Dragons or producers of the show to fulfil their offers. All deals undergo due diligence before contracts are signed. It is claimed that half of deals are not completed after filming.

Set and theme

The opening sequence was shot in Ancoats, Manchester, an area transformed by the Industrial Revolution which helped give the city its nickname Cottonopolis. The sequence features shots of Brunswick Mill, Murrays' Mills and McConnel & Kennedy mills – all three are Manchester's most famous cotton mills from the time of the Industrial Revolution, and their use maintains the programme's warehouse theme. The location at which the pitches are filmed has varied over the years. It was originally filmed inside a furniture depository in Stoke Newington. The production was forced to move after the first series owing to building work next door. For the second series shooting took place in a disused warehouse, Wool House. It was the first set created by production designer Laurence Williams, requiring the construction of a section of the window wall and the staircase down to the lower floor. The owner of this warehouse converted it into flats, necessitating a further move to Tanner Street for the next few series. Here another more extensive set was created, including cutting a hole in the floor and again creating the stairs down to the lower floor. Building work necessitated another move, this time to Pinewood Studios, only two weeks before a series was due to be shot; the production designer had to create a complete set on the film stage, including a staircase which descended down into the underfloor tank. After several more series were shot at Pinewood, the production was moved to the BBC
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