Are you an innovator with a promising business opportunity looking for investment? Wondering about the pros and cons of applying to appear on the CBC show? Read On.

Fundfindr is assisting Dragon’s Den in finding top, innovative ventures to appear on the upcoming season of CBC’s Dragon’s Den. Got a hot venture with some sales or traction? Available to head to T.O. week of June 9? Given our position in the venture investment arena, we hear lots of opinions, pro and con on appearing on TV with your pitch. Here’s our take on some FAQs we hear:

• How do I know if I’m a good candidate? You should have some sales or traction (at least a prototype), have done your homework on the market and differentiation, know your numbers and have honed your pitch many times.
• The idea should be one that you can easily get people excited about and/or have a convincing business model. The Dragon’s want to make big money after all!
• You should be ready for second round or angel financing. This assumes you’ve completed a friends/family/founder’s round to show skin in the game and you are still early stage enough that the amounts invested on Dragon’s Den fit (typically several hundred thousand dollar investments at valuations $1M or so.
• Given the consumer audience, consumer goods and inventions seem to be a good fit; not so much complex b2b technologies or industrial plays. Not a hard and fast rule, mind you.
• Will it hurt me if the Dragon’s decide they are “out” (won’t invest)? Well, that depends if you’re ready, practiced and not intimidated by the Dragons, TV lights, cameras etc. – It’s entertainment TV baby, so prepare for that arena. Often the Dragon’s are looking for 50%, which raises control considerations. Keep in mind, you potentially are gaining some pretty savvy business people, albeit not traditional angels, that may get quite involved in helping you.
• Will someone steal my idea if I present if publicly? We are big advocates of public pitches as the benefits of feedback, collaboration, exposure and so on far outweigh the risks. Just because someone views your idea does not mean they are going to drop everything and compete with you. Besides, you are not revealing your secret sauce! While you are at it, sign up and pitch at www.fundfindr.com and we’ll give you some feedback and an investor audience!
• What are the benefits? There are numerous examples of worthy firms that have leveraged the exposure the show provided to find and secure investment from other. Think of it as a platform not and endpoint. See this Canadian Business article on Life after No . A good showing even without investment can give you a valuable promotional tool. Obviously, if they invest - $$$$ and support. As we tell everyone, far better to own a smaller piece of something big than vice versa. That said, dilute when it makes sense.
• What else should I know? The opportunities are vetted before and if a deal is done, afterward. So, the decision that looks instant on TV can change in due diligence – giving you (and them) an out. While Dragon’s Den is not a realistic presentation of how investment actually happens, it does create a platform for promoting innovation and investment. And being Canadian, it is better than American Inventor, at least!
• No doubt, you’ll make some good contacts – never a bad thing.

If you’re interested, send an email to info@fundfindr.com and we’ll tell you more about next steps. Your next date just might be with the Dragons! Of course, we recommend you publish your pitch at fundfindr too, so you can reach many more than 5 potential investors!

Agree or disagree with our FAQ? Leave a comment.