In a recent episode of Dragons’ Den, a tech entrepreneur successfully valued their company at an impressive £63M. The pitch had the dragons hooked, but what exactly convinced them to invest in this startup? In this blog post, we’ll take a closer look at the investment pitch, the entrepreneur’s values and what we can learn from their success.
Tech Entrepreneur Values Company at £63M on Dragons’ Den: A Look Inside the Investment Pitch
Introduction
Dragons’ Den is a popular British television programme where entrepreneurs pitch their ideas to investors, also known as dragons, in hopes of obtaining funding to grow their businesses. First Light Solutions, a technology-based company dealing in hardware and software from within the electronics industry, recently appeared on the show to seek investment for their innovative product: a Man Overboard (MOB) alarm system for the marine industry. In this article, we dive deeper into the pitch and explore the features and benefits of their MOB device, as well as the reactions of the dragons.
The Man Overboard (MOB) Alarm System
First Light Solutions has designed an MOB alarm system that aims to address the safety concerns of the marine industry. As soon as the MOB device, which every crew member wears, falls into the water, it immediately starts transmitting sonar acoustic digital packets, picked up by the hydrophone listening device. The device detects vital information like GPS coordinates, gives a visual and audible alarm, and logs the identity of the crew member who fell into the water. The MOB alarm system is a reliable and effective tool for saving lives in emergency situations.
Key Features of the MOB Alarm System
- Designed for the marine industry
- MOB device worn by every crew member
- Transmits sonar acoustic digital packets
- Hydrophone listening device picks up signals
- Provides GPS coordinates and logs identity of the crew member who fell into the water
- Gives visual and audible alarm
Investment Pitch on Dragons’ Den
During the investment pitch segment on Dragons’ Den, Matt Hazel, the managing director of First Light Solutions, pitched his MOB alarm system to the dragons. Hazel was seeking a £100,000 investment for a 5% stake in the company, which valued First Light Solutions at £2 million. Hazel aimed to sell 25,000 MOB systems within the next three years, which would generate a turnover of just under £9 million.
The Dragons’ Reactions
At the start of the pitch, Mark questioned the market for the product, but Hazel believed that a lot of boat owners are concerned about safety. Deborah and Duncan had concerns about the product and opted not to invest in it. Peter Jones and Richard Farley were the two remaining dragons, but both decided not to invest due to the absence of a working model and concerns over testing. Despite their doubts, the dragons recognized that the product was unique and had no apparent weaknesses.
Conclusion
First Light Solutions’ MOB alarm system is a revolutionary product that addresses the safety concerns of the marine industry. The product is unique and has no apparent weaknesses. Although the dragons did not invest, the pitch highlighted the potential of the MOB alarm system. As First Light Solutions continues to innovate and develop their product, more investors will undoubtedly show interest in their revolutionary technology.
FAQs
- What is First Light Solutions?
First Light Solutions is a technology-based company dealing in hardware and software from within the electronics industry.
- What is the MOB alarm system?
The MOB alarm system is an innovative product designed by First Light Solutions for the marine industry. It immediately detects when a crew member falls overboard and provides vital information such as GPS coordinates and visual and audible alarms.
- What was Hazel seeking on Dragons’ Den?
During his pitch on Dragons’ Den, Matt Hazel was seeking a £100,000 investment for a 5% stake in the company.
- How many MOB systems did Hazel aim to sell within the next three years?
Hazel aimed to sell 25,000 MOB systems within the next three years, generating a turnover of just under £9 million.
- Why did the dragons not invest in First Light Solutions?
The dragons did not invest in First Light Solutions due to concerns over testing and the absence of a working model.
