Tech Savvy Dragons Intrigued By Robotics Business | Dragons’ Den

[Music] Last up is reading-based Chang Liu who Hopes to follow in the footsteps of the Tesla founder one of the richest Entrepreneurs on the planet Elon Musk really inspires me and I Wanted to be someone like him really Making a difference to the to the world [Music] Something out of a George Orwell movie At the moment Jang hopes his business Will be the perfect example of how man And machines can work together in Perfect Harmony Our vision is really in the future that We can create cohesive relationships Between human and robots that ensures The technology benefit Humanity not Destroying the humanity Hello dragons My name is Chang I'm the founder of Extent robotics I come to ask dragons For 150 000 investment in exchange of Five percent of our Equity stake Technology will replace jobs but we Believe no one should be left behind and Everyone can be part of this revolution So extent robotics is building an Intuitive human robot interface software To help people to work remotely by Operating robot through our immersive Virtual reality interface this way their Job can be safer less travel and even Access to global job opportunities

We're pre-trading but with your help we Can transform the way we live and work And make our world a better place I would like to invite one of the Dragons to to try this one Stephen okay Is that because you need to be young to Be able to operate because I'm going to Put that headset on and it's going to Ruin my hair [Music] An augmented reality interface that Allows humans to control robots in a Different location is the proposition on Offer from Chang loon So I'm coming up around the back of this Puppy yeah you can try to grasp the Tails or or legs He's asking for a hundred and fifty Thousand pounds in exchange for five Percent of his business I know you can Lift it on top of the box unreleased let Me go let me go Oh oh tickle these tummy tickle his Tummy now is it good boy Despite failing in operation place the Puppy in the Box the interactive demo Has intrigued Stephen Bartlett Interesting but Deborah meaden is first To interface with the entrepreneur and She wants a better understanding of how Chang's technology could change the World Can you be really clear on the usage That you see

Because you must have been thinking when You were designing it or would this Would be good for that and this would be Good for that yeah so firstly Healthcare Where you maybe need some experts from a Far away distance that you don't have Locally so remote expertise yeah so the Second area is is more industrial Inspection and maintenance And an example is the nuclear Decommissioning and three and the third One is Hospitality so we've been Traveling our system with several UK Restaurants that are actually doing the Bartending robots for them um do you Have a sense of how much this is going To cost yeah so uh the general system The hardware would cost around five to Six thousand so our business is to sell The license for our software ranging From 2000 to 5000 depending on what Robot it is for this particular one is About 1 500 for the license okay Deborah meaden discovers the Chang's Business model has more than one Revenue Stream but Stephen Bartlett wants to Nail down when the concept will start Creating cash When do you think you'll be making money It's probably quite soon because we Already have universities in interest of Collaborating where they have a robot in In care home that's taking care of the Elderly

On that specific application in the care Home can you describe to me exactly what The technology will do in that care home So basically is a is a care home robot That can run around with robot arms and Maybe 20 of the task is automatable There's still 80 that still require Human operations and why is that robot Better than a human in that use case Because that allows people to serve Elderly much more easily what's the Current problem with human serving the Elderly well we'll be having labor Shortage we'll be having more elderly People than we are able to serve with The current labor For me it just feels like it's some way Off being able to put a robot into a Care home and I do feel quite sad about The fact that my granddad in a care home Will be serve his meal by robot I don't Necessarily know if that's the future That I want to buy into either I mean it doesn't stop you from going in Person but it's an option if for example Daddy wants to have a pill that that is Urgently needed and they just needs Someone to pick it up for him and that Would be a big problem if it's late Chang's pitch begins to malfunction a Stephen Bartlett questions the ethics of Replacing care workers with computerized Droids Tuka Suleiman now wants to get a glimpse

Of the business's future and find out if There'll be a pot of gold at the end of This robotic rainbow So for the first 12 months what do you Plan to turn over 200k and how much will You burn in that first 12 months a Little bit less than one million So if you're going to lose a million Pound next year then you're going to Raise more money Yeah So we're planning for next next years For the 1 million rounds well so really If one is taking a five-year view or a 10-year view my five percent it'll Probably be 0.5 by the time you've Raised and raised and raised that's the Problem You know so if I invest today when the Time starts making money I'll be down to Partly anything I'll lose interest But I guess this is the future and I'm Going to leave it for the young ones to Invest so for that reason I'm out Diminishing equity and slow returns are Not enticing for two casiliman and he Terminates his part in the proceedings Does marketing with kids Stephen Barklett share Chang's vision for his Technological mission For technology like this you need to Have typically I think a really clear Entry to the market where you say this Is where we're going to introduce our

Technology and get the world used to it If you had to pick one of the three Applications you talked about earlier Which ones you really think is going to Be the the place where this takes off Well so far from what we have uh in Terms of tractions majority is around Healthcare give me a really specific Example in healthcare closed suction for Example for coffee patient what's close Suction so it's basically you have a Tube that needs to go into the throw and You need to regularly changing that Tubes for the patient that's using the Ventilator so for this technology to be Useful in the application you'd need Real Precision robotics Mm-hmm And what I experienced I couldn't even Pick up a dog So getting to the point where I can't Pick up a dog to the point where we're Willing to trust the robotics to put a Tube into the throat of someone that's Severely ill Feels like a long way off the absolute Crisis we would have if one thing went Wrong once so for us to get there the Amount of testing and evidence and Trust Would have to have in Precision robotics To me feels like we're about five years Off And also you're probably going to need An eight-figure investment yeah for you

To stand a chance because there are Other competitors that are raising Nine-figure investments in this space That are way further ahead and as an Investor for me at this stage it just Feels like too high a risk to take So for that reason I'm gonna have to say That I'm out Even Bartlett deems Chang's Visionary Venture too expensive and walks away From the deal Does Deborah meaden believe this Augmented reality can become commercial Viability It's just really really hard to evaluate The technology and how far it has to go How much time it's going to take and how Much money it's going to take I'm not a you know I take risk but I Don't like jumping into the dark So I'm really sorry I really wish you All the best but I'm out appreciate it Appreciate it Deborah Chan Um some of what you've told me today I Like and I'm on board with or the bits That I don't like I don't like the Thought that even by the time old man he Is in a care home it might be a robot Delivering these nighttime pills but I Do appreciate and accept you are not the One making the decision on where the World's heading you are just going with The floor and facilitating that but I

Think to do that you need people and Investors on board who can be Influential and can assist on that Journey and that's not me So I won't be investing today I don't Know Two more dragons exit the deal making Pizza Jones Chang's Last Hope for Investment As the entrepreneurs cyber science Caught the imagination of the tech Tycoon I was sitting here just asking Stephen Because I can't for the life of me I've Just been going off my little world with The Avengers And I can't remember the the guy that Puts the suit on Robert Downey Jr Iron Man I am iron and man Tony Stark he's the crazy Lake in bed Yeah It's kind of interesting because it's Sort of Iron Man Without the travel Yeah you'd actually don't have to get Into the robotic suit that's exactly What we're doing yeah yeah Um It's an interesting space because I do Think sort of augmenting humans with the Utilization of VR is definitely Something that will be permanent in our Society You can see a time where you could say

Tonight we've got Gordon Ramsay coming To our restaurant exactly you know you Could end up with a Deborah meaden robot Giving you business advice but Deborah's At home in yeah definitely not food Definitely not cooking not cooking no You're pretty appalling at that aren't You yeah I'm appalling but no I do find It interesting that you could be Anywhere And this is your element of Transportation So I really like it Um and I'm going to make you an offer And I'm going to offer you all of the Money But I want 25 because I think that so Many businesses like you've created Spend a lot of money and end up in a in A robotic graveyard And I think I can help you get to a Different place with it I appreciate it all for it that's really Really encouraging Okay not for me think about it Do you want to talk to the robot Thanks Despite into the V for the 150 000 pounds he wants five Times more than the five percent equity That's on the table will the Entrepreneur accept the terms or push For a better deal yeah Okay uh

I would like to accept your offer great Yourself a Dragon's Den Iron Man Well it's like magic this is happening Yeah it's crazy I'm sure walking with Peter will really Change the future of external Robotics And ultimately changing the future of Humanity I think it might be the Robert Downey Down each other It just needs a jet pack and he'll be Off [Music]

Your First Funnel Challenge
Quickly Launch Your Idea And Turn It Into A Business That You're Proud Of In Just 90 Minutes A Day!

(This Can Work Even If You Currently Have No Tech Skills, Don't Have A Product, Or Have No Idea What A Funnel Is Yet...!) 

(Challenge Starts Every Monday)

Leave a Comment