Dragons'_Den

<i>Dragons' Den</i>

Dragons' Den

Reality television program format

Dragons' Den is a reality television program format in which entrepreneurs pitch their business ideas to a panel of venture capitalists in the hope of securing investment finance from them. The program originated in 2001 in Japan, where it is known as The Tigers of Money (Japanese: マネーの虎, romanized: manē no tora), a pun on "The Tiger of Malaya" (マレーの虎, marē no tora), which was the nickname of WWII general Tomoyuki Yamashita.[1] The format was created and is owned by Nippon TV and is distributed by Sony Pictures Television.

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Local versions of the show have been produced in over 40 countries, as well as one for the Arab world and Morocco; in some countries, more than one version has been aired. The first version to air outside of Japan was the British programme Dragons' Den, which launched in 2005; in the several years afterward, most versions named themselves Dragons' Den or variations thereof, though some also used other animals in the title, such as lions. Since the launch of the U.S. version of the show, Shark Tank, in 2009, many versions have been named Shark Tank or variations thereof. In versions where the name of the show contains a creature's name, the investors are referred to by that name. The Israeli version of the show, HaKrishim ("The Sharks"), was the first to use the "shark" moniker, during its launch in 2006.

Format

The contestants are usually inventors, product designers, or service operators who have what they consider to be a viable and potentially very profitable business idea, but who lack funding and/or business acumen. They pitch their idea to five rich entrepreneurial businesspeople, who in most iterations of the show are referred to as "dragons", "tigers" (in the original Japanese show), "lions" or "sharks". Before the show, the contestants have named a specific amount of money that they wish to get along with a percentage in the business that the contestant is offering to sell to the investors. The rules stipulate that if they do not raise at least this amount from the dragons, they get nothing. In return, the contestant gives the dragons a percentage of the company's capital stock, which is the chief point of negotiation. The program does not show the entire pitch as scenes are selected and edited from the episode due to time constraints.

The dragons probe the idea further once the contestant has made the presentation. This will either reveal a sound business proposition resulting in an investment offer from one or more of the dragons in return for equity or a withdrawal from the transaction by either the contestant or all of the dragons. A rejection by the dragons is often given as "I'm out" which is usually triggered (in the investor's opinion) by the investor asking for a larger equity stake in the business than the contestant wants to give up, the contestant's valuation on the business being too high compared to its overall profits, the product not having any proprietary value, or the investor's belief that they cannot add value to the business. Sometimes the dragons identify troubling facts such as an embarrassing lack of preparation on the part of the contestant, the contestant's lack of business knowledge, their perceived margins, competitors, insufficient sales, or high manufacturing costs. Contestants often negotiate and barter with the investors. The deals agreed to on the program may or may not actually be carried through.

International versions

  Currently airing
  An upcoming season
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  No longer airing
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See also

References

  1. [1]
    Tanaka, Yuki (1 September 2008). "Last Words of the Tiger of Malaya, General Yamashita Tomoyuki". JapanFocus. Archived from the original on 16 October 2013.
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