Dragons' Den (Canadian TV series)

Dragons' Den is a Canadian television reality show based on the internationally franchised Dragons' Den format which began in Japan. The show debuted on October 3, 2006, on CBC Television, and is hosted by Dianne Buckner. Aspiring Canadian entrepreneurs pitch business and investment ideas to a panel of venture capitalists (termed "Dragons") in the hope of securing business financing and partnerships. The show also has a Quebec-only spin-off called Dans l'oeil du Dragon (literally 'in the Dragon's eye').
As of November 7th, 2024, 294 episodes of Dragons' Den have aired.
Each typical episode features approximately eight pitches, along with a brief synopsis of a further three pitches which usually were rejected by the Dragons.
Each pitch begins with the entrepreneur specifying the amount they are seeking as an investment and the percentage of their business that they are offering in exchange. Entrepreneurs generally describe their business and provide financial details in respect of their costs, sales, and profit margins. Pitches range from those at the conceptual stage to full-fledged long-term businesses. The Dragons ask the entrepreneur questions in order to assess whether their business is one which they would consider investing in. Each Dragon ultimately will either make an offer to invest or will declare that they are "out", meaning they are not interested in the business. Once all five Dragons are "out", the pitch ends.
While some entrepreneurs are made offers of exactly what they are seeking, most of the offers the Dragons make either seek a greater percentage of the business (equity) or seek a royalty on the sales of the business (this has become more prevalent in later seasons). The entrepreneurs and Dragons may then engage in negotiations until the available offers are either accepted (and a "deal" is made) or rejected.
While Dragons often partner up and make joint offers, they just as often make competing offers. Each of the Dragons has a unique set of skills and connections which sometimes results in the entrepreneur being forced to choose between offers (which might be offering the same or different economic terms) based on the "added" value the specific Dragon would bring to the business.
The main "rule" as set out at the start of every episode is that the entrepreneur is not permitted to accept an offer or multiple offers unless they would receive a total investment of at least the amount that they initially sought. The main ramification of this restriction is that entrepreneurs are often criticised for over-valuing their businesses. This is because the amount sought by the entrepreneur may be more than 50% of the value of their business as perceived by the Dragons (the Dragons rarely make deals for greater than 50%) and sometimes more than the entire value of the business as perceived by the Dragons. The restriction means the Dragons cannot offer a lesser amount that is more in line with their perceived value of the business.
Notwithstanding the acceptance of offers on the show, and the handshake agreements, the offers on the show are generally subject to due diligence by both parties and many "deals" made on the show do not ultimately close or close at different terms than originally expected. The show sometimes offers updates on both deals which were made and entrepreneurs who were rejected, including certain special episodes focusing exclusively on updates.
Skeptics criticized a twelfth-season episode of Dragons' Den for its handling of a wellness company claiming to be able to improve neurological function from a distance. The company, NeuroReset, presented pieces of copper that clip onto the user's clothing and sell for $80. The founders, a golf coach and a chiropractor, claimed that the operating principle of the clips was quantum entanglement. After applying pressure to some of the investors, with and without the clips, the pair convinced five of the six Dragons to buy equity. Manjit Minhas, while not part of the final deal, expressed interest in the product as well. After the taping of the episode, the agreement fell apart in due diligence and Health Canada ruled that three NeuroReset products must be removed from sale. Joe Mimran admitted that he was deceived by the pitch.
Two spinoff shows featuring Dragons on their own have been created, Redemption Inc. with Kevin O'Leary, and, The Big Decision with Arlene Dickinson & Jim Treliving.