Lucky Iron Fish Enterprise sells a simple health innovation to combat iron deficiency. Boiling the Lucky Iron Fish in 1L of water can fortify your meal with your daily required iron intake. It does not change the taste, colour or smell of the liquid it is cooked in and it can be reused by an entire household for 5 years. The following is a first-hand account of Dr. Gavin Armstrong’s involvement with Dragons’ Den.
By Dr. Gavin Armstrong
In the spring of 2018, I was honoured as founder and CEO to represent the social enterprise Lucky Iron Fish Enterprise (LIFE) on CBC’s Dragons’ Den. Dragons' Den is a Canadian television reality show based on the internationally-franchised Dragons’ Den format, which began in Japan. Aspiring Canadian entrepreneurs pitch business and investment ideas to a panel of venture capitalists (called "Dragons") in the hope of securing business financing and partnerships.
My pitch in the Den was made extra special as it was selected to air on the season premiere! Though it was tough, I found the experience to be really fun and I had a fantastic time. When I auditioned to be on the show I thought the minimum we would walk away with was some good PR and exposure. When the Dragons started making offers to invest I was shocked. I couldn’t believe that three out of the six dragons wanted to invest and help scale up the business. [Spoiler alert: I walked away with an amazing deal, having two Dragons invest double what I asked for.]
If you are hoping to appear in the Den, or pitching to a Dragon-like investor, here are 10 tips I’d suggest that can help ensure your pitch is a success:
So remember to take time and reflect on your journey. No matter what the Dragons say, you made it, and that is worth celebrating.