Raising Finance

Published

Intellectual property sticking point means failed trip to Dragons’ Den for Colapz

2 Mins

Going on the show to offer a 15 per cent stake in their business for the investment sum, David Fannin and Shaun Moore explained that they had sold 65,000 units through their own website and worldwide distributors.</p >

However, when the Dragons, who include Peter Jones, Duncan Bannatyne and Piers Linney, found out that the pair had a previous equity partner who temporarily retained the Colapz intellection property rights as part of a buyout settlement deal, they all declared themselves “out”.</p >

The Colapz product is a light-weight watering can that is collapsable and is marketed at caravanners as well as gardeners. Furthermore, the entrepreneurial duo behind the product believe it could be suited for water transportation in developing countries. Fannin and Moore together run product design and sourcing company Sorcit.

Explaining what it was like to be on Dragons’ Den, Fannin said: “It was a fairly intensive four months, from when we got the first call to going in front of the Dragons.

“They really liked the products, so it’s a shame that we lost their interest on a technicality, but I have to say, I would do it all again.”

Read more about Dragons’ Den:

Share this story

Former Manchester United stars Ryan Giggs and Gary Neville set to kick-off Hotel Football
The Only Way Is Essex (TOWIE): A startup hub for young entrepreneurs
Send this to a friend