Dragons' Den (Canadian TV series)

Format

Each typical episode features about eight pitches, plus brief synopses of three more that were usually rejected. Entrepreneurs begin by stating the investment amount sought and the equity percentage offered. They describe their business and provide financial details on costs, sales, and profit margins. Pitches range from conceptual ideas to established long-term businesses.

Dragons ask questions to assess whether to invest. Each Dragon either makes an offer or declares they are out; when all five are out, the pitch ends. Some entrepreneurs receive offers matching their request, but most offers seek a larger equity share or a royalty on sales, the latter becoming more common in later seasons. Negotiations follow until offers are accepted or rejected.

Dragons often make joint or competing offers, each bringing unique skills and connections that may influence the entrepreneur's choice. A key rule is that entrepreneurs cannot accept an offer unless the total investment meets at least the amount initially sought. This restriction often leads to criticism that entrepreneurs overvalue their businesses, as the amount sought may exceed 50% of the Dragons' perceived value, sometimes surpassing the entire perceived value.

Dragons

The panel has included both current and former Dragons. Each Dragon's tenure is indicated by season numbers in the notes.

Reception

A twelfth-season episode drew skepticism for its handling of NeuroReset, a wellness company selling copper clips for $80 that claimed to improve neurological function via quantum entanglement. The founders, a golf coach and a chiropractor, convinced five of six Dragons to invest after a demonstration. The deal fell apart during due diligence, and Health Canada ordered three NeuroReset products removed from sale. Joe Mimran stated he was deceived by the pitch.