CBC Televisions Dragons Den Show Hold Auditions Thunder Bay
By Scott A. Sumner
Thunder Bay Business
Sitting on the ledge outside a meeting room at the Valhalla Inn were several entrepreneurs or would be entrepreneurs waiting to pitch their ideas to Molly Duignan, Associate Producer CBC Dragons Den.“ We are heading into season three and are on a cross Canada tour from
West to East starting in Prince George to Toronto to PEI. We try to spread the word about the auditions and this year wanted to go to some smaller cities. Last year we had 4000 thousand people audition and then 180 faced the Dragons in the Den and less than half of that actually
were on the television show,” smiles Molly Duignan. “ Last year we had 10 episodes and there was 14 deals done in the Den. The Dragons spent abut $3 million of their own money investing in the ideas they liked the most. We try to find the best and brightest and put them in front of the Dragons. They have to present themselves. It is all about first impressions. You get a quick intro and then are asked the questions. One they make the handshake deal there is due diligence and the deals happen.”
“ Last year Atomic Tea was a big winner out of Calgary. They are working on creating the franchise. Some business have taken off without investment such as Ani Vak out of Hamilton an animal vacuum that cleans as well. They had a store front in Hamilton which is doing well
and have got an huge international distribution deal with a Australian equestrian deal according to Duignan. Some people want the exposure more than the Dragons investment.” noted Duignan.
I am 7 interviews in and I have to say there are some good ideas here in Thunder Bay. I find big cities have big ideas usually big tech aimed at an urban market. The smaller places have practical solutions for everyday problems. Those are some of my favourite things, like
gadgets that make life easier,” noted Duignan. “ Thunder Bay seems like the type of place if you need something done you get it done with down to earth simple ideas.I think someone from Thunder Bay will hit it and be invited to Toronto. It is their shot, their chance to give it their
all. Some people were lined up at 7am here. It is a cool job and very inspiring.”
An interesting presenter at the event was an Aboriginal start up company looking to sell a healthy cereal. “ Natures Path has shown an interest in our environmentally friendly, tasty product,” said Ron Allen and Andrew Atweel there to pitch their organic cereal. “ We need
$750,000 to build a plant on First Nations Reserve and can match it with Aboriginal Business Funding. Last year General Mills realized a growth of 8% primarily in health food products. We have invested $30,000 to get a patents on a wild rice cereal that is gluten free. It is made in a kitchen lab setting now and the rice is popped in another First Nation setting at Wabigoon,” noted Andrew Atweel. “We have been giving out samples but not selling it yet. Natures Path want to bring in on line with their products as long as our rice is organic.They will distribute it for a fee. Job creation is one of the things we want to see. Only Aboriginal people can harvest rice in Canada.”
“ The Dragons want to hand you money and then make lots of money back. You have to have a slick plan that is easy to understand,” noted Duignan. “ For a box of cereal it is roughly a $1.80 to produce a box including the packaging.You need to show you are the expert and have
perspective to the industry with other products.”
“ This is a traditional or medicinal value to the product as a healing agent with some rices. That is why my heart is in the product.” stated Atweel.
