The ‘Dragons’ Den’ Style Pitch

1. The ‘Dragons’ Den’ Style Pitch

2. The Scenario • Your team/group forms part of the Novel Concept Department of a large multinational company which has significant capability within the chemistry sector. • This company is forward thinking and realises that many of its products are coming off patent over the next few years which will significantly affect the overall profits of the business. • The directors have challenged your team/group to come up with novel chemistry-based products, ideas or services which can be commercialised to secure the future success of the company. • The directors have a ‘money is not an issue’ approach if they feel that your idea and business plan is of suitable quality to take on to the next stage of the developmental process. • You therefore will not need to ask them for capital investment (money). • The directors will award a prize to the group who they feel have the best understanding of how their idea, product or service will benefit the company in the future.

3. Points to Consider The background of the idea, product or service: • What is the problem being addressed? What is the solution to this problem? How does it work? Is there market need? Why this need is currently not met? • What is the closest current solution to the problem? Is this solution better than the others currently available? • Can it be made? Does it require chemistry to operate/manufacture? The market for the idea, product or service: • Who is the market/customer? Where are the customers and how large is the market? Is the market growing or contracting? • Will the customer buy the product? Is there any competition in the market? How will we beat the competition? What is the future for the idea, product or service: • How will the product be taken to the market and sold? • Can the product be patented? Why is it novel and inventive? • Are there any regulatory requirements that need to be overcome? Will this be difficult, time-consuming or expensive? • Where could the idea, product or service be taken in the future to grow the business as a whole?

4. The Rules The Pitch • The first pitch will commence at 1515. • Each group member MUST speak during the pitch and answer questions. • Pitches must notbe longer than 8 mins, with 2 mins of Q&A. • A hand drawn poster can be made to assist you with your pitch. • All pitches will be filmed and posters photographed for archiving purposes. • The panel may ask you ‘hypothetical’ questions. You are free to think on your feet, and give a well balanced answer to these questions. The Proposal We are giving you a free license to claim whatever you like during your pitch, as long as it is within reason. For example you may say that: • The technology on which your product, idea or service relies on exists, even if you are not aware that it does. • That the company has the technology and capability to make your idea, product or service a reality, even if you are not aware that it can be made. • That you could file for a patent to protect your idea, product or service even if you think someone else may have already done this, etc.

5. Points to Consider The background of the idea, product or service: • What is the problem being addressed? What is the solution to this problem? How does it work? Is there market need? Why this need is currently not met? • What is the closest current solution to the problem? Is this solution better than the others currently available? • Can it be made? Does it require chemistry to operate/manufacture? The market for the idea, product or service: • Who is the market/customer? Where are the customers and how large is the market? Is the market growing or contracting? • Will the customer buy the product? Is there any competition in the market? How will we beat the competition? What is the future for the idea, product or service: • How will the product be taken to the market and sold? • Can the product be patented? Why is it novel and inventive? • Are there any regulatory requirements that need to be overcome? Will this be difficult, time-consuming or expensive? • Where could the idea, product or service be taken in the future to grow the business as a whole?

6. Authors Dr. Trevor Farren, Dr. Simon Mosey & Dr. William Drewe Organisation School of Chemistry, University of Nottingham, U.K. Supported by: