Pioneering new invention grabs the Dragons’ attention! | Dragons’ Den – BBC


Next into the den is Sussex based serial inventor Stephen ransom I Sit down and look at what problems are in an industry and then try and solve it with technology. I Hope that they see the quality and thought has gone into the product Hello dragons, my name is Steven ransom And I’m here today to ask you for a ninety thousand pound investment In return for a 20% share in our business brighter bikes The brighter bike indicating system is a wireless indicating and braking system that fits easily onto any handlebars onto any helmet Seat post or any backpack the cyclists come now for the first time indicate, right Indicate left and break We have a patent on the key aspects of the design and we have an EU design patent pending We are looking for a dragon or Dragons to help us bring this system to a potentially worldwide market Thank you for listening. And would you like to see the product? And indicating and brake light system for bicycles but your helmet on yeah, yes is the offering from Stephen ransom Who’s looking for 90,000 pounds in return for a 20% share of his business Tej Levani wants to know more about Stephens Eureka moment Hi Stephen, I’d like to find out about Your background. How did you come about this invention? And what did you did before? Okay My business life soft in 2004. I was following a truck That was having real difficulty in reversing into some factory gates and I asked the driver if he had any aid to help him reverse and he said the guy who invents something for me for that is going to be a bleep bleep bleep millionaire and That gave me the idea to begin a business installing cameras and Proximity sensors into large trucks and as you become a millionaire Not yet now This business here grew out of that Are you the only company doing? Indicator lights for cycles. Well a lot of the systems out there they haven’t thought about Handlebar. Oh, right. There isn’t one single indicating system that has a little button on each side So existing systems don’t have the indicator buttons on the handlebars what you’re saying? No, there’s nothing out there on the market That does what this system does to the same degree of simplicity and high visibility So manufacturing price 63 pounds at the moment because we are we are manufacturing in the UK selling price 145 pounds The price of Stephens product has set alarm bells ringing in the den and Retail magnate touka Suleiman is concerned that persuading ordinary cyclists to buy it could be an uphill struggle Steve what? I’m trying to get my head around because I think if you said to me we’re selling it for 69 pounds That then gives you a product but you can go out to the market. Yes and selling volume or even online This is just one arm of the business that we see because another huge market that is developing is called last mile Which is where supermarkets looking to use a cargo bikes in order to make their last mile deliveries We want to be first in the market in a potentially very large indicating and breaking market for cycles So, what are you predicting that you’ll sell then a new one with my investment we want to sell thousand units But then we would hope with those thousand that have gone out to all the key decision makers traction has been drawn from our website We would hope to sell 10,000 in the second year. That’s what we’re hoping for I’m struggling to get convinced about the demand for this product and I feel like we’re grasping its potential sales figures for the future when we talk about year one having a thousand units out with employers and then going tenfold I Would call that fanciful projections my experience in the other business that we have is that proven technology usually drives legislation Already in Holland. It is obligatory for faster electric bikes to have breaking lights Well if you’re waiting for legislation to make a sales push for you I wouldn’t devour you. If you need to create a product that there’s a real demand for You’re a great inventor But I’m not sure we’ve hit quite upon the one that’s really going to make us Millions Wish you all the best but I’m out. Okay a Letdown for Stephen as the cashpoint queen punctures his hopes of investment Will Deborah Medan get things back on track? I actually think legislation is the driver As soon as people sniff legislation on the horizon That’s when the marketplace starts holding up already in the Netherlands those indicators and brakes are put on the rear Either on the rear mudguard or on the seat post and so this will mirror that exactly That could be an issue that even couldn’t it because if that’s legislation Every bike manufacturer will incorporate that into their bike as standard so we could go down the next 12 months developing the product Yes, but actually in two years your product becomes obsolete We don’t let that faze us Five or six years ago when we were in the camera industry. He would say that market hardly existed, but now Nearly every truck comes with camera systems and sensor technology We want to be known as the people who can solve bicycle indicating and I mean Steven look you’re your biggest threat really is legislation I believe When that does happen bike manufactures are definitely going to go straight to us developing their own systems on the bike Which means you may struggle? So on that basis, I’m gonna have to say I’m out Do you mentioned about your other company you must have some big customers? Yeah we do. Um, so who would they be Well, our first customer was fantastic was Tesco. Oh, right, okay Sainsbury’s we supply cameras and screens to science berries, we also supply Stobart and Last year as a business, we turned over 1.4 million and we had a net profit of three hundred ninety five thousand So Stephen you’ve come for an investment for a business that doesn’t exist You’ve invented a product that still unproven because you have made any no So for ninety thousand, could I invest in your main business and include this in it? Don’t even go to the wall on that one Yes is the answer good The entrepreneurs willingness to offer up a slice of his already successful business as part of any investment has whetted Tuco Suleiman’s appetite for a deal and Deborah Medan seems impressed by Stephens business achievement to date You have actually got a track record of a good nose I call it. Thank you And I’ve got a good nose. Oh, you know, it’s just that thing that there’s something here And actually Once you’re part of a field you can actually start driving the legislation That to me is the big piece of work here that says actually we can be part of this Which I find quite exciting So I’m going to make you an offer it is for the whole company And I will recognize the fact that you’ve got a business. It’s already making a profit of four hundred thousand pounds It wouldn’t be right of me to ask for 20% of that business I’m going to do a very unusual things In the door for you ninety thousand pounds but I want 15% lower than the percentage you’ve asked for, but I want it for the whole business Okay, thank you, I don’t know what to say On offer all of the money in return for 15% of his entire business Stephen may be at a loss for words, but Peter Jones, most definitely isn’t Stephen I really like the product. Thank you. The other thing is I actually really like your other business. I Think there’s real innovation to come actually and there’s a huge market potential really exciting marketing And it really doesn’t surprise me that miss Medan has stepped in straightaway because she sees the bigger opportunity. I Was almost hoping that she would say a slightly larger percentage But she didn’t So Steven, I’m gonna offer you all of the money For your whole business For 15% so the same is Debra. Yeah, it’s funny that The race is on to clinch the deal with Peter Jones in tandem with Deborah maidens earlier offer Is touka Suleiman preparing to make a sprint finish of his own I’m gonna make you an offer but I’m gonna make it a different way. I Don’t want to feel that you’ve come into the den and I’m taking advantage of getting to your other business So I’m gonna offer you all of the money But I only want 10% of your main business And I want this to be a separate business, but I want 40% of that because I’m gonna add a lot of value for this So 10% of the main business and 40% of this. Yes Three competing offers are now on the table two identical 90,000 pounds for 15% of the whole business and one very different The time has come for Stephen to signal his intentions I’ve read all of your backgrounds And I would love to say I’d love to take all three of you But the two people most prominent in my mind or a piece when Deborah Please don’t take that the wrong way Tucar Steve I guess on that basis. You don’t really want me investing your business. I’m out Well, it would be wrong to say that Tucca . yep concentrate on us .cuz that’s fine concentrate on us Well, then would you two be able to work together ? I Would be happy to offer you half of the money For seven and a half percent of the whole piece. Yes And I’d be happy to offer you half of the money for several a half percent I’d be delighted to go ahead Firstly I think you made an excellent choice there Success for Stephen who rides away with to business pacesetters and That small matter of 90,000 pounds tucked safely in his saddlebags I’ve been on a roller coaster and just elated can’t quite believe it I’m surprised thought there’s no way we’re gonna get it Hopefully that makes you feel better It’s real this happened I’ve got two investors




Comments
  1. Honestly as soon as you said last mile deliveries, I was sold. I'm damn sure with all those bike Messengers especially in densely populated cities there's a huge and growing market for him

  2. Jenny : what are you predicting to sell with my investment?

    Well actually jenny we plan to sell nothing with your investment as we know it doesn't exist and you're just full of BS…

    Love watching these and credit to jenny as she is successful though always come to the comments on a jenny episode as she's just useless on the show…

  3. What's your invention?
    It's bread and milk…
    Jenny : sorry I just can't grasp what use it would be therefore I'm out.

  4. Very bad move from Tuka. If he "doesn't want to take advantage" of him, why demand equity from 2 businesses when 1 of them has nothing to do with the pitch? …and ask for 50% from him? Glad he dismissed Tuka…

  5. Hi I'm offering 1% of my cure for constipation company in return for £1.5000,000,000,000….i I'm Debra and for that reason I'm in😄😄😄

  6. Narrator: “…the cash point Queen…”

    Um, I think Jenny is nothing but the Queen of never investing on anything….

  7. the size of the lights and positioning don't satisfy the requirements of either the british DOT(dvsa) regulations, nor the EU road safety regulations for road going vehicles, so even if you had this it would only be a secondary device to the actually legal hand signals, ie if involved in an accident the insured motorist could never be found at fault if the cyclists intentions were purely reliant on this device only 😉 PS there is still no legislation even now incorporating this as hand signals are still the actual law and personally at night apart from the actual mandatory rear and front lights i wear reflective gloves so my hand signals are clear to a following motorist with headlights so yet again another invention for a problem that doesn't exist and legislation that wont change in any of our lifetimes tbh 🙂

  8. Both of the Dragons pulled out of the deal, did not want to sully their brand with that opinion of taking advantage. The Guy has written an account of his Dragon's Den experience and is on his Traffic Angel web site. https://www.trafficangel.co.uk/dragons-den

  9. Oncoming traffic cant see the indicator so a cyclist needs to out there hand out anyway to signal right or left so kinda pointless

  10. Ur product is awesome,ur investable but there r other dragons who can add value to ur business becoz I'm Jenny……..so I'm out!

  11. They offer 90k for 15% of a business (valuing it at 600k) making 385k net profit??…and the guy says "I don't know what to say" ??…you say no!!!!!!

  12. I think touker came up with this great idea about investing in the whole business, he surly has raised both deborahs and peters attention, while he could have kept the idea to bargain and ultimately win the deal

  13. That was a lot of nonsense. I am dutch and live in The Netherlands , I have yet to see someone on a bicycle here stop at red light let alone have indicators and brake lights on the bicycle.

  14. Honestly the selling price isn't bad in my opinion when you compare it to bike prices and the cost of car parts it worth it if a good warranty is attached

  15. Legislation – he could licence his invention to industry. Or, he could be the market leader with top quality products.

  16. This is honestly Nothing New!! I've fitted similar brake/indicator lights to bikes at our shop as long as 8 to 10 years ago… and yes, they did have the remote indicator buttons on the bars!! But it was a Nice try mate! 🙂

  17. Jenny you have won the lottery please accept this prize of 100 million pounds
    Jenny: I would call that fanciful projections, you're a great competition maker but I'm not sure we've quite set upon the one that will make us millions, I'm out

  18. No one else feel bad for touker going from unwanted to forgotten ?
    I'm not the bearer of bad news but just watch it again and watch him the entire time. Sorry touker and you're welcome.

    If it makes it better…Jenny's eyes isn't aligned properly

  19. So the government is going to create a barrier to entry of £145 to riding a bike through legislation? These dragons are in a dream land. Government does not make laws that people won't follow because it humiliates and undermines the government.

  20. Rip off, its just 3 lights and plastic, and a remote basically.
    I could build one myself with arduino for close to nothing.

  21. It’s November 2018 now and Peter and Deborah have since pulled out of the investment. At first, we were shell-shocked. Why did they pull out? All the due diligence was carried out with no issues. So, why the turnaround? There were two reasons it seems. Firstly the BrighterBike indicator was not going to be ready for sale by Nov 4th 2018 transmission date but we had explained this and the viable reasons why, and secondly, and we think the more fundamental reason; we were told the Dragons team had looked at the TrafficAngel equity share the Dragons had asked for in the Den and it was felt they had been given too good a deal out of TrafficAngel. Their £90,000 cash injection for 15% of the business undervalued the company and therefore it could be viewed that Peter and Deborah were taking advantage of an already established business in which they had also made nil contribution.

  22. They could have asked for 10% each for the added value of 2 Dragons. But they didn't get greedy. Which was interesting..
    Are there days when they just don't feel like selling themselves?

  23. I haven’t seen the video, came straight to the comments and I’m currently predicting the future and saying that Jenny is out…

  24. Tuka came up with the idea of investing in the whole business. He should have waited till the end until the others placed their offers.

  25. This invention won't work for me as a cyclist. No front visibility. I am not convinced the horizontal spacing between indicators is enough to be recognised as other road users as "I'm turning X". And for me, the main safety feature is being visible.

  26. Hi, I’m Jenny. You’ve got a good nose apparently and I can fart really loud.

    Oh, by the way, I’m out, so I’ll go fart in the lift before you go 🍑 💨 💩

  27. I saw a cyclist with this and thought it was a brilliant idea! Usually cyclists make me a little nervous especially approaching junctions/lights and roundabouts but this is great 👍 makes it way easy to read

  28. Why he needs more money?he already has a business why he is trying to earn more money .I hate this greed for money.I hate that useless stupid people that have money.this is modern slavery.nobody should own a company or business all people should earn for their mere works not their money.

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