Irish entreprenuers to feel heat in Dragons' Den

Budding Irish entrepreneurs are to be given a chance to sell their business ideas to a group of wealthy investors in a new television series which is to air early next year.

Dragons' Denwill see hopeful entrepreneurs presenting their business ideas to five established business leaders, who will offer capital in return for a stake in the project if the candidate can convince them of its worth.

Five Dragons with a range of business backgrounds, from construction to retail, have been selected for the RTÉ series, which is to be hosted by Sunday Business Postdeputy editor Richard Curran.

The Dragons' line up features Niall O'Farrell of dresswear provider Black Tie, media consultant and property investor Gavin Duffy, web innovator Sarah Newman, construction technology systems provider Sean Gallagher and Bobby Kerr of the Insomnia Coffee Group.

The programme is being produced by Screentime Shinawil, who are also behind the TV3 version of The Apprentice, which features entrepreneur Bill Cullen.

"There's a very strong tradition of enterprise and entrepreneurship in Ireland and I think that is recognised on the world stage and I think very many people always harbour the idea of at some stage setting up their own business,"Mr Gallagher said.

"If we get the right response from Irish entrepreneurs we will be helping people at a time when finances are hard to come by,"Mr Duffy added.

The show follows a tried and tested format that has proved a success in over a dozen nations since it was created by Nippon TV in Japan.

Each week a selection of potential entrepreneurs make a brief presentation of their business idea to the Dragons, who in turn probe for development plans and information about the business they are being asked to invest in, before either dismissing or part financing the proposal.

The Dragons will be investing their own money in the ideas they take a shine to and Mr Duffy said there will be no love lost between the Dragons when a good proposal presents itself.

"I want to stress that in there when a good idea does come up I'm not going to let the guys get in ahead of me if I can take it on and that's part of the show because we will be competing among ourselves also," he said.

"At this crucial time for the economy we will be looking for businesses that are both creative and innovative and also those that have the potential and the scale that we as dragons could support them financially through our experience to help launch them beyond the irish domestic market to a world stage," Mr Gallagher added.

Would be entrepreneurs interested in pitching their ideas to the Dragons can apply online at www.rte.ie/dragonsden or call 01 4066433