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Neil O'Neil - Poweridge

Wind turbine placed under the ridge tile of a roof.

At the end of the pitch the eager inventor is clearly knowledgeable on the subject and teases the Dragons with the offer of tax free profits.

American Dragon Julie Myer has been left with some fundamental questions about how the invention works when wind power cannot be relied on consistently. The inventor elaborates further and explains that the device would never power all the needs of a typical house, but with a battery setup could maybe power the lights.

Shaf Rasul wants to know about the cost. Neil informs him they will cost 拢20 - 拢22 per unit and the average house can fit about 25.

The inventor is again quizzed on whether it could run the lights of a whole house. Neil admits if your house has got 10 chandeliers it won't, but if a household is economic with their lights there is a good chance it will.

Shaf is looking for an investment opportunity, but he can't see how investing 拢50,000 in this a very high risk venture will make him money. Even the inventors repeated claim of tax free profits fail to appease the Dragon.

But Julie is curious and does want to know more about the tax free profits.

He explains he wants the company to be registered as an Enterprise Investment Scheme, Julie concurs all her companies are set up as an EIS. Neil goes to great lengths and explains to an impassive Shaf Rasul that profits are tax free and if the company fails the investors will still get their money back.

Neil showcases the invention as zero risk and maximum profits.

After a brief run through of the entrepreneur鈥檚 very colourful background Julie Meyer admits she likes the inventor but not the invention. She can see he has had lots of ideas but none have made any serious money. Dragons are here to make a profit and for that reason she's out.

Shaf investigates a little further, with another business the entrepreneur could use to fund the development; he doubts Neil's own confidence in his product. Even a last gasp change of tactics and a plea that business contacts are more important than the money cannot save the entrepreneur. Shaf Rasul admits Neil is a great salesman but if he's not in the Den for money then he shouldn't be here. He's out.

Neil's blown it, he's failed to convince the Dragons of his commitment to the project and he leaves the Den empty handed.

Release date:

Duration:

15 minutes

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