The 1st of March 2016 marked the 3rd annual Dragon’s Den competition at West Lothian College. The event, organised by Sharon Meek (Business and Creative Lecturer), involved 12 groups pitching their business ideas to the 3 Dragon’s, Beth Brownlee, Scott Coutts and Kathy Gibson. Pitching their ideas to the Dragons on the day were 10 Level 4 business students from West Lothian College, 23 students from Stoneyburn Primary School and 15 from Greenrig Primary.
The winners of the West Lothian College Dragons Den 2016 trophy were a Level 4 Business Studies class who had the idea for a children’s book. The company, called ‘Bath Time, Little Bear’ asked for a £60,000 investment for 33.3% of the business, which was accepted by the Dragons Scott Coutts and Kathy Gibson. Kathy commented that “All business plans were very thorough although it was felt that the extensive planning, market research and financials of this company were very concrete, helping them to gain the investment”
Some of the other entrepreneurial ideas included customised shoe laces, solar tents, ‘Kreative’ customised key rings and board games. Both the primary school children and students from West Lothian College planned the business ideas for a number of weeks, with financial statements, market research and advertising all considered when selling their business ideas to the Dragons.
Beth Brownlee said “It was a very tough decision to choose the winner as all groups were very impressive. The Dragons Den competition is a fun and educational event that gives the students real life experience of presenting in front of a panel whilst working in a team to create a business plan and consider the different aspects of business and entrepreneurship.”
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