The cast of Dragons’ Den is ‘heartbroken’ after a retired nurse invests £94k in a project they turned down.
Investors at DRAGONS’ DEN were devastated to learn that retired nurse Hannah Widrass had poured £94,000 of her personal money into her idea.
Hannah came to the Den searching for £80,000 in exchange for a 15% ownership in her company. As a nurse, she was often concerned about those who struggled to wash their faces or bend low enough to sit on a toilet, so she invented the Knee Bo.
Knee-Bo is a retro-fit product that allows users to raise the height of their bathroom or toilet fittings to relieve the pain, discomfort, or simply inconvenience of using such goods if they have back or knee issues.
Her idea was created with the intention of providing relief to millions of people who suffer from persistent back pain.
Despite Hannah’s being a “nice lady,” the dragons rejected her plan since they didn’t believe it had a market. They claimed there were existing goods on the market that were quite comparable to hers and did the same thing.
Duncan Bannatyne’s “issue” was that he had “seen this before,” he explained.
Duncan noted that he had witnessed this in 1997 as a former investment in the care home industry.
“I’m not sure how you could have patented it when it’s already on the market,” he remarked.
Hannah informed the Dragons that her product had cost her £94,000 to develop.
Hannah’s Dragons knew she wasn’t “being paid a lot of money” as a career nurse, but she claimed she used her savings to fund her project.
She spent all of her savings over the course of ten years to be able to bring her idea to life, without ever having to borrow any of it, since she is passionate about her product.
Theo Paphitis was taken aback and asked Hannah if she had ever been urged to quit putting all of her money in the product.
“Well, everyone who spoke to me encouraged me that it was a great idea and that there is a demand,” she said.
In disbelief, Theo gave Hannah some tough love, telling her to “face the harsh realities of life.”
“Either this will work, or people will purchase it, or it won’t, and you’ll have to move on with your life.”
“All you have to do now is make a few phone calls, and you’ll have the. “Brinkwire Summary News”.