North Somerset inventor backed by two Dragons

North Somerset inventor Chris Elsworthy, 34, is celebrating after two of the famed entrepreneurs from TV’s Dragons’ Den backed his business C Enterprise Limited with an offer of £150,000. 

Viewers saw how the demanding Dragons grilled Chris when the BBC programme aired on Monday evening (30 August).

Whilst in the spotlight, Chris from Portishead, was able to strike a deal with Peter Jones and Duncan Bannatyne – securing a combined investment of £150,000 for a 30 per cent stake in his business. 

Chris said: “I was so nervous but then it was such a buzz to do a deal with two people that can help me build my business significantly.

“You have three minutes to pitch for investment without notes and then you answer questions. In my case they took two and a half hours to dissect my business plan – it was really tough.” 

Peter Jones said: “We were immediately impressed with the products Chris has already taken to market, and he gave us reason to believe there were many more to come.” 

The business started in 2006 when Chris converted his garage into a combined workshop and office.

The first product developed was the POWER8workshop; an eight-piece power tool set, which when combined with the case, transforms into its bench-top equivalents. 

In the two years since launch the business sold over 50,000 units to professional tradesmen and DIY enthusiasts and Chris escaped the garage to business premises in Portishead. 

He said: “We have made great progress. The POWER8 is selling well and I’ve been able to develop and launch a number of other products, but I’m very ambitious to expand and grow. I am particularly pleased with the new products for the garden and for the home and I’m always looking to develop useful ‘things’ that have great design features and are well-made."

Peter Jones was clear: “The advice I gave to Chris in the Den still stands, he’s a top class designer who has done well to get to this stage, but would do better to get back into his garage to invent more products, and let me get on with selling them in the right places.” 

Chris said: “That is exactly what I wanted to hear. I know what I am good at and it is the Dragons’ contacts, expertise and experience as much as their investment that will really help us grow the business. It is an exciting time. We need to work through how they can help and then I am only too delighted to get back in the workshop.”

Published 02 September 2010