Local entrepreneurs put ideas to the test in hopes to enter Dragon’s Den

Veteran boat builder Paul Bouvier says he`ll rip out the dragons’ hearts if his invention takes him to Toronto and into their den.

The 65-year-old inventor along with about 20 other potential candidates lined up inside the Prince Arthur Hotel on Saturday. Bouvier and the other candidates hoped to impress the two CBC producers and take their inventions or business ideas to the Dragons’ Den in Toronto for its sixth season.

Bouvier was the first one to go in front of the two producers. He showed them his invention called the joggle stick. The stick, which resembles a yard stick but with wave-like notches cut out of it, acts as a way to measure curves while building a boat.

There are many ways that boat builders measure curves but he combined a few techniques to make it easier since it doesn’t require additional measurements or any complicated math, he said.

Although nervous, he said his presentation went well and felt certain he would be facing the dragons’.

"I`ll rip their hearts out," Bouvier said. "It’s show and tell right? I didn’t think I would be nervous but I was. I think I got about a 75 per cent chance that I will make it."

Lee Stevens, 17, a Grade 12 student at St. Ignatius High School pitched his business plan about an Internet franchise aimed at youth. Lee, who wants to enrol in Lakehead University’s business program, kept the details about his idea close to the his chest but looked forward to meeting the dragons’ and getting some advice, he said.

"It went well," Lee said after the audition. "I was nervous. They liked the idea and they even talked about a youth show that they’re thinking of running. They told me it would take about two or three weeks if I would be on (the show) or not."

If he doesn’t make it, at least he will see the audition as a learning experience, he said.

Lindsey Neely, associate producer with Dragons’ Den, said the show receives more than 3,000 applications across the country but only 300 are chosen to meet the dragons’. The producers came to Thunder Bay last year and about 20 participants submitted their applications.

Neely said the auditions aren’t like American Idol and only a select few who have an idea or a developed business plan usually show up.

"There are a lot of things that we’re looking for from the entrepreneurs," Neely said. "We have pretty high standards. We’re looking for someone who enthusiastic. If you don’t care about your business, we’re not going to care about it and certainly the dragons’ aren’t going to.

"We’re also looking for someone whose really invest some time and some money and has a good working prototype," she said. "The dragons’ are pretty tough and they are looking for something to really sink their teeth into."

While travelling across the country, Neely said the most common mistakes people have is that they lack passion about their idea, don’t have a clear business plan and try to reassure that their idea has no risks involved.

But Neely always reminds those entrepreneurs that in business, there is always a risk.

Auditions started at 11 a.m. and will conclude at 5 p.m. No prior experience is necessary.