The concept of 'The Dragons' is based on the UK TV show 'Dragons Den'. Different countries have different versions called different things however the concept is that budding entrepreneurs ask for investment funds to take their ideas and turn them in to a reality.
The start-up funding provided by each participant school will be the fund that is used to provide each team with their 'investment fund' to get them started. The children will need to present to a panel of 'investors' who are in control of the 'fund'. This panel would typically be made up of senior school staff from each participating school although schools might like to invite local businesses to be involved.
There should be at least 3 'Dragons' on the panel.
The teams will need to be given the deadline of their 'Dragon's Den' pitch which they will need to work towards. In their pitch for the investment funding of £30, €40, $50 they will need to present their ideas, show their prototypes, talk about the outcomes of their market research and present their business plan of what it will cost to manufacture the products, what they will sell them for, how they will market the product and their expected profit margins.
Getting the teams to a position where they have done all of the work needed to go to the 'Dragons' to make their pitch, takes many weeks of work. These preparation stages are vital and are the weeks where the teaching of the business skills takes place. These early weeks before they receive their funding and can start trading are critical weeks and cannot be shortcut.
They need to create a PowerPoint presentation to use in their pitch to the 'Dragons' and this can include bullet points, graphs, photos and videos that they have taken and made.