After the show finished I agreed to be Giles' business mentor and guide him out of his current situation
London, UK (PRWEB) April 10, 2009
Dragon's Den star and renowned businessman Shaf Rasul has come to aid of a failed contestant on the online version of the hit BBC show and is now on course to create the show's first millionaire contestant.
Giles Bury, inventor of the portable football post product Qwikgoal.com, originally approached the show's Dragons seeking £50,000 for a 20% share of his business but was quickly left to face the prospect of insolvency when the entire Dragon's Den judging panel only offered the infamous 'I'm Out' verdict. Left with a failing business and no investment, there was only one option left open to Giles and Qwikgoal.com - bankruptcy.
However, this was not the end of either Giles or his product Qwikgoal.com because, once the cameras had stopped rolling, IT and Property entrepreneur Shaf Rasul was quick to offer a helping hand.
"After the show finished I agreed to be Giles' business mentor and guide him out of his current situation," Shaf commented. "(He) potentially had a great product but everything else in the business was wrong. The business had no route to market, eight years of inventory and was racking up costs left, right and centre. In his current state, Giles would have been calling the administrators within days. Giving Giles a wad of cash and leaving him to his own devices would still have resulted in the business going bankrupt."
Turning inventory into cash was key for Giles therefore the first step was finding a suitable outlet for his Qwikgoal product. Shaf introduced Giles to leading e-retailer Ebuyer.com and the ball was rolling on his new business goal.
"(Shaf) introduced me to a number of high profile retailers who all wanted to stock my product. In the end I decided to opt for Ebuyer because they were so passionate about the product," explains Giles.
"To say I am delighted is a huge understatement. Ebuyer are also now negotiating a licensing deal for a new product I am also developing that will sit as part of the Qwikgoal range. Once concluded, my company will immediately be valued at over £1million, making me the first Dragon's Den millionaire. I was so grateful to Shaf that I offered to pay him but he refused to accept a single penny. He simply smiled at me and said 'It's all about doing the deal!"