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Daily Mirror
Daily Mirror
Entertainment
Katherine Heslop

'Ridiculous' Dragons' Den idea is one of most successful rejects ever and office staple

A product branded "ridiculous" on Dragons' Den is now sold across the world and arguably one of the most successful seen on the show.

The Magic Whiteboard, a roll of A1 whiteboard sheets that stick on anything due to static, was pitched by married couple Neil and Laura Westwood in 2008.

The pair were seeking an investment for £100,000 for a 15 percent equity stake in their company, as reported by the Daily Express.

Dragons Theo Paphitis and Deborah Meaden offered a £50,000 investment each, while fellow judge Peter Jones said their idea was "ridiculous".

The Midlands couple set up the company in 2006, with Neil telling BusinessLive in 2013: “I knew I wanted to start my own business. One day, when I was carrying yet another heavy flip chart to a meeting it suddenly dawned on me there must be a way of making it lighter.”

Soon after their appearance on the BBC show, the product was stocked in 230 Ryman stores.

According to the company's website, in September 2014 they purchased back the shares from Theo and Deborah and by 2017 were exporting to over 20 countries.

By 2016 one million products had been sold and more products have been launched in the last few years.

Examples of their new ideas include the Children's Tabletop Magnetic Whiteboard, the Magic Blackout Blind and 100% Tree Free Notebooks, made from recycled stone, which won Best Eco Product Winner at London Stationary Show, their website says.

During the episode, the pair had hoped to sell 15 percent of their business for a £100,000 investment from the Dragons.

Dragon Peter Jones was not impressed, and asked the pair: "Why would I ever use this?"

Theo Paphitis and Deborah Meaden invested in the portable whiteboard (BBC)

Neil replied that if you're a trainer or completing group work you would, to which Peter replied: "Well I have a whiteboard, it just feels ridiculous."

The other judges approved however, with James Caan, Duncan Bannatyne, Theo and Deborah offering to invest.

In the end a deal was negotiated which saw Theo and Deborah each giving £50,000 for a 20 percent share in the business.

The portable whiteboard is now stocked in all major office supply stores and used in schools across the country.

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