Local technology firm Impakt Protective Inc. entered CBC’s Dragons’ Den in an episode aired Nov. 28, and negotiated their way to a deal worth $350,000 for a 10 per cent stake in the company.
© Photo supplied
Shockbox, ImpaktProtective's helmet sensor technology that measures the G-force of a hit to the head.
But the deal, taped in April, didn’t pass due diligence – which is just fine with CEO Danny Crossman, a 2012 OBJ and Ottawa Chamber of Commerce Forty Under 40 recipient.
“The whole point of going on the show was the exposure,” he said.
That exposure led to 7,000 hits on the company’s website two days after the episode aired, and more e-mails than Mr. Crossman can keep up with.
The company develops a product called ShockBox, a miniature helmet impact sensor for hockey and other contact sports. ShockBox sends an immediate wireless alert to a smartphone when the player has experienced a head impact.
“They all liked it,” Mr. Crossman said of the show’s panel of investors. “You can see it in their faces.”
The one-take taping was really no different than pitching to regular venture capitalists, Mr. Crossman said, except that it takes longer and is for television.
Mr. Crossman is no stranger to pitching to investors. In fact, Impakt Protective raised more than $1 million from Ottawa technology investors in 2012 alone, and that had nothing to do with its appearance on Dragons’ Den.
Next up for the company is growing the business and continuing to expand its current reach by working with larger organizations and manufacturers.
Impakt Protective was founded in October 2011 with headquarters in Kanata.