Researching the Researcher!
The sixth entrepreneur had the most interesting idea in this episode, but had the most bizarre and ridiculous motive for being in the den. He presented the idea for his product EIPMS- Electronic Intelligent Power Management System, and the dragons seemed impressed, but when he was prodded to present the prototype, he revealed to the dragons that the idea was a research-in-progress…no, a research-yet-to-begin. He had come to the den to get money off the dragons to research this idea, and afterwards look for other investors who will invest in the product after the research had been done.
Chris Parkes quoted him, “to begin a scientific research a without reliable capital base may be likened to attempting space travel on foot…” and after that quote, Chris Parkes summarized, “Investing in your idea may take more time than it took to get a man to the moon before an investor can make a profit…”
That said…he lost all the dragons. But he received very good advice: he was encouraged to seek organizations that give out research grants and not business men and women who were looking to make an investment to make a profit.


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August 24th, 2008 at 3:34 pm
There are no companies or organisations that give such grants Nigerians should tell big organizations to have Research and development department (R & D)