Despite leaving Dragon?s Den with no investment, inventor is granted patents and gets backing from Paphitis.
Vernon Kerswell, one of the youngest contestants on the BBC series at 21 years old, walked away from the den this week (Wednesday September 2nd episode) with no cash investment, but following the show his patents have been confirmed and millionaire businessman Theo Paphitis has offered ideas and contacts to assist in moving his business forward.
Kerswell’s initiative and approach to business has already won him several prestigious business awards as well as TV and radio appearances.
Since filming, Kerswell’s firm, Extreme Fliers Toys has undergone rapid growth with confirmed orders worth over £100,000.
Prior to finishing his degree at Manchester Business School, the entrepreneur has taken on the full time role of managing director of his own business. The company now offers a range of flying toys, available in the UK and Europe.
Vernon asked for £75,000 in exchange for 15 per cent of his business and demonstrated his latest product, a transforming remote controlled car and helicopter in one, but the Dragons questioned whether Vernon would be successful in obtaining a patent.
Kerswell said: “The pitch was exciting; walking up the stairs sent a rush of adrenalin. It lasted around 45 minutes; the dragons enjoyed the products and were very encouraging. Theo gave me some good advice too.”
Extreme Fliers is now gearing up for the Christmas market with the Terror Wasp and Desert Apache Gunship in the top slots for Christmas must-have toys.
The firm has agreed to supply over 100 UK outlets and will be exhibiting their products at Autumn Fair, September 6-9th.
Kerswell concludes “Starting a business at a young age gives you a big advantage, it’s a steep learning curve but I proved it is possible without dragons’ backing and I want to inspire others to do the same.”