And finally…Dragons’ Den snub “still burns” for Brewdog founders

James Watt and Martin Dickie had been in business for just two years having started up out of the back of a van when they applied for the popular business investment show in 2009 looking for a £100,000 investment in exchange for 20 per cent of the firm.

The pair got through the initial application process and were selected for a screen test but producers decided they would not go on to meet the “Dragons”, who at the time included Duncan Bannatyne, Peter Jones, Theo Paphitis and Deborah Meaden.

Instead, Watt and Dickie conceived the pioneering Equity for Punks crowdfunding model now in its fifth iteration.

Recalling the Dragons’ Den rejection, Mr Watt said: “It was a huge kick in the teeth for us at the time and that stinging rejection still burns today.

“Looking back, despite how much of a setback it was at the time we are actually really happy we got turned down. It forced Martin and I to go back to the drawing board in terms of how to finance our business.

“As a result we created a model that lets the people who enjoy our beer own a part of our company. Equity for Punks would not have existed without the Dragons’ Den rejection.”

The 20 per cent stake Watt and Dickie had offered up to the Dragons is now worth £360 million.