2 Social Innovation Pitches Which Landed Successful Investments From All 5 Dragons
After watching a number of episodes of Dragons’ Den from the United Kingdom, I want to point out two particular social innovation pitches that stood out and succeeded. They were brilliant because all the Dragon investors wanted to invest in them and they did.
1) Midomo, formerly ROSS (Reverse Osmosis Sanitation System)
This device is amazing. It helps purify water for people in developing countries and for humanitarian situations. During the Dragons’ Den episode, the two young entrepreneurs called it ROSS, which stood for the Reverse Osmosis Sanitation System. Interestingly, all the Dragon investors supported this invention and all of them put money into it.
Now, it’s called Midomo and it’s under the company entitled Red Button Design – a very cool social innovation and design company.
“Midomo, is a household?level water transport, purification and storage solution to be purchased by humanitarian organisations and deployed for use by individuals throughout the developing world.”
I was looking to see if Red Button Design had any other products on offer, but unfortunately they don’t. Either way, the Midomo is fantastic, and the overall company has a great mission.
“Red Button Design Ltd is an internationally award winning, for?profit, social enterprise. We established in 2007 in order to design, manufacture and supply products exclusively for the humanitarian market.”
2) The Standby Saver
Another great invention is the Standby Saver. Similarly, all Dragon investors placed money into this. The invention solves the problem of wasted electricity caused by standby electronic devices, particularly television sets.
The Standby Saver:
- Cuts 100% of standby power, and reduces CO2
- Detects when you switch your TV off with the remote control, and cuts all power
- Works with Computers via USB or with TV’s via remote control
- 6 Sockets – 4 in standby saver mode, and 2 switchable sockets
- Endorsed and tested by British Gas*, and fully certified by British Standards
- Reduce your electricity bill by upto £43 per unit
- Saves around £43 of wasted electricity per year
Successful Social Innovation!
You can learn something from these two innovative inventions and the pitches put forward by the entrepreneurs who put them forward. Both of them solve problems that affect a large number of people. They provide value while trying to make the world a better place.
In addition, the Dragon investors saw the potential of these devices in terms of scalability, profitability and social and environmental impact!