An entrepreneur's initial pitch on the British television show Dragons' Den lasts three minutes.
That opening presentation is designed to give the dragons a concise overview of the business. Contestants generally explain what their product or service does, how much money they want, and what percentage of the company they are prepared to offer.
The short time limit is only the beginning of the appearance. After the pitch, the dragons question the entrepreneur about sales, costs, valuation, competition and future plans. The questioning can last far longer than the formal presentation and often determines whether an offer is made.
The three-minute rule is sometimes confused with the total length of a televised pitch. The finished broadcast may include an edited conversation lasting considerably longer. The rule applies to the entrepreneur's initial presentation, not to the entire negotiation shown in the episode.