Five Dragons were on the original UK panel when Dragon's Den launched.
The first British panel consisted of Duncan Bannatyne, Doug Richard, Rachel Elnaugh, Peter Jones and Theo Paphitis. Together, they formed the group of investors who questioned entrepreneurs in the programme's first series in 2005.
The panel's members brought different business backgrounds and personalities to the negotiations. That contrast was central to the show's appeal: a contestant had to explain a valuation and business plan to several investors who might disagree about risk, market potential or the amount of equity requested.
The number five describes the launch panel, not a permanent rule for every later episode. Dragon's Den has used changing line-ups as investors departed and new Dragons joined. The original five are also distinct from guest or substitute Dragons who have appeared in later series.