The first episode of the British television programme Dragon's Den was broadcast in 2005.
The BBC launched the programme on BBC Two as the British version of an international business-pitching format. Entrepreneurs present their companies or product ideas to a panel of wealthy investors, known as Dragons, and seek investment in exchange for equity.
The programme became a long-running part of British factual entertainment. Its format combines business negotiation with personal stories, so a pitch may end with an offer, a counteroffer, or no investment at all. The first series established the core structure still associated with the show: a pitch delivered without a conventional studio audience, followed by detailed questioning about sales, margins, valuation and ownership.
Dragon's Den is sometimes confused with the later BBC programme Dragons' Den: Pitches to Riches, but 2005 refers to the main British series. The programme also differs from Shark Tank, the American adaptation of the same broad international format.