In the British television series Dragons' Den, what do entrepreneurs generally offer in exchange for investment?

In Dragons' Den, entrepreneurs generally offer equity in their business in exchange for investment.

Equity means an ownership share. During a pitch, an entrepreneur usually states how much money is wanted and what percentage of the company is being offered. The Dragons then judge the company's prospects, valuation, finances and the proposed ownership terms.

The negotiation can change the original proposal. A Dragon may offer the requested money for a larger share, make the offer jointly with another Dragon, or refuse to invest. A televised agreement is also commonly described as being subject to due diligence, so an on-screen deal is not necessarily the same as a completed investment.

This structure distinguishes Dragons' Den from a grant competition or a conventional loan programme. The investor normally seeks a potential financial return through ownership of part of the company, while the entrepreneur gains capital, advice and the Dragon's business network.