In the UK version of Dragons' Den, an entrepreneur’s initial pitch is usually limited to three minutes.
That short opening forces contestants to explain their product or service, business model and investment request quickly. After the prepared pitch, the Dragons ask questions about sales, costs, margins, valuation, intellectual property and the entrepreneur’s plans for growth. The questioning can last much longer than the opening presentation and often determines whether an offer is made.
The televised sequence is edited, and the complete filming process can involve much more discussion than viewers see. Nevertheless, the three-minute pitch is the familiar formal limit that gives the format its pressure and recognisable rhythm.
A short pitch is not the same as a short negotiation. Entrepreneurs may spend considerable time defending their figures and bargaining over the percentage of their company offered to an investor.