Which original Dragon founded the technology company Red Letter Days?

Rachel Elnaugh founded the experience-gift company Red Letter Days.

Elnaugh established Red Letter Days, a business selling experience gifts such as activities and leisure experiences. The company became one of the best-known businesses connected with the early British Dragons' Den era and helped make Elnaugh a recognizable entrepreneur before and during her time on the panel.

She was one of the original Dragons when the British series launched. Her business later experienced serious financial difficulties and entered administration in 2005; rival entrepreneur Peter Jones subsequently acquired the brand and assets.

This history creates a common source of confusion: Elnaugh founded the original business, but ownership later changed. The founder answer therefore refers to who created Red Letter Days, not who later bought or operated the brand after its financial collapse.