Last night’s episode of Dragons’ Den saw 22 year-old solo founder Edward Hollands secure £30,000 investment from ex-career banker entrepreneur Jenny Campbell for his lorry billboard business ‘DrivenMedia’.
The “highly investable” young entrepreneur discovered his innovative idea while staring at blank truck trailers in a traffic jam, also ‘broke the record for the fastest Dragons’ Den acceptance’.
Ed Hollands received the £30k investment from Campbell in return for 20% stake in his business. The deal has since been completed.
I Am New Gen Magazine catches up with the young entrepreneur to find out his plan for using the investment:
The Inspiration Behind DrivenMedia
The idea came whilst walking along the A38 in derby during morning rush hour, where I saw a row of trucks stuck at the light with around 300 cars behind. I said to myself, if I have a business that’s where I’d be advertising.
DrivenMedia offers an innovative yet simple advertising option using trucks, trailer and lorries already travelling the country or along a specific route as mobile billboards. Truck advertising is an extremely cost effective medium, compared to current marketing methods, reaching over 55,000 a day for less than 50p per thousand people.
On Winning The Investment And Future Plans
I’ve grown up watching the show and it’s a dream come true to even pitch, let alone get an investment. Jenny’s support has been phenomenal. She loved my enthusiasm and passion as she’s a keen supporter of young enterprises.
I asked for £30,000 for 10% and I walked away with all the money, and a 20% going to Dragon Jenny Campbell. Some of the investment has already been spent on launching our own fleet of branded lorries, guerrilla marketing campaign and a brand new website as well as numerous other projects.
One key thing to come is a few members of staff.
If your thinking of doing it, just apply. Feedback from the dragons is invaluable, whether you get investment or not.
Handling Life As A Solo Founder
It’s hard work managing a business on your own. You’ve got no other skill set to rely on as it’s just you versus the world. I overcome this by outsourcing the work I struggle with.
Pitching Tips For Budding Young Dragons’ Den Entrepreneurs