'The most intense experience of my life!' - Mid Wales entrepreneur accepts £100k offer during Dragons' Den appearance

Montgomeryshire resident Elliott Tanner, who owns bike storage system company Stashed Products, says he could 'barely remember his own name' when he walked through the doors of the studio - but was still successful in securing an offer of £100,000 from the notoriously hard to impress 'dragons'.

Elliott had targetted retail icon Touker Suleyman before going into the show seeking investment for his innovative bike storage rack system, known as the SpaceRail. He told the dragons the firm had over 4,000 orders for the system, and was expecting revenues of over £10 million over the next five years.

And after a tense pitch where several of the 'dragons' expressed an interest in investing in the company, he accepted an offer of £100,000 from Mr Souleyman in return for seven percent of the firm.

“Stepping into the Den was one of the most intense experiences of my life," said Elliott. 

"My mind went blank just as I stepped through the lift doors, and I could barely remember my own name. When I got into my stride though, I started to really enjoy the whole experience.

“In under three years, we have developed SpaceRail - market-leading bike storage systems and a range of accessories. We have expanded our factory in Wales and our products are used to create dream bike spaces all over the world. SpaceRail is stylish, innovative and robust and can be found in industry settings from busy workshops to recognised bike brands.”

Elliott's company Stashed Products had previously been successful in securing £25,000 from Powys County Council towards the cost of making improvements at its base in Abermule and for staff training, with the aim of creating three full-time jobs in 2024. 

It put the £25,000 it received towards installing mezzanine flooring, workstations, and a marketing and retail suite and for stacking and picking equipment.

Councillor David Selby, Powys County Council’s Cabinet Member for a More Prosperous Powys has been impressed by the success achieved by Stashed Products in such a short time.

He said: “It is pleasing to see that a Powys business that has been supported by the council with a growth grant and by Welsh Government with research, development and innovation funding has gone on to be backed by highly respected investors.”