BrewDog CEO James Watt claims he came close to landing a spot on the Dragons’ Den panel

BrewDog CEO James Watt has claimed he came close to landing a spot on the Dragon’s Den panel – but was rejected for a second time after failing to win investment in 2008.

James Watt and Martin Dickie, both 40, launched their craft beer company in 2007 in Fraserburgh, Aberdeenshire in a remote shed on an industrial estate with just a dog to accompany them – hence the name BrewDog. 

A year later after setting up the business, the duo applied to BBC show Dragons’ Den, offering the celebrity investors a 20 per cent stake in return for a £100,000 investment but were brutally rejected.   

In a recent LinkedIn post James claimed that a couple of years ago The Dragon’s Den producers were looking for new Dragons and he said he found himself on ‘the final shortlist.’

He claimed he had ‘screen-tested’ alongside Deborah Meaden, adding: ‘Once more I fell short at the final hurdle, narrowly missing out on fulfilling one of my lifelong ambitions and becoming a Dragon.’

BrewDog CEO James Watt has claimed he came close to landing a spot on the Dragon’s Den panel – but was rejected for a second time after failing to win investment in 2008 

Sharing the post, he wrote: ‘Some of you may be familiar with the ill-fated story of BrewDog and Dragon’s Den.

‘In 2008 we applied to Dragon’s Den and got as far as the final screen test and we pitched our hearts out before the producers rejected us.

‘They deemed Martin & myself not investment worthy. We were totally crushed.’

He continued: ‘We were prepared to offer the Dragons 20 per cent of our business for £100,000. Based on our latest BrewDog valuation, that investment would now be worth over £300m meaning the Dragon’s missed out on by far the best deal in Den history.

‘We always look to find opportunity in adversity so spurred on by the rejection we came up with a brand-new plan to grow our business and involve our fans as investors.

‘In 2009 we launched Equity For Punks as we pioneered a whole new generation of business model and built a global community of over 220,000 amazing investors.

‘Our Dragon’s Den rejection turned out to be one of the best things that ever happened to us.’

However he also revealed: ‘Our Dragon’s Den story does not end quite there. A couple of years ago The Dragon’s Den producers were looking for new Dragons and I found myself on the final shortlist.

‘Once more I made it to a final screentest as I sat alongside Deborah Meadon as we assessed whether we would invest in a prospective business.’

He continued: ‘However, just as in 2008, I decided to use the rejection as a catalyst to try and create something better. 

‘Just as the 2008 rejection helped us a whole new business model, I have used the most recent rejection to come up with a brand-new concept when it comes to raising start-up finance.’

Cheers to that! James has revealed how he once again plans to use rejection to spur him on and extend his business ever further

Cheers to that! James has revealed how he once again plans to use rejection to spur him on and extend his business ever further

James shared a heartfelt message on his LinkedIn page as he assured his followers to use rejection to spur them on to bigger and better opportunities

James shared a heartfelt message on his LinkedIn page as he assured his followers to use rejection to spur them on to bigger and better opportunities

James and Martin were just 24 when they started the company, which was valued at £1.6 billion this year, according to Forbes.

And aside from brewing, they also run their own streaming service, The BrewDog Network – which features cooking series and travel guides.

The post already has over 12,000 likes and comments from people rushing to congratulate the pair and their future.

One person wrote underneath: ‘It just goes to show how fickle TV really is… Awesome to learn that the rejection received by Brewdog energised them to do greater things so perhaps the program worked well after all.’

‘I can’t wait to see the next exciting chapter in your journey James. Rejection is the innovator of change!,’ enthused another LinkedIn member.

While a third person penned: ‘Incredible can’t wait to hear more!’

‘Wow – how to turn lemons into lemonade… fair play to you James,’ applauded someone else.

His followers flooded the post with positive messages all saying they were excited to see what happened next with James and BrewDog

His followers flooded the post with positive messages all saying they were excited to see what happened next with James and BrewDog

James has been at the centre of a string of misconduct accusations in recent years after being accused of inappropriate behaviour towards women at work.

More than 15 ex-staff previously spoke out against Mr Watt with some claiming he made female bartenders feel ‘uncomfortable’ and ‘powerless’.

They were even advised by colleagues on how to avoid unwelcome attention from Mr Watt, 38, according to an investigation by BBC Scotland’s Disclosure programme.

Katelynn Ising, who worked at a BrewDog bar in Ohio, US, said female staff would dress down when they knew Mr Watt would be in their bars.

She said: ‘We would make a point to warn new girls… like, ‘Hey, just so you know, James Watt’s coming to town. Just kind of, like, leave after your shift, don’t really hang around [and] don’t always do your hair and make-up that day, like don’t catch his attention’.’

Other former staff claim Mr Watt was witnessed by staff kissing an intoxicated customer on a roof terrace at another US bar.

Mr Watt has said the allegations are false and denies behaving inappropriately.

Watts’ disgruntled former employees shared a scathing open letter slamming the company for its ‘toxic attitudes’ and accusing it of fostering a ‘culture of fear’ among staff.

James and his business partner Martin Dickie were able to offer the Dragons a £100,000 stake in the company, something that would cost the tycoons over £300 million

James and his business partner Martin Dickie were able to offer the Dragons a £100,000 stake in the company, something that would cost the tycoons over £300 million 

The billion-pound business has grown from a small shed to hundreds of sites around the world and it just keeps getting bigger and bigger

The billion-pound business has grown from a small shed to hundreds of sites around the world and it just keeps getting bigger and bigger

Speaking with Steven Bartlett on the Diary of a CEO podcast about his leadership at the company, he admitted to previously pushing people ‘too far’ because of his ‘high standards.

But the CEO – whose company has been accused of having a ‘rotten culture’ – said that his actions were done with ‘100 per cent good intentions.’

Mr Watt revealed: ‘It’s completely fair to say at times in the journey I have been too intense.

‘I have been too demanding, that I have set standards for the team which I would set for myself, and for a lot of the team members that is unattainable.

‘I just pushed for such high standards, unrealistic deadlines, it’s because I was so focused on ‘let’s build the thing, let’s create more jobs, let’s deliver more value for our customers.’

‘The intention was 100 per cent good and because I was so bought in and so focused on that, I did push people too far.’

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