Sharon Wright, flanked by Duncan Bannatyne (left) and James Caan.
Schneider backs a Dragons' Den success
Published: 10 August, 2009
LONDON: A product sold by Schneider Electric as part of an exclusive distribution deal, has been given an extra boost following a successful pitch on the hit BBC2 show, Dragons' Den.
Sharon Wright, inventor of the magnetic cable guide MagnaMole, was offered financial support from Dragons' Den entrepreneurs Duncan Bannatyne and James Caan following a winning presentation in the den.
Millions of viewers watched on Wednesday 22 July as four of the five dragons competed for the chance to be part of MagnaMole's promising future.
The product was developed to help contractors save time and money by guiding cables through cavity walls and void spaces, ensuring a quick and safe retrieval of cables as well as reducing the risk of electrical shocks.
Schneider Electric, a specialist in energy management, has already been distributing the MagnaMole as part of its Tower range.
Not only does the tool reduce the risk of unnecessary damage to property or other cables in wall cavities, it also reduces the risk of injury to the user when compared to makeshift devices, including a bent wire coat hanger.
Marc Gaunt, residential product manager of Schneider Electric, said: "I first met Sharon at an exhibition and immediately saw the benefits of MagnaMole. The product is such a simple idea, yet it offers a quicker, safer solution for electrical contractors and has been a hit with our customers."
Ms Wright added: "Securing funding from Duncan and James has allowed me to employ staff, freeing up some of my time to work on other projects. The backing of Schneider Electric really supported me in breaking into the contractor market and gave me the confidence I needed to take the product into the den."