A colourful, edible playdough being sold by an Ottawa company has earned a $500,000 investment from CBC's Dragons' Den.
Tim Kimber of Plasmart Inc. negotiated the investment in Yummy Dough in exchange for a 3.5 per cent cut of revenues, once the investment has been recouped, on Wednesday's episode of the show.
"For 50 years, kids have always been compelled to eat modelling dough," Kimber told CBC News. "And we figure, well, why fight it? Why not let them eat what they want to? So we made a product that's safe and edible. Kids can eat it and have fun too."
]Kimber and his business partner, Stefan Kaczmarek, will use the money to market the dough, which they expect to be available on shelves of local book and toy stores in December.
On Dragons' Den, entrepreneurs pitch their ideas at potential investors and negotiate investment deals with them.
Kimber's friends and family watched the talks unfold on TV from the Cornerstone Bar and Grill in Ottawa's Byward Market on Wednesday while munching on handmade Yummy Dough creations — dough in bright primary colours shaped into tiny hamburgers and hot dogs.
'It was completely stressful'
While Kimber's negotiations lasted only a few minutes on the screen, they actually took nearly an hour, he said.
"It was completely stressful, to go up in front of five seasoned business people, who've been pitched thousands of times," he recalled. "It was quite the thrill."
According to Kimber's company, Plasmart, Inc., Yummy Dough was originally created by two children in Germany. It comes as a baking mix that turns into playdough when water is added.
The dough can be either left out to dry or kneaded and baked like regular cookie dough.
Kimber's company, Plasmart Inc., started as a small online toy store in 2003. It now sells more than 150 products in more than 60 countries.