Simple things are worth more than something which sounds extraordinary but is not efficient enough to use it. The most profitable ideas are frequently the easiest to implement. This appeared to be the case with the Syncbox creators. Previously it was launched at Dragon’s Den, one of the popular TV shows.
Even though one of the investors of Dragons’ Den referred to it as “just a box,” it produced a far more engaging tale that increased the investor’s net worth to over £1 million which was least expected by the Dragons.
If you want to know the truth behind simplicity, this is the best article you can witness.
Quick Facts
| Founders name: | Steve Noyes Duncan Summers |
| Business details: | Recessed and covered power and AV outlet |
| Founded in: | 2015 |
| Location : | UK |
| Asking of Company: | £55,000 For 20% Equity |
| Accepted Deals: | £55,000 For 35% Equity |
| Dragon on board (Investors): | Deborah Meaden |
| Dragon’s Den Episode: | Season 13 Episode 03 |
| Net Worth | £85,000 |
| Business Status: | Active |
| Last Updated: | Feb 22, 2024 |
| Social Media |
About the Founder
Steve Noyes is the founder of the company and Duncan Summers is, a co-founder. The two partners who were already involved in the audio-visual installation sector, created Syncbox. While installing customers’ equipment, such as flat-screen TVs, they saw the necessity of making cabling neater and getting it out of the way.
They discovered there isn’t a workable solution available. To be sure that they were creating an original product, they swiftly located a patent attorney after drafting out their concept on the back of an envelope. Finally, launched the company – Syncbox in 2015
Founding Syncbox
Syncbox is the first company in the world to offer a universally adjustable, invisible wiring solution. The developer created a hidden socket that combines power and audiovisual connections into one device. The company offers hidden connection systems for sale. The idea behind Syncbox is to make wiring in homes and other structures simpler, particularly for entertainment.
The fundamental idea is a recessed box placed inside the wall into which all necessary wires are plugged, including power cables, HDMI cables, audio and video cables, and a variety of others. There is very little protruding out past the surface of the wall because it is recessed and has a cover plate, which has aesthetic value.
On Dragon’s Den
Starting a new business is hard and requires liquid resources. They needed assistance to flourish. After being persuaded by friends they choose to enter the Dragons’ Den, and had two days to prepare their pitch. They aimed to receive £55 000 in exchange for a 20% investment in the company.
Three of the dragons were not impressed by their concept and remarked as an overdesigned box. Deborah Meaden and Sarah Willingham, however, recognized its worth. According to Deborah’s website, the need for such a solution was made clear to her by her renovations.
After Dragon’s Den
All three parties benefitted from the choice. According to startups.co.uk, the company sold 3000 units annually as of 2018, and Syncbox was ranked 27 on the list of the Top 100 Startups in the UK. According to Professional Electrician, it also evolved into a standard component in some developments for companies like Crown Plaza Hotels.
This tiny box changed people’s lives. Duncan and Steve were successful with their idea of a simple yet helpful device – Syncbox.