A Manitoba farmer entered the Dragons’ Den last week and walked out with $250,000 in cash.
Scott Sigvaldason of Arborg stood in front of the panel of business gurus on the popular CBC program and sold the idea that hulless oats are nutritious, delicious and a good investment.
He pitched the idea that cavena nuda, a hulless oat with 10 times the dietary fibre, more cholesterol fighting beta glucan and double the protein of rice, could be a healthy substitute for rice on restaurant menus.
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The presentation won over dragon Jim Treliving, who agreed to invest $250,000 for a 50 percent stake in Sigvaldason’s business, Wedge Farms Nutrition, which he co-owns with Dave Shott, Uli Gehrer and Harold Gehrer.
While most of the other dragons liked the product, a few were skeptical that professional chefs would choose to use naked oats instead of rice.
“There are giant marketing problems with solutions unknown,” said Kevin O’Leary, who has a reputation as a ruthless dragon.
Sigvaldason countered that chefs are already using cavena nuda and brought a chef onto the show with him to make the case for hulless oats.
Although he didn’t mention it on the show, Sigvaldason told the Winnipeg Free Press that nearly 50 restaurants and food service companies are already using cavena nuda in their recipes.
As well, Sigvaldason convinced eight Manitoba farmers this year to grow 2,800 acres of AC Gehl, the hulless oat variety that Wedge Farms is marketing as Rice of the Prairies.
Having Treliving on board is likely a good fit for Wedge Farms because the dragon is the owner of Boston Pizza and has 40 years of experience in the restaurant business.
Aside from the business opportunity, Treliving may also have been swayed by a Manitoba connection because he grew up in Virden.
