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Warren delivers an unusual pitch as it includes an acoustic version of his 2010 World Cup song, Believe.

Julie Meyer immediately likes the song but wants to establish Warren's track record. He admits he has been successful in competitions but has never troubled the record charts. The Dragon wants to know if he would be keen to tour as it is in live performance that the money now lies and Warren, a long time busker, reassures her it is his lifeblood.

Shaf Rasul wants to know if is investing in a business or a song and when Warren beguiling replies "in me" the Dragon shifts tack invites the singer to weigh up the likely competition for a World Cup song in 2010. Warren concedes there may be up to 10 other songs around and Shaf Rasul remains unconvinced that given the big name performers who may be involved that Warren's song will punch through - as he points out this is real David v Goliath stuff.

Given such a high risk proposition, Shaf Rasul challenges Warren as to how much he would contribute to the venture and both Dragons are amazed when the singer-songwriter promises he would match funding - if one of the Dragons put up £25,000, he would too.

Julie Meyer immediately wants to do a deal - but with conditions. She wants Warren to match funding, to have access to all his potential revenue streams, including live performance, and above all to have a controlling 51% stake in his company.

Shaf Rasul admits Warren is a very high risk investment and because he would want more than 51% if he were to invest, he declares himself out.

Warren attempts to negotiate Julie Meyer down but because of his lack of a track record she holds her ground and Warren, with little hesitation, agrees to the deal.

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