Organisers Celia Norowzian and Ian Forshew of Beach Break Live turned down a £50,000 investment from entrepreneur Peter Jones on BBC's Dragons' Den programme.
Instead, Beach Break Live went ahead in partnership with Outgoing Ltd - a student event and travel specialist.
Since the organisers were filmed on Dragons Den, the Spring Break festival - which targets students - has gone on to receive a nomination for Best New Festival at the UK Festival Awards.