In today’s modern time and era, India has reached that stage of time where ‘Entrepreneurship’ is no longer looked upon as a dirty word for a society deeply wired in socialist programming. But what is the reason that led to such change? Well, education does play an important role in this process. However, the entertainment industry is no less responsible for giving a boost to the start-up culture fuelled by the right policies in India.
One cannot deny the fact that the show ‘Shark Tank India’ has become the talk of the town in no time since the premiere of its pilot episode. With that said, this article has been authored in order to provide a better understanding of what ‘Shark Tank India’ means for Indian Entrepreneurs.
In 2021, Sony Entertainment Television bought rights of the Emmy-winning ABC series ‘Shark Tank’ with the intention of starting its own Indian version which is today known as ‘Shark Tank India’. The show first aired on December 16 and follows a schedule of premiering new episodes on all weekdays from 9-10 PM on Sony TV. The show has managed to hit the right notes within the aspirational, hard-working masses for its unique concept – potential start-up firms get the opportunity to pitch in their business ideas to raise funds in front of a panel of angel investors or ‘Sharks’.
Several reports suggest that the Sharks who have committed to invest a total of as much as Rs. 41.68 crore to 67 qualified budding ventures happen to be some of the biggest names in the business realm today. The shiver of sharks includes – Aman Gupta (co-founder of boAt), Ashneer Grover (MD and co-founder of BharatPe), Ghazal Alagh (co-founder of Mamaearth), Vineeta Singh (CEO & Co-founder of SUGAR Cosmetics), Anupam Mittal (founder of Shaadi.com), Namita Thapar (Executive Director of Emcure Pharmaceuticals) and Peyush Bansal (Co-founder and CEO of Lenskart).
‘Shark Tank India’ encourages people to envision their goals and have a stake in India’s future. What is exceptionally fascinating to see are the inspiring stories coming from all across the country from individuals who are determined to build their identity through entrepreneurial zeal. Excelling in negotiating and business communication skills, plenty of business endeavours ranging from gadget start-ups to businesses in the sphere of the food industry have closed amazing deals from the Sharks. An instance of the same comes from an Ice Pops brand hailing from Hyderabad named ‘Skippi Pops’. It elevated its game by receiving the highest investment of ₹1 crore in exchange for 15% Equity with all five sharks on board.
Many agree that the USP of the show lies in bringing forward the capability of hidden revolutions in India which is embedded when a growing business like Annie – a braille learning device is acknowledged. Such talents are coming to the forefront from all across the country through this business-oriented reality show. It is absolutely true that through this show, lakhs of potential entrepreneurs are getting inspiration. As a result, the interest of self-employment or business tends to escalate among the youth of the country.
The proposition of the show is carved in such a manner that it compels the audience to notice how deals are struck, how ideas are executed into businesses, how and why network building is so important and the innovative solutions that start-ups utilize in order to solve problems that hinder the development of the society. Here, the main intention is not to unfold success stories ahead of the viewers, instead, showcases the humble journey of a promising business of the foreseen future to crystallize. Along these lines, it enables small-scale businesses as well as those speared headed by women to broaden their scope significantly with the help of capital.
In an interview, Shark Anupam Mittal issued a statement saying that 2020-2030 is an ‘entrepreneurial decade’. Correspondingly, it was in 2021 when India stacked up a total number of 33 new companies to its list of Unicorns (companies valued at over $1 billion or more). This implies that a new generation of ‘wealth-creators’ is in the making and that the Indian start-up panorama has abundant room for opportunities and potential. Shows like ‘Shark Tank India’ serve as a demonstration of the rise to this Start-up culture. One must have the courage to follow their dreams. Only then can they establish a better future for a better India.
Written by – Miloni Chheda
Edited by – Heeral Datwani