‘Shark Tank India’ is a show where the big dreams of budding Indian entrepreneurs meet the big minds of multi-millionaire Indian investors.
In essence, how Shark Tank India works is by creating a platform to collaborate to create a ‘new start-up culture in India.’
“Tough times never last; tough people always do.”
-Robert Herjavec, Canadian businessman and Shark on Shark Tank, USA
So, what is Shark Tank?
Shark Tank is a popular reality show in which investors or Sharks as they are called! will fund the business owners, after listening to their pitch.
The Sharks demand a stake in the business, which is usually a percentage of ownership and a share of the profits, in exchange for their money.
Are you ready to Swim with the Sharks? Let’s explore the Shark Tank India Concept
Shark Tank India is a business reality television show in India that airs on SET India.
The show is an Indian adaptation of the popular American show Shark Tank.
Shark Tank India concept is a show that depicts entrepreneurs giving business presentations to a panel of five investors or sharks who decide whether or not to invest in their company.
Studio NEXT produces The Shark Tank India, which is aired on Sony Entertainment Television Channel..
So what Shark Tank India is all about is that it is a platform where aspiring startup entrepreneurs have the opportunity to pitch their ideas for funding before a panel of angel investors or ‘Sharks.’
Panel of Sharks? Are you kidding?
Before we get to the nuances of how Shark Tank India works it is very important to understand who these Sharks are, so that you can prepare yourself well, and be confident of how to enter the Shark Tank India show.
These Sharks have committed a total of Rs. 41.68 crore to 67 eligible start-ups, and are among the most well-known names and self-made millionaires in the business world today.
Let us now try to understand how Shark Tank India works.
It is best to understand the process of how Shark Tank India works in three phases:
- Phase 1 Before entering the Shark Tank – registering for the Show
- Phase 2 During the stay in Shark Tank – interaction with the Sharks
- Phase 3 Moving out of the Shark Tank – Post interaction outcome
1. Phase 1 – Before entering the Shark Tank or Registration for the Show
To participate, the aspiring entrepreneur must first complete the registration for Shark Tank India Show.
The registration process includes these steps:
- The first and most important step is to download the SonyLiv app or go to www.sonyliv.com.
- Look for the Shark Tank registration banner and click on it.
- To verify your OTP, you must enter your mobile number.
- Fill-up and complete all of the information on the form regarding your participation in the show.
- Enter all of your company’s information.
- The mandatory fields must be filled out correctly with relevant information.
- Submit your registration form.
2. Phase 2 During the stay in Shark Tank – interaction with the Sharks
A true test of willpower happens when you enter the Shark Tank India arena.
- The chosen applicants will pitch their business idea before the sharks
- Budding entrepreneurs with interesting business ideas, business prototypes, or even existing business ventures present their ideas
- The applicants will request for the investment they seek from the Sharks and also state how much of stakes or profit they are willing to give the Sharks, in their business
- The Sharks will grill them with questions to assess the risk of their investment
- Questions usually revolve around the story behind the business, the passion and knowledge of the business owner, potential market share, competitor analysis, profitability of the business and so on
- If the pitchers impress the sharks, the sharks will either accept the request made by the entrepreneurs or make their own offer
- At times, 2 or more Sharks can combinedly invest in a venture with their respective stake share.
- When the Sharks offer is agreeable by the applicants, then the deal comes through and the Sharks release a symbolic cheque in favour of the applicants’ company.
- However, if the Sharks don’t see the business idea promising, they categorically reject the idea with a “I am out” statement.
Shark Tank India concept works best when, the ‘pitchers’ impress the ‘Sharks,’ they have the opportunity to get a life-changing deal from the ‘Sharks’.
Sharks will also mentor and support the businesses of those pitchers whose ideas are the best.
3. Phase 3 Moving out of the Shark Tank – Post interaction outcome
Bravo!! The applicants who entered Shark Tank India and made impressive pitches, will walk away with a done deal with the Sharks and bag the right investment for their future projects.
Those who could not bag the offer, move out of the Shark Tank with many intriguing questions and an introspective mindset. Though they could not grab the offer, they walk out of the room as an enlightened businessman.
Contestant Success Stories
What Shark Tank India is all about is to give wings to the dreams of budding entrepreneurs with their innovative ventures.
A glimpse at the success stories of the Shark Tank Contestants can give us many insights into their entrepreneurial journey.
- Peeschute, a company dedicated to improving toilet hygiene, manufactures affordable unisex disposable urine Bags. Siddhant Tawarawala, the founder from Jalna, Maharashtra, has grabbed a deal with Aman Gupta for 75 lakhs in exchange for a 6 percent equity stake.
- Skippi Pops, a Hyderabad based Ice Pops brand, raised the most money (1 crore) for 15% equity with all five sharks investing. This also emphasizes the importance of collaboration in the business world.
- Ventures such as Annie which is a braille learning device speak about the business ower’s passion to give back to society.
How Shark Tank India works is by showcasing innovative and futuristic business ideas by budding entrepreneurs who wish to make it big with their venture.
For the viewers of the show, the Shark Tank India concept will be an educational and entertaining experience.
The episodes will be a compelling crash course in entrepreneurship, as you will learn about the inner workings of investing, pitching, and even product development through the pitches and feedback from the Sharks.
What Shark Tank is all about is the fact that Sharks will bring their distinct perspectives into the room based on their respective areas of expertise.
Also, some lively debates are seen about closing a deal. Viewers will see what happens behind closed doors where big business deals are made.
The Sonyliv Shark Tank India show enables the audience to see the way deals are struck, how ideas are commercialized, networking and community building, and the inventive solutions startups churn to solve societal problems.
The viewer is educated on the journey of the prospective businesses that are taking shape in the entrepreneurial ecosystem.
Are You Geared Up To Swim With The Sharks???