Startup ecosystems are blooming all over the world, and governments and investors are taking notice, even in underdeveloped nations. According to the Economic Survey 2021-22, India has the world’s third-largest startup ecosystem, after only the United States and China. In 2021-2022, the government recognized approximately 14,000 new businesses, bringing the overall number of recognized firms in the country to 61,400. In 2021, a record 44 businesses achieved unicorn status.
While these statistics create a positive picture of India as a startup nation, they also highlight the necessity of an environment that fosters innovation and ambition. Entrepreneurs and businesses flourish when they are upheld by an organization of similar individuals and associations focused on fostering innovation. These startup ecosystems may assist the startup sector sustain its exponential development and convert into a long-lasting value business by facilitating better access to resources, shared expertise, and funding.
How Shark Tank is impacting the startup culture in India
Startups are the contemporary youth preoccupation and path to freedom. The Indian startup business has gone a long way since the days of Flipkart and PayTM. Truth be told, India positions third on the planet regarding the quantity of startups. Today, we can witness an MBA graduate happy operating a tea stall or a retired lady effectively running her own food delivery service. The internet has played a significant part in making startups a passion rather than a risk for individuals, but the desire to achieve something large is what propels people to make that one decision that will alter their lives forever.
Though the internet and smart marketing have been solid avenues for learning about new firms, a reality TV program called Shark Tank has only made us more aware of the Indian startup industry. Shark Tank is a show that features a panel of judges who invest in fresh company ideas from aspiring entrepreneurs based on their potential. It is the show’s presentation season in India, albeit the Shark Tank franchise has recently delivered thirteen effective times of similar show in the US, providing an open door to a few entrepreneurs.
Shark Tank India
The Shark Tank Hindi variant of the American unscripted TV drama Shark Tank is called India. The program has grown in popularity in India due to its unique premise of companies competing for funding from a panel of “Sharks” (investors/judges). The program debuted on television on December 20, 2021, and the last episode of the principal season circulated on February 4, 2022.
Shark Tank is a one-of-a-kind show in which young entrepreneurs of all ages compete to showcase their company concept in front of selected investors (Sharks) and persuade them to invest in the idea based on its potential. These Sharks are industry leaders hunting for firms that can quadruple their capital. In the first season, the Sharks included Ashneer Grover (MD and Co-founder of BhartPe), Aman Gupta (Co-founder and Chief Marketing Officer of boAt), Anupam Mittal (Founder and CEO of Shaadi.com and People Group), Ghazal Alagh (Co-founder and Chief Mama of MamaEarth), Namita Thapar (Executive Director of Emcure Pharmaceuticals), Peyush Bansal (Co-founder and CEO of (CEO and co-founder of SUGAR Cosmetics).
Shark Tank India & the Indian Startup Ecosystem
This is the first time that Indian television has shown a show that appeals to all age groups, and it has motivated many aspiring entrepreneurs to go beyond 9-to-5 occupations. Shark Tank has provided a fantastic platform for folks who have always wanted to start their own business but have been reluctant to take that leap of faith. The show not only inspired many people, but it also opened the door to financial literacy and made them aware of several financial words such as capital investment, angel investors, series A (B, C, D, E) funding, and so on, which are only known to business experts.
We can plainly see that not long ago, individuals were opposed to founding firms that were outside of the norm. Most parents would advise their children to pursue engineering or medicine since these are the most secure professions. Shark Tank has had a huge influence on India’s middle-class people, which has traditionally been frightened of taking chances and prefers government positions over any enterprise any day. The show has served as a vehicle for informing Indian middle-class parents about existing thriving businesses and potential prospects in the industry.
Wrapping Up
Shark Tank had a huge influence on the Indian public, as the 35-episode series featured people ranging in age from teenagers to retirees pitching their company ideas in front of the Sharks and winning investments in the lakhs and crores. This is only the first successful season of Shark Tank, and there will be many more to follow, where we will see original ideas succeed and individuals normalize companies as a career. India is already creating CEOs for well-known corporations in the West; now is the time for India to develop CEOs for its own startups and build a reputation for itself throughout the world.
Shark Tank can help people gain confidence and become self-sufficient. The major takeaway from the event may be to look for opportunities in everything rather than waiting for them. Shark Tank is an instructional show that is a must-see for individuals who want to learn about business, startups, money, investment, and where the world is headed in terms of startups and investments.
