Creating a Show Like Shark Tank in India: Success Factors and Considerations

Many aspiring entrepreneurs and talent producers in India have wondered how to start a show similar to Shark Tank, given the proven success of such formats in other parts of the world. However, it's important to consider the specific context and factors that could influence the success of such a show in India.

Historical Context and Previous Attempts

Several years ago, Zee Entertainment Enterprises (ZEE) launched a show called 'Business Baazigar', which was designed to emulate the Shark Tank format. Unfortunately, it did not receive the same level of success, and it seemed the show placed more emphasis on contestants' emotional stories and backgrounds than on their business ideas. This approach turned out to be a critical misstep, as it failed to capture the interest of a broader audience and failed to highlight the most critical aspect - the business ideas and their viability.

Successful Sharks in India

One of the reasons why shows like Shark Tank succeed is their focus on new, innovative ideas presented by ordinary people. In India, many startups struggle to secure funding due to the lack of robust venture capital and angel investor networks. Unlike other countries, these startups often lack the natural audience to draw from for funding. Therefore, a local show based on the Shark Tank concept could indeed be valuable, as it would provide a platform for funding start-ups with promising ideas.

Current Attempts and The Vault

A recent development in India is the launch of a show called 'The Vault', which is set to air in October 2016 and is produced by ETNow and TIMESNow of the Times Group. The show aims to bridge the gap by providing a structured platform for start-ups to present their ideas and attract potential investors. However, while 'The Vault' seems to have a well-thought-out structure, it is not a direct remake of Shark Tank. Rather, it is an innovative format with slight adjustments for the Indian context.

The decision by the producers to invite applications and select start-ups over televising the entire journey from start to finish is a strategic and cost-effective approach. Each episode would not have high production costs, and it is likely that a couple of days of shooting would be enough, with minor edits required. This model can be more sustainable and cost-effective than the traditional weekly broadcasting method. The judges in this show are serial entrepreneurs, which is a valuable asset as it ensures that insights into start-up funding and operations are provided from an experienced perspective.

Government Involvement and Marketing Events

Interestingly, the government is also planning to partner with MTV to produce a show about startups. While this is a positive move, it is not a substitute for genuine entrepreneurial support. The focus should be on creating live events that foster entrepreneurship and strengthen the entrepreneurial community. Live events such as pitch competitions and workshops could provide a more tangible benefit to aspiring entrepreneurs. Such events could serve as a platform for networking, learning, and collaboration. The involvement of the government would not only be beneficial for entrepreneurs but also for the TV industry, as it would attract a more diverse audience and create a more compelling narrative.

Conclusion

Launching a show like Shark Tank in India is a challenging but not impossible task. While previous attempts like 'Business Baazigar' did not succeed due to their focus on emotional storytelling, 'The Vault' and similar shows represent a step in the right direction. By focusing on the merit of the business ideas and providing a structured platform for start-ups, such shows have the potential to be successful and could genuinely benefit the Indian startup ecosystem.

While the government's involvement is a positive step, it should be more about fostering entrepreneurship through live events and workshops than creating another TV show. The ultimate goal should be to support and empower Indian entrepreneurs, rather than simply creating more content for entertainment. By doing so, we can ensure that the focus is on the right aspects and that the shows truly serve their intended purpose.