SHARK TANK: Paving the way for emerging entrepreneurs

"There's no shortage of remarkable ideas; what's missing is the will to execute them." – Seth Godin.

Everyone wants to be successful without undertaking any risk, but unfortunately, that's not how it works! One has to be competitive enough and willing to do whatever it takes. The willingness to create something new and bear financial risks to make profits is what entrepreneurship is all about.

Slowly gaining momentum in recent years, entrepreneurship has become one of the most talked-about topics in the world today. Though it is still a surfacing concept in India, it is gradually being accepted and seen as an alternative career option.

There's a perception that Indian households don't really encourage their children to go into entrepreneurial pursuits or start their own businesses. Children are usually persuaded to take jobs in either MNCs or government sectors in most educated middle-class families. Almost every Indian who wants to discover the path of entrepreneurship is often held back due to the hindrance of support from family members or societal pressure.

There's a need to overcome this problem and change the traditional mindset of the people in our country.

In an attempt to do so, entrepreneurship has stepped into the entertainment industry with the recent reality television series 'Shark Tank India,' through which it is acquiring the attention of a large audience. The show premiered a few weeks ago but has gained immense popularity within this short span! It showcases rising entrepreneurs who pitch their business ideas to a panel of renowned investors, referred to as 'sharks'. The entrepreneurs are expected to hand over a significant percentage of equity in their company to reap the fringe benefits of having a shark invest in their business.

Shark Tank allows its participants to scale their businesses and offers other aspiring entrepreneurs to refine their business models based on the mistakes and successes of others. Even if the contestants fail to answer the cut-throat questions and do not land on investment, they definitely can secure an enormous amount of recognition for their startups.

The show received 62,000 aspirants from India, out of which 198 businesses were selected to pitch their ideas to the 'sharks.' From these 198 investment pitches, 67 business ideas got deals this season. The total investment made by the investors is estimated to be around

₹41.98 crores!

As a result, many people from all over the country are now inspired to display their talents and start something new rather than restraining themselves to the particular notion of taking up a standard 9 to 5 job. There is nothing wrong with a job, but it should not be seen as the only option left with people. Parents should encourage their children to be job holders and job creators.

Apart from this, Shark Tank India has taken social media by storm and has become a 'hot topic' for memes on the internet. From the peculiar straightforwardness of the investors in approving or rejecting a pitch to their catchy punchlines made on the show, all of it is capturing a tremendous amount of attention online. Even if one hasn't watched the show, it would be impossible to have missed the memes flooding on almost every social media platform!

To sum up, Shark Tank has undoubtedly helped millions of people to believe in themselves and motivated the youth of our country to think out of the box. By providing an abundance of information to be applied to the ventures, it has the potential to boost sales for companies significantly! It has undoubtedly promoted entrepreneurship and made India a hub for various startups.