Shark Tank is an American reality show where aspiring entrepreneurs from across the globe pitch their ideas to a panel of investors and try to convince them to invest in the idea.
India may soon have its own version of American reality show Shark Tank as the Department of Industrial Policy and Promotion (DIPP) is set to start the screening process for start-ups wishing to participate in the show in a couple of weeks, reports the Financial Express.
The final round will telecast simultaneously on Doordarshan and a private general entertainment channel, the report says.
The American version of Shark Tank provides a platform for aspiring entrepreneurs from across the globe pitch their ideas to a panel of investors and try to convince them to invest in the idea.
A DIPP official told the newspaper that the idea behind the reality show is to promote the start-up culture in India.
To feature on the show, contestants will have to clear a screening round and two evaluation rounds.
Around 2,000 applications will be shortlisted from 10,000 participants at the screening stage. These initial applicants will get a chance to pitch for investors in the initial round. From this some 440 will reach the second round where the list will trim down to 30-40 for the grand finale.
“We are also thinking of having a provision for the public to vote (on which contestant should get the funds,” the DIPP official said.Ficci, The Indus Partners, Indian Science and Technology Entrepreneurs Parks and Business Incubator Association, NASSCOM, and Confederation of Indian Industry (CII), are the proposed partners for north, east, west, south and central regions respectively.