For businesses that are just starting their journey, acquiring proper funding is a must. Not everyone can expand their companies using their own capital. Not everyone possesses that kind of money. This is why companies should look for outside investors who can help such firms survive and achieve sustainable growth over a longer period of time.
- In reality, everyone knows that finding investors is not an easy job.
- Founders need to work hard and they need to attend several meetings with potential investors to crack a favourable deal. Overall, it is quite a lengthy process that businesses must go through if they need additional funds.
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This is why start-up events, such as Shark Tank India, can be a great place for business owners who can join these events, pitch their business proposition in front of the investors and sign lucrative deals if the investors think that their businesses have the potential to grow.
What is Shark Tank India?
Shark Tank India is a reality show, where start-up owners can pitch their businesses in front of the ‘sharks’ (judges of the show). Start-up founders offer a percentage of their company on a certain valuation and negotiate on the terms so that the Sharks can finally offer a deal as per their choices.
The first season of Shark Tank India was a huge success, which prompted Sony to air a second season of the show. The first season can still be streamed on the SonyLIV app and the SonyLIV website (for viewers who have not watched it yet).
However, the SonyLIV app and website have different subscription packages and viewers must subscribe if they want to stream the episodes of Shark Tank India (season 01). The free alternative is offered by MX Player and SET’s official YouTube channel.
“Sharks” (Judges) Who Were Present in The first Season of Shark Tank India
- Ashneer Grover, co-founder and managing director of BharatPe
- Aman Gupta, co-founder and chief marketing officer at boAt
- Peyush Bansal, co-founder and CEO of Lenskart
- Anupam Mittal, founder and CEO of Shaadi.com
- Ghazal Alagh, co-founder of Mamaearth
- Vineeta Singh, co-founder and CEO of Sugar Cosmetics
- Namita Thapar, executive director at Emcure Pharmaceuticals
Statistics of Investment Made by Sharks in The First Season of Shark Tank India
The first season of Shark Tank India aired 35 episodes, each of which had a running time of 60 minutes. The first season featured 117 participants who pitched their business propositions to the sharks.
When the show was completed, it was revealed that the sharks had invested approximately Rs. 36 crores combined. Ms. Thapar herself had invested Rs. 7 crores across 25 deals and she went on to invest an additional amount of Rs. 3 crores even after the show was concluded.
How To Register Your Start-Up at Shark Tank India?
The registration process for Shark Tank India is described below –
Businesses must apply online at the very beginning to start their registration.
- Download and install the SonyLIV app from the Play Store (for Android users), or the App Store (for iOS users). After installation, you can find the Shark Tank India thumbnail on the homepage of the app. By clicking on this thumbnail, you will land on the registration page. You will have to enter your mobile number and complete the OTP verification to continue. You can also start the process on the Shark Tank India website.
- Next, you will have to set your preferred language and accept the ‘Terms and Conditions. On the following page, you will find the necessary instructions to complete your registration.
- Following this, you will have to fill in your profile information. You must provide some key details such as your name, address, educational qualifications and occupation.
- In the second section of the profile information, you will have to provide the necessary information about your business. Here, you will have to submit the name of your company, the industry it belongs to, a summary of what your company does and upload a picture of your products. You will need to collect a safety document for your product or prototype if it is required. However, note that businesses in the ideation stages are also accepted for the show.
- Next, you will have to specify the amount of money you expect to raise from the show and the percentage of shares you are willing to offer in exchange for investment.
- Next, you will submit the financial and legal information about your business, such as:
- Whether your company is registered or not?
- Whether your business was involved in a previous legal hassle or not?
- Whether you had filed any bankruptcy previously or not?
- Whether you had pitched your idea on a different show that was telecasted?
- You will also need to mention whether you are legally restricted from acting as the director of the company you are pitching?
- Next up, you must submit a 250-words-long self-description and sign a final declaration form that states that your company is not bound by any confidentiality obligations.
Pitch Video and Audition
- For the first stage of the audition, you will have to submit a 3-minute-long video that will describe your business idea directly to the show. If your pitch is accepted, then you will move on to the second stage of the audition.
- If your business is shortlisted, then you will be able to participate in a round of auditions with the Shark Tank India team to finally join the show. In the audition process, which will be held in selected cities across India, the team will evaluate your business idea.
- Following this, you will have to retain any applicable trademark and intellectual property certifications. You will also have to submit the necessary documentation for the KYC verification process.
- In the next step, you will have to submit the financial documents and records for your business. The records will include necessary information – such as: your income tax returns, bank loans and documentation for funds that you have raised previously.
- If your business is shortlisted in this audition, then you will have the chance to finally join the show and meet the sharks to pitch your business idea.
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You can join Shark Tank India or other start-up events if you feel that your business has the necessary spark for attracting investors. Keep reading for more interesting articles on start-ups and business events.
Do much funding I can get from Shark Tank India?
It entirely depends upon your product idea and your company’s performance. You can fetch your desired amount from the investors or sharks (if your products or services seem valuable to the sharks). Apart from this, it is important that you should focus on developing the value of your products and services.
Do my funding can be canceled after getting the offer from sharks?
Till now, no such news has been published yet that claims the funds of the start-ups are canceled after issuing from Shark Tank Season. However, there is a minor possibility that your funding can be canceled if your startup will found to be indulging in any illegal activities.
Shark Tank India’s youngest entrepreneur?
Anoushka Jolly was the youngest entrepreneur to get funding from Shark Tank India. In season 1, she got funding Aman Gupta and Anupam Mittal.
What are the main areas which I need to remember for getting funding from Sharks?
Below are certain areas that can improve your probability of getting
funding from the sharks:
- Positive cash flows.
- Usability of your products or services.
- Which types of problems can be solved through your products or services can overcome?
How can I get selected for Shark Tank India?
To get selected for Shark Tank India, you need to make sure that your business or service should have a great competitive advantage. It will help you to increase your probability of selection.