Shark Tank India's Impact on Entrepreneurial Mindsets: Inspiring the Next Generation

India is a country with a bit different thinking than what people believe and opt for in other parts of the world. The south Asiatic region has cultural differences that affect the youth and families, who try to ignore the risks, critical thinking, and odd decisions. 

A simple question of career choice would define the perspective of the Indian parents, who strictly oppose any of such decisions. But thanks to Shark Tank India, which showed the youths of the country by the Arabian Sea, a path to discuss their pitches with their parents even before they do it with the actual investors.     

The reality show has fostered startups in India and has even brought significant changes for budding entrepreneurs. The youth from middle-class families who were afraid to discuss their projects and business plans in front of their parents and family gatherings, now had an open sky to spread their wings of ideas. 

Filled with eagerness, several about to be 9 to 5 employees have now dared to step into the world of business. In addition, Shark Tank has given them confidence and proof that they too can have a successful future.  

The Indian business market has never seen such a drastic shift, as it is witnessing today. Let's take a look at how Shark Tank India has had an impact on the entrepreneurial mindsets in the country. 

Teaching Business Terms
Example for Future Contestants
Changing the Age-Old Idea and Promoting Mass Entrepreneurship
Inspiration
Boost to Products by Entrepreneurs
Facts About Shark Tank India

Teaching Business Terms

Before Shark Tank was aired in 2021 on Sony TV, only a few knew business terms such as pitching, raising external investments for startups, and more. But having Shark Tank being televised on their idiot boxes, the audiences have been influenced and are now exposed to new terms. 

These terms and topics included valuation, investment, gross margin, D2C, pitching, and more. Today not only those who have studied entrepreneurial works know about the meaning behind these terms but from a kid to an 80-year-old has become familiar with such terms, filling in the age gap. 

Startup culture is now an attraction and has even changed the way people perceive this bravery by youths. 

Example for Future Contestants

The investors on the reality show Shark Tank, who are also regarded as the Sharks have stated that the first season was just a warm-up season as the entrepreneurs didn't have a perfect pitch or presentation ready. 

But with the end of the initial season, the future contestants will have a better picture in mind of how to please the Sharks on the show. They will have knowledge and understanding of how pitches work. The future Shark Tank entrepreneurs will even feel confident to go on national television while discussing their innovative ideas. 

Changing the Age-Old Idea and Promoting Mass Entrepreneurship

The Indian culture raises kids within a conservative environment. This atmosphere usually suggests they choose a secure career instead of pursuing entrepreneurship. Thanks to Shark Tank, for changing this age-old mindset. 

Shark Tank can promote mass entrepreneurship and boost the startup ecosystem in the country. India roughly has a population of 500 million between the ages of 15 and 44, the generation is capable of taking a risk and starting their own business. 

As Shark Tank has reached the Indian middle-class families, there is a chance that the country could see a shift in its mentality towards startups in the coming years as well.

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Inspiration

Examples work a lot in India. Parents calling their son the next Sachin Tendulkar and daughters Kalpana Chawla have lasted through generations. 

With Shark Tank, now is the time to call the young ones to be the next Peyush Bansal and Vineeta Singh. This is already happening in India which means the country has seen a huge cultural shift. 

Shark Tank introduced a panel of investors, Sharks who have experienced struggle and are now in a position to negotiate investment on the reality show. The sharks are people who have filled in a gap with their unique ideas. 

These Sharks are the ones who came up with solutions for issues that the people around them weren't even aware of. Moreover, the Sharks are admired by the people in India and hence are a great example for the future generation. 

Boost to Products by Entrepreneurs

Best of all! Shark Tank gave entrepreneurs in India a great platform to showcase their innovative ideas and portray them in front of the whole nation. But the opportunity just didn't stop here, the products showcased on Shark Tank have been in high demand since they aired. 

Revenue for these businesses has increased exceptionally. The show has worked as a golden opportunity for entrepreneurs and startups, through Shark Tank’s medium they have increased their brand value and established a well-built position in the market. 

Facts About Shark Tank India

• Shark Tank India in its first season received 62000+ applications out of which only 198 startups were shortlisted.
• Out of the 198 startups that had pitched in front of Sharks, a mere 67 were able to raise capital through the show.   
• When talking about the entrepreneurs, 87% were the founders who had no IIT/ IIM degrees. Besides this, 67% of the startups had a co-founder who was below the age of 25 years. 
• Amongst the 198 startups, 60% were never funded before, while 30% of the startups belonged to Tier 2/3  cities or were from rural parts of the country. 
• Similarly, the first season of Shark Tank had 27% of startups that had couples or families as co-founders, while 43% of the businesses showcased, had at least one woman co-founder. 

Conclusion

Shark Tank has inspired the people of India by introducing them to business terms. Now even a layman speaks the language of an entrepreneur. With that, Shark Tank also explained the benefits of investing in a business. 

Even if not through a reality show, entrepreneurs today have found the courage to approach pretty successful investors and have their money-making cycle roll. 

Shark Tank has altered the psychology of Indian society, bringing a positive change in the entrepreneurial landscape. 

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