The Narendra Modi’s BJP government on January 16th, 2016 launched a campaign called Startup India. And now the government plans to bolster and revive startup culture in India through a startup reality show, Shark Tank. The show will be based on the principles of the American television show of the same name. The Department of Industrial Policy and Promotion (DIPP), which overlooks the startups and similar affairs, have already given its nod and approval for this government based reality show.
The show will be coordinated by National Association of Software and Services Companies (NASSCOM) while the regional implementation of the programme will be overlooked by CII, FICCI &TiE. The program will be simultaneously broadcasted on Doordarshan (an autonomous Government of India founded public broadcaster) and a private general entertainment channel. Moreover, it will also be broadcasted on radio and other digital platforms.
Hardly within a month, the registration procedures will kick off. So entrepreneurs, buckle up. The applicants will be able to register for the show via both online and offline means. The aim of the show is to reach every young entrepreneur of India. Once the applicants are done with the registration, a filtering process will be conducted in two stages.
- One Round of Screening
- Two Rounds of Evaluation
As many as 440 startups will be selected after screening rounds.Later comes the evaluation stage. And as many as 7 regional shows has been planned for this stage in the cities of Mumbai, Kolkata, Delhi, Guwahati, Indore, Chandigarh and Bengaluru. 5 winners will be selected from each of these 7 regions. Later, they will move to evaluation stage, where 35 selected startups will be declared as regional winners. Up to this stage, the event will be offline and won’t be broadcasted.
Thereafter, the regional winners will move on to the next stage of evaluation where they will have the opportunity of pitching their business idea in front of investors. The investors if they like the idea, will offer a certain amount or even an equity share in their startup. This round will be called as the grand finale round and will be broadcasted. The government plans to reach to this stage by the month of October – November.
On November 9th 2016, it was also decided that the top 60 startups will receive a sum of 10 lakhs so that they can launch their startups. For more details on this start up reality show and other Indian shows, stay in touch with us.