Are you ready for the desi 'Shark Tank' startup reality show?

Are you ready for the desi 'Shark Tank' startup reality show?

Posted by P. Charitha on April 21st 2017

The Department of Industrial Policy and Promotion (DIPP) which had earlier given its in-principle approval for a government-run reality show on the lines of the popular American TV programme Shark Tank, Read, could actually be  a reality with the grand finale touted to happen in the months of October- November. A decision has   in this regard  has been taken  by  the Department of Industrial Policy and Promotion (DIPP), which is steering the exercise. 
A government official said that at least 50 start-ups will be selected to showcase their innovative ideas and pitch for investors in the show. They are on the verge of freezing the entire programme by the month-end and start implementation. The Indian Express reports that NASSCOM has told the government the show would require a budget of INR 640 million ($9.7 million approx) . While INR 340 million ($5.2 million) may be raised from states and sponsors, the DIPP would have to shell out at least INR 300 million ($4.5 million) from its own pocket.
The plan is to complete the screening of applications by June, get the regional shows off the ground by August and hold the grand finale in October-November. According to an official “There is always the possibility of things getting delayed by a few weeks, but we will more or less try to stick to the time schedule,” . The grand finale will be telecast on Doordarshan as well as one general entertainment channel.
Industrial bodies including the CII, FICCI, TiE and Nasscom have been roped in to implement the programme region-wise. “While Nasscom is the overall coordinator, the other industry associations will be given charge of one region each. They will be in charge of carrying out the entire operation,” the official explained.
The industry bodies will work on awareness building, organising events around the show, pitching events in different cities, screening applications, mentoring, organising workshops and broadcasting.
The television show aims to spread awareness about start-ups in the country in line with the ‘Start-up India Action Plan’ launched last January with the objective of empowering start-ups to grow through innovation and design and accelerate spreading of the movement.
While the DIPP will contribute part of the funds required to carry out the show, the industry bodies will help the government bring in as many sponsors as possible.Each of the seven regional shows that have been planned in Mumbai, Kolkata, Delhi, Guwahati, Indore, Chandigarh and Bengaluru will have participation from all States in the region. DIPP will also write to various State governments to participate in putting up the reality show. “While we do not want States to contribute financially, their participation in implementation is important for the success of the show,” the official added.Source: The Hindu Business Line


No Comments Found

Leave your comment

Sign in to Post your Comments on this story