India has one of the largest and fastest growing startup ecosystems in the world today and the government is leaving no stone unturned to further boost the rapid growth in this sector. In line with the vision of Startup India Program of developing a culture of entrepreneurship in the country, the government is very soon expected to launch a Startup Reality Show on the lines of Shark Tank (a popular American reality show). The show is expected to be aired on Doordarshan alongside a private general entertainment channel (GEC), a radio station and a digital platform. The DIPP is also expected to partner with a TV production House / Media House for producing the show.
The format of the show is expected to be one where startups will be pitching their ventures to a panel of investors and the shortlisted startup will be chosen for investments. An in-principle approval for the show was obtained by the Department of Industrial Policy and Promotion (DIPP).
The startups will be able to apply through online and offline channels which will be followed by a screening process to shortlist the startups for the TV show. There is also a public voting mechanism expected to be put in place for higher engagement with the viewers.
FICCI, The Indus Partners (TiE), Indian Science and Technology Entrepreneurs Parks and Business Incubator Association (ISBA), NASSCOM, Confederation of Indian Industry (CII) have been finalised as the partners for north, east, west, south and central regions respectively. Also, a committee will be formed to supervise the functioning of the program which would consist of NITI Aayog, the HRD Ministry, Ministry of Electronics and Information Technology, Department of Biotechnology, Yes Bank and Axis Bank.
To sustain the momentum and spirit of entrepreneurship, follow-up events/seasons will also be held. Videos and success stories of the startup ecosystem and culture etc. will be used to educate and ‘seed’ the show before its launch. Last year it was decided that a reward of Rs. 10 Lac would be given to each of the 60 finalists of the show.