Frustrated contestants of Shark Tank India reveal the delayed funding scam, raising questions about fairness and accountability.

Table of Contents

Introduction

In a shocking revelation, frustrated and disheartened contestants of Shark Tank India have come forward to share their stories of broken promises.

Despite delivering compelling pitches on national television, these entrepreneurs claim they have yet to receive a single rupee of the promised funding from the Sharks.

The timeline of events suggests that the Sharks intentionally delay providing the funds, raising questions about the show’s authenticity.

Let us dive deeper into this alarming issue.

The Timeline of Shark Tank India

Shark Tank India begins with Sony accepting registrations between June and July.

The actual physical pitches occur from August to November, during which the selected entrepreneurs present their ideas to the Sharks.

Subsequently, between December and January, the Sony team wraps up post-production work, preparing the show for airing.

Deliberate Funding Delays

According to the contestants, if a startup receives a funding commitment between August and November, they are supposed to receive the funds within two months.

However, the Sharks deliberately prolong the process, waiting for the show to air.

They assess the impact of the “Shark Tank Effect” on the startups by monitoring website traffic and sales after the episode is broadcasted.

Additionally, they keep an eye out for other investors interested in making an offer.

Startups that perform poorly after the show’s airing are kept in limbo as the Sharks further delay the investment process.

Ultimately, the Sharks attempt to find a way out of their agreement, leaving these entrepreneurs in a difficult position.

Compounding their struggles, other potential investors hesitate to provide funding, believing there must be a reason why the Sharks did not invest.

Benefiting the Sharks and Sony

The contestants I spoke to, who preferred to remain anonymous, have faced these problems firsthand.

They believe that Shark Tank is more advantageous for the Sharks and the Sony network.

The show tends to dramatize entrepreneurial activities to gain higher viewership and TRP ratings, which, in turn, helps the Sharks gain social recognition and promote their brands.

Prominent examples include Lenskart founder Peyush Bansal, who has gained significant recognition and appears in his TV commercials alongside Karan Johar.

Former Shark Asheer Grover, who courted controversy during his tenure on the show, witnessed astounding sales when he released his book.

He is also featured in CrickPe advertisements.

Similarly, Anupam Mittal, founder of shaadi.com, and Aman Gupta, co-founder of boAt, have achieved substantial fame.

Their active presence on Instagram, participation in conferences, podcasts, and attendance at red-carpet events are evidence of their elevated status.

A Discrepancy in Benefits

While Shark Tank India has undoubtedly been successful due to the participation of aspiring entrepreneurs, the show disproportionately benefits the Sharks and Sony in terms of recognition and TRP ratings.

This raises concerns about the fairness of the process and leaves the entrepreneurs feeling neglected and exploited.

Looking for Accountability

The blame for this situation remains uncertain, leaving room for debate.

It is crucial to shed light on the other side of the story and ensure that more people are aware of the challenges faced by entrepreneurs participating in Shark Tank India.