Entrepreneurs present their pitches to the "sharks" on the business reality television programme Shark Tank India, who then decide whether or not to invest in them in exchange for a stake in the businesses. After two successful seasons, the Sony Entertainment Television programme recently opened up applications for a third.
Anmol Sharma, a Twitter user who describes himself as an entrepreneur, recently claimed?that Shark Tank India is afflicted by the "delayed funding scam." He explained in a series of tweets how the participants on the show are more likely to be "frustrated and broken" than the sharks and the Sony network do.
The user wrote, "Shark Tank India 'Delayed Funding' Scam! Today I'm about to share the story of many frustrated and broken Shark Tank India contestants, This might shock you! These contestants had one of the most compelling pitch and were promised funding on national television but hasn't received a single paisa from Shark."
"Let's look at the Shark Tank India timeline to understand how these Sharks look to blackout from their agreement, June to July is the period when Sony is accepting registrations for Shark Tank. For example, The Shark Tank S3 registrations are live now. August to November is when the actual physical pitches take place from the filtered lot. Between Dec to Jan, the Sony team wrap up their post-production and get Shark Tank ready to air. Now if a start-up was promised funding between Aug to Nov, they should receive their funding within 2 months because the due diligence and the legal proceedings don't go longer than that", he continued.??
He continued, "The start-ups that don't respond too well when the show is aired, they're made to move around in circles so they can further delay the investment and eventually try to get out of the agreement. " He also mentioned how some start-ups don't even receive money from other investors. They even turn down funding from other investors due to this predicament since they claim that "Sharks ne investment de di kya? Have Sharks invested in you? Woh de denge to aana hamare pass. Then they come to us after giving. The entrepreneurs I spoke to (whom I will not name at this time) dealt with all of these issues.
"You know, Shark Tank is more benefiting the Sharks and Sony network, they're looking to dramatize the entrepreneurial activities to gain traction and TRP which in turn helps the Sharks to gain social recognition and push their own brand. Look at Lenskart founder, Peyush Bansal, he's gained enough recognition that he's on his own TV commercial along with Karan Johar. The ex-shark Ashneer Grover was able to stir the pot enough and get into controversies, and when he launched his book, it recorded astounding sales. He is also in the ads of CrickPe. Anupam Mittal and Aman Gupta, co-founder of boAt have gained massive recognition, just go and check their Instagram, they're doing conferences, podcasts, and attending red-carpet events. Shark Tank India was a success because of the aspiring entrepreneurs on the show but instead of benefiting them more, the show has elevated the Sharks and Sony's TRP. Who is to blame here? What do you think, everyone?" Anmol concluded.
The show has also included Ghazal Alagh, Namita Thapar, Vineeta Singh, and Amit Jain in addition to the aforementioned "sharks" These allegations have not yet received a response from the station or any of these eight executives.??