If India wasn’t already known for being a mecca for startups before, Nasscom is insuring it will be with its own version of the startup reality show Shark Tank. This initiative allows groups to give 8-minute presentations in hopes of receiving a check of Rs 25 lakh to Rs 1 crore and will create and grow roughly 10,000 startups around India in 10 years.
With it taking place in Bangalore, India’s “hub of technology and innovative enterprises”, I am excited to see what companies will come of this show. Overall, I believe that it will be beneficial to India’s economy. My only concern is that this could easily give false hope to India’s masses that pursing a startup is easy and will usually end in success while in truth it is significantly hard and most often ends in failure. Yet even with this potential pitfall, I am very in support of this entrepreneurial endeavor because on the whole it will be educational and am willing to bet we will begin to see direct and indirect byproducts of the show popping up in the US with rebranded names in the next 10 years.