Cool news with bite!
TVSA has been
asking for it for since 2009 and it's
eventually happened. M-Net has secured the rights to the world's most exciting entrepreneurial show Shark Tank.
It's made multi-millionaires out of people who've entered it in America and Australia and now it's Our Time.
The format is very similar to the awesome
Dragons' Den (it's based on Dragons' Den), except it has more razzle dazzle and glitz and the investor Shark's have sharp teeth. It also has real sharks in tanks. They circle and swirl and get frenzied when they smell entrepreneurial blood in the water.
Word from M-Net is that Shark Tank SA materialised from Dragons' Den SA, which aired on Mzansi Magic in 2014. It was never renewed on Mzansi Magic so M-Net was interested in picking it up but wanted a unique angle on it and therefore chose to do Shark Tank instead.
The formats are very similar: entrepreneurs present their business ideas to a panel of investors (Dragons/Sharks) who decide on whether or not they want to invest in each business.
The Shark Tank format has been created by Survivor creator Mark Burnett and has become a cultural and business phenomenon in America and Australia. The Sharks have become celebrities and the show has changed the lives of entrepreneurs in both countries.
Rapid Blue (who produced Dragons' Den) will be producing it for South Africa and it's going to air in M-Net on Sundays at 18h00 from October.
Here's a trailer for the second season of the American version which gives a very clear idea of what it's like:
(Double click video to enlarge for PCs)
Our Sharks haven't been named yet - we'll keep you posted when they are.
If you're an entrepreneur who wants investment in your business and business partners who will take your enterprise to the next level, this show is for you.
How to enter
You can enter by visiting the show's page on the M-Net website here:
Entry forms.
You'll need to submit a 60-second video with a concise version of your business pitch to the Sharks. The video can be filmed on a camera or on your phone and doesn’t have to be of high production quality. The most important thing is to give a short elevator-type pitch that illustrates that you really mean business.
Must-knows
You need to be 18 or over to enter and must be a South African citizen.
Closing date for entries:
Sunday, 31 July. (The date has been extended from 24 July).
Successful candidates will be informed by Thursday, 4 August.
Filming starts in mid-August.
Flash facts
When you present your business to the Sharks on the show, this is what you can expect:
- You will need to tell them how much capital you’re asking for in exchange for what percentage of equity in your business they will get in return i.e. "I'm looking for R500 000 investment for 15% of my business."
- The Sharks will then grill you about your product, business forecasts, competition and growth ideas before considering an investment.