ITV

Tag: Shark Tank

  • Shark Tank-like govt-run show to tie up with TV prod house

    Shark Tank-like govt-run show to tie up with TV prod house

    MUMBAI: India’s Department of Industrial Policy and Promotion (DIPP), on 4 March, gave a primary in-principle approval for a government-made reality show on the terms of American TV show Shark Tank so as to give a fillip to the startup culture.

    The DIPP may allow public voting so as to decide the ‘Most Popular Startup’, the Indian Express reported. At a 9 November 2016 meeting, it was also decided that 60 finalists will be given a reward of Rs 10 lakhs each.

    Shark Tank is a popular American show features a panel of potential investors called ‘sharks’ who consider offers from aspiring entrepreneurs seeking investments.

    The programme, to be simultaneously broadcast on the pubcaster Doordarshan, radio and digital platforms, would have startups pitch to an investors’ panel for impromptu investments.

    The DIPP plans to partner with a TV production house to oversee the implementation, production and execution of the TV show. The National Association of Software and Services Companies (NASSCOM) may be the coordinating agency for managing daily operations.

    The first round of evaluation is set to take place in seven cities — Mumbai, Delhi, Chandigarh, Kolkata, Bangalore, Indore and Guwahati. In all, 440 participants would be selected, of which 35 would be declared as “regional winners”. These winners would further proceed to the second round of evaluation or the “grand finale”.

    DIPP secretary Ramesh Abhishek said that the department is facing finance issues. NASSCOM told the government the show would require a budget of Rs 64 crore. While Rs 34 crore may be raised from states and sponsors, the DIPP would have to invest approx Rs 30 crore from their side.

    The show will be simultaneously aired across a number of platforms to “allow greater reach and connect with both the urban and rural audience across different sections of the society”.

    While the DIPP will have complete rights over the programme, NASSCOM may ‘managing’ day-to-day operations. “For implementation, a task force will be constituted with a partner leading in each region, who will be responsible for the execution of the entire show. This will include running day to day operations and for management of all deliverables, timelines, agencies and interfacing regularly with all sponsors and partners in each of the regions,” the DIPP note says.

    The proposed partners for north, east, west, south and central regions are — FICCI, The Indus Partners (TiE), Indian Science and Technology Entrepreneurs Parks and Business Incubator Association (ISBA), NASSCOM, Confederation of Indian Industry (CII), respectively.

    A steering committee to oversee the programme management would include representatives from NITI Aayog, the Ministry of Electronics and Information Technology, the HRD Ministry, and Department of Biotechnology, as well as Axis Bank and Yes Bank.

  • DIPP wants to launch startup TVshow & channel

    DIPP wants to launch startup TVshow & channel

    MUMBAI: Well, well, what will happen next under Indian prime minister Narendra Modi. The Indian leader has been at the forefront of declaring that innovation and business enterprise from young Indians is what India needs to drive it to the super power status that it deserves. Hence, the initiative Start UP India, Stand UP.

    Now the department of industrial policy and promotion (DIPP) is gearing to give this entrepreneurship drive a further impetus.

    The government body which comes under the ministry of commerce & industry has written to the information & broadcasting ministry (MIB) that it would like to launch a channel meant for entrepreneurs and start ups, along the lines of the Kisan channel which the government introduced for farmers and villagers.

    It is working on creating a TV programme along the lines of Shark Tank, the American on-television start-up funding television format. The show will be aired on national broadcaster DD and an outside agency is to be given the task of selecting the entrepreneurial ideas from daring entrepreneurs. It will also be assigned the task to assemble a panel of venture capitalists to grill the wannabe entrepreneurs and provide them with funding on live TV.

    The finalists of the show will be showcased at the StatUp Fest next month in Hyderabad.

  • DIPP wants to launch startup TVshow & channel

    DIPP wants to launch startup TVshow & channel

    MUMBAI: Well, well, what will happen next under Indian prime minister Narendra Modi. The Indian leader has been at the forefront of declaring that innovation and business enterprise from young Indians is what India needs to drive it to the super power status that it deserves. Hence, the initiative Start UP India, Stand UP.

    Now the department of industrial policy and promotion (DIPP) is gearing to give this entrepreneurship drive a further impetus.

    The government body which comes under the ministry of commerce & industry has written to the information & broadcasting ministry (MIB) that it would like to launch a channel meant for entrepreneurs and start ups, along the lines of the Kisan channel which the government introduced for farmers and villagers.

    It is working on creating a TV programme along the lines of Shark Tank, the American on-television start-up funding television format. The show will be aired on national broadcaster DD and an outside agency is to be given the task of selecting the entrepreneurial ideas from daring entrepreneurs. It will also be assigned the task to assemble a panel of venture capitalists to grill the wannabe entrepreneurs and provide them with funding on live TV.

    The finalists of the show will be showcased at the StatUp Fest next month in Hyderabad.

  • Startup finding reality TV series The Vault makes debut

    Startup finding reality TV series The Vault makes debut

    MUMBAI: The Indian version of Dragon’s Den – on which the iconic Mark Burnett show Shark Tank is based – is being readied to hit Indian TV screens come 1 October 2016. Called The Vault, the reality TV series is looking to fund start ups and nouveau entrepreneurial ideas.

    Each wannabe entrepreneur will get a chance to pitch his idea before a six member strong investor panel and get his or her idea funded to the tune of Rs 1 lakh to Rs 1 crore.

    The 12 episodic show spanning over 30 minutes will enable startups, household businesses, aspiring entrepreneurs with an extraordinary idea, or an established venture an opportunity to expand. The idea is to finance and mentor 36 entrepreneurs by the end of the show.

    But even before The Vault has gone on the floors, it seems to have to run into some sort of controversy. Which is what its American predecessor- Shark Tank – is known for.

    Jatin Goel, the creative brains behind it, says that it will air every Saturday at 7:30 pm on ET Now and every Sunday at 11:30 pm on Times Now. But the channel spokesperson told indiantelevision.com that nothing has been finalized yet.

    However Goel says that he has a signed contract with the Times Group for The Vault.
    Says he: “We have signed a contract with Times Group to discover the next big idea for startups to expand through The Vault. This show is a first-of-its-kind initiative in India towards developing a robust environment that fosters innovation and drives growth for promising business ideas irrespective of the sector they operate in.”

    Goel added that he will be helming the show.

    And he says the procedure to get a shot at the millions on the show has been kept very simple. Entrepreneurs have to register themselves on the show’s website by filling an application form with personal, company or idea related details and the funding expected by coughing up Rs 300 as a one time non-refundable fee. Applicants have to also mention how much equity they are willing to part and for what value. The last announced date of applications is 31 August 2016.

    Accepted applications will be screened and will be shortlisted for the first round of auditions in which each entrepreneur will be grilled about his idea by experts telephonically. A total of 100 applications will be taken forward from this round.

    The shortlisted 100 applications will have to upload a two minute video for the second audition round. From this, the list will be whittled down further to the final list of just 50.

    Goel strongly believes that the Indian entrepreneurial landscape is currently at its peak. “India has the third-largest and the fastest-growing startup ecosystem in the world. The growth witnessed by SMEs and household and rural businesses also indicates that there are many more milestones yet to be achieved.”

    The jury of six will – consisting of self-made millionaires who have already proven their mettle in various backgrounds- retail, technology, real-estate, FMCG, food, health, automobile industry- will judge the entrepreneurs on their idea or startup’s uniqueness and feasibility.

    The investors will be revealed one-by-one on TV and social media through various campaigns.

    A crew of 30 will be filming the show in Film City, Noida, starting the first week of September. An eight multicamera set up is being designed – with four cameras profiling the investors and their closeups when they are talking, two will zoom in on the entrepreneurs as they are pitching and their product showcase, and two will be used for long shots showing both the investor and entrepreneurs in one frame.

    As far as marketing is concerned, Goel says the show will be promoted highly on digital and will have some brand integration involved in it. He and his team are currently in talks with seven or eight advertisers to hop on board for this show.

    “We have not fixed any deals yet. There is no specific sector that we are targeting. Any company which can relate to our concept can be on board,” voiced Goel.

    Plans are afoot to launch a YouTube channel post the show’s run. Apart from a big push on digital, the show will also be marketed on TV, radio, print with various hoardings in metros mainly Delhi, Bangalore and Mumbai. The anchors from various channels falling under Times Network will also talk about the show.

    Will it do well in India? The wagers are on. The Subhash Chandra show on Zee Business has also been running for a couple of years . Shark Tank, which aired on Viacom18 English entertainment channel Colors Infinity earlier this year , met with a muted audience response according to reports. The challenge for The Vault does not only lie in securing advertiser backing but also in gaining its audience.

  • Startup finding reality TV series The Vault makes debut

    Startup finding reality TV series The Vault makes debut

    MUMBAI: The Indian version of Dragon’s Den – on which the iconic Mark Burnett show Shark Tank is based – is being readied to hit Indian TV screens come 1 October 2016. Called The Vault, the reality TV series is looking to fund start ups and nouveau entrepreneurial ideas.

    Each wannabe entrepreneur will get a chance to pitch his idea before a six member strong investor panel and get his or her idea funded to the tune of Rs 1 lakh to Rs 1 crore.

    The 12 episodic show spanning over 30 minutes will enable startups, household businesses, aspiring entrepreneurs with an extraordinary idea, or an established venture an opportunity to expand. The idea is to finance and mentor 36 entrepreneurs by the end of the show.

    But even before The Vault has gone on the floors, it seems to have to run into some sort of controversy. Which is what its American predecessor- Shark Tank – is known for.

    Jatin Goel, the creative brains behind it, says that it will air every Saturday at 7:30 pm on ET Now and every Sunday at 11:30 pm on Times Now. But the channel spokesperson told indiantelevision.com that nothing has been finalized yet.

    However Goel says that he has a signed contract with the Times Group for The Vault.
    Says he: “We have signed a contract with Times Group to discover the next big idea for startups to expand through The Vault. This show is a first-of-its-kind initiative in India towards developing a robust environment that fosters innovation and drives growth for promising business ideas irrespective of the sector they operate in.”

    Goel added that he will be helming the show.

    And he says the procedure to get a shot at the millions on the show has been kept very simple. Entrepreneurs have to register themselves on the show’s website by filling an application form with personal, company or idea related details and the funding expected by coughing up Rs 300 as a one time non-refundable fee. Applicants have to also mention how much equity they are willing to part and for what value. The last announced date of applications is 31 August 2016.

    Accepted applications will be screened and will be shortlisted for the first round of auditions in which each entrepreneur will be grilled about his idea by experts telephonically. A total of 100 applications will be taken forward from this round.

    The shortlisted 100 applications will have to upload a two minute video for the second audition round. From this, the list will be whittled down further to the final list of just 50.

    Goel strongly believes that the Indian entrepreneurial landscape is currently at its peak. “India has the third-largest and the fastest-growing startup ecosystem in the world. The growth witnessed by SMEs and household and rural businesses also indicates that there are many more milestones yet to be achieved.”

    The jury of six will – consisting of self-made millionaires who have already proven their mettle in various backgrounds- retail, technology, real-estate, FMCG, food, health, automobile industry- will judge the entrepreneurs on their idea or startup’s uniqueness and feasibility.

    The investors will be revealed one-by-one on TV and social media through various campaigns.

    A crew of 30 will be filming the show in Film City, Noida, starting the first week of September. An eight multicamera set up is being designed – with four cameras profiling the investors and their closeups when they are talking, two will zoom in on the entrepreneurs as they are pitching and their product showcase, and two will be used for long shots showing both the investor and entrepreneurs in one frame.

    As far as marketing is concerned, Goel says the show will be promoted highly on digital and will have some brand integration involved in it. He and his team are currently in talks with seven or eight advertisers to hop on board for this show.

    “We have not fixed any deals yet. There is no specific sector that we are targeting. Any company which can relate to our concept can be on board,” voiced Goel.

    Plans are afoot to launch a YouTube channel post the show’s run. Apart from a big push on digital, the show will also be marketed on TV, radio, print with various hoardings in metros mainly Delhi, Bangalore and Mumbai. The anchors from various channels falling under Times Network will also talk about the show.

    Will it do well in India? The wagers are on. The Subhash Chandra show on Zee Business has also been running for a couple of years . Shark Tank, which aired on Viacom18 English entertainment channel Colors Infinity earlier this year , met with a muted audience response according to reports. The challenge for The Vault does not only lie in securing advertiser backing but also in gaining its audience.

  • MGM buys out Mark Burnett, names him as president of TV & Digital

    MGM buys out Mark Burnett, names him as president of TV & Digital

    MUMBAI: Metro-Goldwyn-Mayer Inc. (MGM) is acquiring full control of United Artists Media Group (UAMG), in which reality TV producer Mark Burnett owned a 23 per cent interest with his wife Roma Downey.

     

    Additionally, Burnett has been named president of MGM Television and Digital Group.

     

    Burnett, who signed a five-year contract, will report directly to MGM CEO Gary Barber. Burnett’s new appointment will occur simultaneously with the closing of MGM’s acquisition of the remaining 45 per cent of Hearst’s, Burnett’s and Downey’s interests in UAMG, which will be absorbed under the MGM Television Group umbrella.

     

    “Mark Burnett is one of the most successful producers in television and a highly sought-after executive in content creation. His leadership is the next step in our never-ending quest to expand and grow our television and digital businesses,” said Barber. “Combining all of our TV content efforts under the purview of this unparalleled chief is incredibly exciting. Additionally, we believe this synergistic transaction will be very accretive to MGM.”

     

    Burnett and Downey will exchange their 23 per cent interest in UAMG for 1,337,360 shares of MGM stock valued at $90 per share. Hearst will receive $113.5 million in cash for their 22 per cent interest. This transaction will enable the complete integration of UAMG’s and MGM’s television businesses and the consolidation of their operations. The transaction is expected to close at the beginning of 2016 and was valued based upon the original deal parameters established when MGM acquired the initial 55 per cent of UAMG in 2014, less distributions.  The planned OTT channel will remain a separate entity controlled by its investors, Downey, Burnett, Hearst and MGM.

     

    “Joining MGM under the incredible leadership of Gary Barber is an exciting new chapter of my television career,” said Burnett. “Demand for quality content is stronger than ever and the opportunities to grow our pipeline and develop projects from the wealth of Intellectual Property in the MGM and United Artists libraries are enormous. There is no better time to be creating premium content for distribution across multiple platforms. “

     

    Downey added, “We have entered into an era where faith-based and family programming is experiencing a creative renaissance. I am so excited and grateful to head up the team at LightWorkers Media under MGM. This is an enthusiastic marketplace that inspires us every day to create and curate new, thoughtful and dynamic content for all screens in the distribution landscape.”

     

    In 2016, MGM Television will now have numerous unscripted and scripted television shows airing on network and cable or in production including: The Voice (NBC); Survivor (CBS); Shark Tank (ABC); Beyond the Tank (ABC); Celebrity Apprentice (NBC);Fargo (FX); Vikings (History); Teen Wolf (MTV);  500 Questions (ABC); The People’s Choice Awards (CBS); Lucha Underground (El Rey Network) and America’s Greatest Makers (INTEL/Turner).

     

    As part of the new structure, Downey will serve as president of LightWorkers Media, which will be the faith and family division of MGM Television, and will report to Burnett.  Downey will also serve as the chief content officer for the planned OTT channel. 

     

    Additionally, Chris Ottinger has been promoted to president of worldwide television distribution & acquisitions for MGM, reporting directly to Barber. MGM president of television development & production Steve Stark will continue to oversee all scripted content and will report directly to Burnett in an expanded role.

     

    MGM president of domestic television distribution John Bryan will continue in his role overseeing domestic distribution. Roma Khanna has stepped down from her position as head of television and digital. “Roma has done a terrific job at MGM. We are thankful for her efforts in helping grow MGM and wish her much success in her future endeavours,” said Barber.