M-Net, channel 101 on DStv, and Telkom SA will soon be shining the spotlight on entrepreneurs with a local version of the Emmy Award-winning US reality show Shark Tank.
Shark Tank South Africa will be broadcast on Sunday nights from October 2016. Entrepreneurs will have to pitch their ideas in front of a panel of successful South African business moguls, known as the “Sharks”, who are willing to invest their own money and time to develop deserving and potentially lucrative business ventures. They will need to convince these highly critical and experienced Sharks that it will be worth their while to bankroll their new business, product or invention.
Budding entrepreneurs can now submit their entries for Shark Tank South Africa. If shortlisted, participants will be able to step into the Shark Tank for a shot at convincing the Sharks to back them financially.
“It’s indeed the opportunity of a lifetime for everyone who needs some funds to make their money-making dreams come true,” says M-Net’s Head of Publicity, Lani Lombard. "But take note, these Sharks have sharp teeth. You will need to tell them how much capital you’re asking for, in exchange for what percentage of equity in your business. Then the Sharks will grill you about your product, business forecasts, competition and growth ideas before even considering an investment. If you stand your ground, have your facts straight and show promise, however, the rewards will be worth the sweat, and you’ll be swimming with the big fish!”
So, how do you get into the Shark Tank? Sponsored in full by Telkom SA, entries for Shark Tank SA are now open. All you have to do is fill out the online entry form and 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. It’s all about giving an elevator pitch that demonstrates that you really mean business.
Entries close on Sunday, 31 July and successful candidates will be notified by Thursday, 4 August. You have to be a South African citizen or resident, and must be over the age of 18 to enter.
“Telkom believes in the power of small business to create jobs and grow South Africa’s economy. We are proud to be able to partner with M-Net in bringing Shark Tank South Africa to our screens in order to inspire entrepreneurs and start-ups around the country,” said Telkom Chief Marketing Officer Enzo Scarcella.
The names of the Sharks will be announced in due course. Shark Tank is based on the format created by Nippon TV in Japan and distributed around the world by SPT. The series is produced for M-Net by Rapid Blue.
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For more on Shark Tank South Africa like the show on Facebook and follow it on Twitter.