Who Will be the Judges for Shark Tank Pakistan?

Buckle up, Entrepreneurs! Shark tank is coming to Pakistan. Greenlit Studios has acquired the air rights to the popular business reality show Shark Tank.

Shark Tank is a reality business TV series that features aspiring entrepreneurs, who pitch their ideas to a panel of judges named “sharks” in the hope of acquiring an investment.

Many of us are familiar with the American version of Shark Tank featuring Mark Cuban, Lori Greiner, Barbara Corcoran, Daymond John, and Robert Herjavic. But did you know that the original show is Japanese, came out in 2001, and is called The Tigers of Money? Since then the show has been adapted by 9 different countries.

Challenges Facing Shark Tank Pakistan’s Success:

What does this mean for Pakistan? Pakistan’s startup scene faces serious problems. While there’s enthusiasm for creating a Pakistani version of Shark Tank, they need to overcome several hurdles. Securing resources is a major challenge. Venture capital is scarce, hiring costs are rising, and consumer spending is at an all-time low. This makes it difficult for startups to get the funding they need to grow. Additionally, Pakistan’s markets tend to be dominated by a few large media players, making it even harder for new businesses to compete.

So what prompted this idea of “ Shark Tank Pakistan?” This is due to the success and positive response of the show in countries like India and Bangladesh.

But can Pakistan bring in the same amount of success? Well, according to the founders of Greenlit Studios, yes they can. 

The studio has taken into consideration  Pakistan’s current content creation capabilities and production capacity. According to them, their team is committed to significantly improving both. They have ambitious goals to increase production volume by 50% and refine the content quality in Pakistan by 30%.

Securing the Right Investors:

Shark Tank Pakistan aims to boost Pakistani entrepreneurs and remake the country’s entertainment scene. The creators acknowledge the need for fresh, high-quality content and audience education. They plan for a diverse panel of six investors, including two women, to offer a variety of perspectives. They understand that building a new culture takes time and are prepared for public doubt. 

Shark Tank seems to be moving away from traditional capitalists, instead looking for investors who built their businesses from scratch.  “We need to find sharks who understand the challenges startups face, not just those with a high net worth,” content licensing specialist, Malik, explained. Sony agreed, and they’re setting selection criteria that reflect the realities of Pakistan’s startup ecosystem.

While Shark Tank is set to air locally, Greenlit Studios has expanded its reach so that the show will also be streaming internationally, potentially opening up to a wider audience.

Judges Unveiled:

One of the primary hurdles faced with producing the show was finding successful investors who wanted to appear on the show. Furthermore, the ideal investor not only has to be successful but should also have a charming personality suited for television.

Pakistan’s first-ever Shark Tank will now include six investors, including Rabeel Warraich, who is the founder and CEO of Sarmayacar, an investing firm.  Aleena Nadeem who is the founder and CEO of Edufi , made Forbes under 30. Junaid Iqbal, the  CEO of Salt Ventures. Karim Teli, who is the managing director at IGLOO. Faisal Aftab, the founder and GP at Zayn.VC. Romana Dada, a Forbes featured entrepreneur, and Usman Bashir, owner of retail and gas stations.

Greenlit Studios has also partnered up with TikTok, making it the official entertainment partner of Shark Tank Pakistan. According to Qazi  “There is a content emergency in Pakistan, it is indeed an emergency because content shapes the mind.” Therefore, partnering up with TikTok will allow them to reach Genz and Millennials.

The filming of Shark Tank Pakistan is set to begin in July and will be available to stream on Green Entertainment by September 2024.