AMPLIFYING ENTREPRENEURSHIP

Shark Tank Nepal is an eagerly anticipated business reality show designed to connect entrepreneurs with revenue-generating businesses to potential investors. The show offers a unique platform for entrepreneurs to present their business ideas and financial information to a panel of experienced investors, known as ‘Sharks’, with the goal of securing funding in exchange for equity or debt in their companies.

Following the globally recognised Shark Tank format, the Nepali adaptation aims to not only provide local entrepreneurs with a significant opportunity to showcase their innovations but also to invigorate the country’s startup ecosystem. The show promises to be a catalyst for new business ventures and economic growth within Nepal.

Shark Tank Nepal will air on Himalaya Television from July 2 at 9:00 pm every Wednesday and Thursday, and will run for 20 episodes. The show will be uploaded on the official YouTube channel of Himalaya Television after 15 minutes of the show being broadcast on television.

Business 360 meets the five Sharks: Anand Bagaria, Cabinet Shrestha, Hem Raj Dhakal, Ritu Singh Vaidya and Saurabh Jyoti. Prominent figures in Nepal’s business landscape, they bring diverse skill sets and unique perspectives to the show. Audiences can look forward to seeing the sharks evaluate groundbreaking ideas, compete for the best deals, and invest. All this, while entrepreneurs with a good business proposition gain a real chance to turn their business dreams into reality.
Someone rightly said, Shark Tank is not a game show. It’s real life. It’s real investing, real money. And it reflects the real economy.

Positioned between two giant economies that are vying for top slot as world economic power, Nepal can either ride the growth wave with ingenuity, hard work, clear policies and good governance, or it can get caught up in the confusion of the new world economic order. 

The Sharks here are doers, thinkers, strategists and they have taken a good amount of risk to be on a show that clearly will either position them as successful investors and mentors, or just the regular business person who was possibly not ready enough to be the public persona that this show seeks. The show is riding on their ability to engage audiences and on the deck of pitches that the participants bring, all of whom have been through a rigorous selection process. 

The Sharks are excited about the possibilities that they are able to create. Those who have made successful bids are happy to have the mentorship and funding, and those who didn’t quite make it have nothing to complain about because they know that the exposure they have gained on national TV and the clarity they now have about their business idea will only land them on stronger ground in the days ahead.

 

For any business to survive and thrive in today’s fast-moving and dramatic environment, it is crucial to adapt to current trends. I see the pitches from the younger generation as a valuable learning opportunity, providing insights into new approaches and innovations that can be beneficial for established businesses as well.

– Anand Bagaria

What made you want to become a Shark? 

Anand Bagaria

My involvement in Shark Tank Nepal stems from a deeply personal connection to the entrepreneurial journey. As a first-generation entrepreneur myself, I recall receiving crucial support from angel investors when I was starting out. This foundational experience instilled in me a desire to reciprocate. I believe that by helping a few new people embark on their entrepreneurial paths, I am essentially paying back for the assistance I received, making my participation a personal mission rather than purely a business endeavour.

Cabinet Shrestha

I was drawn to Shark Tank Nepal because I saw it as a vital platform that effectively narrows the gap between aspiring entrepreneurs, budding startups and seasoned business investors. I view it as a significant opportunity for established business leaders like myself to interact with and gain insight into the dynamic landscape of young entrepreneurship emerging in the market. This direct engagement allows for a reciprocal learning experience, beneficial for both the investors and the innovators.

Hem Raj Dhakal

My decision to become a Shark is driven by a connection to entrepreneurship development in Nepal. I saw it as an invaluable opportunity to mentor young people and contribute to building up the business enterprise ecosystem within the country. My involvement is geared towards nurturing local talent and fostering a supportive environment for new ventures.

Ritu Singh Vaidya

I found the invitation to be a Shark a very interesting thing. For me, it was an opportunity that pushed me into a new domain, allowing me to observe the current trends in the industry, understand how people are thinking and planning, and discern the direction of industrial growth. I viewed it as something completely out of a box and a very good change from my usual engagements, indicating a personal interest in exploration and learning beyond conventional business activities.

Saurabh Jyoti

My participation in Shark Tank Nepal is deeply rooted in my personal commitment to promoting youth entrepreneurship. I have actively been involved with various organisations and startups, fostering a keen interest in developing the youth entrepreneurship landscape across Nepal. When presented with the opportunity to join Shark Tank Nepal, I was incredibly excited and honoured, recognising it as a direct alignment with my long-standing passion for nurturing new ventures within the country.

 

I highly value the opportunity to interact with diverse individuals and learn about the innovative ideas, creative approaches and untapped talent present in the market. It is about contributing to the ecosystem and witnessing the growth of new ventures.

– Cabinet Shrestha

As a Shark, what’s in it for you beyond investment returns? Are you looking for innovation, impact or something else?

Anand Bagaria

Beyond the direct investment returns, I find significant value in understanding the rapid changes occurring in technology and business. I emphasise that for any business to survive and thrive in today’s fast-moving and dramatic environment, it is crucial to adapt to current trends. I see the pitches from the younger generation as a valuable learning opportunity, providing insights into new approaches and innovations that can be beneficial for established businesses as well.

Cabinet Shrestha

For me, being a Shark transcends mere financial investment returns. My involvement is deeply rooted in promoting and fostering young entrepreneurs and startups within Nepal. I highly value the opportunity to interact with diverse individuals and learn about the innovative ideas, creative approaches and untapped talent present in the market. It is about contributing to the ecosystem and witnessing the growth of new ventures.

Hem Raj Dhakal

While acknowledging the importance of investment returns as an investor, I emphasise that my personal expectations go far beyond mere financial gains. I am primarily focused on the broader societal impact and positive change that my investments can bring about. This includes supporting initiatives that foster innovation and contribute to the well-being of the community.

Ritu Singh Vaidya

Beyond the financial returns of investments, I am primarily looking for great, novel ideas – those that I or others might never have conceived. More importantly, I seek out exceptional entrepreneurs who demonstrate integrity, unwavering focus and a strong desire to achieve significant goals in their lives. My aim is to collaborate with these individuals, joining hands to help them realise their ambitious visions.

Saurabh Jyoti

Beyond investment returns, I place immense importance on national impact. I believe that fostering entrepreneurship is crucial for wealth creation and job creation within the country. For me, a thriving entrepreneurial culture is the ultimate solution to counter extremist trends and ensure peace and stability, making it the only viable path for a nation’s progress. My involvement is therefore driven by a vision for a more prosperous and stable Nepal, achieved through economic empowerment and innovation.

 

By showcasing successful local ventures and inspiring young entrepreneurs, the platform helps build confidence in the domestic market. It demonstrates that there are viable and exciting opportunities for growth and development right here in Nepal, encouraging more individuals to pursue their entrepreneurial dreams locally.

- Hem Raj Dhakal

How do you see Shark Tank Nepal contributing to the growth of Nepal’s economy?

Anand Bagaria

I believe that the foremost contribution of Shark Tank Nepal to the country’s economy will be its ability to emphasise the critical need for a vibrant economic environment. By highlighting entrepreneurial ventures and their potential, the show can inspire greater economic activity. Once this foundational emphasis is established, the subsequent benefits, such as job creation and increased innovation, will naturally follow. The platform serves as a catalyst for a more dynamic economic landscape.

Cabinet Shrestha

I believe that Shark Tank Nepal, as a pioneering platform, significantly contributes to Nepal’s economic growth by opening new doors for its younger generation. This show provides a unique opportunity for young people and startups to directly interact with experienced business professionals (the five Sharks). This interaction allows them to showcase their products, services and ideas, receiving proper time and attention from all sharks to be heard and understood. This exposure and mentorship are crucial for fostering innovation and, consequently, job creation.

Hem Raj Dhakal

I believe that Shark Tank Nepal will contribute significantly to the economy by encouraging good business proposals and active participation from young entrepreneurs. I highlight that many young Nepalis who previously sought opportunities abroad are now being encouraged to consider opportunities within Nepal. The show serves as a platform to showcase their potential and the viability of local ventures, ultimately fostering job creation and innovation within the country.

Ritu Singh Vaidya

I believe that Shark Tank Nepal will be a wonderful change and serve as a crucial catalyst to start up the seed for the entrepreneurship in the society. I highlight that many people traditionally only seek jobs but this platform will educate society that entrepreneurship is a viable path. It demonstrates that one does not necessarily need to come from a business family or have pre-existing business ventures to become an entrepreneur. Individuals can come into the tank and initiate a business, fostering a culture of self-creation and innovation that ultimately contributes to job creation.

Saurabh Jyoti

I highlight that Shark Tank Nepal has already brought forth a multitude of innovative concepts. The show provides a unique platform for Nepali entrepreneurs to showcase their ideas and capabilities within their own country. This exposure helps them market their ideas effectively, attracting investments and creating a ripple effect of job opportunities. It serves as a powerful demonstration that Nepalis can generate wealth and create jobs domestically, fostering a sense of pride and capability within the nation.

 

Beyond the financial returns of investments, I am primarily looking for great, novel ideas – those that I or others might never have conceived. More importantly, I seek out exceptional entrepreneurs who demonstrate integrity, unwavering focus and a strong desire to achieve significant goals in their lives.

- Ritu Singh Vaidya

Many young Nepalis still look abroad for opportunities. Do you believe this platform can help reverse that trend by building confidence in local entrepreneurship?

Anand Bagaria

I offer a nuanced perspective on reversing the trend of young Nepalis seeking opportunities abroad. I question whether the sole aim should be to reverse this trend, suggesting instead a broader vision: to take Nepal globally and encourage viewing Nepal as an integral part of the global market. This perspective implies that while local entrepreneurship is vital, fostering a global mindset among Nepali businesses can create even greater opportunities, potentially attracting global talent and investment into Nepal, rather than just retaining local talent.

Cabinet Shrestha

Absolutely, I strongly believe this platform can help reverse the trend of young Nepalis seeking opportunities abroad. I have observed within the ‘tank’ that many individuals who had been abroad for extended periods have returned to Nepal and successfully launched highly creative and innovative ventures. The show also highlights many talented young people who might not otherwise be seen, showcasing their creative ideas. When these ideas take hold and flourish, they inherently create opportunities for others to participate or to be inspired to start their own businesses, making the platform highly effective in building local entrepreneurial confidence.

Hem Raj Dhakal

I believe that Shark Tank Nepal plays a crucial role in reversing the trend of young Nepalis going abroad for opportunities. By showcasing successful local ventures and inspiring young entrepreneurs, the platform helps build confidence in the domestic market. It demonstrates that there are viable and exciting opportunities for growth and development right here in Nepal, encouraging more individuals to pursue their entrepreneurial dreams locally.

Ritu Singh Vaidya

Absolutely, I firmly believe that Shark Tank Nepal can help reverse the trend of young Nepalis seeking opportunities abroad. I assert that it is essential to sow the seed of entrepreneurship into the society. My conviction is that once people realise they can leverage their time and skills to create something significant within Nepal, a multitude of possibilities will open up locally. This empowerment will reduce the sole reliance on seeking jobs elsewhere, thereby building confidence in local entrepreneurship.

Saurabh Jyoti

I strongly believe that Shark Tank Nepal acts as a significant eye-opener for young Nepalis who traditionally seek opportunities abroad. The show exhibits a diverse range of ideas from various sectors, demonstrating that wealth creation and job generation are entirely possible within Nepal. By showcasing successful local ventures, the platform instills confidence that individuals can learn in Nepal, earn in Nepal and contribute to the national economy, thereby encouraging them to pursue entrepreneurial endeavours domestically.

 

The show provides a unique platform for Nepali entrepreneurs to showcase their ideas and capabilities within their own country. This exposure helps them market their ideas effectively, attracting investments and creating a ripple effect of job opportunities. It serves as a powerful demonstration that Nepalis can generate wealth and create jobs domestically, fostering a sense of pride and capability within the nation.

- Saurabh Jyoti

What are some gaps or challenges you have observed in Nepali startups that need urgent attention, and how can shows like this help address them?

Anand Bagaria

I identify a fundamental challenge in the Nepali startup ecosystem as a need for a change in attitude. I stress that business needs to be ‘looked up upon’ rather than ‘looked down upon’, suggesting a cultural shift is required to fully embrace entrepreneurship. Shows like Shark Tank Nepal can contribute to this change by showcasing successful entrepreneurs and legitimate business ventures, thereby elevating the perception of business and inspiring a more positive attitude towards it within society.

Cabinet Shrestha

The primary gap I identify in Nepali startups is their adherence to the legalities of Nepal and maintaining financial discipline. I note that many entrepreneurs are very young and inexperienced, and they often are not particular about following national laws concerning financial and legal matters. Shows like Shark Tank Nepal can help address these challenges by exposing startups to experienced investors who can provide guidance and emphasise the importance of these foundational aspects of business.

Hem Raj Dhakal

I identify several challenges within the Nepali startup ecosystem. One significant issue is the difficulty in securing capital for businesses. Additionally, there is a need for more developed ideas and improvements in the legal framework governing startups. Shows like Shark Tank Nepal can address these by providing a platform for entrepreneurs to refine their ideas, connect with investors who can offer capital, and highlight the need for a more supportive legal and regulatory environment.

Ritu Singh Vaidya

The most urgent challenge I identify in the Nepali startup ecosystem is the need for entrepreneurs to fundamentally start thinking like an entrepreneur. I acknowledge that the entrepreneurial journey involves learning about legal and procedural matters. However, I stress that these are just a part of the process and entrepreneurs should not be afraid to simply jump in. Shows like Shark Tank can address this by demystifying the entrepreneurial process, showcasing that the initial leap is often the most crucial step, and inspiring confidence to navigate challenges as they arise.

Saurabh Jyoti

A significant challenge in Nepali startups is the lack of good governance. I believe that shows like Shark Tank Nepal can address this by not only connecting startups with Sharks but also with hundreds of other entrepreneurs and well-established business people who are eager to invest in new ideas. This creates a more progressive ecosystem, where experienced individuals can provide guidance and mentorship on sound business practices. The show itself fosters a national conversation about business ideas, entrepreneurship and wealth generation, acting as a catalyst for growth and development.

Nepal’s startup ecosystem is still quite young. What kind of support - beyond funding - do you think is crucial to help these startups grow sustainably?

Anand Bagaria

Beyond monetary support, which I consider merely a resource, I believe that the experience of industry stalwarts is crucial for young entrepreneurs. This involves providing guidance and mentorship that helps them navigate the often rigorous and complex system that has unfortunately been built around business in Nepal. The ability to steer through bureaucratic hurdles, legal frameworks and market complexities with the advice of experienced individuals is paramount for sustainable growth.

Cabinet Shrestha

Beyond funding, I believe that simplifying bureaucratic processes is crucial for sustainable growth. I point out that for a young or new person starting a business in Nepal, there are simply too many formalities and too many different ‘windows’ or departments to navigate. I suggest that if these processes could be streamlined, perhaps through a ‘one-window policy’ or by reducing the number of different types of taxes, it would significantly ease the burden on young startups. This simplification would create a much more conducive environment for new businesses to thrive.

Hem Raj Dhakal

Extensive mentoring is crucial for the sustainable growth of young minds and entrepreneurial ventures in Nepal. I believe that while funding is important, proper guidance and mentorship are essential for entrepreneurs to navigate challenges, understand the legal system, and effectively scale their businesses. This holistic support system, encompassing both financial and advisory aspects, is vital for long-term success.

Ritu Singh Vaidya

I must emphasise the critical need for support in navigating the entire procedural framework for startups. This includes establishing a clear legal framework and proper guidance on setting and achieving goals. Startups require assistance in defining their aims, strategising how to reach those aims and understanding what results to pursue. I advocate for a more calculated approach to the entire business process, which demands structured support in planning and execution beyond just financial injection.

Saurabh Jyoti

Beyond funding, mentorship and networking are absolutely crucial for the sustainable development of Nepal’s startup ecosystem. I believe that a robust network, coupled with consistent guidance from experienced individuals, can help startups navigate challenges and grow effectively. This holistic support system, integrating both financial backing and strategic advice, is essential for nurturing the nascent entrepreneurial environment in Nepal. 
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'Shark Tank provides an unparalleled platform for aspiring entrepreneurs to showcase ideas and secure investment'

Dharma Raj Bhusal

Chairman

Himalaya Television

Dharma Raj Bhusal, Chairman of Himalaya Television, began his entrepreneurial journey in 2006 by launching OnlineKhabar.com as a news startup while pursuing his Bachelor’s degree in Journalism and Mass Communication at Tribhuvan University. What started as a small endeavour with a few friends has since grown into one of Nepal’s largest newsrooms, employing over a hundred full-time correspondents.

In 2018, OnlineKhabar’s initiative led to the acquisition of Himalaya Television, a move many found unconventional for a digital medium to acquire a traditional one. Through Himalaya Television, Bhusal prioritised large-scale, world-renowned reality shows and sports events. The channel currently produces shows such as The Voice, The Voice Kids, Himalaya Roadies, Dancing with the Stars, and Nepal’s Next Top Model, and is set to broadcast the highly anticipated first season of Shark Tank Nepal. 

Himalaya Television has also successfully broadcast major sports events, including the 2022 FIFA World Cup, Everest Premier League, Pokhara Premier League, and Nepal Super League Football, establishing itself as Nepal’s most-watched television channel. 

In a recent conversation with Business 360, Bhusal shared his vision for Shark Tank Nepal, emphasising its ambition to foster entrepreneurship and innovation across the nation.

What inspired the decision to bring Shark Tank to Nepal, and how do you see it fitting into the country’s current business and media landscape?

We were working on many other foreign reality TV formats, most of which were related to dance, music, fashion and adventure. However, ‘Shark Tank’ was a show of a slightly different nature. In Nepal, the view towards entrepreneurship or business is somewhat dismissive. People do not look at entrepreneurs with respect. An entrepreneur establishes a business through difficult struggles, creates thousands of jobs, and pays taxes to the state, and the state runs on those very taxes. However, it felt to me that Nepali society has not been able to give due respect to entrepreneurship which should be honoured as the backbone of the country’s prosperity.

Shark Tank provides an unparalleled platform for aspiring entrepreneurs to present themselves on national television, spread their ideas and businesses, and secure investments. We felt that producing such a programme would contribute to promoting entrepreneurship in Nepal and that is why we acquired the Shark Tank franchise and started producing its Nepali version. We embarked on this not just as another TV programme or reality show, but because we believe it can significantly contribute to the development of entrepreneurship in Nepal.

What gap does Shark Tank Nepal aim to fill in Nepal’s startup ecosystem?

I see two main problems for those trying to venture into entrepreneurship with new ideas in Nepal. First, banks are not willing to invest in their concepts and instruments like venture capital and private equity are only just beginning to emerge. In such a situation, businesses seeking investment for growth have not been able to expand. Many startups have achieved good customer acquisition and built their brands, but they have not been able to make the leap for business expansion, primarily due to a lack of investment.

Second, young people working in these startups are learning on the go and there is a lack of people to guide or mentor them. As a result, most businesses are forced to shut down due to very common mistakes or weaknesses.

Shark Tank can be useful in solving both of these problems. Specifically, the Sharks invest in businesses with growth potential and also guide them through their experience and network. Even those who do not receive investment get the opportunity to present their brand and business model to millions of viewers, making it easier for them to acquire new customers and expand their network through television. The suggestions and guidance provided by the Sharks can help them advance their businesses in new ways.

Nepal’s economy is largely informal and many entrepreneurs struggle to scale. Will Shark Tank Nepal address this and support more structured, investment-ready businesses?

Shark Tank alone cannot do everything. To promote the startup ecosystem, the government must create corresponding policies, an investment ecosystem and financial tools. Through Shark Tank, we can contribute to the startup ecosystem by encouraging discussions about business ideas in society, celebrating the struggles and successes of entrepreneurs, and inspiring new ideas and ventures.

For those who get the opportunity to come into the Tank and pitch their business to the Sharks, it is a huge opportunity for brand visibility, network expansion and learning. By providing this platform to at least over a hundred entrepreneurs every year, we will be able to contribute to boosting Nepal’s startup ecosystem.

What kind of entrepreneurs and ideas are you hoping to spotlight through the show; are you looking mainly for tech-based solutions or a wider range of business models?

Undoubtedly, the use of technology in every sector is redefining and transforming businesses. However, we do not have a policy of prioritising only the technology sector. We have tried to include a very broad range of businesses in the show. You will see some technology ventures with innovative ideas but entrepreneurs from dozens of sectors, including agriculture, ready-made garments, hotels and restaurants, and food production, have also pitched their businesses.

We want businesses that have customers within Nepal, possess potential for scale, and can significantly contribute to the country’s economy as they expand in the future, to come to Shark Tank and utilise this platform.

Beyond funding, what kind of mentorship or follow-up support will the sharks or the show provide to ensure long-term success for the startups that are being featured?

At first glance, the objective of Shark Tank might seem to be solely about securing investment but the real value of Shark Tank lies in audience education and startup mentorship. The Sharks who invest in startups will not just provide capital. They will also offer mentorship for the expansion of that business, dedicate their time, and provide access to their established networks. For this, they will even open separate offices within their corporate premises and regularly follow up on the business’s growth. Once the programme is broadcast, the television’s involvement will end, and the direct collaboration between the Shark and the entrepreneur will begin. However, in future seasons, we will certainly showcase the growth stories of the companies that received investment.