Shark Tank Pakistan To Premiere on Green Entertainment in Sep 2024
Amid an economic crisis marked by volatile currency rates, soaring inflation, and arduous external debt, Pakistan’s start-up ecosystem is in dire need of support. With two-thirds of Pakistan’s 240 million people under 30, the country boasts one of the largest youth populations in the world. According to a 2019 UNDP report, 23% of young Pakistanis want to start their own businesses, a number which has probably risen in the past five years.
Pakistan’s startups have been rapidly extending across diverse sectors, including e-commerce, fintech, health tech, agritech, and edtech. Despite this growth, unprecedented challenges restrict Pakistani start-ups to flourish. Limited venture capital funding, high employee costs, reticence from international investors, and lowered consumer spending have made it difficult for start-ups to get the required resources. Moreover, the oligopolistic market structure worsens these challenges, creating a tough environment for new businesses.
Amidst this backdrop, Grenlit Studios has acquired the rights to the famous reality TV franchise, Shark Tank. Pakistan’s first Shark Tank series will go on-air in September 2024 on Green Entertainment. This series is anticipated to be a game-changer for the start-up ecosystem of Pakistan. Usman Malik, Rizwan Siddiqui, and Tariq Qazi are the founders of Shark Tank Pakistan.
Shark Tank Pakistan: A Catalyst for Start-Up Ecosystem and Content Revolution
Shark Tank debuted in the US in 2009. It is based on the Japanese series Dragon’s Den. Shark Tank invites entrepreneurs to pitch innovative business ideas to a panel of established investors (sharks). The show has received international acclaim, with successful adaptions in countries like Australia, Bangladesh, India, and the UK. The famous show’s format has democratized finance by providing a platform for various business owners to present their concepts and receive funding based on merit.
Grenlit Studios aims to recount this success in Pakistan. The show is tipped to improve Pakistan’s start-up scene by showcasing local entrepreneurial talent and restoring the Pakistab’s content landscape. Malik, a content licensing specialist, underscored the rarity of a standalone content company acquiring a global franchise license. He stated:
If executed correctly, Shark Tank Pakistan can concurrently ameliorate the content landscape of our TV industry, a landscape international media companies have been hesitant to scale into.
Shark Tank Pakistan will feature a panel of six investors, including two female sharks, to ensure diverse representation and perspectives. Notable sharks include Rabeel Warraich, founder of Sarmayacar; Aleena Nadeem of Ventura Capital; Junaid Iqbal, CEO of Salt Ventures; Karim Teli, a successful business leader; Faisal Aftab, an IT venture investor; Romana Dada, a Forbes-featured entrepreneur; and Usman Bashir, a veteran of retail and gas stations.
TikTok will be the official entertainment partner of Shark Tank Pakistan, leveraging its vogue among Gen Z and Millennials to entertain the young Pakistani audience. The show is set to begin filming in July and will air in September 2024 on Green Entertainment. So, are you guys excited? Do share in the comment section.
