Every entrepreneur in this world dreams of making their company successful and converting it into a unicorn and reality shows like Shark Tank India have not only given them a platform to shape their business but it has also encouraged them to be an inspiration for other people. A lot of entrepreneurs and business owners took part in this reality show as a contestant and they went back with amazing deals for their brands.
In an episode of the popular Indian reality show Shark Tank India, an entrepreneur from Bengaluru had presented his startup named Scholify but unfortunately he wasn’t able to convince the sharks and had to go back without any deal.
The founder of Scholify, Mayank pareek, has created an app that helps the students apply for suitable scholarship programmes easily and in exchange of 7.5 percent equity of his company, he asked for Rs 50 lakh from the judges aka sharks. The video clip of this pitch was uploaded on the official account of Sony TV recently.
At the start of the pitch, the chief of shaadi.com, Shark Anupam Mittal, said that after a long time he is seeing something different; however, after a few minutes he got disappointed with Pareek’s business model and decided to step out of the deal. Mayank Pareek added that his purpose is different and so he doesn’t want to create a lending company.
As the conversation moves forward, Mayank opened up about his earnings and said that till now he has successfully provided scholarships to 2,200 students but he hasn’t earned a single penny till date. None of the sharks were interested in this deal as there was no business at all. Mayank Pareek was just doing charity whereas, Shark Tank India is a place for people who want to scale their business.
The co- founder and former managing director of BharatPe, Ashneer Grover, further added to the conversation as he said that Mayank Pareek doesn’t have the qualities and abilities to become an entrepreneur and he told Pareek “Tere se na ho payega”.