7 fast Shark Tank facts

2016-07-27 06:00

Johannesburg - Over the years, M-Net has brought many riveting reality television show formats to our shores – from Big Brother and Idols to MasterChef, Survivor, and The Voice

Up next is the local version of Shark Tank, a show that many South Africans might not be that familiar with - yet! 

Budding local entrepreneurs who want to make a splash in the cutthroat world of business have until 31 July to enter Shark Tank South Africa. 

If they have what it takes, they will be able to pitch their business idea, product, plan or invention to five business moguls, also known as “Sharks”. If the Sharks like what they hear, they will open up their own purses to bankroll these dreams into reality. 

More about the show:

- Shark Tank actually originated in Japan, and was originally a format called Money Tigers. Producer Mark Burnett then adapted into Shark Tank for American audiences. To date, there have been eight US seasons of this popular show. 

- It’s been speculated that it is statistically harder to get into the US version of Shark Tank than being accepted to Harvard University.

- The simplest ideas often make the most money. While many entrepreneurs in the US version came into the Tank with ideas for apps or tech products, the simplest consumer goods have seen the most success inside the Shark Tank and also in the American marketplace. American Shark Lori Greiner once said, “If you have one genius product and good entrepreneurs, you can turn that one product into a huge success.”

- Shark Tank often gives entrepreneurs a valuable boost even if they don’t end up cutting a deal with the Sharks, due to the exposure that brands receive just by being on prime time television.

- Ashton Kutcher appeared as a guest Shark in the first episode of the US’s seventh season, and turned out to be a formidable investor.

- Shark Tank has been made in many different territories in the world, including Australia, Portugal and Italy. The British version of the series, Dragon’s Den, has also been popular around the world with adaptations in numerous countries.

- Apart from having won two Emmy awards for Outstanding Structured Reality Programme, Shark Tank USA has also been on the receiving end of three Critic’s Choice Awards.

How to enter:

You can enter more than one business idea to get onto Shark Tank SA. Simply visit www.mnet.tv/sharktank to submit your 60 second video pitch!

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