Anupam Mittal: Shark Tank founders outshine IIT, IIM alumni
- ByStartupStory | February 16, 2024
The startup landscape in India is undergoing a transformation, challenging the dominance of founders with prestigious degrees from Ivy League or IIT backgrounds. Anupam Mittal, the CEO of People Group and a seasoned investor, emphasizes the shift: “The show has become a catalyst for driving entrepreneurship and giving legitimacy to entrepreneurial dreams.” Shark Tank, a reality show showcasing aspiring entrepreneurs, has ignited this change since its debut in December 2021, demystifying startup culture and funding dynamics.
Mittal highlights the unique trait of Shark Tank participants, contrasting them with the traditional elite: “The participants who come on the show are not entitled IIT or IIM passouts.” These entrepreneurs hail from diverse backgrounds, understanding the intricacies of business and the pulse of the population. Mittal believes they possess an advantage over their elite counterparts: “Many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM.”
This shift reflects a broader societal change, where entrepreneurship is gaining parity with conventional career paths. Mittal reminisces about a time when entrepreneurship lacked societal approval: “A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious.” However, Shark Tank has helped elevate the status of entrepreneurship, celebrating it as a viable career choice.
India’s startup ecosystem, once dominated by small businesses, now embraces entrepreneurship as a mainstream pursuit. The show has propelled entrepreneurship from stigma to stardom, providing a glamorous platform for aspiring founders. Mittal underscores the significance of this cultural shift: “The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem.”
As India witnesses the rise of unicorns and a surge in entrepreneurial aspirations, Mittal warns of potential pitfalls: “Out of the 100 unicorns in India, many will fail in 2024 as they were built on the wrong foundations.” He emphasizes the importance of sustainable growth and robust business fundamentals in ensuring long-term success.
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