Sabeer Bhatia, the founder of Hotmail, plans to support one million startups through “Dolphin Tank”
- ByStartupStory | March 7, 2023
Showreel, the short-video platform founded by Sabeer Bhatia in 2020, is being revamped to support one million idea-stage startups in India through a show similar to Shark Tank. Bhatia, known for founding Hotmail and selling it to Microsoft for $500 million in 1997, is leading this initiative.
Showreel, a platform that enabled users to create short videos to connect with various opportunities including job seekers with potential employers, founders with venture capitalists, and brides and grooms, is being overhauled to prioritise an investment show.
The decision to pivot was driven by low user traction. Showreel is currently employing around 12 people in India and 5 at its US headquarters.
Bhatia explained that all the pitches made on Showreel will be reviewed to identify the suitable companies for a new television show that they are developing. “While the show will differ from Shark Tank, Bhatia likened it to a “Dolphin Tank”.
Bhatia is in discussions with various wealth funds to establish a fund that will support startups in the idea stage.
The fund will provide funding ranging from Rs 2 lakh to Rs 5 lakh and will offer guidance to founders in areas such as team development and identifying product market fit. Additionally, the program will include mentoring and other resources to assist startups in their early stages.
Bhatia is considering the possibility of hosting the show on a streaming platform, as it is aimed at a younger demographic, and digital channels tend to attract a relatively youthful audience.
Bhatia is an advocate of original concepts and remarked that they are not interested in funding ideas that are copies of existing ones. Rather, they are keen to support ideas that have the potential to become the next Uber or Google, innovative and groundbreaking ideas that have the potential to transform industries.
Bhatia’s goal for the show is to inspire young entrepreneurs to think creatively and come up with unique ideas. He believes that many startups in India are unremarkable, but he regards Zerodha as an exception.
Bhatia appreciates Zerodha’s originality, citing its “innovative platform that allows people to trade as a problem-solving solution”. For him, the primary motivation for starting a company is to address a challenge, and Zerodha’s approach exemplifies that mindset.
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