1 00:00:22,640 --> 00:00:24,800 [theme music playing] 2 00:00:37,200 --> 00:00:39,160 [theme music playing] 3 00:01:02,560 --> 00:01:05,480 - Hello, Sharks! My name is Sanjay Modi. - Hi! 4 00:01:11,880 --> 00:01:15,720 One day, I went to buy an English literature book 5 00:01:15,840 --> 00:01:18,120 for my sister. 6 00:01:18,200 --> 00:01:19,800 She was in second grade. 7 00:01:19,880 --> 00:01:22,760 - That book was for Rs. 1,600. - Oh my God! 8 00:01:23,080 --> 00:01:26,040 I belong to a middle-class family. 9 00:01:26,200 --> 00:01:30,240 Back then I didn't have enough money to afford it. 10 00:01:30,560 --> 00:01:33,800 So, I couldn't buy it 11 00:01:33,920 --> 00:01:36,320 and went home without buying a book that day. 12 00:01:36,840 --> 00:01:39,960 And then, I did some research on this market. 13 00:01:40,240 --> 00:01:43,920 That is when I realised that the secondhand books... 14 00:01:44,040 --> 00:01:46,200 Either the second-hand books are not available, 15 00:01:46,280 --> 00:01:48,000 or even if they are available, 16 00:01:48,120 --> 00:01:51,760 the shopkeeper has added his commission to it. 17 00:01:51,920 --> 00:01:54,800 Because of which the cost of that book has gone up. 18 00:01:57,080 --> 00:02:00,680 Sharks, my dad has been an ex-entrepreneur. 19 00:02:00,760 --> 00:02:04,040 He has had a bad experience in entrepreneurship, 20 00:02:04,120 --> 00:02:06,280 so he wants me to get a job 21 00:02:06,360 --> 00:02:08,520 instead of taking this journey. 22 00:02:08,800 --> 00:02:13,040 So, I asked for 6 months from him. 23 00:02:13,120 --> 00:02:16,280 I have to make this profitable within 6 months, 24 00:02:16,400 --> 00:02:20,480 otherwise, I will have to do what he has asked me to do. 25 00:02:20,640 --> 00:02:22,200 So... 26 00:02:22,600 --> 00:02:23,960 It's fine. Take your time. 27 00:02:24,040 --> 00:02:26,440 Lock the deal soon... 28 00:02:26,520 --> 00:02:28,640 [laughing] 29 00:02:28,720 --> 00:02:29,920 I am on a tight deadline. 30 00:02:33,200 --> 00:02:35,320 - What is your ask? - Sorry. 31 00:02:35,440 --> 00:02:36,280 - It's okay. - It's fine. 32 00:02:36,400 --> 00:02:38,480 Also, tell us more about the business if you want to. 33 00:02:38,600 --> 00:02:41,920 Sanjay, take your time. It's okay. We can also start from the start. 34 00:02:42,080 --> 00:02:42,920 This is not a test. 35 00:02:43,040 --> 00:02:46,240 Talk to us as your friend and tell us about what NearBook does. 36 00:02:46,320 --> 00:02:47,240 As a friend? 37 00:02:47,320 --> 00:02:48,640 - Yes, a friend. - Exactly! 38 00:02:48,760 --> 00:02:49,880 We are all friends. 39 00:02:50,480 --> 00:02:52,440 Yes! Stretch a little. 40 00:02:53,120 --> 00:02:55,200 - Yes! If you want to punch, punch him. - Yes, very good! 41 00:02:55,200 --> 00:02:57,680 - So sweet. - Come and punch him. 42 00:03:00,120 --> 00:03:02,280 NearBook is a platform 43 00:03:02,360 --> 00:03:06,280 where we can sell our old books 44 00:03:06,400 --> 00:03:08,600 and buy them if we want to. 45 00:03:13,280 --> 00:03:16,720 We are India's fastest-growing classified marketplace. 46 00:03:20,840 --> 00:03:24,880 So, I need your help and guidance to take it global. 47 00:03:24,960 --> 00:03:28,560 For that, my ask is Rs. 40 lakhs for 20%. 48 00:03:29,440 --> 00:03:32,040 So, finalise the deal quickly. 49 00:03:32,640 --> 00:03:34,640 - I am in a tight spot. - I am in a tight spot, it seems. 50 00:03:34,640 --> 00:03:39,040 Okay! Sanjay, welcome to Campus Special 51 00:03:39,280 --> 00:03:41,560 - of Shark Tank India. - Thank you, sir. 52 00:03:41,680 --> 00:03:44,560 You were nervous, but your comeback was strong. 53 00:03:44,640 --> 00:03:46,160 You said you are all friends. 54 00:03:46,240 --> 00:03:49,000 - We are friends. You have five friends. - That's sweet. 55 00:03:49,200 --> 00:03:52,080 So, Sanjay, tell us about you. 56 00:03:52,160 --> 00:03:54,040 Are you in school? 57 00:03:54,160 --> 00:03:56,880 I am doing my third year in BCA 58 00:03:57,360 --> 00:03:59,600 from Jai Narain Vyas University, Jodhpur. 59 00:03:59,680 --> 00:04:01,640 Is this the first business you attempted? 60 00:04:01,720 --> 00:04:03,720 Or did you have other ideas in your mind in the past? 61 00:04:03,720 --> 00:04:05,400 I've tried a few times. 62 00:04:05,520 --> 00:04:07,720 At what age did you start? 10-15 years? 63 00:04:07,840 --> 00:04:09,720 - 12 years? - I aspired to be an entrepreneur 64 00:04:09,840 --> 00:04:11,000 when I was in the 8th grade. 65 00:04:11,840 --> 00:04:13,320 What was your first idea? 66 00:04:13,480 --> 00:04:15,280 Biscuit cup. 67 00:04:15,360 --> 00:04:18,680 A cup where we can pour tea 68 00:04:18,760 --> 00:04:22,480 and as we drink it, we can eat biscuits. 69 00:04:22,560 --> 00:04:24,360 I did submit it at DreamDeal. 70 00:04:24,440 --> 00:04:26,640 Yes, that's right. 71 00:04:26,720 --> 00:04:28,680 And I went to DreamDeal for this idea too. 72 00:04:39,000 --> 00:04:41,080 - He is running his private Shark Tank. - Very good. 73 00:04:41,160 --> 00:04:42,320 We know now. 74 00:04:42,400 --> 00:04:45,080 - No, I don't take equity. It's just a grant 75 00:04:45,200 --> 00:04:48,400 - so that you can go from zero to one and create a prototype. - Right. 76 00:04:48,480 --> 00:04:51,000 - I was selected in the Top 30. - Lovely! 77 00:04:51,080 --> 00:04:52,960 - Good! - For which idea? 78 00:04:53,080 --> 00:04:54,600 - For NearBook. - Oh! 79 00:04:57,360 --> 00:04:58,560 In 2020. 80 00:05:07,000 --> 00:05:09,080 [laughing] 81 00:05:09,160 --> 00:05:12,360 Sanjay, you shared something very interesting in your pitch. 82 00:05:12,560 --> 00:05:13,760 - Yes, ma'am. - That your dad... 83 00:05:17,440 --> 00:05:21,320 What happened that he became so protective of you? 84 00:05:21,400 --> 00:05:25,280 He used to live in Mumbai. 85 00:05:25,400 --> 00:05:27,360 This was before I was born. 86 00:05:27,440 --> 00:05:29,320 He was managing a company here, 87 00:05:29,400 --> 00:05:32,560 but he faced fraud or something went wrong. 88 00:05:32,640 --> 00:05:35,920 - Because of that, we were in a bad financial state. - Hmm! 89 00:05:36,000 --> 00:05:40,960 So, he returned and started farming. 90 00:05:41,160 --> 00:05:44,760 Currently, he is working in Chennai. 91 00:05:44,840 --> 00:05:48,280 He is a manager in a private Jain trust. 92 00:05:48,360 --> 00:05:51,120 - And you are in Rajasthan... - Sanchore. 93 00:05:51,240 --> 00:05:54,080 Sanchore. You are currently in a hostel in Jodhpur. 94 00:05:54,160 --> 00:05:55,800 That is an affiliated college. 95 00:05:55,880 --> 00:05:58,240 Okay! You live with your mom and sister. 96 00:05:58,320 --> 00:06:00,280 Yes, my mom, sister and brother. 97 00:06:00,360 --> 00:06:02,680 Tell me how NearBook works. 98 00:06:02,760 --> 00:06:04,200 Can I show you a demo? 99 00:06:04,280 --> 00:06:05,360 - Show us a demo. - Please do. 100 00:06:05,400 --> 00:06:06,400 Thank you. 101 00:06:07,680 --> 00:06:09,880 This is the interface of our app. 102 00:06:10,320 --> 00:06:13,280 Our most used feature is Sell Book. 103 00:06:13,400 --> 00:06:16,280 Because everyone wants to sell the book and make money. 104 00:06:16,520 --> 00:06:18,880 - Sanjay, did you create this app yourself? - No! 105 00:06:18,960 --> 00:06:21,400 Who did you get it made from? An agency? 106 00:06:22,280 --> 00:06:23,520 Someone who does moonlighting... 107 00:06:23,520 --> 00:06:25,440 - A freelancer. - How much did you pay? 108 00:06:25,760 --> 00:06:29,120 - I got it made for free. I didn't have money. - Well done. 109 00:06:29,240 --> 00:06:31,640 They helped me because it is a social impact startup. 110 00:06:31,760 --> 00:06:33,240 How did you find him? 111 00:06:33,360 --> 00:06:34,520 Through LinkedIn. 112 00:06:34,600 --> 00:06:38,200 You went on their LinkedIn profile and dropped a message. 113 00:06:38,280 --> 00:06:39,920 I dropped a message to all of you as well. 114 00:06:40,040 --> 00:06:41,840 - Okay! - I was rejected by many. 115 00:06:41,920 --> 00:06:43,920 - All right. - One of them agreed to help. 116 00:06:44,040 --> 00:06:46,560 - We also became friends. - Really? 117 00:06:46,680 --> 00:06:50,000 He is the one who pays the server cost. 118 00:06:50,080 --> 00:06:53,320 - Wow! - What does he or she do? Who is so kind? 119 00:06:53,400 --> 00:06:55,960 He is too good. I can't take his name. 120 00:06:56,040 --> 00:06:58,160 - He works for a company. - Okay. 121 00:06:58,280 --> 00:06:59,920 - They will fire him. - Whoever he is, 122 00:07:00,000 --> 00:07:03,400 - thank him on our behalf. - He is too good. 123 00:07:03,520 --> 00:07:05,120 He is doing a good job by... 124 00:07:05,200 --> 00:07:07,080 I wouldn't have come so far without him. 125 00:07:07,160 --> 00:07:09,400 Why not, Sanjay? You are 20 years old. 126 00:07:09,800 --> 00:07:13,720 According to me, a 20-year-old boy can do anything. 127 00:07:13,800 --> 00:07:15,240 So, why didn't you learn coding? 128 00:07:15,320 --> 00:07:17,440 It has become so easy to make a website. 129 00:07:17,520 --> 00:07:18,920 Did you try that? 130 00:07:19,000 --> 00:07:21,040 Yes, I did. The front 131 00:07:21,120 --> 00:07:23,160 - and many features were made by me. - Okay, you did. 132 00:07:23,160 --> 00:07:25,920 - Very good. - I helped them and I created the website. 133 00:07:31,960 --> 00:07:33,920 to make a product for you free of cost. 134 00:07:34,040 --> 00:07:36,200 I am good at convincing people. 135 00:07:36,320 --> 00:07:38,520 You will see how I crack the deal today. 136 00:07:38,600 --> 00:07:39,680 Oh! 137 00:07:39,800 --> 00:07:41,040 Well said. 138 00:07:41,120 --> 00:07:42,200 You have full confidence. 139 00:07:42,280 --> 00:07:43,800 - Show us the demo. - Let's see the demo. 140 00:07:43,840 --> 00:07:47,520 Our app's interface is simple. 141 00:07:48,000 --> 00:07:52,520 The user who has to sell the book will click on Sell Now. 142 00:07:53,320 --> 00:07:55,120 They click on the camera. 143 00:08:03,160 --> 00:08:06,160 - Well done. - We have to select the category. 144 00:08:06,560 --> 00:08:10,880 After that, you need to enter the price at which you want to sell it. 145 00:08:10,960 --> 00:08:15,120 For example, if I want to sell it for Rs. 50 and then post it. 146 00:08:15,360 --> 00:08:17,760 Tell me something. Shouldn't that happen automatically? 147 00:08:17,880 --> 00:08:21,960 The category should automatically be filled once the photo is clicked. 148 00:08:22,280 --> 00:08:23,720 That's what we have planned for our next update. 149 00:08:23,720 --> 00:08:25,080 Got it. Move on. 150 00:08:25,160 --> 00:08:27,440 But while uploading the book, 151 00:08:27,520 --> 00:08:29,560 don't you ask what state the book is in? 152 00:08:29,680 --> 00:08:31,400 The buyer does that. 153 00:08:31,480 --> 00:08:33,480 You know how Indian buyers are. 154 00:08:33,560 --> 00:08:36,400 They want brand new stuff even for Rs. 50. 155 00:08:36,520 --> 00:08:37,840 New stuff! 156 00:08:41,960 --> 00:08:44,800 the state of their book is in a very good condition 157 00:08:44,880 --> 00:08:48,200 or sightly poor? This feature exists in used marketplaces. 158 00:08:48,280 --> 00:08:50,920 Right! But the listing time goes up if we do that. 159 00:08:51,000 --> 00:08:54,400 Our average listing time is around 10 seconds. 160 00:08:54,480 --> 00:08:57,160 In the past, it was around 2 to 2.5 minutes. 161 00:09:01,680 --> 00:09:04,280 You can edit the book in the My Book section. 162 00:09:04,720 --> 00:09:08,280 If you sold your book, you can click Mark As Sold. 163 00:09:08,440 --> 00:09:12,240 This is a classified marketplace, we don't interfere a lot. 164 00:09:12,560 --> 00:09:14,560 Other than this, our main feature, 165 00:09:14,640 --> 00:09:17,400 which is our USP, is Nearby Books. 166 00:09:18,720 --> 00:09:20,480 When the user chooses this, 167 00:09:20,560 --> 00:09:23,120 they get to see books on sale nearby, 168 00:09:23,240 --> 00:09:24,880 that too in ascending order. 169 00:09:26,840 --> 00:09:28,960 If someone has listed a book that is 100 meters away. 170 00:09:29,040 --> 00:09:32,400 Someone is willing to give the book for free. It's for Rs. 0. 171 00:09:32,480 --> 00:09:35,200 Yes! You can also donate the book. 172 00:09:35,320 --> 00:09:37,800 - You can also give the book for rent. - Okay. 173 00:09:42,520 --> 00:09:45,800 - They don't have a 'Nearby' feature. - Right! 174 00:09:45,960 --> 00:09:48,000 Why is it so important for you? 175 00:09:48,520 --> 00:09:50,080 This is the vision 176 00:09:50,400 --> 00:09:52,040 and the name of our app is NearBook. 177 00:09:52,160 --> 00:09:54,840 We want to connect in the nearby community. 178 00:09:54,960 --> 00:09:57,560 - How much percent? - You save on your transportation costs. 179 00:09:57,680 --> 00:09:59,680 - Correct! - We don't transport anything. 180 00:09:59,760 --> 00:10:01,000 People take it from each other. 181 00:10:01,040 --> 00:10:02,560 It is not couriered. 182 00:10:02,640 --> 00:10:04,840 - Exactly! - They have to personally go and collect. 183 00:10:05,320 --> 00:10:08,320 Sanjay, the payment doesn't take place through the platform. 184 00:10:08,440 --> 00:10:10,040 We just connect them. 185 00:10:10,120 --> 00:10:12,760 They deal with the payment offline. 186 00:10:16,160 --> 00:10:19,760 What will your business model be ultimately? Premium listings? 187 00:10:20,200 --> 00:10:21,640 No! Advertisement. 188 00:10:21,720 --> 00:10:23,320 You will make money from advertisements. 189 00:10:23,440 --> 00:10:26,920 This already exists. 190 00:10:27,040 --> 00:10:28,480 There is a company called Craigslist. 191 00:10:28,520 --> 00:10:30,200 Craigslist started in the US. 192 00:10:30,280 --> 00:10:34,080 Through classifieds, buying and selling had started. 193 00:10:34,160 --> 00:10:35,560 There was Quikr in India. 194 00:10:36,200 --> 00:10:39,160 But they couldn't make it a profitable business. 195 00:10:39,560 --> 00:10:43,000 Did you study where they failed and why? 196 00:10:43,560 --> 00:10:46,920 Yes, I did and I was disappointed. 197 00:10:47,000 --> 00:10:48,560 [laughing] 198 00:10:48,640 --> 00:10:50,480 Their investors were also disappointed. 199 00:10:50,600 --> 00:10:51,960 Why were you disappointed? 200 00:10:52,080 --> 00:10:53,240 Because it didn't work. 201 00:10:53,360 --> 00:10:56,160 But this is my vision. I am doing it and I will do it! 202 00:10:56,240 --> 00:10:57,960 No, that wasn't my question. 203 00:10:58,880 --> 00:11:00,360 I am asking how you will do it. 204 00:11:00,440 --> 00:11:03,120 They couldn't make it. Where did they go wrong 205 00:11:03,440 --> 00:11:04,640 and how will you make it work? 206 00:11:05,360 --> 00:11:08,160 I am working on many revenue models. 207 00:11:08,240 --> 00:11:11,080 I have not decided on one thing yet. 208 00:11:11,160 --> 00:11:14,040 It's time to pivot now. 209 00:11:14,200 --> 00:11:17,560 I try a lot of things and I fail. 210 00:11:17,680 --> 00:11:19,240 I change it and try it again. 211 00:11:19,320 --> 00:11:20,960 I am learning. 212 00:11:21,040 --> 00:11:23,040 Sanjay, the most important thing in marketplaces... 213 00:11:25,320 --> 00:11:29,240 - Yes! - How to build trust between buyer and seller? 214 00:11:29,320 --> 00:11:31,920 In a way, the marketplace builds trust. 215 00:11:32,160 --> 00:11:33,960 If you are a buyer, 216 00:11:34,040 --> 00:11:36,000 you buy on the platform. 217 00:11:36,120 --> 00:11:38,040 The platform holds the payment. 218 00:11:38,800 --> 00:11:41,320 Once the buyer receives the product, 219 00:11:41,480 --> 00:11:43,920 that payment is released to the seller. 220 00:11:44,400 --> 00:11:46,240 - But you are not doing that. - We are not. 221 00:11:46,400 --> 00:11:49,800 Then how will you build trust on the platform? 222 00:11:50,320 --> 00:11:52,920 Ah... That's a good question. 223 00:11:53,280 --> 00:11:54,600 [laughing] 224 00:11:57,160 --> 00:11:58,880 You can also say 225 00:11:58,960 --> 00:12:01,200 that my job is not to create trust. 226 00:12:01,320 --> 00:12:05,080 I can't say that, because that is my job. 227 00:12:05,160 --> 00:12:08,960 I want the user to have a safe experience. 228 00:12:09,680 --> 00:12:11,880 There have been scams in the past. 229 00:12:11,960 --> 00:12:13,360 Give me an example. 230 00:12:13,480 --> 00:12:15,800 Someone asked... 231 00:12:15,880 --> 00:12:18,120 - Pay and I will send the book. - Yes, and the user paid. 232 00:12:18,240 --> 00:12:20,160 - And he didn't get the book. - He lost the money. 233 00:12:20,200 --> 00:12:23,320 But we've taken precautions. 234 00:12:23,560 --> 00:12:25,200 We have given a disclaimer. 235 00:12:34,600 --> 00:12:36,960 But the problem is, people don't read them. 236 00:12:37,840 --> 00:12:40,480 This might not help create trust. 237 00:12:40,880 --> 00:12:45,040 To create trust, I am doing this for the first time. 238 00:12:45,120 --> 00:12:47,240 There are a lot of things I did wrong. 239 00:12:47,360 --> 00:12:48,920 After that, we made a few changes. 240 00:12:49,000 --> 00:12:51,920 For example, you can report a suspicious book. 241 00:12:52,000 --> 00:12:54,840 We get the report and we delete it. 242 00:12:55,000 --> 00:12:58,800 So, as of now, until you figure out how to create trust, 243 00:12:58,880 --> 00:13:02,320 you will not charge a transaction fee, right? 244 00:13:02,440 --> 00:13:03,280 You are right. 245 00:13:03,400 --> 00:13:06,360 What success have you envisioned for yourself? 246 00:13:06,440 --> 00:13:08,320 If, in the next 6 months, 247 00:13:08,320 --> 00:13:10,840 you achieve this, then you'll consider yourself successful. 248 00:13:10,960 --> 00:13:12,640 You mentioned you'll be profitable. 249 00:13:12,720 --> 00:13:15,840 To reach that, you'll need to start advertising soon. 250 00:13:15,960 --> 00:13:19,880 So, what have you thought about that? How and when will you do it? 251 00:13:20,200 --> 00:13:24,440 Our power month is March and April. 252 00:13:24,560 --> 00:13:26,440 The user visits once a year 253 00:13:26,560 --> 00:13:28,600 when they have to sell the book. 254 00:13:28,680 --> 00:13:30,520 - When the school starts. - He is talking about 255 00:13:30,640 --> 00:13:31,760 - academic books. - Yes, academic books. 256 00:13:31,760 --> 00:13:34,200 Most of the users are students. 257 00:13:34,280 --> 00:13:36,760 - Okay! Mostly academic books. - Mostly! 80% and 20%. 258 00:13:36,880 --> 00:13:38,640 - 20% are bibliophiles. - Okay! 259 00:13:38,760 --> 00:13:42,000 The last few months... In March and April, 260 00:13:42,160 --> 00:13:46,840 we had more than 5 lakh downloads during that time. 261 00:13:47,640 --> 00:13:50,200 Because we went viral on social media. 262 00:13:50,280 --> 00:13:54,080 - Wow! - We had more than 50 million social impressions on social media. 263 00:13:58,000 --> 00:14:00,280 Yes, I submitted the reels. 264 00:14:00,400 --> 00:14:02,080 If you did, we can play it here. 265 00:14:03,080 --> 00:14:05,200 [music playing] 266 00:14:05,680 --> 00:14:06,680 'What are you doing?' 267 00:14:06,760 --> 00:14:08,920 'I gave my exams, these books are of no use to me now.' 268 00:14:08,920 --> 00:14:11,960 'You give him water and I'll tell you where to sell them.' 269 00:14:12,240 --> 00:14:14,640 'You can sell these books for the price you want.' 270 00:14:14,720 --> 00:14:15,520 - Wow! - How? 271 00:14:15,600 --> 00:14:19,080 'Look, you have to download the app and scan the barcode of the book.' 272 00:14:19,160 --> 00:14:22,000 'You have to enter the details and the MRP of the book.' 273 00:14:22,080 --> 00:14:24,200 'Also mention the condition of the book and selling options. 274 00:14:24,240 --> 00:14:26,480 'And then, mention the price you want to sell it for.' 275 00:14:26,560 --> 00:14:29,440 Once the book is picked up, you will be given the cash.' 276 00:14:29,520 --> 00:14:32,680 - Amazing! - You had the feature to choose the condition of the book. 277 00:14:32,800 --> 00:14:35,200 That was no longer there. Did you take it out? 278 00:14:35,760 --> 00:14:38,680 That was there in the past. 279 00:14:38,800 --> 00:14:39,680 But it is not there now. 280 00:14:39,760 --> 00:14:43,080 Earlier there was a feature to mention the condition of the book. 281 00:14:43,160 --> 00:14:44,920 - We did. - And MRP 282 00:14:45,000 --> 00:14:46,920 - and offer price. - There were a lot of details. 283 00:14:46,960 --> 00:14:49,200 But that increases the time of listing. 284 00:14:49,280 --> 00:14:51,320 - That was around 2.5 minutes. - Yes. 285 00:14:51,400 --> 00:14:53,280 - You had to bring it down to 10 seconds. - Yes. 286 00:14:53,440 --> 00:14:57,200 How many people do you think could buy the books 287 00:14:57,400 --> 00:14:59,800 using your platform in the past 4 years? 288 00:14:59,880 --> 00:15:02,440 40,000 people have sold the books. 289 00:15:02,520 --> 00:15:03,640 It has to be more than that. 290 00:15:03,720 --> 00:15:04,720 Yes. 291 00:15:06,000 --> 00:15:09,760 Your benefactor, who shall not be named, 292 00:15:10,360 --> 00:15:11,840 how much has he spent? 293 00:15:12,880 --> 00:15:14,000 Around Rs. 6 lakhs. 294 00:15:14,080 --> 00:15:17,200 - Oh! - Rs. 6 lakhs. How much more will he give and by when? 295 00:15:17,280 --> 00:15:19,040 Does he have a cut-off 296 00:15:19,120 --> 00:15:21,200 - or is it unlimited? - He hasn't given me a cut-off. 297 00:15:21,760 --> 00:15:23,120 So, is this unlimited? 298 00:15:23,200 --> 00:15:24,520 I can't say that. 299 00:15:24,640 --> 00:15:27,040 I want... That's why I want it to be profitable. 300 00:15:27,160 --> 00:15:28,840 Everyone wants to make their business profitable. 301 00:15:28,880 --> 00:15:30,960 But it is not so easy. 302 00:15:31,040 --> 00:15:33,360 For that, you need to find the product-market fit. 303 00:15:33,440 --> 00:15:37,280 It might take 3 months, 6 months or 2 years. 304 00:15:37,400 --> 00:15:38,960 We don't know that now. 305 00:15:39,040 --> 00:15:41,640 If you get funding, will your dad lift the deadline, 306 00:15:41,720 --> 00:15:44,160 or will he still ask you to make it profitable in six months? 307 00:15:44,280 --> 00:15:46,680 He will have to lift it off when it goes live. 308 00:15:46,800 --> 00:15:48,160 - When it goes live! - I mean, 309 00:15:48,640 --> 00:15:50,560 he will think I am on the right track. 310 00:15:50,640 --> 00:15:53,600 Has your mentor met your dad? 311 00:15:53,800 --> 00:15:54,840 No! 312 00:15:55,480 --> 00:15:57,240 - He hasn't. - Your dad doesn't know. 313 00:15:57,320 --> 00:15:58,880 Even I haven't met him. 314 00:15:58,960 --> 00:16:00,840 - You haven't met him? - What? 315 00:16:01,880 --> 00:16:03,160 How? 316 00:16:03,240 --> 00:16:04,800 He lives in Gurugram 317 00:16:04,920 --> 00:16:06,800 - and I am in Sanchore. - You met online 318 00:16:07,000 --> 00:16:09,480 and he invested Rs. 6 lakhs in your business. 319 00:16:10,080 --> 00:16:12,280 Do you both have an equity split? 320 00:16:12,400 --> 00:16:14,760 ESOPs have been promised. 321 00:16:15,800 --> 00:16:20,080 ESOP means Employee Stock Ownership Plan. 322 00:16:20,400 --> 00:16:22,080 It's a scheme 323 00:16:22,200 --> 00:16:24,320 where companies offer their employees 324 00:16:24,480 --> 00:16:28,680 the option to buy shares at a deeply discounted price. 325 00:16:29,480 --> 00:16:31,880 This way, as the company grows, 326 00:16:31,960 --> 00:16:35,440 employees can also create a share of its profits. 327 00:16:35,960 --> 00:16:39,200 Typically, it is believed that if you keep 10% of the company's equity 328 00:16:39,320 --> 00:16:43,360 for employees in the early stages, 329 00:16:43,440 --> 00:16:46,120 you're creating a very good and generous plan. 330 00:16:46,840 --> 00:16:48,120 You promised ESOPs to him? 331 00:16:48,200 --> 00:16:50,160 But ESOPs are given to employees. 332 00:16:51,040 --> 00:16:52,920 - You will give him a share. - Yes. 333 00:16:53,000 --> 00:16:55,480 - You have not decided how much share you will give him. - Yes. 334 00:16:56,000 --> 00:16:57,720 Let's go back. 335 00:16:57,840 --> 00:17:00,600 When you were in the 8th grade, you wanted to be an entrepreneur. 336 00:17:00,680 --> 00:17:03,880 Where did your interest in becoming an entrepreneur come from? 337 00:17:05,680 --> 00:17:08,800 This is how my dad was. 338 00:17:09,800 --> 00:17:13,800 - He was mischievous. - Okay! 339 00:17:13,920 --> 00:17:17,640 He came to Mumbai and tried acting and other fields. 340 00:17:17,720 --> 00:17:18,840 Did he try acting? 341 00:17:18,960 --> 00:17:22,240 Yes, singing, acting and other things, but he failed. 342 00:17:22,320 --> 00:17:26,840 My grandma and others at home used to taunt him. 343 00:17:27,880 --> 00:17:32,240 It used to hurt me. Why would they do that? 344 00:17:32,800 --> 00:17:36,120 So, gradually I felt that I will try it now. 345 00:17:36,200 --> 00:17:38,720 - His dream... - I will prove that we can do this. 346 00:17:38,800 --> 00:17:40,880 He couldn't do it, but I will. 347 00:17:41,480 --> 00:17:42,920 How well did you do in your studies? 348 00:17:43,440 --> 00:17:44,920 I am a backbencher. 349 00:17:45,600 --> 00:17:48,000 I was also a backbencher, but I scored good grades. 350 00:17:48,080 --> 00:17:49,080 I don't get good grades. 351 00:17:49,160 --> 00:17:50,000 - You don't. - No! 352 00:17:50,080 --> 00:17:52,880 Why? Do you not like studying, or is it that you don't understand it? 353 00:17:53,160 --> 00:17:54,400 - I don't like it. - You don't like it. 354 00:17:54,440 --> 00:17:56,640 You mentioned that you are studying through an online platform. 355 00:17:56,640 --> 00:18:01,560 - Yes! - Why did you stop attending mainstream school? 356 00:18:02,080 --> 00:18:03,960 Because I was working on this. 357 00:18:04,040 --> 00:18:07,160 Even if I go, I doubt I will study. 358 00:18:07,280 --> 00:18:10,640 I don't... I don't want to do a job. 359 00:18:11,160 --> 00:18:13,880 Sanjay, you are lovely. 360 00:18:14,120 --> 00:18:16,040 This is how we Rajasthanis are. 361 00:18:17,000 --> 00:18:21,560 You have a lot of passion when it comes to this business. 362 00:18:21,720 --> 00:18:24,480 Because it is not just about a business. 363 00:18:24,600 --> 00:18:27,560 Here you want to prove something. 364 00:18:28,360 --> 00:18:31,760 I started entrepreneurship when I was 13 years old 365 00:18:32,520 --> 00:18:34,600 I also started a business with books. 366 00:18:34,920 --> 00:18:36,200 I couldn't make a lot of money. 367 00:18:36,280 --> 00:18:38,760 I had to shut it down and then I started an interiors business. 368 00:18:39,160 --> 00:18:40,000 That failed too. 369 00:18:40,120 --> 00:18:41,920 I blamed interior designers. 370 00:18:42,000 --> 00:18:44,080 Then I started an export business. 371 00:18:44,160 --> 00:18:45,800 I was around 18-19 years old by then. 372 00:18:45,920 --> 00:18:48,320 That failed too. I blamed India's market for that. 373 00:18:48,400 --> 00:18:51,360 But in the end, I realised that I was doing 374 00:18:51,760 --> 00:18:55,280 a lot of things purely out of emotion. 375 00:18:56,080 --> 00:18:58,120 I just wanted to win desperately. 376 00:18:58,200 --> 00:19:01,920 I thought of taking a step back and focusing on my studies. 377 00:19:02,200 --> 00:19:04,320 I got lucky 378 00:19:04,400 --> 00:19:06,520 that I got a scholarship and I went to the US. 379 00:19:06,640 --> 00:19:09,560 That is where I learnt how business is done. 380 00:19:10,240 --> 00:19:12,200 So, the business you are in currently... 381 00:19:12,320 --> 00:19:15,520 The world's biggest company, Amazon, 382 00:19:16,200 --> 00:19:18,760 - started as an online bookstore. - Right. 383 00:19:19,600 --> 00:19:23,720 Classified companies have already moved past this stage. 384 00:19:24,560 --> 00:19:26,240 The main reason this doesn't work well 385 00:19:26,320 --> 00:19:29,040 is the high seasonality. 386 00:19:29,280 --> 00:19:32,160 The second issue is the business model. 387 00:19:32,240 --> 00:19:33,960 If you start charging a transaction fee, 388 00:19:34,080 --> 00:19:36,080 the yield per book becomes very low. 389 00:19:36,880 --> 00:19:39,320 - Right. - And for an advertising model, 390 00:19:39,520 --> 00:19:42,200 you need millions of users. 391 00:19:43,080 --> 00:19:45,040 You said you don't want to work under anyone. 392 00:19:45,240 --> 00:19:48,040 But I think it may not be such a bad thing. 393 00:19:48,760 --> 00:19:51,200 The deadline of six months 394 00:19:51,280 --> 00:19:53,240 will make you do the wrong things. 395 00:19:53,680 --> 00:19:54,680 I am out. 396 00:19:55,160 --> 00:19:57,600 But I am happy to mentor you in person. 397 00:19:57,760 --> 00:20:00,720 You said you applied to DreamDeal. 398 00:20:00,800 --> 00:20:02,480 Drop me an email. 399 00:20:02,600 --> 00:20:03,840 But good luck, man. 400 00:20:03,920 --> 00:20:06,480 Passion and enthusiasm are in the right place. 401 00:20:06,560 --> 00:20:10,080 You need to develop a better understanding of the business. Okay? 402 00:20:11,160 --> 00:20:13,920 I want to tell you that I agree with Anupam. 403 00:20:14,280 --> 00:20:16,360 Sometimes, taking a step back, 404 00:20:17,000 --> 00:20:18,480 getting a job... 405 00:20:18,960 --> 00:20:21,160 Yes, very shocking. But... 406 00:20:21,400 --> 00:20:25,680 Doing a job and learning is important. 407 00:20:26,120 --> 00:20:29,440 Learn that and start again. 408 00:20:29,520 --> 00:20:31,720 - But for today, I am out. - Thank you, ma'am. 409 00:20:31,840 --> 00:20:34,280 Sanjay, I somehow 410 00:20:34,360 --> 00:20:37,080 am not as convinced as Anupam and Namita 411 00:20:37,200 --> 00:20:39,080 that this business will not work. 412 00:20:40,600 --> 00:20:43,800 I think the best thing about this category 413 00:20:43,880 --> 00:20:47,560 is that Indians consider books to be a form of Goddess Saraswati, 414 00:20:47,640 --> 00:20:49,400 which is why they don't want to throw it away. 415 00:20:49,440 --> 00:20:52,640 So, online classifieds didn't work in India. 416 00:20:52,760 --> 00:20:55,880 But in your specialised use case 417 00:20:56,000 --> 00:20:59,200 where you will be focussed on books, it might work. 418 00:20:59,960 --> 00:21:02,480 The small things you've done in this, 419 00:21:02,560 --> 00:21:06,160 like uploading in just 10 seconds. 420 00:21:06,240 --> 00:21:09,520 It requires very sharp business thinking. 421 00:21:09,600 --> 00:21:13,040 The ad business you've thought of, 422 00:21:13,120 --> 00:21:14,680 that you will scale it. 423 00:21:14,800 --> 00:21:17,200 I think you should keep trying it out. 424 00:21:17,280 --> 00:21:21,800 However, before scaling it massively and paying for the reviews, 425 00:21:22,080 --> 00:21:26,440 make sure the consumer experience is good on both ends. 426 00:21:26,560 --> 00:21:28,360 You've improved the selling side, 427 00:21:28,440 --> 00:21:30,800 but there are still many gaps on the buyer's side. 428 00:21:30,920 --> 00:21:32,400 You must improve that. 429 00:21:32,520 --> 00:21:35,160 - And I would suggest that you focus on that. - Sure. 430 00:21:35,240 --> 00:21:37,160 And I hope you are successful. For now, I am out. 431 00:21:38,040 --> 00:21:41,600 I believe that our dreams become our fate. 432 00:21:41,680 --> 00:21:45,160 Since 8th grade, you've had a dream of building something big. 433 00:21:45,520 --> 00:21:47,200 I believe that it will happen someday. 434 00:21:48,720 --> 00:21:52,400 Here, the most important thing to crack is trust. 435 00:21:52,480 --> 00:21:54,000 As Kunal mentioned earlier. 436 00:21:54,280 --> 00:21:57,000 There is one metric that's repeat. 437 00:21:57,120 --> 00:21:58,920 We have a 55% repeat rate. 438 00:21:59,000 --> 00:22:03,280 We should deliver that consistently for the next 6-9 months. 439 00:22:03,600 --> 00:22:06,400 I believe your 'Nearby' feature is amazing. 440 00:22:06,480 --> 00:22:09,840 If this works, you will be able to prove that in multiple categories 441 00:22:09,920 --> 00:22:11,360 before it becomes monetisable. 442 00:22:12,280 --> 00:22:14,560 But currently, I don't see long-term trust 443 00:22:14,640 --> 00:22:18,480 in your business. 444 00:22:18,560 --> 00:22:21,280 But you are stubborn and that is what an entrepreneur wants. 445 00:22:21,720 --> 00:22:24,800 So, I would like to meet you outside. But I am out today. 446 00:22:25,080 --> 00:22:27,480 But I wish you all the very best. Thank you, sir. 447 00:22:27,560 --> 00:22:30,000 Sanjay, I believe your strength 448 00:22:30,120 --> 00:22:32,240 lies in your ability to connect with people. 449 00:22:33,080 --> 00:22:35,280 By leveraging this strength, 450 00:22:35,360 --> 00:22:40,320 I think you should bring more people on board with you in this business. 451 00:22:40,640 --> 00:22:42,600 Sometimes, when we build something on our own, 452 00:22:42,840 --> 00:22:44,800 we don't notice our blind spots. 453 00:22:45,240 --> 00:22:48,280 Sanjay, there are a lot of things in business 454 00:22:48,400 --> 00:22:50,320 which are yet to be done. 455 00:22:50,880 --> 00:22:53,280 Team, traction, 456 00:22:53,480 --> 00:22:56,680 payments, trust. 457 00:22:56,760 --> 00:22:59,200 A lot of things are pending. 458 00:22:59,880 --> 00:23:02,280 For that reason, I am out today. All the best. 459 00:23:03,480 --> 00:23:05,720 Sanjay, one minute. 460 00:23:07,120 --> 00:23:08,800 - Should I go? - No, wait. 461 00:23:11,560 --> 00:23:13,240 I am restless. 462 00:23:16,520 --> 00:23:20,480 I said that you reminded me of my story. 463 00:23:20,560 --> 00:23:23,200 I started entrepreneurship when I was 13 years old. 464 00:23:23,880 --> 00:23:25,320 I didn't have a mentor. 465 00:23:25,640 --> 00:23:27,520 So, it took me a long time to understand 466 00:23:27,600 --> 00:23:29,920 how business is done and how it's made. 467 00:23:30,560 --> 00:23:33,760 - I think you need a real mentor. - Yeah. 468 00:23:34,000 --> 00:23:38,040 Because of the qualities you have. Your determination and passion 469 00:23:38,600 --> 00:23:40,480 are in the right place. 470 00:23:40,720 --> 00:23:44,000 I won't be happy with myself 471 00:23:44,320 --> 00:23:46,960 after giving big talks, 472 00:23:47,080 --> 00:23:50,640 and when I see that person in myself, 473 00:23:51,440 --> 00:23:52,840 I don't give them a chance. 474 00:23:53,440 --> 00:23:54,720 I am going to make you your DreamDeal. 475 00:23:54,760 --> 00:23:57,040 You asked for Rs. 40 lakhs for 20%. 476 00:23:57,880 --> 00:23:59,240 If not this, we will do something else. 477 00:23:59,280 --> 00:24:00,760 But I see that you can make something. 478 00:24:02,840 --> 00:24:03,840 Yes or no? 479 00:24:06,320 --> 00:24:07,920 [music playing] 480 00:24:12,080 --> 00:24:13,560 Deal done! 481 00:24:13,640 --> 00:24:16,160 - Wow! - Amazing! Well done. 482 00:24:17,320 --> 00:24:19,000 This is more for me than you. 483 00:24:19,080 --> 00:24:20,920 I wanted you. 484 00:24:21,000 --> 00:24:22,040 Okay! Good! 485 00:24:22,120 --> 00:24:25,120 Because you are in classified business, you know the pain. 486 00:24:25,200 --> 00:24:27,440 - We are so happy for you. - The pain! 487 00:24:28,360 --> 00:24:31,280 I couldn't have slept tonight if I hadn't made an offer to you. 488 00:24:31,360 --> 00:24:33,520 Amazing! The situation is not tight anymore. 489 00:24:33,640 --> 00:24:35,720 - Now, we'll outshine everyone. - Outshine! 490 00:24:38,040 --> 00:24:40,080 - No! - Sir! 491 00:24:42,920 --> 00:24:45,720 [music playing] 492 00:24:46,840 --> 00:24:47,840 [camera shutter clicks] 493 00:24:57,360 --> 00:24:58,920 Congratulations! No! 494 00:24:59,600 --> 00:25:00,600 Do well. 495 00:25:01,200 --> 00:25:02,200 Congrats. 496 00:25:05,760 --> 00:25:06,840 Sir! 497 00:25:09,240 --> 00:25:10,360 All the best, Sanjay. 498 00:25:11,880 --> 00:25:13,480 Yes! 499 00:25:19,040 --> 00:25:20,120 Yes! 500 00:25:21,400 --> 00:25:23,280 - Sanjay, congratulations! - Thank you, ma'am. 501 00:25:23,360 --> 00:25:24,840 - Don't call me 'ma'am'. - Aunt! 502 00:25:24,960 --> 00:25:27,000 I will slap you for calling me that. 503 00:25:27,120 --> 00:25:27,920 Thank you, sister. 504 00:25:28,000 --> 00:25:31,520 Very good! Are you happy now that you have a cheque? 505 00:25:31,640 --> 00:25:32,640 I am elated. 506 00:25:34,040 --> 00:25:37,440 And I really wanted to celebrate because this is a good chance. 507 00:25:37,640 --> 00:25:38,800 I didn't know what you liked, 508 00:25:38,840 --> 00:25:41,440 so I ordered a few things from Swiggy Instamart. 509 00:25:41,520 --> 00:25:43,480 It was delivered in 10 minutes. 510 00:25:43,880 --> 00:25:46,960 Thank you, sir. There are diaries 511 00:25:47,240 --> 00:25:48,920 so that you can continue working. 512 00:25:49,000 --> 00:25:51,120 There are premium pens 513 00:25:51,200 --> 00:25:53,000 so that you can sign more cheques now. 514 00:25:53,080 --> 00:25:54,560 I was hungry. You did the right thing. 515 00:25:54,640 --> 00:25:55,880 Oh! Very good! I am very happy. 516 00:25:56,040 --> 00:25:58,760 There are energy bars because I know you were anxious. 517 00:25:58,880 --> 00:26:00,960 We will trade some books. 518 00:26:01,080 --> 00:26:03,680 Guys, if you need anything, you get everything in Swiggy Instamart. 519 00:26:03,720 --> 00:26:06,560 It was delivered in 10 minutes. Order now. 520 00:26:06,720 --> 00:26:08,600 What is the Shark in you saying? 521 00:26:08,680 --> 00:26:11,160 Which pitcher should get a deal and who shouldn't, right? 522 00:26:11,240 --> 00:26:12,600 Do one thing, just hear it out. 523 00:26:12,680 --> 00:26:16,280 There is a contest going on the Lenskart app or Lenskart.com, 524 00:26:16,440 --> 00:26:19,440 Offer Or No Offer. Participate in that... 525 00:26:33,160 --> 00:26:35,680 [music playing] 526 00:26:57,240 --> 00:26:58,080 I am 18 years old. 527 00:26:58,200 --> 00:27:00,240 - Oh my! - I never wanted to do a job. 528 00:27:00,360 --> 00:27:02,360 I always wanted to be an entrepreneur. 529 00:27:02,440 --> 00:27:05,920 I am currently pursuing a BBA at Masters' Union in Delhi. 530 00:27:06,000 --> 00:27:09,240 It's a new-age college where we understand business 531 00:27:09,320 --> 00:27:11,720 practically and not theoretically. 532 00:27:11,840 --> 00:27:14,640 Today, I am here with my second startup, MemoTag. 533 00:27:16,760 --> 00:27:17,840 [sighs] 534 00:27:18,880 --> 00:27:20,800 There is a role model in everyone's life. 535 00:27:20,880 --> 00:27:22,360 For me, that was my grandpa. 536 00:27:22,440 --> 00:27:24,760 The difference between right and wrong, financial knowledge 537 00:27:24,800 --> 00:27:27,640 and standing on my own feet. I learnt all of this from him. 538 00:27:27,760 --> 00:27:30,240 The vibe between my grandfather and me was something else. 539 00:27:30,960 --> 00:27:34,440 But three years ago, he was diagnosed with dementia. 540 00:27:42,840 --> 00:27:44,520 It was quite a sad situation for us. 541 00:27:44,600 --> 00:27:47,720 This had become a safety concern for us. 542 00:27:49,200 --> 00:27:51,720 Currently, families of around 88 lakh patients 543 00:27:52,040 --> 00:27:54,040 in India go through the same concern. 544 00:28:17,680 --> 00:28:19,880 ...we can analyse patients' voice through vocal analysis 545 00:28:19,920 --> 00:28:22,680 and predict when their health will improve... 546 00:28:31,960 --> 00:28:34,880 When I was young, both my parents used to work. 547 00:28:35,040 --> 00:28:38,000 My grandparents raised me and looked after me. 548 00:28:38,080 --> 00:28:40,880 It's my turn now to look after my grandpa 549 00:28:41,000 --> 00:28:44,560 and help millions of patients like him and their families. 550 00:28:45,520 --> 00:28:47,640 We are currently at the 4th prototype stage. 551 00:28:47,720 --> 00:28:50,400 And we are almost ready for the launch. 552 00:28:50,520 --> 00:28:53,520 We need your support. Rs. 50 lakhs for 5% equity. 553 00:28:54,960 --> 00:28:56,720 So, Sharks! Let's transform 554 00:28:56,800 --> 00:28:59,600 the future of proactive caregiving with MemoTag. 555 00:29:00,120 --> 00:29:02,480 Reyansh, welcome to the Campus Special episode, 556 00:29:02,520 --> 00:29:03,600 Shark Tank Season 4. 557 00:29:03,760 --> 00:29:06,480 Very sorry about your grandpa's health condition. 558 00:29:15,000 --> 00:29:17,040 ...tell us about your first startup. 559 00:29:17,600 --> 00:29:19,560 I started with my mom's startup. 560 00:29:19,640 --> 00:29:21,360 She had this homegrown business 561 00:29:21,560 --> 00:29:23,000 where she sold bands. 562 00:29:23,080 --> 00:29:23,960 What do you mean? 563 00:29:24,040 --> 00:29:27,280 The decorative bands that are used during weddings. 564 00:29:27,520 --> 00:29:30,040 I was with her, I helped her, and through that, 565 00:29:30,160 --> 00:29:32,080 I developed an interest in entrepreneurship. 566 00:29:32,200 --> 00:29:35,920 After that, I worked with a start-up called appoyster. 567 00:29:40,920 --> 00:29:44,600 After that, I started my first startup called Gigtern. 568 00:29:44,760 --> 00:29:47,080 It was UrbanClap for students. 569 00:29:47,760 --> 00:29:49,480 We created a marketplace for students 570 00:29:49,560 --> 00:29:52,520 where we connect them with hyper-local offline gigs. 571 00:30:00,200 --> 00:30:03,840 That's why I started MemoTag in August 2023. 572 00:30:04,880 --> 00:30:07,360 Why did you name it MemoTag? 573 00:30:07,440 --> 00:30:10,960 'Memo' comes from memory and it is shaped like a tag. 574 00:30:12,440 --> 00:30:15,360 Where did you learn to give a presentation 575 00:30:15,560 --> 00:30:18,760 with such confidence and articulation? 576 00:30:18,840 --> 00:30:19,840 Are you a drama student? 577 00:30:20,080 --> 00:30:22,200 I've been practising since morning. 578 00:30:22,440 --> 00:30:23,440 So honest. 579 00:30:23,520 --> 00:30:25,920 - You are very good. - Thank you, sir. 580 00:30:26,040 --> 00:30:28,080 - Can I just show you... - Show us the products. 581 00:30:28,320 --> 00:30:31,200 [music playing] 582 00:30:36,000 --> 00:30:37,840 This is the packaging and this is the prototype. 583 00:30:37,840 --> 00:30:39,680 Is this inside it? 584 00:30:39,760 --> 00:30:41,320 No! There is just the packaging. 585 00:30:41,440 --> 00:30:42,600 Leave something for us. 586 00:30:42,680 --> 00:30:44,760 - I will pass it on, don't worry. - Please... 587 00:30:46,440 --> 00:30:48,520 [music playing] 588 00:30:58,480 --> 00:31:00,720 I created my first prototype in January. 589 00:31:00,800 --> 00:31:04,040 In January, I used a bike tracker from Amazon... 590 00:31:45,000 --> 00:31:47,640 When we gathered insights, we realised 591 00:31:47,720 --> 00:31:50,680 that patients with dementia don't like skin-invasive things. 592 00:31:50,760 --> 00:31:52,280 - They used to throw it away. - Hmm! 593 00:31:52,360 --> 00:31:54,560 In the last prototype which I am showing you, 594 00:31:54,640 --> 00:31:56,840 in that we can add different types of wearables. 595 00:31:57,000 --> 00:32:00,360 They can wear it like a locket, attach it like a hook... 596 00:32:05,960 --> 00:32:08,800 At the start, we do a small quiz 597 00:32:08,880 --> 00:32:13,040 thereby determining the patient's cognitive level. 598 00:32:13,120 --> 00:32:14,200 It's called a Mini-Cog Test 599 00:32:21,960 --> 00:32:24,360 This is where our application and wearable connect. 600 00:32:32,200 --> 00:32:33,560 We can also set up a boundary. 601 00:32:33,840 --> 00:32:36,280 This is the boundary limit which should not be crossed. 602 00:32:36,360 --> 00:32:37,880 If the patient does, the device triggers an alert. 603 00:32:37,920 --> 00:32:40,120 We can also call the patient in case of an emergency. 604 00:32:40,240 --> 00:32:41,840 Call them how? Through the device? 605 00:32:41,960 --> 00:32:44,320 - Yes. Just like a normal call. - Does it have a SIM? 606 00:32:44,520 --> 00:32:45,960 - Is there one in it? - Yes, it does. 607 00:32:46,040 --> 00:32:47,920 Hang on. Will this ring? 608 00:32:48,040 --> 00:32:49,520 It won't ring. The call directly connects. 609 00:32:49,520 --> 00:32:50,840 - So, it directly starts. - Yes. 610 00:32:50,920 --> 00:32:53,200 - Is it a two-way conversation or one-way? - Yes, two-way. 611 00:33:18,800 --> 00:33:20,320 The second is a proper fault detection 612 00:33:20,400 --> 00:33:22,080 where if the patient falls, 613 00:33:27,680 --> 00:33:29,920 In cognitives, our main function is the CST. 614 00:33:52,120 --> 00:33:53,800 There is a whole progression chart 615 00:33:53,880 --> 00:33:58,080 from the time they wear the device predicting their improvement time. 616 00:33:58,200 --> 00:34:00,160 So, this gives personalised recommendations. 617 00:34:00,280 --> 00:34:02,560 Could you give us a demo of the vocalised reminders? 618 00:34:02,640 --> 00:34:04,600 Ma'am, the demo isn't working. That is the reason. 619 00:34:05,320 --> 00:34:07,200 Then this is just theoretical. 620 00:34:07,280 --> 00:34:09,520 - It's in the prototype stage. So, some functions work. - Right. 621 00:34:09,560 --> 00:34:12,160 We have over 170 beta and alpha testers. 622 00:34:16,160 --> 00:34:18,160 The third prototype only has the physical features. 623 00:34:18,280 --> 00:34:20,080 - This prototype has those features. - Yes. 624 00:34:20,200 --> 00:34:22,600 Then why can't you give us a demo of the vocalised reminders? 625 00:34:22,600 --> 00:34:24,960 There are internet problems and other issues. 626 00:34:25,040 --> 00:34:26,320 So, it wasn't working properly. 627 00:34:26,400 --> 00:34:27,800 Show us the demo on the screen 628 00:34:27,880 --> 00:34:30,280 but we need to see that your features work. 629 00:34:30,360 --> 00:34:32,200 Ma'am, actually, that's not working. 630 00:34:32,280 --> 00:34:34,120 I mean, I won't be able to operate it. 631 00:34:34,920 --> 00:34:36,600 It's not an internet problem then, 632 00:34:36,680 --> 00:34:38,240 - it is... - This is not connected to it. 633 00:34:38,720 --> 00:34:41,080 Can you tell me what feature you can show us? 634 00:34:41,160 --> 00:34:42,480 None of the features, ma'am. 635 00:34:43,560 --> 00:34:46,600 This application will be connected to the fourth prototype. 636 00:34:46,680 --> 00:34:48,640 I don't have the application for the third prototype. 637 00:34:48,680 --> 00:34:49,920 So, I can't give you a demo. 638 00:34:50,080 --> 00:34:52,440 How do you run the third prototype without an application then? 639 00:34:52,440 --> 00:34:54,440 We have a separate application for it 640 00:34:54,520 --> 00:34:56,520 with a basic UI and UX. 641 00:34:56,640 --> 00:34:57,960 - We run it on that. - Show the demo using that. 642 00:34:58,000 --> 00:35:00,560 We don't have the software on this phone, sir. It won't work. 643 00:35:00,640 --> 00:35:01,760 Why didn't you bring it? 644 00:35:02,440 --> 00:35:04,600 Sir, I didn't think it'd be useful 645 00:35:04,680 --> 00:35:06,680 and thought I'd show you the demo on this app. 646 00:35:07,160 --> 00:35:09,280 - So, you could have brought it. - Yes. 647 00:35:09,360 --> 00:35:11,920 This is an oversight on your part 648 00:35:12,000 --> 00:35:13,920 - or an... - It's an oversight, sir. It's my fault. 649 00:35:14,600 --> 00:35:17,160 So, is anything on this running currently? 650 00:35:17,240 --> 00:35:19,480 - You showed us a true wonder! - Yes. 651 00:35:19,560 --> 00:35:22,440 Out of all this, what really works? 652 00:35:22,520 --> 00:35:24,120 Nothing except Reyansh! 653 00:35:24,200 --> 00:35:25,200 [both laugh] 654 00:35:25,400 --> 00:35:27,760 Sir and ma'am, we're here to pitch a concept. 655 00:35:27,880 --> 00:35:29,640 But you said the beta testing was done. 656 00:35:29,720 --> 00:35:31,080 It was on the old application 657 00:35:31,160 --> 00:35:33,320 which was a UI-UX dumb down application. 658 00:35:33,480 --> 00:35:37,800 - You could've just pitched the poor UI-UX application. - Yes. 659 00:35:37,880 --> 00:35:39,200 Which was tested and worked fine. 660 00:35:39,240 --> 00:35:42,000 You just mentioned that 150 people beta and alpha tested the app. 661 00:35:42,080 --> 00:35:44,640 Does that apply to the old app or this app? 662 00:35:44,680 --> 00:35:47,080 The old app, ma'am. We're still developing this one. 663 00:35:47,880 --> 00:35:49,080 Reyansh, tell me something. 664 00:35:49,160 --> 00:35:50,920 - This device you gave us... - Yes? 665 00:35:51,000 --> 00:35:53,600 - This is just a 3D-printed casing. - Right, sir. 666 00:35:53,680 --> 00:35:55,720 How are you going to launch the product in December? 667 00:35:56,160 --> 00:35:59,440 Sir, our circuit design will be ready by December 668 00:35:59,560 --> 00:36:01,200 and the application will be ready by then. 669 00:36:01,320 --> 00:36:02,720 [solemn music playing] 670 00:36:03,680 --> 00:36:05,720 Let's understand the market. 671 00:36:05,840 --> 00:36:08,520 What other products exist in the market? 672 00:36:08,720 --> 00:36:11,400 India majorly has two players. 673 00:36:11,480 --> 00:36:12,920 The first is *** 674 00:36:13,000 --> 00:36:14,400 and, sir, the other is Ivory. 675 00:36:14,800 --> 00:36:16,320 Our moat and USP is... 676 00:36:24,600 --> 00:36:26,640 ...like I mentioned, the prediction model. 677 00:36:26,720 --> 00:36:29,640 How big is the dementia care market in India, Reyansh? 678 00:36:30,000 --> 00:36:33,680 - In India, there are currently 88 million people. - 88 lakh. 679 00:36:34,240 --> 00:36:35,400 Yes, sir. 88 lakh. 680 00:36:35,480 --> 00:36:37,760 The market is $150 million. 681 00:36:37,880 --> 00:36:39,320 Isn't that wrong? 682 00:36:39,400 --> 00:36:41,560 Don't you think $150 million is a bit too low? 683 00:36:43,320 --> 00:36:45,360 If we take an average of $10 million, 684 00:36:45,600 --> 00:36:47,240 then you are spending 685 00:36:48,040 --> 00:36:52,000 - $10-15 a year per... - Person. 686 00:36:52,080 --> 00:36:53,080 Person. 687 00:36:53,760 --> 00:36:56,120 Sir, we actually did our market research 688 00:36:56,200 --> 00:36:58,160 and we landed at this calculation. 689 00:36:59,000 --> 00:37:00,720 The companies we've seen 690 00:37:00,840 --> 00:37:04,720 - are more service-based. - Yes, ma'am. 691 00:37:04,800 --> 00:37:06,520 Yours is product-based. 692 00:37:06,600 --> 00:37:10,120 I think your unique proposition or main point is 693 00:37:10,200 --> 00:37:12,000 more hardware versus software. 694 00:37:12,560 --> 00:37:14,320 I'm sorry I didn't bring this up before. 695 00:37:14,400 --> 00:37:16,640 We're not a hardware company, we're a software company. 696 00:37:17,920 --> 00:37:20,560 Our goal is to start with wearables, 697 00:37:20,640 --> 00:37:22,120 test out the market 698 00:37:22,200 --> 00:37:23,360 and come up with a SaaS. 699 00:37:26,080 --> 00:37:27,520 ...such as Apple Watches and Fitbits 700 00:37:27,560 --> 00:37:28,640 and take it to the masses. 701 00:37:28,720 --> 00:37:30,720 Our eventual goal is to create a SaaS company. 702 00:37:31,840 --> 00:37:34,600 Tell me what your goal for the next 11 months is, 703 00:37:34,680 --> 00:37:36,280 because I'm highly confused. 704 00:37:36,360 --> 00:37:37,880 - So, you... - I'll tell you the numbers, ma'am. 705 00:37:37,920 --> 00:37:40,000 - You'll like it. - What numbers? Tell me the market's numbers. 706 00:37:40,040 --> 00:37:41,800 What will we like? Let him speak. 707 00:37:42,760 --> 00:37:45,520 Ma'am, we have 3,500 pre-orders of the wearable 708 00:37:45,600 --> 00:37:47,200 and one year's subscription. 709 00:37:47,280 --> 00:37:50,080 We currently have a contract of Rs. 5.25 crores. 710 00:37:50,160 --> 00:37:52,840 In these pre-orders, what's the advance payment you've received? 711 00:37:52,920 --> 00:37:55,120 Sir, no advance payments. We have LOIs and MOUs. 712 00:37:59,000 --> 00:38:00,280 [tense music playing] 713 00:38:01,160 --> 00:38:02,760 So, don't get caught in that trap. 714 00:38:02,840 --> 00:38:05,640 We have other numbers too. We've even cracked the distribution. 715 00:38:05,720 --> 00:38:08,080 - We have a technology partner called ProCohat. - Okay. 716 00:38:08,160 --> 00:38:11,200 And ProCohat is an IT vertical of a company called SMS. 717 00:38:11,280 --> 00:38:14,400 SMS is one of India's largest medical-based companies. 718 00:38:14,520 --> 00:38:15,960 Their IT department 719 00:38:16,040 --> 00:38:18,080 is helping us entirely to build this product. 720 00:38:19,120 --> 00:38:21,160 - Reyansh, a simple question. - Yes, sir. 721 00:38:21,240 --> 00:38:22,800 How many transistors does this have? 722 00:38:22,960 --> 00:38:24,160 Sir, transistors? 723 00:38:25,600 --> 00:38:26,720 I'm not sure, sir, 724 00:38:27,440 --> 00:38:29,600 because I'm not the IT hardware guy. 725 00:38:31,760 --> 00:38:34,920 As a founder, are you coding the software? 726 00:38:35,000 --> 00:38:37,080 I did code the software myself at the start 727 00:38:37,160 --> 00:38:39,040 but they got the software during the transition. 728 00:38:39,120 --> 00:38:40,720 Who makes the hardware then? 729 00:38:40,800 --> 00:38:42,120 We outsource the hardware 730 00:38:42,200 --> 00:38:44,040 to a unit development facility in Nashik. 731 00:38:44,120 --> 00:38:45,680 We design it in-house though. 732 00:38:46,960 --> 00:38:48,560 You said you have a team of 15 people. 733 00:38:48,640 --> 00:38:50,080 How are you paying them salaries? 734 00:38:50,160 --> 00:38:52,680 - Have you raised funds? - We transferred 15% equity, sir. 735 00:38:54,360 --> 00:38:55,800 They're ProCohat employees. 736 00:38:55,880 --> 00:38:57,720 - Oh! ProCohat's! - And SMS... Yes. 737 00:38:57,800 --> 00:38:58,880 They work for us. 738 00:38:58,960 --> 00:39:00,960 - ProCohat gives them a salary. - Right, sir. 739 00:39:01,080 --> 00:39:03,800 - You've given shares to ProCohat. - Yes, sir. 740 00:39:03,920 --> 00:39:05,240 I'm out. 741 00:39:06,640 --> 00:39:11,240 I sat through 7 to 8 Campus Special pitches 742 00:39:11,360 --> 00:39:12,840 but very sorry to say, 743 00:39:12,920 --> 00:39:14,880 this was probably the most disappointing. 744 00:39:16,280 --> 00:39:19,440 The fact that your product currently is zero 745 00:39:19,520 --> 00:39:21,800 and to cover that up, 746 00:39:21,920 --> 00:39:25,200 you do a lot of storytelling. 747 00:39:25,280 --> 00:39:27,640 And that makes it 748 00:39:27,880 --> 00:39:30,320 very difficult to trust you as a founder. 749 00:39:30,400 --> 00:39:33,040 I think you made a good-looking box 750 00:39:33,440 --> 00:39:34,760 with good branding, 751 00:39:34,880 --> 00:39:38,760 but that without a product is a big no. 752 00:39:39,000 --> 00:39:40,480 [ominous music playing] 753 00:39:41,200 --> 00:39:43,240 I think sometimes when you're too young, 754 00:39:43,480 --> 00:39:45,800 you end up going too fast. 755 00:39:46,560 --> 00:39:48,360 And when you chase after speed, 756 00:39:48,440 --> 00:39:52,360 you tend to miss out on giving depth. 757 00:39:53,240 --> 00:39:54,440 I would request you 758 00:39:54,560 --> 00:39:58,440 to actually show a customer journey for your next pitch 759 00:39:58,520 --> 00:40:00,520 - not just through your words. - Yes. Right, ma'am. 760 00:40:01,720 --> 00:40:04,440 Today, you don't have that. That's why I'm out 761 00:40:04,760 --> 00:40:07,120 but work on it and you will be a success. 762 00:40:09,880 --> 00:40:13,320 I think your biggest problem is the approach that you've taken. 763 00:40:13,400 --> 00:40:14,400 Alright. 764 00:40:14,560 --> 00:40:17,480 You were asked, what makes you different? 765 00:40:17,640 --> 00:40:20,280 You replied, "I integrated everyone's USPs" 766 00:40:20,560 --> 00:40:22,640 "and added some of my own features." 767 00:40:22,960 --> 00:40:24,440 "And that is my superpower." 768 00:40:25,400 --> 00:40:27,840 You claim your product is better 769 00:40:27,920 --> 00:40:29,480 - because you can do everything. - Yes. 770 00:40:29,560 --> 00:40:31,880 That's not how you create disruption, 771 00:40:31,960 --> 00:40:35,160 that's a fast and painful death. 772 00:40:36,480 --> 00:40:38,080 I don't wish that upon you 773 00:40:38,200 --> 00:40:39,640 but because you have that approach, 774 00:40:39,720 --> 00:40:42,920 I think today if I make you an offer or fund you, 775 00:40:43,040 --> 00:40:45,200 that'll be the wrong decision 776 00:40:45,280 --> 00:40:48,360 because you can learn from others' mistakes 777 00:40:48,600 --> 00:40:51,160 but you get wisdom from your own mistakes. 778 00:40:51,360 --> 00:40:52,880 I think you can do it. Good luck. 779 00:40:53,320 --> 00:40:54,320 I'm out. 780 00:40:55,520 --> 00:40:56,440 Reyansh! 781 00:40:56,520 --> 00:41:00,200 - It's important for a founder to be detail-oriented. - Yes, sir. 782 00:41:00,280 --> 00:41:02,640 I asked how many transistors the device had 783 00:41:02,760 --> 00:41:05,120 but you had no idea about it. 784 00:41:06,160 --> 00:41:10,400 Then how can we believe this will be a solid, 785 00:41:10,840 --> 00:41:14,080 innovative hardware plus software company going forward? 786 00:41:15,240 --> 00:41:16,640 I am out for today. 787 00:41:17,120 --> 00:41:18,920 I wish you all the best. 788 00:41:19,000 --> 00:41:20,600 Hopefully, you'll learn a valuable lesson 789 00:41:20,680 --> 00:41:21,800 and be very successful. 790 00:41:22,040 --> 00:41:23,040 All the best. 791 00:41:23,960 --> 00:41:26,400 Reyansh, the way the pitch went... 792 00:41:26,480 --> 00:41:28,320 We saw the box of the product at the start 793 00:41:28,680 --> 00:41:29,920 but it didn't have the product. 794 00:41:31,000 --> 00:41:33,040 The product was there but it wasn't able to connect. 795 00:41:34,360 --> 00:41:36,520 I suggest you be forthcoming about it. 796 00:41:36,640 --> 00:41:38,880 - No surprise is always a win. - I agree, sir. 797 00:41:38,960 --> 00:41:41,120 Today, because I didn't see 798 00:41:41,440 --> 00:41:44,200 your passion and deep dive in regards to the product, 799 00:41:45,400 --> 00:41:46,400 I am out 800 00:41:46,480 --> 00:41:48,240 but I genuinely wish you all the very best. 801 00:41:48,520 --> 00:41:49,440 Thank you so much. 802 00:41:49,520 --> 00:41:50,600 Thank you so much, Sharks. 803 00:41:50,960 --> 00:41:52,400 [poignant music playing] 804 00:41:53,200 --> 00:41:55,480 'I thought if I pitched them the vision' 805 00:41:55,560 --> 00:41:57,720 with a proof of concept which we've done before, 806 00:41:57,800 --> 00:42:00,760 they would believe what I did earlier was possible too, 807 00:42:00,960 --> 00:42:02,400 but that didn't turn out right. 808 00:42:02,480 --> 00:42:03,760 So, we got a good reality check. 809 00:42:03,960 --> 00:42:05,240 [up-tempo music playing] 810 00:42:10,120 --> 00:42:11,520 [music concludes] 811 00:42:11,920 --> 00:42:15,320 Welcome to ACKO Change Makers where we really welcome change, 812 00:42:15,440 --> 00:42:18,640 and that is beautifully depicted on the wall behind me, 813 00:42:18,840 --> 00:42:21,200 our Change Makers wall. 814 00:42:21,560 --> 00:42:24,000 Through modern advancements and smart techniques, 815 00:42:24,080 --> 00:42:25,920 we're empowering change 816 00:42:26,080 --> 00:42:29,000 and today's Change Maker is Reyansh. 817 00:42:33,920 --> 00:42:36,560 ...but one thing is, you've also been a caregiver to your grandparents. 818 00:42:36,560 --> 00:42:37,360 Right. 819 00:42:37,480 --> 00:42:38,640 And it always happens that 820 00:42:38,720 --> 00:42:41,440 caregivers concentrate so much on their patients 821 00:42:41,520 --> 00:42:43,360 that they forget about their own mental health 822 00:42:43,440 --> 00:42:44,760 - as well as health. - Absolutely. 823 00:42:44,800 --> 00:42:46,000 What can we do 824 00:42:46,080 --> 00:42:49,080 to support and empower the caregivers? 825 00:42:49,160 --> 00:42:53,160 MemoTag's entire purpose is to take the stress off of caregivers 826 00:42:53,240 --> 00:42:55,600 - and create a holistic environment for them. - Hmm. 827 00:42:55,680 --> 00:42:58,000 We do this by giving them proactive tools 828 00:42:58,080 --> 00:43:00,120 such as full-time detection, 829 00:43:00,200 --> 00:43:02,160 we give them cognitive monitoring tools 830 00:43:02,240 --> 00:43:04,440 so that they can always be on top of their patients' health 831 00:43:04,440 --> 00:43:06,480 - and get real-time alerts about their issues. - Hmm. 832 00:43:06,520 --> 00:43:08,160 Thank you so much for bringing about this change 833 00:43:08,160 --> 00:43:09,360 at such a young age. 834 00:43:09,440 --> 00:43:11,440 What an innovator! I absolutely love it. 835 00:43:11,560 --> 00:43:13,800 Just as he's bringing about a change in this industry, 836 00:43:13,880 --> 00:43:16,680 ACKO too is revolutionising the landscape of insurance. 837 00:43:16,880 --> 00:43:19,400 Now, stop dealing with unknown agents. 838 00:43:19,480 --> 00:43:20,560 Know your insurer. 839 00:43:20,680 --> 00:43:21,920 Have faith in ACKO, 840 00:43:22,000 --> 00:43:23,920 the trusted choice of lakhs of Indians. 841 00:43:24,000 --> 00:43:27,080 They've settled over 3 lakh car claims. 842 00:43:27,440 --> 00:43:28,560 I had to tell them this. 843 00:43:28,640 --> 00:43:29,480 But I have to tell you 844 00:43:29,560 --> 00:43:32,320 that Shark Tank and ACKO wish to give you a memento 845 00:43:32,400 --> 00:43:34,360 - to celebrate your time in the Tank. - Awesome. 846 00:43:34,680 --> 00:43:37,840 - This is for you, Reyansh. - Thank you. 847 00:43:37,920 --> 00:43:39,240 - Nice photo. - [chuckles] 848 00:43:39,320 --> 00:43:40,240 Very nice photo. 849 00:43:40,320 --> 00:43:41,560 [camera shutter clicking] 850 00:43:52,120 --> 00:43:53,200 What's this? 851 00:43:53,360 --> 00:43:55,440 - What is this? - Armour. 852 00:43:55,560 --> 00:43:58,800 The vest is for warming, that's for cooling. 853 00:43:58,920 --> 00:44:00,000 That's a security device. 854 00:44:00,160 --> 00:44:01,400 Strange. 855 00:44:04,040 --> 00:44:05,880 [theme music playing] 856 00:44:21,080 --> 00:44:22,800 [theme music concludes] 857 00:44:23,440 --> 00:44:24,840 - Greetings, Sharks. - Greetings. 858 00:44:24,960 --> 00:44:27,320 My name is Mukkabir. I'm from Gular, Assam. 859 00:44:27,400 --> 00:44:30,400 I'm 17 years old and I've just completed twelfth grade. 860 00:44:30,520 --> 00:44:31,360 Very good. 861 00:44:31,440 --> 00:44:33,800 I am Varsha. I'm from Karnataka. 862 00:44:33,920 --> 00:44:36,080 I'm an MBA student at XIME College... 863 00:44:44,080 --> 00:44:45,480 Sharks, you must be wondering 864 00:44:45,600 --> 00:44:47,200 how an IITian, an MBA student 865 00:44:47,320 --> 00:44:49,400 and a high-school dropout met. 866 00:44:49,720 --> 00:44:51,960 Sharks, when I was in the eleventh grade, 867 00:44:52,080 --> 00:44:54,440 I spoke to bike and taxi drivers. 868 00:44:55,000 --> 00:44:58,000 They'd work in the heat every day at 40°C. 869 00:44:58,080 --> 00:45:00,040 I identified a problem. Not just them, 870 00:45:00,120 --> 00:45:02,080 but 75% of the workforce of India 871 00:45:02,160 --> 00:45:05,000 like delivery boys, fire marshals and security guards 872 00:45:05,120 --> 00:45:07,080 work in extreme heat. 873 00:45:07,720 --> 00:45:10,720 This could cause productivity loss, health issues 874 00:45:17,480 --> 00:45:19,360 ...all I needed was a solid team. 875 00:45:20,240 --> 00:45:22,920 I logged on to Y-Combinator's Co-Founder Matching Platform... 876 00:45:29,880 --> 00:45:31,040 ...but a walking AC. 877 00:45:31,160 --> 00:45:33,280 It uses PCM which is Phase Changing Material 878 00:45:33,400 --> 00:45:35,240 and Radiative Cooling Technology... 879 00:45:43,480 --> 00:45:44,600 ...for many hours. 880 00:45:44,680 --> 00:45:47,600 The price ranges between Rs. 1,000 to 1,500. 881 00:45:47,680 --> 00:45:49,560 And we're also working on other variants of it. 882 00:45:49,680 --> 00:45:53,440 Sharks, I believe this innovation can bring about a revolution. 883 00:45:53,520 --> 00:45:55,400 That's why I dropped out of school 884 00:45:55,520 --> 00:45:57,960 and work on this full-time now. 885 00:45:58,440 --> 00:46:00,440 While we study as well as work on this. 886 00:46:01,360 --> 00:46:04,400 Sharks, just as indoor cooling offers a variety of options, 887 00:46:04,600 --> 00:46:06,520 we want to offer sustainable 888 00:46:06,600 --> 00:46:08,440 and affordable outdoor cooling options 889 00:46:08,520 --> 00:46:11,600 and bring disruption in the personal and thermal comfort industry. 890 00:46:12,480 --> 00:46:16,240 Our ask is Rs. 54 lakhs for 3% equity in our company. 891 00:46:18,440 --> 00:46:21,880 Sharks, we might not be cool, but our vest is very cool. 892 00:46:21,960 --> 00:46:23,320 - [Sharks laugh] - Quite literally. 893 00:46:23,840 --> 00:46:25,360 You guys are very cool. 894 00:46:25,440 --> 00:46:27,520 Knowing yourself is half the battle won. 895 00:46:27,760 --> 00:46:29,760 Sharks, could I give you a demo of our products? 896 00:46:29,920 --> 00:46:30,920 Go ahead. 897 00:46:32,080 --> 00:46:32,960 What's its weight? 898 00:46:33,080 --> 00:46:34,560 Around 900 grams. 899 00:46:34,640 --> 00:46:38,280 Coming to the vest. This here is a windcheater fabric 900 00:46:38,440 --> 00:46:40,760 coated with a radiative material. 901 00:46:44,200 --> 00:46:46,120 PCM increases its lifespan. 902 00:46:46,240 --> 00:46:48,720 Also, there is this mesh fabric which allows air to pass. 903 00:46:49,440 --> 00:46:52,920 This is a PCM pouch that is Phase Changing Material. 904 00:46:53,040 --> 00:46:55,760 You must have seen it being used in cold-chain solutions. 905 00:47:12,360 --> 00:47:15,080 Wear this underneath your shirt or T-shirt like a vest. 906 00:47:15,720 --> 00:47:18,320 We keep things inside the fridge to cool them. 907 00:47:18,400 --> 00:47:20,080 - You built a mobile fridge! - [laughter] 908 00:47:20,720 --> 00:47:23,080 PCM is available in three variants. 909 00:47:23,200 --> 00:47:26,520 22°C, 24°C and 29°C. 910 00:47:29,600 --> 00:47:33,120 Yes, ma'am. We're working on it to make it even more comfortable. 911 00:47:33,200 --> 00:47:34,640 Let's deep-dive into the product. 912 00:47:34,720 --> 00:47:36,840 Firstly, I welcome you 913 00:47:36,920 --> 00:47:40,360 - to today's Shark Tank Campus Special. - Thank you. 914 00:47:40,440 --> 00:47:42,120 Tell us about yourselves. 915 00:47:42,200 --> 00:47:44,840 What brought about your pursuit in this business? 916 00:47:45,440 --> 00:47:48,640 My journey began when I was in the sixth grade. 917 00:47:48,800 --> 00:47:50,760 I had watched '3 Idiots' for the first time. 918 00:47:50,920 --> 00:47:52,760 In the movie, Rancho built a drone. 919 00:47:52,960 --> 00:47:55,000 That inspired me to invent things too. 920 00:47:56,000 --> 00:47:59,440 I tried a few times and successfully built a drone too. 921 00:47:59,560 --> 00:48:00,640 Then the lockdown was imposed. 922 00:48:00,680 --> 00:48:03,880 I had a lot of free time and made other inventions. 923 00:48:03,960 --> 00:48:06,520 I won many national and international competitions. 924 00:48:06,760 --> 00:48:08,560 When I was in the eleventh grade, 925 00:48:08,640 --> 00:48:10,680 I spoke to a bike taxi driver. 926 00:48:10,760 --> 00:48:12,960 - Excess heat causes problems for them. - Hmm. 927 00:48:13,120 --> 00:48:15,360 They found it difficult to work in the scorching heat. 928 00:48:15,480 --> 00:48:18,360 If they don't work, how will they provide for their families? 929 00:48:18,520 --> 00:48:21,000 I had problem-solving skills. 930 00:48:21,160 --> 00:48:23,520 I thought, why not use them to address this issue? 931 00:48:23,600 --> 00:48:26,040 - Are you really 17? - Yes. 932 00:48:26,120 --> 00:48:27,840 - Really? Sure? - Yes. 933 00:48:27,960 --> 00:48:29,400 What's your story, Ankush? 934 00:48:29,520 --> 00:48:30,640 I'm from Bachra, Jharkhand. 935 00:48:30,720 --> 00:48:34,000 I first prepared for the IIT at Kota 936 00:48:34,080 --> 00:48:35,800 - just as you had. - True. 937 00:48:35,880 --> 00:48:37,520 I cleared the IIT exam in 2021. 938 00:48:37,640 --> 00:48:39,960 I always aspired to be an entrepreneur. 939 00:48:40,160 --> 00:48:43,280 My first step was to go to IIT and do something there. 940 00:48:43,480 --> 00:48:45,680 I worked on a lot of ideas and technologies 941 00:48:45,760 --> 00:48:47,440 from the first year itself. 942 00:48:47,560 --> 00:48:49,080 Some of the start-ups received a grant. 943 00:48:49,080 --> 00:48:50,600 The IIT also gave us grants. 944 00:48:50,720 --> 00:48:52,440 Then Mukkabir discussed the problem with me. 945 00:48:52,480 --> 00:48:53,920 And you joined him. 946 00:48:54,240 --> 00:48:55,240 What's your story? 947 00:48:55,280 --> 00:48:56,720 I am 22 years old. 948 00:48:56,800 --> 00:49:00,160 I'm from a village called Mattikoppa in Karnataka. 949 00:49:00,240 --> 00:49:01,360 Where I come from, 950 00:49:01,440 --> 00:49:04,120 it's a great achievement if you've studied beyond the twelfth grade. 951 00:49:04,200 --> 00:49:06,240 What's the population of your village, Varsha? 952 00:49:06,320 --> 00:49:07,440 250 people, sir. 953 00:49:07,760 --> 00:49:09,560 - Wow! - You come from a village with 250 people. 954 00:49:09,600 --> 00:49:10,600 Yes. 955 00:49:11,520 --> 00:49:14,160 Amazing. What did you do after twelfth? 956 00:49:14,320 --> 00:49:17,160 I wanted to do something different since childhood. 957 00:49:17,280 --> 00:49:19,960 I didn't want to do a 9 to 5 job. 958 00:49:20,080 --> 00:49:21,080 You were rebellious. 959 00:49:21,160 --> 00:49:24,120 Start-up was my passion. I have an interest in marketing. 960 00:49:24,240 --> 00:49:25,640 After that, I met these two. 961 00:49:25,960 --> 00:49:27,760 The problem statement was great too. 962 00:49:28,880 --> 00:49:29,920 Unbelievable, right? 963 00:49:30,000 --> 00:49:31,960 You're from Assam, 964 00:49:32,040 --> 00:49:33,840 you are from Karnataka and he's from Jharkhand. 965 00:49:33,880 --> 00:49:35,960 From three different corners of the nation 966 00:49:36,040 --> 00:49:38,120 and you're building a business together. 967 00:49:39,640 --> 00:49:42,480 Why did you want to do this business together? 968 00:49:42,560 --> 00:49:45,800 And why did you choose entrepreneurship as a career? 969 00:49:45,880 --> 00:49:47,640 You're an MBA and you're from IIT. 970 00:49:47,720 --> 00:49:49,360 I'm sure there are other career options. 971 00:49:50,000 --> 00:49:51,520 There are options, but... 972 00:49:52,360 --> 00:49:54,360 All three of us want to solve problems 973 00:49:54,480 --> 00:49:56,000 and make money through problem-solving. 974 00:49:56,040 --> 00:49:58,440 You could solve problems in a job too. 975 00:49:58,520 --> 00:50:00,640 I won't be able to solve my problems there. 976 00:50:00,720 --> 00:50:03,360 How is this your problem? He identified it. 977 00:50:03,440 --> 00:50:05,560 Yes, he did, but I have a keen interest in solving it. 978 00:50:05,560 --> 00:50:06,960 - I want to do it. - Why? 979 00:50:07,040 --> 00:50:09,160 Because I sweat profusely in summers. 980 00:50:09,440 --> 00:50:10,880 [Sharks laugh] 981 00:50:11,000 --> 00:50:12,920 That's when I realised this was my problem too. 982 00:50:13,000 --> 00:50:15,080 Did the passion arise only because you feel too hot 983 00:50:15,160 --> 00:50:19,120 - or is it because this is a big opportunity? - Yes. 984 00:50:19,200 --> 00:50:20,200 Be honest. 985 00:50:20,240 --> 00:50:23,320 Nowadays, it's cool to be a founder on campuses, right? 986 00:50:23,400 --> 00:50:27,200 The majority of India's workforce is exposed to the scorching heat. 987 00:50:27,280 --> 00:50:28,800 - It's a big problem. - Hmm. 988 00:50:28,880 --> 00:50:30,400 So, the market size is quite big. 989 00:50:30,480 --> 00:50:33,000 What value will you add to the company? 990 00:50:33,080 --> 00:50:36,800 I've worked mostly in technology, operations, sales... 991 00:50:37,040 --> 00:50:39,320 It's equally distributed between us. 992 00:50:39,400 --> 00:50:40,640 He oversees the product. 993 00:50:40,800 --> 00:50:42,040 I handle sales and operations. 994 00:50:42,320 --> 00:50:43,960 And he oversees finance and others. 995 00:50:44,080 --> 00:50:46,760 - Do your parents support you? - To a certain extent. 996 00:50:46,880 --> 00:50:48,040 What about you, Varsha? 997 00:50:48,160 --> 00:50:51,360 To be honest, my parents don't want me to do this 998 00:50:51,440 --> 00:50:54,520 - because they don't have knowledge about start-ups. - Yes. 999 00:50:54,600 --> 00:50:57,800 That's why I'm not working full-time till now and chose to do an MBA. 1000 00:50:57,920 --> 00:51:00,000 I'm just waiting for the right time to tell them 1001 00:51:00,080 --> 00:51:01,480 that I want to do this full-time. 1002 00:51:01,560 --> 00:51:03,760 - And I hope this is the right time. - They'll find out today. 1003 00:51:03,800 --> 00:51:04,800 Yes. 1004 00:51:05,720 --> 00:51:06,840 Okay. This is great. 1005 00:51:07,000 --> 00:51:09,520 Made in India, for India solution. 1006 00:51:09,600 --> 00:51:12,000 Does this solution exist anywhere else in the world? 1007 00:51:12,720 --> 00:51:13,920 People do make such solutions. 1008 00:51:14,000 --> 00:51:17,240 They're working on PCM and Radiative Cooling Technology. 1009 00:51:17,720 --> 00:51:20,120 We have tried their solutions. 1010 00:51:20,640 --> 00:51:24,680 We've made the required changes and bettered the user design. 1011 00:51:24,760 --> 00:51:26,280 Most people making vests in India 1012 00:51:26,360 --> 00:51:28,120 don't use the Radiative Cooling Technology. 1013 00:51:28,200 --> 00:51:30,800 The major use of these technologies is in different user cases. 1014 00:51:30,880 --> 00:51:32,640 Could you tell us the difference between the two technologies 1015 00:51:32,680 --> 00:51:34,640 and also how you're adopting both? 1016 00:51:34,720 --> 00:51:37,480 Show us your products first. That way, we'll understand better. 1017 00:51:37,760 --> 00:51:39,200 [music playing] 1018 00:51:50,000 --> 00:51:53,200 How many years ago did you start this business? 1019 00:51:54,200 --> 00:51:55,720 We met about 1.5 years ago. 1020 00:51:55,840 --> 00:51:57,240 Sir, March 2023. 1021 00:51:57,440 --> 00:51:59,320 Coming to your vest, 1022 00:51:59,440 --> 00:52:01,360 what do you think you're doing uniquely 1023 00:52:01,440 --> 00:52:03,560 that makes this proposition strong? 1024 00:52:03,880 --> 00:52:07,760 The body loses 60-70% of its heat through radiation. 1025 00:52:07,920 --> 00:52:10,280 There exists a human body heat balance equation. 1026 00:52:10,400 --> 00:52:11,680 When you're sitting, 1027 00:52:11,760 --> 00:52:14,560 your body generates 50 watts of heat. 1028 00:52:15,440 --> 00:52:19,360 If you lose more than 50 watts, you'll feel cold. 1029 00:52:19,640 --> 00:52:21,800 However, when you exercise, 1030 00:52:21,880 --> 00:52:24,080 you generate 600 watts of heat. 1031 00:52:25,160 --> 00:52:28,360 If the heat lost and generated are not equal, 1032 00:52:28,520 --> 00:52:30,160 then you start feeling hot. 1033 00:52:30,280 --> 00:52:33,440 So, we're trying to cool the body using two methods. 1034 00:52:33,520 --> 00:52:34,520 One is radiation. 1035 00:52:34,640 --> 00:52:36,720 We've used radiative material here 1036 00:52:36,840 --> 00:52:40,800 which speeds up your body's radiation. 1037 00:52:41,600 --> 00:52:44,240 Let me explain how radiative material works using a photo. 1038 00:52:45,280 --> 00:52:46,520 A radiative material... 1039 00:52:46,600 --> 00:52:48,960 - Take any regular material, this for instance. - Hmm. 1040 00:52:49,080 --> 00:52:51,040 Now, in regular materials... 1041 00:52:51,120 --> 00:52:54,120 There's an atmospheric temperature and the temperature in space. 1042 00:52:54,280 --> 00:52:56,480 The radiation from normal materials 1043 00:52:56,560 --> 00:52:58,880 mostly interacts with the atmosphere. 1044 00:53:00,040 --> 00:53:03,480 So, its temperature is around atmospheric or ambient temperature. 1045 00:53:03,600 --> 00:53:05,440 If we coat this with a radiative material, 1046 00:53:05,600 --> 00:53:08,360 rather than interacting with the atmosphere, 1047 00:53:08,480 --> 00:53:11,160 that material will interact with space 1048 00:53:11,360 --> 00:53:13,720 given the wavelength of the radiation. 1049 00:53:14,440 --> 00:53:15,600 Tell me something, Ankush. 1050 00:53:15,720 --> 00:53:19,840 - Radiative materials reflect external heat. - Correct. 1051 00:53:19,920 --> 00:53:22,840 But doesn't your body heat get trapped inside? 1052 00:53:23,320 --> 00:53:25,800 Yes, sir. You're right. Body heat does get trapped. 1053 00:53:25,880 --> 00:53:29,760 The Phase Changing Material will melt due to that heat. 1054 00:53:29,920 --> 00:53:30,960 So, on account of the melting, 1055 00:53:31,000 --> 00:53:32,760 the temperature of the PCM remains constant. 1056 00:53:33,600 --> 00:53:37,240 Shouldn't we think about innovating the design 1057 00:53:37,360 --> 00:53:40,960 to allow the body heat to escape 1058 00:53:41,080 --> 00:53:43,560 while giving a cooling effect at the same time? 1059 00:53:44,360 --> 00:53:46,760 But the fundamental problem in this 1060 00:53:46,880 --> 00:53:50,040 is that ice packs last for an hour or two 1061 00:53:50,120 --> 00:53:51,720 because they've been allowed to freeze. 1062 00:53:51,800 --> 00:53:54,400 Here, you can't freeze them or we'll feel too cold. 1063 00:53:54,480 --> 00:53:57,560 So, even after refrigeration, this has become room temperature. 1064 00:53:57,640 --> 00:53:59,480 So, even that will become warm in half an hour. 1065 00:54:01,080 --> 00:54:04,520 We have three variants. 22°C, 24°C and 29°C. 1066 00:54:04,600 --> 00:54:06,040 That's its freezing point. 1067 00:54:06,160 --> 00:54:08,680 So, it will always stay at 22°C... 1068 00:54:08,760 --> 00:54:11,560 - Not always, but a few hours. - Yes, 3-4 hours. 1069 00:54:16,560 --> 00:54:18,680 Sir, could I take a look at that for a moment, please? 1070 00:54:20,840 --> 00:54:22,160 Sir, this one 1071 00:54:22,920 --> 00:54:24,560 is at 22°C. 1072 00:54:25,360 --> 00:54:26,960 This one's at 24°C... 1073 00:54:27,280 --> 00:54:29,320 - I want to compare 22°C and 24°C. - Got it. 1074 00:54:29,400 --> 00:54:31,120 - Is it colder? - Yes, there's a difference. 1075 00:54:31,360 --> 00:54:32,440 This is 24°C. 1076 00:54:32,880 --> 00:54:33,960 This is 22°C. 1077 00:54:35,280 --> 00:54:37,440 We're working on a new design. 1078 00:54:38,560 --> 00:54:39,960 This is the new design. 1079 00:54:40,080 --> 00:54:41,360 It won't have packets. 1080 00:54:41,440 --> 00:54:43,240 The structure will be made of silicone. 1081 00:54:43,320 --> 00:54:46,880 It will contain the Phase Changing Material. 1082 00:54:47,400 --> 00:54:50,720 Gosh! This looks like fashion clothing. 1083 00:54:50,840 --> 00:54:52,080 [Sharks laugh] 1084 00:54:52,160 --> 00:54:56,320 Are the gaps we see meant for heat dissipation? 1085 00:54:56,440 --> 00:54:57,920 No, you've to wear it inside. 1086 00:54:58,000 --> 00:54:59,040 - Like we... - Hey! 1087 00:54:59,360 --> 00:55:02,880 Do you know the vests we wear get worn out after a few years? 1088 00:55:03,240 --> 00:55:04,600 It's the same look! 1089 00:55:04,680 --> 00:55:07,240 Why are you making it again? It's the same thing. 1090 00:55:07,320 --> 00:55:09,400 No, sir. Let me explain it to you. 1091 00:55:09,880 --> 00:55:12,240 We tested the product with delivery boys too. 1092 00:55:12,320 --> 00:55:14,920 We piloted with Zomato and Swiggy. 1093 00:55:15,560 --> 00:55:18,280 We took feedback from 30 to 40 people. 1094 00:55:18,680 --> 00:55:19,800 This was the main problem. 1095 00:55:19,880 --> 00:55:21,080 There are nine packets 1096 00:55:21,160 --> 00:55:23,400 and you've to individually take them out and freeze them. 1097 00:55:23,520 --> 00:55:25,800 That hampers the user experience. 1098 00:55:26,440 --> 00:55:29,000 As Namita mentioned, it's bulky as well. 1099 00:55:29,120 --> 00:55:31,440 So, we are working on the new design now 1100 00:55:31,680 --> 00:55:34,120 where it's a single structure instead of nine packets. 1101 00:55:34,200 --> 00:55:36,400 It can fold into a box. 1102 00:55:36,800 --> 00:55:38,600 You don't need to put it in the fridge. 1103 00:55:38,680 --> 00:55:41,720 It will stay stored in a box when not in use 1104 00:55:41,800 --> 00:55:43,080 and will charge automatically. 1105 00:55:43,160 --> 00:55:46,040 Then simply take it out of the box and wear it when needed. 1106 00:55:47,600 --> 00:55:50,920 What's your vision 3 or 5 years down the line? 1107 00:55:51,000 --> 00:55:53,080 How big a business will this become? 1108 00:55:53,800 --> 00:55:54,800 Sir, after 5 years, 1109 00:55:54,840 --> 00:55:58,400 our target is to get sales of at least Rs. 1,000 crores 1110 00:55:58,560 --> 00:55:59,640 and we'll definitely do it. 1111 00:55:59,680 --> 00:56:01,800 In 10 years, the target is to achieve Rs. 10,000 crores 1112 00:56:01,800 --> 00:56:03,440 with the vest and other products too. 1113 00:56:03,560 --> 00:56:04,720 Take me on board! 1114 00:56:05,120 --> 00:56:06,320 [laughter] 1115 00:56:06,400 --> 00:56:07,400 As they say, 1116 00:56:07,440 --> 00:56:11,000 "More fiction has been written in Excel than in MS Word." 1117 00:56:12,240 --> 00:56:14,720 Who else works with you apart from you three? 1118 00:56:14,840 --> 00:56:17,840 Sir, my brother is in IIT Delhi and works on the technology. 1119 00:56:18,920 --> 00:56:20,400 Have you received any grants? 1120 00:56:20,520 --> 00:56:21,360 - Yes. - Yes, sir. 1121 00:56:21,480 --> 00:56:22,680 What's the value? 1122 00:56:22,880 --> 00:56:24,040 Rs. 54 lakhs in total. 1123 00:56:24,120 --> 00:56:25,400 - Oh! - Oh, wow! 1124 00:56:26,400 --> 00:56:27,200 From who? 1125 00:56:27,280 --> 00:56:30,320 Sir, we were the winners of Samsung Solve for Tomorrow. 1126 00:56:30,400 --> 00:56:31,840 - When did you get it? - Right. 1127 00:56:31,960 --> 00:56:33,400 October 2023. 1128 00:56:33,520 --> 00:56:35,480 Have you applied for any other grants? 1129 00:56:36,480 --> 00:56:38,320 We got a grant from Emergent Ventures also. 1130 00:56:38,440 --> 00:56:40,160 - How much? - Rs. 2.5 lakhs. 1131 00:56:44,200 --> 00:56:46,280 From our sir Pankaj Jhunja. 1132 00:56:46,480 --> 00:56:48,880 He's Head, Mobility Innovation Hub, Tata Motors. 1133 00:56:48,960 --> 00:56:50,840 He worked there for 34 years. 1134 00:56:50,920 --> 00:56:53,720 Then there's Alexander of Third Derivative. 1135 00:56:53,800 --> 00:56:57,640 He's the world's... He invests in ClimateTech Startups. 1136 00:56:57,720 --> 00:57:00,480 Alexander oversees technology there. 1137 00:57:00,560 --> 00:57:02,120 - He's our mentor. - Nice. 1138 00:57:02,280 --> 00:57:04,120 Then there's Jayshree, 1139 00:57:04,200 --> 00:57:07,400 the Product Marketing Head at Samsung. 1140 00:57:07,600 --> 00:57:10,720 Do either of them spend time with you regularly? 1141 00:57:10,840 --> 00:57:12,000 Mr. Pankaj Jhunja. 1142 00:57:12,080 --> 00:57:13,400 - From Tata? - Yes. 1143 00:57:13,560 --> 00:57:14,400 Got it. 1144 00:57:14,520 --> 00:57:17,960 It's good to know you're thinking so far ahead 1145 00:57:25,000 --> 00:57:26,120 So, hats off to you. 1146 00:57:26,320 --> 00:57:27,960 We didn't talk much about 1147 00:57:28,040 --> 00:57:32,760 the problems faced by the users and how they'd use the product. 1148 00:57:32,840 --> 00:57:37,200 I think you ought to pay more attention to that. 1149 00:57:37,760 --> 00:57:40,800 More a little bit maybe also on the business side. 1150 00:57:40,920 --> 00:57:42,440 That would be my advice to you. 1151 00:57:42,520 --> 00:57:45,320 Because this seems like a research project, 1152 00:57:46,320 --> 00:57:47,680 I don't know what value I can add. 1153 00:57:47,720 --> 00:57:49,760 You already have quite a few mentors. 1154 00:57:50,960 --> 00:57:53,600 So, good luck. I hope you build something great 1155 00:57:53,760 --> 00:57:56,480 and solve the problems of our labourers. Good luck. 1156 00:57:56,560 --> 00:57:57,720 - Thank you. - Thank you, sir. 1157 00:57:58,760 --> 00:58:01,760 Your Campus Special pitch today 1158 00:58:02,360 --> 00:58:04,720 has taught three things to other college students. 1159 00:58:05,520 --> 00:58:07,160 One, the power of networking. 1160 00:58:07,280 --> 00:58:08,760 You got connected through Y-Combinator 1161 00:58:13,200 --> 00:58:14,920 The second is the power of mentorship. 1162 00:58:15,000 --> 00:58:17,880 Rs. 54 lakhs in grants is no joke. 1163 00:58:17,960 --> 00:58:19,840 And third is the power of rebellion. 1164 00:58:19,920 --> 00:58:23,200 Your rebellion and technology 1165 00:58:23,560 --> 00:58:26,880 will help coal mine workers and construction workers. 1166 00:58:27,000 --> 00:58:31,800 I'm sure they'll solve India's real bottom-of-the-pyramid issues. 1167 00:58:33,040 --> 00:58:34,560 However, it's too early for me. 1168 00:58:34,680 --> 00:58:36,280 When your new product is ready, 1169 00:58:36,360 --> 00:58:37,520 we will meet again 1170 00:58:37,600 --> 00:58:38,680 but for today, I'm out. 1171 00:58:40,600 --> 00:58:43,400 I'm out in the sun all day. 1172 00:58:43,520 --> 00:58:45,800 I get sunburned from the scorching heat. 1173 00:58:45,880 --> 00:58:48,280 Sometimes, the run gets over at 11 and 12 pm. 1174 00:58:48,400 --> 00:58:52,560 I look for cooling fabric all across the globe. 1175 00:58:53,240 --> 00:58:56,160 Mainstream brands offer Climacool shirts 1176 00:58:56,240 --> 00:58:59,000 where radiative cooling is used in the fabric by the way. 1177 00:59:02,760 --> 00:59:05,480 You could be a make-in-India innovation 1178 00:59:05,560 --> 00:59:09,240 that sells this for Rs. 500 to 600 eventually. 1179 00:59:09,320 --> 00:59:12,160 I think you can solve your problem but you're not there yet. 1180 00:59:13,200 --> 00:59:14,680 But before that, 1181 00:59:14,800 --> 00:59:18,240 please don't make stories on Excel about a Rs. 10,000-crore business. 1182 00:59:18,320 --> 00:59:19,720 First, get your product right. 1183 00:59:19,800 --> 00:59:21,400 Best of luck. Right now, I'm out. 1184 00:59:23,120 --> 00:59:25,520 Our dreams shape our destinies. 1185 00:59:26,200 --> 00:59:27,680 You dreamt big 1186 00:59:31,920 --> 00:59:35,120 Currently, I feel it will take you time to get repeats 1187 00:59:35,280 --> 00:59:38,200 given the state of your current business. 1188 00:59:39,320 --> 00:59:40,800 For that reason, I am out. 1189 00:59:41,320 --> 00:59:42,480 I wish you all the very best. 1190 00:59:42,520 --> 00:59:43,520 Okay, sir. 1191 00:59:43,640 --> 00:59:44,880 It was great to meet you 1192 00:59:44,960 --> 00:59:48,200 and it feels great that our students 1193 00:59:48,360 --> 00:59:51,200 aspire to make invention-led start-ups. 1194 00:59:51,280 --> 00:59:52,480 I would encourage you 1195 00:59:52,560 --> 00:59:55,520 to set a plan for the next four quarters. 1196 00:59:55,600 --> 00:59:58,000 By the first or second quarter, 1197 00:59:58,080 --> 01:00:02,120 you have to bring the product to a ready-to-sell stage. 1198 01:00:03,440 --> 01:00:04,800 Third quarter from now, 1199 01:00:05,200 --> 01:00:07,440 let's assume you want sales of Rs. 5 lakhs. 1200 01:00:07,560 --> 01:00:09,040 Plan backwards from there. 1201 01:00:09,160 --> 01:00:10,880 What needs to be achieved today, 1202 01:00:10,960 --> 01:00:13,720 next week and next month. 1203 01:00:14,520 --> 01:00:15,720 That's how companies are made. 1204 01:00:15,840 --> 01:00:16,920 Wish you all the best. 1205 01:00:17,000 --> 01:00:18,200 - Today, I am out. - Thank you. 1206 01:00:32,720 --> 01:00:33,960 But sometimes I feel, 1207 01:00:34,040 --> 01:00:36,080 aren't they a little rough around the edges? 1208 01:00:36,160 --> 01:00:37,480 Maybe it's the stress, you know? 1209 01:00:37,680 --> 01:00:42,000 So, I've decided to organise a pitch workshop here. 1210 01:00:42,320 --> 01:00:45,480 Some... You know, those final tips and tricks from yours truly! 1211 01:00:45,600 --> 01:00:46,760 I attended business school after all. 1212 01:00:46,760 --> 01:00:49,000 I ought to put my master's degree to some use. 1213 01:00:49,160 --> 01:00:52,200 Let me order some workshop essentials from Swiggy Instamart. 1214 01:00:52,280 --> 01:00:55,400 And I know Aashish is not going to do this, so I shall. 1215 01:00:55,680 --> 01:00:57,320 First, supplies. 1216 01:00:57,640 --> 01:01:01,680 We are going to order some diaries, markers... 1217 01:01:01,920 --> 01:01:04,400 Let me order a lot of stationery. 1218 01:01:04,480 --> 01:01:07,360 Staplers, highlighters... Yes! 1219 01:01:07,880 --> 01:01:09,560 And an energy bar for me 1220 01:01:09,640 --> 01:01:11,080 because I'm going to be the teacher. 1221 01:01:11,160 --> 01:01:12,560 Done. Order placed. 1222 01:01:12,720 --> 01:01:15,280 Guys, go to Swiggy Instamart. They've got everything. 1223 01:01:15,360 --> 01:01:17,840 It's actually incredible and it arrives in ten minutes. 1224 01:01:17,920 --> 01:01:19,680 Wish me luck for my first session. 1225 01:01:19,880 --> 01:01:21,000 Go on and order now. 1226 01:01:21,480 --> 01:01:24,440 'Shark Tank India co-presented by ACKO Insurance,' 1227 01:01:24,520 --> 01:01:26,560 'PokerBaazi and Swiggy Instamart.' 1228 01:01:26,680 --> 01:01:29,280 'Co-powered by Adani and Jaquar Bath & Light,' 1229 01:01:29,400 --> 01:01:33,200 'and partners Rayzon Solar, ICICI Direct and Lenskart.' 1230 01:01:33,440 --> 01:01:34,600 [music playing] 1231 01:01:38,440 --> 01:01:40,840 Jaquar presents Bringing Good Ideas To Life. 1232 01:01:44,560 --> 01:01:47,520 Not only that, they've also shown a renewed perspective 1233 01:01:47,720 --> 01:01:51,240 that they're going to create a huge ripple effect in our society. 1234 01:01:51,440 --> 01:01:54,560 From bringing about change through new innovations 1235 01:01:54,640 --> 01:01:57,240 to empowering local and artist communities 1236 01:01:57,320 --> 01:01:58,480 with their skills, 1237 01:01:58,560 --> 01:02:00,800 every pitcher did something different. 1238 01:02:01,080 --> 01:02:03,360 I know you didn't miss a thing, 1239 01:02:03,440 --> 01:02:05,640 but shouldn't you refresh your memory? 1240 01:02:05,840 --> 01:02:07,240 Yes? So, let's have a look. 1241 01:02:07,520 --> 01:02:09,280 [upbeat music playing] 1242 01:02:11,360 --> 01:02:13,160 At FundooLabs, we make 1243 01:02:13,240 --> 01:02:16,160 Chemistry-based DIY scientific and sensory toys. 1244 01:02:16,240 --> 01:02:19,480 This must look like pink water to you. 1245 01:02:19,560 --> 01:02:21,480 When you take it in your hands, 1246 01:02:21,560 --> 01:02:25,080 - you get a really unique sensation. - Whoa! 1247 01:02:25,240 --> 01:02:27,720 I can play with this all day. 1248 01:02:27,800 --> 01:02:28,720 - Whoa! - Oh! 1249 01:02:28,800 --> 01:02:30,800 You're the real Santa Claus without a beard. 1250 01:02:30,880 --> 01:02:32,160 [all laugh] 1251 01:02:32,240 --> 01:02:33,960 You get everything in the cities 1252 01:02:34,040 --> 01:02:36,040 except the taste of village food. 1253 01:02:36,400 --> 01:02:38,920 Especially our food from Bihar. 1254 01:02:39,040 --> 01:02:41,800 Be it the 'litti chokha' your mother makes 1255 01:02:41,880 --> 01:02:45,760 - or the aroma of mutton cooked on a low flame. - Right. 1256 01:02:45,840 --> 01:02:47,480 To plug this gap, 1257 01:02:47,560 --> 01:02:49,320 we started Gaon in 2017, 1258 01:02:49,400 --> 01:02:50,880 a multi-brand food company. 1259 01:02:51,000 --> 01:02:52,640 Are all these four 'littis' fried? 1260 01:02:52,760 --> 01:02:54,000 No, they are roasted. 1261 01:02:54,080 --> 01:02:55,960 Yet they taste so delicious! 1262 01:02:56,080 --> 01:02:57,880 [light-hearted music playing] 1263 01:02:58,520 --> 01:03:01,440 'We are from the small village of Kdonghulu' 1264 01:03:01,520 --> 01:03:03,560 'in the Ribhoi district of Meghalaya.' 1265 01:03:03,840 --> 01:03:07,760 And we mother-daughter are the founders of Eriweave. 1266 01:03:08,480 --> 01:03:11,160 At Eriweave, we are dedicated 1267 01:03:11,280 --> 01:03:14,240 to fostering sustainable economic development 1268 01:03:14,320 --> 01:03:15,600 in our community 1269 01:03:15,680 --> 01:03:18,120 by crafting eri silk yarn 1270 01:03:18,240 --> 01:03:21,440 and organic dyed hand-woven eri silk fabric 1271 01:03:21,680 --> 01:03:24,160 from the locally sourced eri silk cocoon. 1272 01:03:24,240 --> 01:03:25,480 The quality is top-notch. 1273 01:03:25,560 --> 01:03:26,560 It doesn't itch. 1274 01:03:27,400 --> 01:03:30,440 The EleFant is India's mobile app-based toy library 1275 01:03:30,560 --> 01:03:33,640 where you can become a member, get toys and books for your kids 1276 01:03:33,720 --> 01:03:36,800 and return them in exchange for something else when they get bored. 1277 01:03:36,880 --> 01:03:39,720 We decided to make healthy, gluten-free, 1278 01:03:39,800 --> 01:03:41,440 sugar-free and dairy-free desserts. 1279 01:03:41,680 --> 01:03:43,840 - So, this doesn't contain carbs or sugar. - Right. 1280 01:03:43,920 --> 01:03:45,640 - Then what does it have? - It has health! 1281 01:03:45,760 --> 01:03:47,120 The cookies are yum! 1282 01:03:47,200 --> 01:03:48,720 - Very good. - Wonderful. 1283 01:03:49,400 --> 01:03:50,720 Greenday is India's first 1284 01:03:50,800 --> 01:03:54,080 and premier biofortified food-focused company. 1285 01:03:54,320 --> 01:03:56,520 So, if we consume the rotis made of your flour daily, 1286 01:03:56,600 --> 01:03:59,280 then would my daily requirement of basic minerals 1287 01:03:59,440 --> 01:04:00,720 and vitamins be fulfilled? 1288 01:04:00,800 --> 01:04:01,800 At least 50%. 1289 01:04:02,160 --> 01:04:05,800 Vibrasense is a portable, battery-powered handheld device 1290 01:04:05,920 --> 01:04:07,520 that quantifies 1291 01:04:07,600 --> 01:04:10,000 the loss of sensation in the body within five minutes. 1292 01:04:10,160 --> 01:04:11,280 Tell us about your journeys. 1293 01:04:11,360 --> 01:04:13,960 I studied Economics at Delhi College of Arts & Commerce 1294 01:04:14,040 --> 01:04:16,880 whereas Karan studied Economics at St. Stephen's College. 1295 01:04:17,240 --> 01:04:19,040 I graduated in product design. 1296 01:04:19,120 --> 01:04:20,960 I'm a 2010 pass-out chartered accountant. 1297 01:04:21,200 --> 01:04:22,920 I'm a company secretary and lawyer. 1298 01:04:23,040 --> 01:04:25,120 Your governance and compliance must be solid! 1299 01:04:25,200 --> 01:04:26,480 [Anupam laughs] 1300 01:04:26,720 --> 01:04:27,920 Please tell us about your business. 1301 01:04:27,960 --> 01:04:31,840 - We've done about 2.5 crores in sales from January until now. - Wow. 1302 01:04:32,120 --> 01:04:35,560 We have done Rs 1,57,50,000. 1303 01:04:35,680 --> 01:04:38,200 The net profit that remains is 39%. 1304 01:04:38,280 --> 01:04:39,360 Unbelievable. 1305 01:04:39,440 --> 01:04:40,680 I'll give you an offer. 1306 01:04:42,640 --> 01:04:44,360 [music playing] 1307 01:04:44,880 --> 01:04:46,440 Rs 60,00,000 for 10%. 1308 01:04:47,080 --> 01:04:49,280 Rs 60,00,000 at 8% would be fair. 1309 01:04:49,360 --> 01:04:51,040 Yes, Sharks. The deal is final. 1310 01:04:51,160 --> 01:04:52,760 Let's do it. 1311 01:04:53,000 --> 01:04:54,080 - All right. Done deal. - Done deal. 1312 01:04:54,080 --> 01:04:55,640 - The deal is done. - Just do this. - The deal is final. 1313 01:04:55,640 --> 01:04:57,320 - The deal is final. - Yes. 1314 01:04:57,960 --> 01:05:00,600 - Say it this way, 'The deal is final.' - 'The deal is final.' 1315 01:05:01,880 --> 01:05:04,600 You are GOAT and I have boAt. 1316 01:05:04,680 --> 01:05:05,680 [laughing] 1317 01:05:05,720 --> 01:05:07,080 - The deal is final. - That's great. 1318 01:05:07,120 --> 01:05:08,680 - Lovely. - Congrats. Let's go. 1319 01:05:10,960 --> 01:05:12,960 [music playing] 1320 01:05:17,920 --> 01:05:20,680 All the pitchers have proved one thing. 1321 01:05:20,760 --> 01:05:24,400 Made in India, for the world. Like Jaquar. 1322 01:05:28,880 --> 01:05:30,320 Hello and welcome to 'Ask The Shark.' 1323 01:05:35,960 --> 01:05:39,400 We have the founder and CEO of Shaadi.com and People Group, 1324 01:05:43,720 --> 01:05:45,720 I think you'll find the question very interesting. 1325 01:05:45,840 --> 01:05:48,440 Today's question has been sent by Ravi Kumar 1326 01:05:48,520 --> 01:05:49,400 - from Gorakhpur. - Hi, Ravi. 1327 01:05:49,520 --> 01:05:51,000 He's from Gorakhpur and is 37 years old. 1328 01:05:51,040 --> 01:05:52,040 His question is..., 1329 01:06:09,440 --> 01:06:11,920 Quick money-making schemes 1330 01:06:13,160 --> 01:06:15,760 are only schemes. They are not reality. 1331 01:06:15,840 --> 01:06:19,280 Sometimes we hear stories like, 1332 01:06:20,200 --> 01:06:22,520 'He purchased this stock' 1333 01:06:22,600 --> 01:06:24,440 'and it multiplied 100 times and he earned one crore rupees.' 1334 01:06:24,480 --> 01:06:26,680 'He purchased Bitcoin and earned five crores.' 1335 01:06:27,040 --> 01:06:30,560 But these are very rare and these are only half-truths. 1336 01:06:30,680 --> 01:06:32,320 We don't know the entire story behind it. 1337 01:06:32,400 --> 01:06:36,360 No one tells you how much money he lost later on. 1338 01:06:36,840 --> 01:06:40,360 I don't pay attention to all these things. 1339 01:06:40,680 --> 01:06:42,720 How to get rich quickly? 1340 01:06:42,800 --> 01:06:45,360 I won't be able to explain it to you, unfortunately. 1341 01:06:45,440 --> 01:06:47,000 What I can tell you 1342 01:06:47,280 --> 01:06:51,880 is if you develop your capabilities 1343 01:06:51,960 --> 01:06:53,480 and focus on yourself 1344 01:06:53,560 --> 01:06:55,680 which is a dire necessity in the world. 1345 01:06:56,200 --> 01:06:59,280 For example, these days 1346 01:06:59,440 --> 01:07:01,560 we have a shortage of AI engineers. 1347 01:07:02,160 --> 01:07:04,920 Uh... Prompt engineers 1348 01:07:05,000 --> 01:07:09,160 with whose help you can run AI, ChatGPT. We need them. 1349 01:07:09,240 --> 01:07:11,120 We need digital marketers. 1350 01:07:11,240 --> 01:07:13,840 Because everything is being sold online. 1351 01:07:48,560 --> 01:07:49,800 ...but that's the truth. 1352 01:07:49,880 --> 01:07:50,680 He wanted money. 1353 01:07:50,760 --> 01:07:52,880 He wanted free money. I don't have that. 1354 01:07:53,000 --> 01:07:55,960 No problem. But you gave a very good answer. Thank you so much for the answer. 1355 01:07:56,000 --> 01:07:59,120 We'll meet you in the next 'Ask the Shark' with a new question and a new Shark.