Amit Jain, a prominent figure on Shark Tank India, shared some intriguing behind-the-scenes details about the popular television show. Jain, who is also associated with Car Dekho, disclosed that the cheques handed out on the show immediately after a deal are not real.
During an interview with Bhanu Pathak on his YouTube channel, Jain was asked about the process through which the promised investment reaches the entrepreneurs once they receive the cheque from a shark. Responding with a laugh, Jain said, “Those cheques are fake!”
Jain explained that the cheques are symbolic and are not linked to his bank account. They are formatted by Shark Tank and personalised with the company name, his signature and the agreed amount, but they do not contain his bank account details. “The cheque signifies that a deal has happened. Then the due diligence happens, papers are called, whatever you said on the show will be verified,” he added.
Jain also gave a glimpse into what happens off-camera. During short breaks, the team of judges gathers in the lounge area. “Namita (Thapar) brings her home-cooked food. She’s like the ‘mother’ in the group. So we munch on her food, there’s a small pantry. It’s a small area but there’s a lot of fun that keeps happening. Dance, music, Aman (Gupta) brings his speakers, plays music on full volume and people dance. On the show you’re competing, not when you’re in the lounge,” he shared.
Jain emphasised his hands-on approach as an investor. He revealed that he provides his cell phone number to the entrepreneurs, allowing them to get in touch directly. “You’ll never hear about me that I’m not paying attention. If I’ve invested in a startup, I also give my time. I meet them before their pitch or rolling. We spend one and a half hours before that, where I can guide them on how to prepare before it airs. I make sure that I meet every single investee company before airing, tell them to make inventory, work on the website, track numbers,” he concluded.
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