Exclusive: Entrepreneur Ajinkya Dhariya on getting blank cheque offer from Peyush Bansal in Shark Tank India 2, says ‘I went blank for a few seconds’
26-year-old entrepreneur Ajinkya Dhariya created a storm with his pitch in Shark Tank India 2. The founder of the sanitary napkin disposer impressed the Sharks with his vision and got more than he asked for. ETimes TV caught up exclusively with the entrepreneur to speak about how he felt with all the Sharks fighting to get his deal, Peyush Bansal offering him a blank cheque and more.
How has the response been so far post Shark Tank India 2?
We are riding on the wave of excitement as well as responsibility because we took a step to break the taboo around menstrual hygiene management in both ways. It’s an exciting time for any kind of start-up. It is a good time for social entrepreneurship startups like us.
What was going on in your mind when the Sharks were fighting for the deal and Peyush was running towards you with a blank cheque?
Being frank, the intent behind going on the Shark Tank was very clear for me. We wanted to convey our vision to the world. The sudden excitement that started coming from the Sharks, Peyush giving a blank cheque… the show is not about the numbers, it is of the belief of the system in our work. I was a little bit blank for a couple of seconds when I saw the Sharks fighting among themselves.
Behind-the-scenes moments of your pitch from Shark Tank India 2
Overall, the process was very smooth. I applied in the month of May (2022) and then we had a first interview round. There was another screening in person with the team. We had 30 mins and within that we had to pitch what we were doing. The initial 3 mins are very important to make the perfect pitch. The remaining 27 minutes are QnA. It can extend and that’s the time we get to interact with the Sharks. The excitement is hidden in those 30 minutes. Behind the scenes, there was a preparation about how we want to position our products, how we should pitch, the key parameters we have to mention. IIM Bangalore's NSRCEL team also helped us to refine what we guys are doing. We had a couple of days stay for the shoot and the entire process was very comfortable.
What were the challenges back then you faced while setting up this start-up?
Challenges varied on the stages that we were on. The first major challenge starts with the founder’s mentality, our own psychology. To come out of the comfort zone and believe in what we are doing. The second problem we faced was during market research. I interacted with over 2000 women to talk about the issues they were facing and not everyone opened up. The third challenge was getting the right team. And I was lucky to find a team, who pushed me beyond my boundaries. In a nutshell, we faced different challenges at different stages.
How far have you progressed after you got the deal?
Post Shark Tank shoot we have been growing almost 1.5X to 2X. From a 16 members team we are now 42 members across India. We have our set up in Pune, Delhi, Bangalore, Hyderabad, Chennai. We are prepared in terms of inventory. I never imagined I would get this type of response from the market. We got massive website hits.
Post Shark Tank deal, how have the Sharks gotten involved?
The team gets in touch on how they can get involved in bringing value to the project. There is no standard rule set. We are still in the discussing phase. Things are going in a positive way.
How has the entire Shark Tank experience helped you in your project?
Our entire aim was to reach every household and individuals. Cumulatively, this entire episode might have been watched by more than crores of people across India and global platforms as well. What we did was to poke and trigger the talk about menstrual hygiene in the household. The next thing is to solve the challenges.
During the pitch, was there any nervousness?
Obviously! In the previous seasons we have seen how it goes. It’s not that all are happy. There are ups and downs. No one can judge how anyone is going to react. It’s a very limited time. I was nervous and skeptical. But when 3 mins was over, I slowly started getting comfortable as all the Sharks were really caring about the environment and menstrual hygiene.
Were you open to any kind of deal or had thought of going with any particular Shark?
I went just for Peyush Bansal and Namita Thapar and got most of the Sharks together.
For the unversed, Ajinkya got four sharks deal of Rs 1 crore for 4% equity with Peyush Bansal, Namita Thapar, Vineeta Singh and Anupam Mittal.
His family’s reaction on Shark Tank India 2 success
Post Shark Tank India, they were really excited and happy. They were proud. They didn’t know how my pitch went. Their video was shot for the episode, but they didn't know about my interview. They were happy about the four Shark deal and the blank cheque offer.
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