‘Not designed for ratings alone’: Raj Nayak on Ideabaaz vs Shark Tank

New Delhi: “Ideabaaz is not designed for ratings alone. Its real purpose is to give startups a genuine platform to raise capital and showcase their products,” says Raj Nayak, as he makes his long-awaited comeback to content after seven years.

The former Viacom18 COO, who built marquee properties like Bigg Boss and Colors into household names, is now betting on Ideabaaz, a marketplace more than a reality show, he feels, will outdo global counterparts on credibility and inclusivity. 

“On Ideabaaz, you can walk in with just an idea, and if it appeals to our titans, you could get funded. Every quarter we will publish how much money was committed, how much was actually invested, and why any deal fell through. Transparency is non-negotiable,” Nayak declares, taking a pointed dig at Shark Tank’s record on handshake closures.

The reality series will be telecast on Zee TV and Zee5, hosted by Pratik Gandhi, who is best known for portraying Harshad Mehta in the Sony LIV biographical series Scam 1992. 

The production, he stresses, is entirely in-house. “We have made no compromise on production values,” Nayak says of the team led by showrunner Kailash Gandhi, a seasoned hand behind large-scale non-fiction formats. 

Advertisers, too, have responded early, with IDFC First Bank signing on after the very first meeting and more deals in the pipeline, he said.

With a promise of quarterly transparency reports, near 50:50 gender representation among investing titans, and pitches allowed in any Indian language, Nayak positions Ideabaaz as a distinctly Indian, high-value IP.

In this exclusive interview with BestMediaInfo.com, Nayak talks about what makes Ideabaaz different from global reality formats, the confidence advertisers are showing, the revenue streams beyond advertising, and why this show marks the beginning of his second innings in content under his House of IPs portfolio.

Excerpts:

Ideabaaz marks your return to the content business after about seven years, but this time as an investor, mentor and Chief curator. What made you say yes when the idea was narrated to you by co-founders Jeet Wagh and Mudith Kumar?

When Jeet and Mudith met me two years ago through my dear friend Sabbas Joseph, what impressed me was their larger vision. They were not just thinking of a show; they wanted to build a marketplace for startups and investors. I felt there were two youngsters who genuinely wanted to do something meaningful for entrepreneurs, especially in Tier 2 and Tier 3 markets, where access to capital and mentorship is limited. 

I still remember sitting in my office with Jeet’s father, and he said, “Even if a person just has a gem of an idea, he must get funded.” That is how the name Ideabaaz came about. 

While they initially wanted me to guide and mentor them, I felt so strongly about their passion and purpose that I decided to invest in and become a part of it. The credit for this idea and the hard work of building it from scratch truly goes to Jeet and Mudith. And I must add that Sabbas has been much more than the person who made the introduction. He has invested his own capital along with his partners and is fully involved in the project. I often call him the driving force of Ideabaaz.

In what ways do you see Ideabaaz as distinctively Indian, when compared to global formats like Shark Tank?

First and foremost, our focus is on Tier 2 and Tier 3 markets. Secondly, language is at the heart of Ideabaaz. Here, you can pitch in the language of your choice. That is very Indian and very inclusive.

Shark Tank is often accused of low closure after on-air handshakes. What is your Year-1 target for handshake-to-cheque conversion?

Ideally, we would love 100 per cent closure, but realistically, we know that may not always happen. That is why Ideabaaz has built an exchange. Every quarter, we will put out a transparent update on how much money was committed, how much actually went through, and if it did not, the reasons why. If we have to build credibility, transparency is a must. Our founders are very clear on this, and it is a promise they have made.

Where does Ideabaaz beat Shark Tank on the founder journey? And as a reality show?

All our investing titans are successful business people or venture capitalists with proven track records. Secondly, our show is not designed for ratings alone. Its real purpose is to give startups a genuine platform to raise capital and showcase their products. 

On Ideabaaz, you can walk in with just an idea, and if it appeals to our titans, you could get funded. But beyond the show, the Ideabaaz marketplace will support startups with access to capital, mentorship, legal, accounting, and marketing services. That is where we stand apart.

You promised quarterly tracking. Which five metrics will be mandatory for all listed startups? Who audits these numbers, and when is the first report due?

Once the exchange is live, hopefully by the first or second week of November, you will see a detailed quarterly report on the platform. We are building a transparent system where performance is visible and measurable.

What targets are you setting for women founders, first-time entrepreneurs, and under-represented regions?

Right from season one, you will see a women’s special episode. Even our investing titans have near 50:50 representation between men and women, and that in itself sends out a powerful message. Inclusion is built into the DNA of Ideabaaz.

What factors will decide whether Ideabaaz becomes a long-term franchise or just another format experiment?

Ideabaaz is not just a show; it is an exchange and a marketplace. The show is simply a byproduct of a much bigger vision. That is why we are here to stay.

With less than a month to hit screens, how has the advertisers’ response been?

We only hit the market a couple of weeks ago, and the very first client we met, IDFC First Bank, said yes in the first meeting. That gave us a lot of confidence. We are now in active discussions with several other prospective partners.

Is advertising the sole revenue model, or are there other models such as listing fees, success fees, equity, carry, or sponsorships?

It is all of the above. We see revenue streams across advertising, sponsorships, listing fees, success fees, and equity participation.

Who is producing this show for Ideabaaz?

Everything is in-house. We have put together a strong team led by our showrunner, Kailash Gandhi. You will see that we have made no compromise on production values.

Finally, what does this show mean for Raj Nayak?

I can now claim to be a serial entrepreneur. With House of Cheer focusing on the happiness business, Ideabaaz becomes part of our House of IPs portfolio. The truth is, I have always enjoyed doing new things, and Ideabaaz gave me the opportunity to create something fresh and meaningful. 

But more than me, this is really the story of two young founders, Jeet and Mudith, who had the courage to dream big and the persistence to build it brick by brick. For me, it is about supporting their vision, democratising entrepreneurship, opening doors for founders from India’s heartland, and building a transparent marketplace where ideas can thrive. That is what excites me the most.