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Lingham joins co-CEO of The Creative Council, CEO of The Beancounter, Gil Oved, Marnus Boordyk, and CEO at Europcar and Imperial Car rental division, Dawn Nathan-Jones on the judging panel.
The show’s setup features entrepreneurs pitching their business ideas to the panel of judges for funding. The Sharks may then decide to invest in the idea, or decline. If more than one Shark decides to invest, the contestant will need to decide who they’re going with.
Lingham is no stranger to this type of TV show. In 2014, he joined Lebo Gunguluza, Vusi Thembekwayo, Polo Leteka Radebe, and upcoming Shark Tank co-star, Oved, on the South African version of Dragons’ Den, which lasted for two seasons.
In an interview with TVSA, Lingham says Shark Tank is a “turbo-loaded” version of Dragons’ Den.
When asked about what he was looking for in an entrepreneur, Lingham said he wants someone who owns their own intellectual property and isn’t simply a reseller of someone else’s goods. He is also looking for entrepreneurs who aren’t afraid to take risks.
“Passion, intelligence and commitment to their mission is a prerequisite for me.”
Shank Tank initially aired in 2009 on the US television channel, ABC. Both the show and Dragons’ Den are based on the 2001 Japanese show, Money Tigers.
Submissions for the show are still open and those wanting to participate have until 31 July to do so. Entrants may submit more than one business pitch, but will need to record a 60-second video per pitch. More information and entries can be found on the M-Net website.
Shark Tank South Africa will air on 2 October on the M-Net channel.