Click here to follow Screen Digital on YouTube and stay updated with the latest from the world of cinema.
© IE Online Media Services Pvt Ltd
Tags:
A mother-daughter duo of entrepreneurs from ‘a village in Meghalaya’ pitched their handwoven fabric brand Eriweave on the latest episode of Shark Tank India. It turned out to be the most emotional pitch of the ongoing fourth season of the show. The founders told the panel of ‘sharks’ that they aim to revive a dying tradition that was handed down from mothers to their daughters, and along with it, they want to empower local women to earn livelihoods for themselves. The mother, Iaishah, told the ‘sharks’ that she got married at the age of 20, and struggled financially after leaving the difficult relationship. She said that she raised four daughters on her own by working extra hard.
She said that she works as a teacher, and builds her business in her spare time. But she said that she is also struggling to repay a Rs 35 lakh loan, because every rupee that they earn is paid out to the artisans who work with them, and is used to pay back the loan. “I understand the value of Rs 100,” she said, as she recalled earning extra income by weaving to support her daughters. Iaishah said that she doesn’t know how to set up a website and list her products on Amazon, and Vineeta Singh offered to help her out with these issues. “I promise you, the moment you set up your website, you’ll earn Rs 20 lakh in two days. The viewers of this episode would love to buy your products, but they simply can’t at this stage,” she said.
Peyush Bansal praised the fabric, and said that he felt warmth as he put on his scarf. But he didn’t invest, and backed out of the deal along with Vineeta. Aman Gupta backed out as well, but praised the quality of the scarf he was presented with by the founders. They informed the viewers that their process of extracting yarn is more humane than conventional methods. “The way we extract the yarn is gentle because we don’t kill the silk worm,” Iaishah said. Listening to her story, the entire panel of ‘sharks’ was moved.
Anupam Mittal said, “Sometimes, with these businesses, to create demand, you have to lose money before you start making any money. But today, you don’t have any money to lose. And if you take more debt, it’ll be a huge risk, because then, you won’t be able to pay your loan.” He continued, “I don’t think this is a business yet. But I also believe that everyone should get an opportunity. We think of ourselves as hotshots because we built big businesses. But that’s only because we were given an opportunity. Either we had education, because our parents could afford it. Somebody had a mentor. A VC backed somebody. But a lot of people simply don’t have the opportunity. Agar mauka hi nahi milega toh aap chauka kaise maaroge? Sometimes, that’s the fundamental difference between someone who is successful and someone who is not.”
Namita Thapar added to Anupam’s point, “The natural response is to say, ‘I’m out’, but as sharks, we have a responsibility. Today’s episode can be an example to many, many women. You’re a role model to many women. We’ll build Amazon together. I’m going to give you what you asked for, because I want people like you to show the rest of the country that a lot can happen from small villages, and a lot can be done by women in the country.”
Listening to Namita, Iaishah couldn’t help but tear up. “I hope they’re tears of joy,” Namita said, as she offered the mother-daughter a deal. Anupam asked Namita if she’d be okay with him joining her, and the two of them happily gave Iaishah and her daughter Rs 20 lakh for 12% equity. Following the shoot, they also managed to set up their website: http://www.eriweave.in.
Click here to follow Screen Digital on YouTube and stay updated with the latest from the world of cinema.
