On the latest episode of Shark Tank India, 18-year-old Reyansh presented his innovative idea, Memotag, a caregiving product designed to help people with dementia. He shared that the inspiration for Memotag came from his grandfather’s struggles with the condition. Reyansh claimed that the product, still in its concept stage, could predict behavior patterns, alert family members if a patient falls, and establish geo-fencing to prevent patients from wandering off. Additionally, the device would send reminders and allow patients to make calls. Reyansh pitched for Rs 50 lakh in exchange for 5% equity, valuing his business at Rs 10 crore.
However, Reyansh’s pitch quickly faced significant challenges. The young entrepreneur presented the sharks with an empty box and a non-functional tag, explaining that his product was still in development. This left the investors skeptical, as they had expected to see at least a working prototype. Reyansh’s attempt to demonstrate the product was based on a version that didn’t even exist yet.
Anupam Mittal and Namita Thapar, both of whom have shown interest in the healthcare sector before, initially seemed intrigued by the concept. But their enthusiasm soon faded. Anupam, with a hint of humor, remarked that “the only thing working is Reyansh,” a comment that pointed to the lack of a functional product. Namita echoed his thoughts, advising Reyansh to continue refining the product before seeking funding. She emphasized the importance of product development over rushing into pitching.
Despite claiming that he already had Rs 5 crore worth of orders, Reyansh faced more scrutiny when Anupam pointed out that not a single rupee had been transferred to him. Anupam further explained that this was not how business works, and added that Reyansh’s biggest problem was his approach. He told Reyansh that saying his product could “do everything” was not the path to success, but instead, it would lead to “a slow and painful death.” He ended his evaluation by saying he was out.
Kunal Bahl and Ritesh Agarwal also decided not to invest. They both agreed that Reyansh needed to be more focused and better prepared as a founder. Their feedback highlighted the importance of a clear, practical approach to building a business, especially in the early stages.
Vineeta Singh, who is known for her candidness, did not hold back in voicing her opinion. She admitted that she had seen numerous campus pitches but found Reyansh’s presentation the most disappointing. She criticized him for presenting a beautiful box with strong branding but no actual product inside. Vineeta was blunt, saying, “It’s a big no,” due to the lack of a tangible product and the excessive storytelling. She expressed difficulty in trusting Reyansh as a founder, given the gap between his pitch and the reality of the product.
Although Reyansh walked away from the show without any deals, he acknowledged that he received a much-needed “reality check.” His pitch had failed to meet the expectations of the sharks, who were unimpressed by the lack of a working product and the absence of proof of actual customer interest. This experience taught Reyansh a valuable lesson about the importance of focusing on product development and being transparent with investors.
The experience on Shark Tank served as a stark reminder that in the world of startups, execution is everything.