Shark Tank billionaires set for hunting spree in Kenya

Kenya’s budding entrepreneurs may have a chance to learn more from three American billionaires famed for starring in an investment reality show, Shark Tank.

Organisers of the upcoming 6th Global Entrepreneurship Summit (GES) confirmed on Tuesday that the three sharks; Barbara Corcoran (66), Daymond John (49) and Mark Cuban (56) will be among the 3,000 delegates set to converge in Nairobi next week.

The summit, the first in sub-Saharan Africa and which will be attended by US President Barack Obama, will bring together business leaders, policymakers and investors.

“The Shark Tank team will be represented by @TheSharkDaymond @BarbaraCorcoran and @mcuban,” the official Twitter page of the GES organising team announced on Tuesday referring to the Twitter pages of the three.

The reality show often features five investors known as Sharks: Robert Herjavec, Daymond John, Mark Cuban, Barbara Corcoran and Kevin Harrington.

In the show, upcoming entrepreneurs present their business ideas to Sharks; five business leaders who have a background of rising from small enterprises to global ventures. Competitors try to win over the investors so they can put money in their ideas. If one of the five panelists gets interested in the idea, it often arouses bids from the rest, making the idea to look more lucrative and rise in value.

Often, all pitches receive prizes but winning the competition does not often guarantee investment breakthrough as further vetting is required. It is often a bad day for entrepreneurs if none of the panelists shows interest.

The coming of the three billionaires known on the show as Sharks could indicate their interest in Kenya’s investment opportunities. They are thought to have a joint net worth of $3.9 billion from their various investments.

They may have been known here mostly because of the Shark Tank show whose episodes were televised by NTV. But they are also investors, authors and motivational speakers.

Ms Barbara Corcoran is the founder of Barbara Corcoran Venture Partners. Her website indicates that she helped built the Corcoran Group, one of the largest real estate companies in New York.

“Barbara is an expert in the art of leading a team to success and in how to build a successful business,” declares a statement on her website which has a quote about taking chances.

Mark Cuban, owns the Dallas Mavericks basketball team and is also an entertainment investor. Mr Daymond John is the Chief Executive of FUBU fashion line, a company he founded. Mr John is also the US Presidential Ambassador for Global Entrepreneurship and calls himself a “keynote speaker.”