Shark Tank India: Chritesh Sinha, the founder of The Plated Project, stepped into Shark India with a philanthropic business model that promised not just profits but a positive social impact. The sight of a poor girl eating a wet chapati on the roadside was the trigger that motivated Sinha to combine commerce with a noble cause. The result? A unique enterprise that feeds 10 people for every plate sold.
Sinha began his compelling pitch with a sobering statistic – 200 million people in India sleep with an empty stomach. His unique initiative, started just 1.5 years ago, has already seen the sale of 30,000 products, translating into an incredible 550,000 meals sponsored.
An Appetite for Change: The Plated Project’s Unique Business Model
The Plated Project operates in three key areas: Souvenirs (featuring uniquely printed plates), Dinnerware (microwave-safe dishes), and Gifting. The plates, priced at a considerable INR 2,500 each, reflect the high-quality craft involved in their creation.
Sinha’s ask in Shark India was INR 75 lakhs in exchange for a 2% equity stake in his venture. He justified the seemingly high plate prices with the novel concept of combining art, utility, and charity. Buyers are not just purchasing a beautifully crafted item, but also contributing to a noble cause. This fresh perspective intrigued the sharks, leading to Sinha successfully securing his request at 3.75% equity.
A Feat that Fills Plates and Hearts
Chritesh Sinha’s pitch on Shark India serves as a beacon of innovative entrepreneurship. It demonstrated that businesses can drive change and make a positive impact. The Plated Project has managed to turn everyday objects like plates into catalysts for change, feeding the needy with every purchase.
In conclusion, Sinha’s initiative redefines success in the business world. The blend of art, utility, and philanthropy brought by The Plated Project shows us that entrepreneurship is not just about profits. It can also be a platform to bring about significant social change, one plate at a time.
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