Dragon's Den, Shark Tank Are TV Knockoffs Of A Japanese Original

Policymakers recognised the need to diversify the economy, create jobs, and promote innovation. Startups, with their potential for agility and creativity, as well as their ability to create jobs for talented young people, became a focal point of this shift. Startups also offered an ability to infuse innovative ideas and talent into Japanese corporations as they competed in global markets.

Policy initiatives including tax incentives for startup investments, a change to regulations that allowed“pension fund portability” and an introduction of American-style employee stock options were among efforts to enable entrepreneurship.

But a culture that discouraged risk-taking and a regulatory environment that punished job movement could not be changed overnight. SoftBank's Masayoshi Son was becoming synonymous with this new breed of brash, risky business. And, while a hero to some, Masa (as he is now globally known) was controversial . He was a challenger to Japan's economic culture and the way business was done.

So, how could public policy encourage a new generation of risk-takers willing to embrace the uncertainties of starting a business? And how could starting a business be something that a top Japanese graduate could tell the parents about without being ostracized?

Enter Money Tigers. A bold experiment, the show aimed to bring entrepreneurship into living rooms – and the conversations of family and friends – across Japan.

Its format was simple but powerful: aspiring entrepreneurs presented their business ideas to a panel of wealthy angel investors, or“tigers”, who had the power to fund these ideas in exchange for equity. The drama of negotiation, the tension of rejection, and the triumph of securing an investment made for compelling viewing.

The genius of Money Tigers lay in its ability to humanize the entrepreneurial journey. Viewers saw ordinary people take bold steps to turn their dreams into reality. The tigers, seated on the other side of a table, represented a mix of skepticism, curiosity and mentorship. Their probing questions and candid feedback not only added drama but also educated the audience about what makes a business viable.

For many Japanese viewers, Money Tigers was the first exposure to the concept of pitching for investment. Terms like“equity,”“valuation” and“return on investment” entered mainstream conversation. Building a business with ambitious growth plans, perhaps once frowned upon as being too focused on making money, was portrayed in a more endearing way.

By showcasing both the successes and failures of entrepreneurs, the show began to chip away at the stigma surrounding failure and around the ambitious founder. Entrepreneurs who walked away empty-handed were often praised for their courage, a message that resonated especially with younger generations.

The show complemented policy initiatives. Between 1997 and 2001, the Japanese government launched a litany of policy initiatives, including tax incentives for angel investors and the establishment of the startup-friendly stock exchanges. Where these government policies created the infrastructure for startups to thrive, Money Tigers tackled the stickier cultural setting.

While still modest relative to the size of the Japanese economy, innovative entrepreneurship has become more common in Japan. The country now has several startups worth over US$1 billion (unicorns ) and some of the world's best-known venture capital firms have established outposts in Japan.

Sign up for one of our free newsletters

• The Daily Report Start your day right with Asia Times' top stories
• AT Weekly Report A weekly roundup of Asia Times' most-read stories

The global legacy

Money Tigers lasted only a few seasons in Japan (it stopped running in 2003), but its impact was profound. The format was adapted in the UK as Dragons' Den in 2005 and later in the US as Shark Tank in 2009. According to Nippon TV and Sony , as of February 2024,“almost US$1 billion in investments has been agreed in Dens and Tanks across the globe since the format launched.”

The early 2000s was a period of purposive government efforts to ensure that Japan's technological innovations did not succumb to the “Galapagos Syndrome” – being an island rather than a leader; remarkable but distinct. There was a sense that Japan was developing state-of-the-art technologies, but global consumer markets were not necessarily picking up the innovations.

Ironically, in the same period that Japan was pushing to normalize entrepreneurship and equity investment through an endearing TV program for its Japanese audience, it was inventing an export that would be a huge hit abroad without widespread awareness that it was Japanese.

Audiences in the UK and US assumed that Dragons' Den and Shark Tank were natural products of their entrepreneur-rich ecosystems. But rather than the Sharks and Dragons being a natural product of their markets, they were an adaptation of a state-encouraged, purposeful effort to drive cultural change in Japan.

Robyn Klingler-Vidra is associate dean for global engagement and an associate professor in entrepreneurship and sustainability at King's College London .

This article is republished from The Conversation under a Creative Commons license. Read the original article .

Sign up here to comment on Asia Times stories Or Sign in to an existing accoun

Thank you for registering!

An account was already registered with this email. Please check your inbox for an authentication link.

• Click to share on X (Opens in new window)
• Click to share on LinkedIn (Opens in new window)
• Click to share on Facebook (Opens in new window)
• Click to share on WhatsApp (Opens in new window)
• Click to share on Reddit (Opens in new window)
• Click to email a link to a friend (Opens in new window)
• Click to print (Opens in new window)