The Small Business Administration will bring five small-business finalists to Washington, D.C., on Sept. 18 to compete live for a share of a $1 million prize pool, in a event styled after Trump’s old reality-TV format.
SBA Administrator Kelly Loeffler confirmed the details to Fox News Digital, framing the event as part of the nation’s 250th anniversary celebrations. “As our nation marks its 250th anniversary, the SBA is celebrating America’s legacy of free enterprise through the Million Dollar Pitch Competition—a historic live event showcasing the essential contributions of America’s small businesses,” Loeffler said.
The five finalists were narrowed down from a nationwide pool of applicants earlier this year. They are:
- Compotech, Inc., a defense technology company in Brewer, Maine
- Winton Machine, a metalworking machinery manufacturer in Suwanee, Georgia
- Plas-Tech Tooling, a plastic mold manufacturing company in Garner, Iowa
- Red River, a pressure vessel manufacturer in Gillette, Wyoming
- VetPowered LLC, a machinery manufacturing firm in San Diego, California
Judging the finalists will be rapper Nicki Minaj, private equity fund manager and entrepreneur Grant Cardone, and Airbnb co-founder and U.S. Chief Design Officer Joe Gebbia. Actor Dean Cain will host.
Every finalist walks away with money. First place takes $400,000, second place gets $250,000, third place earns $150,000, fourth place receives $125,000, and fifth place still collects $75,000.
Contestants were judged on four criteria: strengthening American competitiveness, examples of small businesses “punching above its weight,” economic impact and quality jobs, and business fundamentals and execution readiness.
“Their participation brings invaluable real-world perspective as our five exceptional finalists compete for a share of $1 million in growth capital. I look forward to joining them next month as we recognize the innovators and job creators who power American strength,” Loeffler said.
The event’s format echoes “The Apprentice,” the reality show Trump hosted for 14 seasons before entering politics, in which aspiring business figures competed through a series of challenges.
