U.S. commercial broadcaster NBC has ordered the tentatively titled business competition series Funded from in-house production arm Universal Television Alternative Studios.
The series provides entrepreneurs with investment funding, and sees start-up companies with “revolutionary and disruptive business ideas” paired with one of three business mentors – fashion mogul Tyra Banks (pictured, center), skateboarding entrepreneur Rob Dyrdek (right) and marketing guru Rohan Oza (left) – for the chance to compete for up to a US$1 million investment.
Each episode will see the three mentors selecting from a fresh crop of start-ups to provide them with “priceless business insight.”
Episodes will culminate with the entrepreneurs and their mentors facing a venture capitalist in front of a live studio audience in an attempt to convince them that their company has the potential to become the next great company if they receive the fund’s backing and a $1 million cash infusion. Only one start-up per episode can get funded.
“Rob, Tyra and Rohan offer a level of business experience and expertise that is priceless to a burgeoning entrepreneur,” said Ahr in a statement. “They are perfectly suited to be at the helm of this series as it sets out to shine a light on extraordinary start-ups, provide invaluable guidance to innovators and give financial backing to the most deserving and revolutionary ideas that will shape our future.”
“We set out to create a highly entertaining show for quality business ideas with innovative entrepreneurs who, with a little bit of guidance and capital, will have explosive growth,” added Dyrdek.