Trump admin revives ‘Apprentice’-era energy with $1M business battle in DC
The U.S. Small Business Administration is bringing a high-profile lineup of celebrity judges to the nation's capital next month to evaluate five small business owners competing for a piece of a $1 million prize pool.
SBA Administrator Kelly Loeffler announced the agency is hosting a live "Million Dollar Pitch Competition" in Washington, D.C., on Sept. 18, timed to coincide with the country's upcoming 250th anniversary. The event is designed to celebrate the role of small business in American life and to spotlight entrepreneurs whose work the agency says strengthens the country's competitive position.
"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 in a statement.
Five finalists will face a judging panel that includes rapper Nicki Minaj, entrepreneur and private equity fund manager Grant Cardone, and Joe Gebbia, co-founder of Airbnb who also serves in the federal government as head of the U.S. Chief Design Office. Actor Dean Cain will host the evening. The event, organizers say, reflects the Trump administration's emphasis on pairing private-sector figures with federal efforts to support small business growth.
"Their participation brings invaluable real-world perspective as our five exceptional finalists compete for a share of $1 million in growth capital," Loeffler said. "I look forward to joining them next month as we recognize the innovators and job creators who power American strength."
Entrepreneurs from across the country submitted applications earlier this year. A panel narrowed the field to five businesses, which were evaluated on how well they strengthen American competitiveness, serve as examples of small companies "punching above their weight," produce economic impact and quality jobs, and demonstrate sound business fundamentals and readiness to execute.
The finalists represent a cross-section of American manufacturing. Compotech, Inc., a defense technology company based in Brewer, Maine, is the only New England business in the group. Other finalists include 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; and VetPowered LLC, a machinery manufacturing firm in San Diego, California.
All five will leave Washington with prize money. The first-place winner will receive $400,000, with $250,000 for second place, $150,000 for third, $125,000 for fourth, and $75,000 for fifth.
The pitch-night format carries an echo of a familiar television touchstone. Organizers note the competition mirrors the structure of "The Apprentice," the early-2000s reality show that put aspiring business leaders through a series of challenges for a chance to work for the show's host. That program aired for 14 seasons, and the SBA's event arrives as one of several recent crossovers between business competition television and federal small-business promotion efforts.
