The Trump administration is reviving the spirit of "The Apprentice" with a new business competition aimed at fostering American ingenuity. The Small Business Administration (SBA) announced it will host the "Patriot Pitch" competition, a live event in Washington, D.C., on September 18, where five entrepreneurs will vie for a share of a $1 million prize pool.
SBA Administrator Kelly Loeffler described the competition as a celebration of America's legacy of free enterprise and a showcase of the essential contributions of small businesses. The event coincides with the nation's 250th anniversary.
Entrepreneurs submitted their ideas earlier this year, with finalists selected based on criteria including strengthening American competitiveness, economic impact, job creation, and business fundamentals. The five finalists represent companies in defense technology, metalworking machinery, plastic mold manufacturing, pressure vessel manufacturing, and machinery manufacturing from Maine, Georgia, Iowa, Wyoming, and California.
The competition will feature a celebrity panel of judges including rapper Nicki Minaj, entrepreneur Grant Cardone, and Airbnb co-founder Joe Gebbia. Actor Dean Cain is set to host the event. These judges are expected to bring invaluable real-world perspective to evaluating the finalists' pitches.
This initiative is part of the Trump administration's broader efforts to spotlight American innovation and collaborate with the private sector to support small business growth. The competition's format echoes the popular reality television show "The Apprentice," which featured Donald Trump as host for 14 seasons.
The prize money is distributed among the top finishers: $400,000 for first place, $250,000 for second, $150,000 for third, $125,000 for fourth, and $75,000 for fifth place.