The Small Business Administration will bring together five entrepreneurs from around the country for a live pitch competition in Washington, D.C., on Sept. 18, with a combined $1 million in prize money on the line.
SBA Administrator Kelly Loeffler said the event, called the Million Dollar Pitch Competition, is tied to the nation’s upcoming 250th anniversary. “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 selected from entrepreneurs who submitted applications 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
Applicants were judged on how they strengthen American competitiveness, how they “punch above their weight” as small businesses, their economic impact and job quality, and their overall business fundamentals and readiness to grow.
The finalists won’t leave without something: first place takes home $400,000, second place $250,000, third place $150,000, fourth place $125,000, and fifth place $75,000.
A celebrity panel and an old format
Judging the live pitches will be rapper Nicki Minaj, entrepreneur and private equity fund manager Grant Cardone, and Airbnb co-founder and U.S. Chief Design Officer Joe Gebbia. Actor Dean Cain will host.
“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 setup recalls the format of “The Apprentice,” the reality show President Donald Trump hosted for 14 seasons in the early 2000s, which pitted aspiring business figures against one another in a series of challenges.
The SBA has framed the pitch competition as part of a broader push by the Trump administration to highlight American entrepreneurship and work with the private sector to back small-business growth and innovation.
