Five entrepreneurs selected from across 50 states will vie for a $1 million total prize before a panel of celebrity judges and a live audience at a competition supported by the White House's Freedom 250 initiative.
The entrepreneurs from Maine, Georgia, Iowa, Wyoming and California will participate in the Million Dollar Pitch Competition, part of the Small Business Administration's Freedom 250 initiative, "recognizing the entrepreneurs and small businesses that helped build America’s first 250 years, and those who will help build its next 250."
"The competition spotlights the small businesses who leveraged SBA capital products to innovate, scale operations, and strengthen the American economy," SBA said in a July 30 news release, adding the finalists
were selected from 1,182 businesses representing all 50 states.
SBA said contestants throughout the process were "evaluated on their ability to strengthen American competitiveness, demonstrate strong small business performance and innovation, create economic impact and quality jobs, and show sound business fundamentals and execution readiness."
When is the White House's Million Dollar Pitch Competition?
The competition will take place on Friday, Sept. 18 in Washington, DC.
SBA head Kelly Loeffler likened the competition to President Donald Trump's long-running NBC show "The Apprentice," saying it will be "bringing the boardroom energy" to Washington, DC.
What small businesses will compete in the Million Dollar Pitch Competition?
The five finalists selected for the final round, according to SBA, include:
- Compotech Inc., a defense technology company in Brewer, Maine
- 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
- Winton Machine, a metalworking machinery manufacturer in Suwanee, Georgia
How much is the prize money?
Contestants at the Sept. 18 final will compete for a $1 million total cash prize pool funded by Clover Network Inc., according to SBA, the breakdown of which includes:
- 1st place: $400,000
- 2nd place: $250,000
- 3rd place: $150,000
- 4th place: $125,000
- 5th place: $75,000
Million Dollar Pitch Competition host
Actor and entrepreneur Dean Cain will host the competition, the SBA said.
Cain wrote in an Aug. 31 X post that he would be "honored" to host.
The actor, who played Superman in the 1990s series "Lois & Clark: The New Adventures of Superman," also said he enlisted as a U.S. Immigration and Customs Enforcement officer, according to an August 2025 video shared to his social media channels.
Million Dollar Pitch Competition judges
Trump advocate Nicki Minaj will participate in the competition as a celebrity judge, alongside entrepreneur and private equity fund manager Grant Cardone and Airbnb co-founder and U.S. Chief Design Officer Joe Gebbia.
"This is a major, MAJOR KEY 🔑. Sooooooooooo looking forward to this!!!" Minaj wrote in an Aug. 31 X post. "Imagine being a part of the Trump Administration’s initiative to support small businesses. Let’s GO!!!!!!!!!! 🎀"
Cardone also said he was "super excited and grateful" to be a judge on "this incredible initiative," while Gebbia also celebrated his participation.
How to watch Million Dollar Pitch Competition
SBA said the event will be "produced on Sept. 18 for a nationally distributed primetime special premiering in October, with additional details to be announced."
USA TODAY contacted the SBA on Sept. 17 for more information on how to watch the show.
Saman Shafiq is a trending news reporter for USA TODAY. Reach her at sshafiq@usatodayco.com and follow her on X and Instagram @saman_shafiq7.
This article originally appeared on USA TODAY: Trump admin's 'Apprentice'-like competition is coming. What to know
