NBC has ordered new business competition series Funded (working title), a show built around an investment fund that gives entrepreneuers the opportunity to compete for $1 million cash. Entreprenuer and venture capitalist Rob Dyrdek, businesswoman and model Tyra Banks, and marketing guru and investor Rohan Oza will serve as mentors. Dyrdek and Banks executive produce with Kris Curry and Lee Metzger (The Voice).
Funded is the first series ordered from NBC's newly formed Universal Television Alternative Studios.
In each episode, Dyrdek, Banks and Oza will select from a fresh crop of start-ups, each choosing one to champion and mentor. These are no ordinary start-ups but, rather, represent the best and most promising new companies in the world, with the potential for exponential growth and the chance of become global brands. The companies will get game-changing expert advice from our mentors and their elite advisors, and viewers will get priceless business insight previously only known to CEO's and successful entrepreneurs, NBC says.
At the end of each episode, the start-ups and their mentors must face a Venture Capitalist in front of a live audience, and convince him their company could be the next great company if they can get the fund's backing and that $1 million cash infusion. Only one start-up per episode can get funded, and only one mentor can claim bragging rights as the savviest visionary entrepreneur.
"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," said Dyrdek. "At its core, 'Funded' is a serial entrepreneur competition show where the winner is the American dream!"
"I have spent my life encouraging people to BYOB — Be Your Own Boss," said Banks. "Making everyday people's dreams come true is what I live for. 'Funded' is the life-changing type of television power project that gets me pumped. We will enlighten and entertain audiences big time and encourage our viewers to attack their most outrageous goals with fierce determination."
"Rob, Tyra and Rohan offer a level of business experience and expertise that is priceless to a burgeoning entrepreneur. 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," said Meredith Ahr, President, Universal Television Alternative Studios.
The series will be produced by Universal Television Alternative Studios in association with SuperJacket Productions.
For those wanting to be considered for Funded, go to the website here.
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