SBA Launches Million Dollar Pitch Competition with Nicki Minaj

The U.S. Small Business Administration will host the Million Dollar Pitch Competition on September 18 at the Ronald Reagan Building and International Trade Center in Washington, D.C. Part of the Freedom 250 initiative celebrating the 250th anniversary of American free enterprise, the event will feature five finalists—Compotech, Inc., Winton Machine, Plas-Tech Tooling, Red River, and VetPowered LLC—competing for a share of $1 million in growth capital.

The prize pool is privately funded by Clover Network, Inc. The first-place winner will receive $400,000, with the other four finalists receiving awards between $75,000 and $250,000. The competition utilizes a reality-style format similar to Shark Tank and The Apprentice, following other administration projects like the Department of Transportation's The Great American Road Trip.

Musician and business owner Nicki Minaj will serve as a judge alongside private-equity manager Grant Cardone and U.S. Chief Design Officer and Airbnb co-founder Joe Gebbia. Actor Dean Cain will host the event, which will be televised and streamed online. The competition takes place alongside the Freedom 250 Supplier Matchmaking Expo to spotlight entrepreneurs contributing to American economic growth and the industrial base.