Entrepreneur Idol?

ABC Television has announced plans to launch a new series from American Idol creator Simon Cowell, tentatively titled The Million Dollar Idea, in which budding entrepreneurs will compete to see who has the next "million dollar idea". Nine finalists will receive $50,000 in seed money to invest as they see fit in order to win a spot in the finale. The winner will receive $1 million in business support, including consulting and office space, as well as capital.

Production on the series began several months ago in stealth mode, for fear of having the idea ripped off by a competitor. Never mind that Entrepreneurs: The Reality Show aired in February of this year in the U.S., or that Business Baazigar - The Next Big Entrepreneur aired in January in India, and Wise Man Takes All just began airing in China. And it looks like my friend Romanus Wolter, "The Kick Start Guy", is in pre-production on another entrepreneur reality show, American Entrepreneur.

Then again, Cowell's success has been based on execution, not innovation. Star Search was around long before American Idol. There's a lesson there. "He who does it first may do well, but he who does it best will do even better."