“It’s a reality show, but it has nothing to do with personal drama. We’re here to do business.”
This was how the producer behind the country’s first business reality show, The Final Pitch, described what is to be expected from the show’s second season, set to start airing on Sunday, June 24 on CNN Philippines.
The show is loosely inspired by Emmy Award-winning American shows Shark Tank and The Apprentice. The Final Pitch invites entrepreneurs, already with minimum viable products or basically those with more than just business ideas, to pitch to the investor-judges on the show, hoping to gain investment deals from the parties in the end.
In a televised interview on CNN Philippines on June 18, John Aguilar, the show’s host and executive producer, said more than 50 entrepreneurs submitted proposals but only around 20 were able to personally pitch to the investor-judges for the second season.
“The Final Pitch is our way to help small and medium enterprises to gain access to funding,” Aguilar said. “We’re here to provide an avenue for startups to be exposed and for people who would most likely use or eventually see their products.”
In a Facebook post in May, Aguilar said the mentors pledged to invest more than $1 million to the winning contestants’ businesses by the end of the show.
This season’s investor-judges include Mega Global Corp.’s William Tiu-Lim; Rep. Michael “Mikee” Romero, who is also chairman of Globalport 900 Inc.; Jet Yu, founder and managing director of property brokerage and consultancy Prime Philippines; and Dino Araneta, CEO of digital logistics company QuadX.
Aside from funding, the contestants will also be gaining mentorship from the investor judges, as they will be given advice on doing business throughout the entire show. By the end of the season, the contestants will be given the chance to pitch their businesses to the investor-judges for actual funding.
In the previous season, technology startups emerged as big winners as four of the five business founders who won funding from the show’s mentors were Internet-based enterprises. It aired on the History Channel from late August until October 2017.