ABC is teaming up with a reality mega-producer for a brand new series. According to The Hollywood Reporter, ABC and producer Mark Burnett are teaming up for a new series dubbed Shark Tank.

The series, based off the popular British TV series, Dragon's Den, will follow struggling entrepeneurs that get the opportunity to pitch their ideas to five tycoon investors, dubbed the "Sharks." The contestants must convince the investors to put up the money they've already invested, or go home with nothing.

"People are looking to be entrepreneurs to get ahead, yet there's no way anybody can go into a bank right now and get a loan," Burnett said. "For these entrepreneurs, these sharks are their last stop."

ABC has ordered seven episodes of the new series and, while it wasn't clear when the new series would premiere, it was said that a premiere would seem likely sometime next season.