Who was just hired?
Eric Collins, digital entrepreneur, seasoned investor and CEO of Impact X Capital Partners, will present The Profit, a new business reality talent show on Channel 4.
The series follows Mr. Collins on his journey to transform four small UK businesses into the next Amazon by leveraging his own expertise and capital investments.
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Do you think the apprentice meets Dragon’s Lair meets Ramsay’s kitchen nightmares?
Did Channel 4 pick a winner in Collins?
Alabama-born Eric, 54, helped start and sell a number of companies, including predictive text company SwiftKey, which Microsoft bought for £ 250 million in 2016.
The Princeton University graduate worked as a strategy advisor specializing in deals and mergers before founding SpeedSolve, a platform for tracking consumer complaints.
His intelligence led then-US President Barack Obama to appoint him to the Council of the US Small Business Administration for Underserved Communities.
Who will benefit from The Profit?
The black Impact X Capital Partners were formed to support underrepresented entrepreneurs across Europe.
Mr Collins, who thinks it makes financial sense to invest in innovative business ideas from marginalized groups, said: “Less than 1 percent of the venture capital goes to people of color, less than 4 percent of the venture capital goes to women.”
Should Lord Sugar be concerned?
In contrast to The Apprentice’s Parade of deluded glory seekers waiting to be fired, The Profit will meet innovative startups that need a helping hand. However, it is Mr. Collins’ own money and reputation when they fail.
This is still a Channel 4 reality show so there is plenty of room for tantrums and tears. “This process will push them to face the reality of their situation, make some tough decisions, and put someone else in control, which is never easy,” said Collins.