The network has handed out a pilot order to the unscripted project, an adaptation of the Japanese reality format "Dragon's Den."
Sony Pictures TV is producing the show, which features aspiring entrepreneurs pitching their business ideas to moguls, aka the "Sharks," in hopes of landing investment funds.
This is the second reality competition series for budding entrepreneurs at ABC. The network aired two seasons of "American Inventor," a brainchild of Simon Cowell and Peter Jones. Jones is one of the "Dragons," the wealthy judges on the successful British version of "Dragon's Den," which aired its sixth cycle this summer.
The arena of business-themed reality shows is a familiar one for Burnett, who also created and is executive producing "The Apprentice," which returns with a second celebrity edition in January.