ABC has ordered a pilot for Apprentice creator Mark Burnett's The Shark Tank.

The new series is not another Damien Hirst art project, as the title may suggest, but a reality series in which aspiring entrepreneurs pitch their business ideas to moguls (aka the "Sharks") in the hopes of securing some investment capital, the Reporter says.

Burnett's version of the series is its second adaption from the Japanese series, Dragon's Den. The U.K. has its own version, which aired its sixth season this summer.

Can another Burnett-spawned series stay afloat? - Anna Dimond