George Stephanopoulos was the first "GMA" anchor to jump into the water, pitching "Dad-tionary," an app to help keep dads up to date on the latest lingo. Click here to see how he fared with the panel.
Amy Robach was the next to pitch her idea - the "Paw PitStop" Mat - billed as "an eco-friendly way to stop a dog's dirty paw prints at the door." Click here to see how she fared with the panel.
Next up, Lara Spencer.
Lara's Pitch: 'Strong Island' Ready-Made Cocktail
Spencer, a native of Long Island, N.Y., pitched the 'Strong Island,' a ready-made cocktail that has nearly 200 fewer calories than an average 4-ounce Long Island Iced Tea.
"As a busy working mom who now drinks tons of diet and regular iced tea during work as well as after working out, I realized no one had thought of combining the delicious iced tea flavors out there like Peach and Green with the nostalgia of the old Long Island Iced Tea to create a convenient ready-made cocktail for women everywhere," Spencer told the panel.
"I want to call it 'Strong Island' because the name conjures up something strong and bold, just like the people I grew up with," she said.
How It Works
Spencer turned to "Skinnygirl" creator Bethenny Frankel for advice on creating a low-calorie and ready-made version of the Long Island Iced Tea, a popular cocktail typically made with a combination of triple sec, rum, gin, vodka, tequila, a cola-flavored carbonated beverage and lemon. Spencer and Frankel cut the calories in a "Strong Island" to 207 calories per serving compared with over 500 calories in the average Long Island Iced Tea.
"I want women who drink 'Strong Island' iced teas to know when they are done trying to be the perfect wife, mother and co-worker, they can finally let their hair down and just be themselves, with a cocktail they can trust," Spencer said.
Watch the clip above to see whether Lara sinks or swims with the sharks, and stayed tuned to "GMA" to see what Robin Roberts pitches. Viewers will get to vote for their favorite product on GoodMorningAmerica.com next week.
The stakes are high. Our sponsor, Dell, will donate $10,000 to each of two nonprofits focused on helping entrepreneurs and small businesses in this country, at the end of the series.