'X Factor for Tech': Simon Cowell and Will.i.am's Next Show

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Tech entrepreneurs might want to prepare to be harshly judged on national TV. Simon Cowell, the often-brutal "American Idol" judge, and R&B music artist will.i.am are working on a new TV project reportedly called the "X Factor for Tech."

There are no official details on the show just yet, but we expect it will be very similar to what its title suggests. Instead of singers, technology entrepreneurs will "perform" or pitch judges on their ideas and the winner will take home lots of cash. The hope is to discover the next Bill Gates or Mark Zuckerberg, will.i.am said.

"We're working on a project called 'X Factor for Tech' - and it's going to be out of this world," will.i.am told The Sun, which first reported on the idea for the new show.

The program sounds a lot like ABC's "Shark Tank," which similarly has entrepreneurs pitch a group of well-known investors and business icons. "Shark Tank," however, doesn't solely focus on tech. There's also another tech show in the works: Randi Zuckerberg, Mark Zuckberg's sister, is working on a reality show for Bravo based in Silicon Valley.

Will.i.am announced the plans at a tech conference in London and said he and Cowell had recently met in Los Angeles to begin planning. "Singing and performance create a couple of jobs," he said. "But this will create lots. It's about getting in touch with youth and giving them a platform to express themselves - whether that's in science or mathematics."