MANILA -- Internet domain registrar and web hosting company GoDaddy and pay TV channel AXN are set to launch a new reality show for aspiring Filipino entrepreneurs.

Auditions are ongoing for "Project GO," a five-episode mini-series where 20 contestants can pitch their ideas to business experts and compete for the chance to receive P1 million in funding to help jumpstart their venture.

Those who are interested may submit their applications online until September 2.

"Project GO will open opportunities for more Filipino entrepreneurs to take the next steps in pursuing their business ventures confidently during the pandemic. Working with AXN, we want to encourage Filipinos to act now and make their idea real," Tina Shieh, marketing director for GoDaddy Asia, said in a statement.

GoDaddy and AXN said shortlisted entries will be based on originality, marketability, feasibility, and presentation performance.

From the 20 contestants, business mentors will select the Top 4 who will participate in a "boot camp" to prepare them for the finale.

One winner will be declared after the finalists present their last pitch to the panel.

"We wanted to reach out to individuals and businesses struggling through this pandemic. Creating Project GO with GoDaddy allows us to give opportunities to Filipinos and nudge them to rise above this crisis," said Avani Bhanchawat, vice president for affiliate, media, and sponsorship sales of KC Global Media Asia which owns AXN.

"Project GO serves as an avenue for those who want to make their dreams into reality. We believe this can help to motivate entrepreneurial Filipinos to move forward with their business ideas, and help support the country's recovery," Bhanchawat added.

According to GoDaddy and AXN, "Project GO" is set to premiere on November 19.