AceShowbiz -

Apple teams up with Propagate to develop a new unscripted series called "Planet of the Apps". Goop's founder Gwyneth Paltrow, Black Eyed Peas star will.i.am and digital entrepreneur Gary Vaynerchuk have been signed on for the project as mentors.

"Developing and launching a business based on your own original idea can be exhilarating, but intimidating," said Paltrow. "This is a great opportunity to be part of a series that lets us use our experiences to help app developers break through and create viable businesses that will impact peoples' lives."

"As tech drives modern pop culture now more than ever, we are giving a platform for the next generation of culture makers to shine," added will.i.am. "We are searching for entrepreneurs with the vision to shape the future, solve real problems and inspire change within our daily lives."

Besides mentoring new app developers, Paltrow and will.i.am will serve as executive producers for the series. Contestants can submit their application on the show website until August 26.

Last month, NBC announced a new business show "Funded" with Tyra Banks as one of the mentors. It drew similarity to ABC's "Shark Tank".