Mark Burnett is stepping into Sony Pictures Television's The Shark Tank. According to Variety, Burnett will create a U.S. version of the Japanese reality show Dragon's Den in which aspiring entrepreneurs attempt to convince successful moguls to invest in their ideas.

The Shark Tank marks a rare studio collaboration for Burnett, who has generally produced his own shows. Burnett quickly decided on a new name for the format The Shark Tank, but plans to keep the essence of the idea intact.

Sony Pictures Television has not yet announced when they plan to start production on The Shark Tank.