Simon Cowell is back at it — this time, however, technology talent is what he is searching for.

In an age when technology reigns supreme, dynamic digital talent is more essential than it has ever been before.

On Tuesday, Rita Ora and Nick Grimshaw were revealed as the new judges for “The X Factor,” but techies should be more excited about Cowell’s recent talk of the “The F Factor.”

Teaming up with private networking powerhouse Founders Forum — which includes high caliber businessmen like TalkTalk boss Charles Dunstone — Cowell will seek to mine new technology talent in an innovative way.

“The F Factor” will give 10 young, tech-savvy individuals the opportunity to pitch leaders like Google Executive Chairman Eric Schmidt, Lady Lane Fox and Archie Norman their business in attempts to win a $11,500 prize. Cowell said:

“In the UK we’ve got an excellent track record of creating great businesses from brilliant ideas. Often all that’s needed is a stage, which is exactly what Founders Forum are providing with The F Factor. I’m looking forward to reviewing the shortlist of brilliant business ideas from the next generation of entrepreneurs.”

The entrepreneurs will be asked to pitch their ideas using no more than 140 characters, and the final 10 remaining contestants will have to execute face-to-face interviews in persuading judges that their ideas are worth their time and efforts.

Technology has been pivotal in creating platforms like “The X Factor” and “American Idol,” but the tides are turning and the platform is now going to be dedicated to developing the very talent that has made so many other platforms possible.

h/t: The Guardian