Miller Lite is running their fourth annual Tap the Future contest to encourage entrepreneurs to send in original business ideas.

The participants with the best idea will be awarded a $200,000 prize, the brewing company said in a press release, providing entrepreneurs necessary funds, along with exposure, to take their business plans to the next level.

Miller Lite has already awarded over $1 million in funding through the contest over the past three years. Thousands of entries are received each year, but only select business ideas make it to the semifinals.

The contest begins Thursday, and contestants will have until April 8 to submit their original ideas to MLTapTheFuture.com. Miller Lite will then select the 30 best submissions to move on to the next round.

A Chance to Pitch to a "Shark"

Thirty semifinalists will get an opportunity to pitch their ideas at live events in Atlanta, Chicago, Houston, Los Angeles, Philadelphia and Miami. At these live pitch events, contestants will be able to present their ideas in front of Daymond John from ABC's "Shark Tank" and a panel of experts. John and his panel will select a winner from each city, who will each be awarded $20,000 and move on to the final round.

The six finalists will then have one more opportunity to pitch their ideas in front of a judging panel in Chicago in September. The judges will select the best idea and award the winner the $200,000 grand prize.

National Exposure

Miller Lite wants entrepreneurs to not only be excited about the possibility of receiving the $200,000, but also about gaining national exposure in front of well-respected experts who have the experience to help them succeed.

John encouraged entrepreneurs to send in their ideas because he believes the Tap the Future contest can help them grow their businesses.

"Miller Lite Tap the Future can open doors for aspiring entrepreneurs who want to take their business to the next level and are willing to put in the work to do so," John said. "I encourage entrepreneurs who are ready to get down to business and work hard to not pass up this opportunity."

USHCC Endorsement

The Tap the Future contest received an endorsement from the United States Hispanic Chamber of Commerce (USHCC). MillerCoors, the maker of Miller Lite, has a strong history of giving assistance to Hispanic businesses, something the USHCC has applauded the company for.

"The USHCC is thrilled to support MillerCoors -- a longstanding partner of our association -- as they host their national business competition, Tap the Future, for the fourth year. Again and again, MillerCoors has recognized the critical importance of supporting small and minority-owned businesses in America," said USHCC President and CEO Javier Palomarez. "We are proud to support MillerCoors as they empower entrepreneurs across America to pursue new and innovative business ideas."

Last year's Tap the Future winner was Brian Hill, founder of Edovo, a business that helps inmates in correctional facilities stay focused on educational and vocational programs through the use of tablets. Hill says his participation in Tap the Future has helped grow his business and raise more capital.

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