Budding inventors with high-tech ideas may soon have somewhere other than Kickstarter to turn for finance and support.

X-Factor mogul Simon Cowell and Black-Eyed Peas singer Will.i.am are rumoured to be joining forces to develop an idea that will see a version of the TV talent show that focuses on innovative, high-tech ideas and their inventors.

While Cowell’s experience of creating high-profile television is all too evident, what may not be as widely-known is that Will.i.am was last year appointed as director of creative innovation at Intel. The processor manufacturer has recently made a big move into the mobile world by teaming-up with Motorola to create the RAZR i.

Speaking at the Royal Television Society Digital World conference in London recently, the singer played up the role that the show could have in boosting employment: “Singing and performance create a couple of jobs, but this will create lots.

“It’s about getting in touch with youth and giving them a platform to express themselves – whether that’s in science or mathematics.”

Cowell’s involvement with the project should guarantee some high-profile publicity but there is no certainty of success in this area. In 2007 the X-Factor judge launched a US TV show called American Inventor which failed to gain significant viewing figures and was cancelled after two seasons, despite following a similar format to the hugely successful UK TV show Dragon’s Den.