By John Ostapkovich

PHILADELPHIA (CBS) — Philadelphia will play host to Forbes Magazine’s “30 under 30” summit in mid-October, not only a brain-storming session by those who’ve made it, but a springboard for those who want to.

From October 19th to the 22nd, the Convention Center will host a who’s-who list of millenial entrepreneurs, inventors, celebrities and more than a thousand others looking to make their big mark. Randall Lane of Forbes says attendees will get a chance to grab for the gold ring.

“We’re calling it the $400,000 pressure cooker,” Lane says, “where we’re going to have a pitch contest on stage in front of a thousand people, and the winner take all, winner gets $150,000 in investment and a quarter-million dollars in prizes, and we promised Mayor Nutter that one Philly entrepreneur gets a fast track to the finals.”

Lane says Philadelphia is abuzz with millenial energy.

“Based on what we’re seeing you’re doing great,” he says. “Stats we’ve seen show the rise in millenials in Philadelphia is outpacing the rest of the nation.”

Lane says they hope this conference will do here what South by Southwest does for Austin.

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