On May 10, 2010, Disney XD green-lit a pilot under the title of Billion Dollar Freshmen, created by Chris Peterson and Bryan Moore, as executive producers alongside Mark Brazill.

Starring in the series are Tyrel Jackson Williams as Leo, Billy Unger as Chase, Spencer Boldman as Adam, Kelli Berglund as Bree, and Hal Sparks as Davenport.

Variety television critic Brian Lowry knocked the series' one-hour premiere for failing "to exhibit basic elements of coherence" and for featuring "too many lapses in logic".

[13] The followup encore of the premiere that aired on Disney Channel on March 2, 2012, ranked as the number-one telecast in kids 2–11 for the week of February 27–March 4, 2012, drawing 2.3 million viewers in the demographic.

Only Billy Unger and Kelli Berglund from Lab Rats were reported to be returning for the new series, alongside Bradley Steven Perry, Jake Short, and Paris Berelc from Mighty Med.