By Robert Campbell

NEW YORK (Reuters) - Wanted: rich older women interested in hot younger guys. Applicants must be over 35, earn at least $500,000 a year or have a minimum of $4 million in liquid assets, entrusted assets or divorce settlement.

That's the basis of a speed-dating event organized by a New York entrepreneur bringing together 20 "sugar mamas" and 20 "boy toys" vetted by an elite New York matchmaker.

"Symbiosis has allowed ugly rich men to attract young, gorgeous, money-hungry women for centuries; it's now the women's turn," proclaims pocketchangenyc.com, the Web site that Jeremy Abelson is using to promote the event.

Set to take place at Manhattan's 230 Fifth club on February 7, it has attracted more than just wealthy divorcees. Nancy Richards, 50, is the owner of a marketing firm and a theater producer in New York and London.

"Is it truly what I am looking for? No. Is it an option? Why not? In New York City anything goes," Richards said with a laugh.

Speed-dating pairs up prospective couples for face-to-face meetings that last just a few minutes. The partners rotate over the course of the evening, allowing participants to make the acquaintance of many potential partners.

"I find younger guys will usually be totally into you while older guys will be looking over your shoulder at a younger woman," said Gail Garrison, 44, a fashion designer and former model.

"Younger men expect an older woman to be more accomplished. They are looking for you because you are intelligent. They are not looking for a mother," she said.

Abelson, 27, calls it "Natural Selection Speed Date II: Sugar Mamas & Boy Toys." He came up with the idea after drawing criticism from feminists for organizing an event last year that paired wealthy older men with young women.

More than 5,000 men applied for a place in this year's event. Twenty finalists were selected.

"I think for men it is an incredible fantasy (to be with an older woman)," Abelson said. "Older women are more experienced and they know what they want."

The prospective boy toys -- who had to be under 35 -- were screened by Janice Spindel, billed as New York's most exclusive matchmaker.

"I really think a lot of people will connect," Spindel said. "Age is just a number, and some people are unlisted."