One Nevada business idea to receive $100,000

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Updated: 11/05/2012 3:21 pm
RENO, Nev. (KRNV & -- A local version of the show "Shark Tank," a show where entrepreneurs pitch business ideas, will be coming to Nevada to give $100,000 to back one idea.

The contest, called Project Vesto, is sponsored by the Nevada Institute for Renewable Energy Commercialization (NIREC) and the Nevada Governor’s Office of Economic Development (GOED).

Anyone with an idea for a business and a business model that outlines their plan can apply at to take part. The deadline for applications is Nov. 30, and the form and instructions to create a business model canvas can be downloaded at the Web site above.

Existing Nevada businesses with under $1 million in revenue and less than $100,000 in private investment equity can apply as well as those with new business ideas.

When the best 10 proposals are chosen, the contestants will be able to promote themselves via social media throughout January. Anyone in the state will be able to vote online for what they consider to be the best idea.

The $100,000 winner will be announced in February, and will be required to have a Nevada business license and locate operations in the Silver State.

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