Businesses Compete for $100K in Local Online Effort

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NEVADA -- A local online competition aims to turn a business idea into an empire. The winner could one $100 thousand dollars in cash to start up his or her business.

"What we're really looking for is to just help some business here in the state and hopefully in the future more businesses in the state get off the ground and push to the next level," Daniel Herr, Project Vesto manager said.

Starting a business is difficult especially in an economic recession. In order to turn an idea into a hot product, entrepreneurs will need some start up money. That's why Project Vesto is launching an online competition to help give businesses a fighting chance.

"We're looking at proving to a panel of investors that not only now, but in the future that your idea is worth investing in and it's got the opportunity to grow right here in the state of Nevada," Herr said.

It's a unique opportunity Jarrett Grimes, Northern Nevada Studios manager, couldn't ignore.

"We lost jobs that are like welding and electricians and painters. The great thing about what I do is that film makers use those skilled labor positions," he said.

Grimes wants to turn Northern Nevada into a hot spot for movie makers. With Nevada's tax incentives for filmmakers, he hopes to bring in more than 1000 local jobs in Incline Village, Reno, and Gardenerville.

"We're in the middle of a large film market already so we have a really good chance to bring motion picture production here," Grimes said.

Grimes and other entrants will have to pitch their ideas to a panel of investors--shark tank style--who will then choose 10 finalists in February.

The winner will be chosen by the public through online voting.

The deadline to enter is December 31 at midnight.