Invest Nest is a “Shark Tank”-style pitch competition that gives Utah high school students the opportunity to invest in their business ideas and provide them with financial support to make their ideas a reality.
High school student Dylan Rifkin participates in the PC CAPS program, which organizes and markets contests. He said some of the students who took part in the program last semester were responsible for raising money for local competitions.
“Invest Nest is another organization that participates in many CAPS programs in schools, and we have students help organize competitions throughout the year,” Rifkin said.
However, our competitors do all their invention work outside of school hours.
“There's everything from apparel brands to renewable energy ideas to cryptocurrencies,” he says. “There’s a really wide variety of things being pitched to us.”
He says he would love to use some of the ideas.
“There are certainly companies that actually exist and are ready to become real companies,” he said. “And some may not, especially in the eyes of a judge.”
The public can watch pitches from the six finalists on Tuesday at 6:30 p.m. at the Park City Eccles Theater.
Judging will be based on how well the idea is developed, how it is presented, and how realistic it is to get the business up and running once the funds are available.
Students present elevator pitches. Judges, investors, and the public will vote to determine the winner. The winner will receive $5,000 and advance to the state finals on April 29 in Provo to compete for a $20,000 prize, Rifkin said. His second place on Tuesday will earn him $5,000 and third place will earn him $2,500. The remaining participants will receive $1,000.
According to the Invest Nest website, the program has helped more than 100 high school students start businesses, 40 of whom are still active. Park City School District and Wasatch County School District are two of eight districts in the state tournament.