'Shark Tank' Contest for Entrepreneurs: Gilroy Downtown Business Association

The Gilroy Downtown Business Association is planning a competition modeled on the reality tv show "Shark Tank" to generate interest and increase occupancy in the heart of Gilroy, and the winner could earn a $50,000 grant and reduced rate lease, according to the group.

The group's goals for 2013 include showcasing vacant buildings to potential entrepreneurs, GDBA board member Larry J. Mickartz said Friday.

Business association members stated in a "Shark Tank Gilroy" flier:

"This is an open invitation to pitch your business vision for Downtown Gilroy to a trio of experienced and successful business people: The Sharks!"

"Shark Tank Gilroy" will be open to aspiring business people of all ages.

• The opportunity will consist of a $50,000 grant, including operating capital, a reduced rate lease on a downtown location, and the ability to be mentored and guided by a team of highly educated, motivated and experienced entrepreneurs.
• The application process will consist of each contestant attending a walk-through of eligible Downtown Gilroy properties, submission of an application package describing the business model, and ultimately pitching the Sharks in a live forum, with the Sharks putting them on the spot to explain how their business will work, why the location is right, and what the business will bring to the synergy of Downtown Gilroy. 
• Come unprepared, and you will be eaten alive.
• Tentative Date: Saturday June 8.
• Event Location: Upstairs Old City Hall or The Strand.

The winning entrepreneur of "Shark Tank Gilroy" will be given the grant and assistance to open his or her new business, Gilroy Downtown Business Association president James Suner said.

"It's a very exciting oppotunity and it could be a shot in the arm for somebody looking to develop down here," Susan Valenta, Gilroy Chamber of Commerce president, said Friday in a phone interview. "This is something that's going to be fun and it's a real viable chance to get some investment dollars."

For more information call (408) 842-0005, email GDBA coordinator Melanie Corona at melanie@DowntownGilroy.com, or visit www.downtowngilroy.com/local.

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