Plans for a hip co-working and business incubator space in Richmond’s downtown corridor received a large funding boost Wednesday.

It was one of two projects that won big at Chevron’s Project Pitch contest at the East Bay Center for the Performing Arts.

The contest, which loosely resembled ABC’s popular TV show Shark Tank, had nonprofits attempt to convince a panel of six local industry experts that their proposed projects would create jobs, grow small businesses and expand job training opportunities in the Richmond area.

The panel of experts (pictured below in front row), which included a venture capitalist and a bank executive, chose two winners, with each receiving Chevron grants of up to $1 million over three years. ABC7 News anchor Dan Ashley (back row, on right) emceed the event.

The winners include the Richmond Main Street Initiative (RMSI) in partnership with Renaissance Entrepreneurship Center, who will team on an initiative to improve downtown, and Pogo Park, which employs Iron Triangle residents for the purpose of turning dilapidated spaces into vibrant parks.

RMSI plans to use its Chevron grant to launch Co-Biz Richmond in the heart of the city’s downtown at the corner of Harbour Way and Macdonald Avenue. “Along with funding projects that are going to make a real difference, Project Pitch brought some of the community’s best resource providers into one room with the ultimate goal of tapping their greatest resource of all: local residents.”

Funds for the grant are one part of Chevron’s eQuip Richmond, an Economic Revitalization Initiative (ERI) that includes a $10 million investment to improve the lives of residents in Richmond and North Richmond.