It's pretty easy to give your kid loads of advantages without engaging in nepotism. The definition of nepotism is actually very narrow!

You can teach them your trade. You can show them that education is important, modelling and rewarding behaviours like reading. You can make sure you've got time to be there for them. You can introduce them to your friends in other lines of work. You can check their homework and help them when they struggle, within reason. You can make sure they never need a part-time job to get by while in school. You can get them tutors whenever they're having trouble. You can get them extra tuition outside school. You can pay for them to go to a great college. You can cover their living expenses when they're working an unpaid internship. You can invest in their startup. You can assure you that even if their startup crashes and burns, you'll make sure they always have a roof over their head and food in their belly. You can buy them a house, pay their bills, gift them millions of dollars.

And you can hire them to work for you - as long as you make a point to clearly not favour them in the workplace, by insisting they work hard every day, don't use your name, and that they start at the bottom and work their way up on their own merits.

And you can overlap these things! In your role as CEO give them an unpaid internship in the mailroom of your company, and in your role as a parent give them a $10,000/month allowance? Technically not nepotism.

The only things you can't do is give them undeserved promotions, or hire them directly into a senior job.