Auburn will host a Startup Weekend later this year, a three-day event in which entrepreneurs pitch, plan and present business ideas in the hopes of getting some help to make their dream become reality.

The event will be hosted by the city of Auburn and Auburn Public Library, with support from Blackstone Accelerates Growth, a statewide group created by the Blackstone Foundation to promote entrepreneurship and innovation in Maine. 

The foundation is the charitable arm of the private equity and investment banking firm Blackstone Group.

This will be the first Startup Weekend for Lewiston-Auburn. Other cities have hosted the event, including Portland. Two have been held there in the past two years and a third is planned for June.

The event runs from Friday through Sunday and starts with entrepreneurs pitching undeveloped business ideas to an audience. Audience members vote for their favorite ideas; businesses with the most votes move forward.

Entrepreneurs spend the rest of the weekend forming a team, coming up with a business plan and working on the beginnings of their business. On Sunday they present their business to a panel of judges. 

The winner’s prize varies depending on the event’s sponsors. Generally the winner receives free consulting, help with marketing or some other business assistance.

Auburn’s event organizers hope to hold Startup Weekend between mid-November and early December. Sign-ups will be held later this year.

Event organizers are looking for sponsors now. Auburn Mayor Jonathan LaBonte is also looking for small business owners and others to serve on a mayor’s committee on entrepreneurship to help with the event and, afterward, to help the city grow small businesses and help entrepreneurs.   

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