SOUTH PORTLAND — Owners of Westbrook businesses can cash in on a reality TV game show being offered locally.
Startup South Portland, a competitive show that features a series of business pitches, will begin at 6 p.m. Sept. 13 in council chambers at South Portland City Hall.
The show was established by the city of South Portland, the city’s Economic Development Committee and Opticliff Law, and will provide an opportunity for businesses to learn and earn while the public watches.
Businesses with ties to South Portland, Scarborough, Westbrook and Cape Elizabeth that have less than $100,000 in annual revenue can apply to compete on the show, which is scheduled for three consecutive Wednesdays. Each show will last about two hours.
Adam Nyhan, an attorney with Optficliff Law in Portland and a resident of South Portland, said the idea was born while he, South Portland Assistant City Manager and Economic Development Director Joshua J. Reny and Ross Little, a member of the Economic Development Committee, were having a conversation in early 2017.
Nyhan said businesses accepted for the contest will need to have one or two representatives make a five-minute pitch. The contestants will be questioned by a panel of about four or five judges who will also score the businesses and offer advice. The event is open to the public and will be taped and broadcast live on local access television in South Portland.
Nyhan said the pitch must include a PowerPoint presentation that answers core questions about the business as outlined in the rules but “we give them a lot of room for creativity.”
Winners and the runners-up from the first two evenings will compete in the finale on Sept. 27. Venues for the second and third contests have not been finalized, but Nyhan said they would like to schedule one evening at Southern Maine Community College and another at one of the South Portland’s major employers.
The contest could run longer if 20 or more companies are chosen to participate, Nyhan said. In that case, the finale would be held at a later date.
Winners of each evening’s contest will receive a game show-style oversized check for $750. Runners-up will receive $250.
The grand prize at the final competition will be $1,500. The runner-up will receive $500.
The prize money is being provided by People’s United Bank.
Nyhan said the contest is the first of what organizers hope will be an annual tradition or be followed with future contests.
The Maine Center for Entrepreneurial Development, a nonprofit that, according to their website, “helps Maine’s most promising entrepreneurs to grow through innovation” will provide some free pitch training so contestants can prepare for the event.
Nyhan said eight businesses had signed up as of Tuesday morning. He isn’t revealing the names yet, but said the businesses are from the food and beverage sectors, including one that makes a beer product, a business that is combining a hardware/software product, a business that manufactures a skin care product, a graphic design firm and a company that wants to bring another co-working space to the area.
Organizers would love to have more contestants apply but “of the eight that applied, we will definitely let them pitch,” Nyhan said.
Judges will rotate, but will include seasoned entrepreneurs, local investors, attorneys with experience with business start-ups, and economic development leaders.
Although no formal deadline has been set, Nyhan said registration will likely be cut off two weeks before each round.
Interested businesses can sign up using the link on the Startup South Portland Facebook page at www.facebook.com/startupsouthportland.
Despite the prize money, Nyhan speculates contestants are participating for other reasons.
“I think the reason most people are doing this is to get experience making pitches. Making a formal pitch is something a lot of people have never done before,” Nyhan said. “It gives people a chance to get feedback from other companies. That feedback is invaluable.”
Melanie Sochan can be reached at 781-3661 ext.106 or msochan@theforecaster.net. Follow her on Twitter @melaniesochan.
Comments are no longer available on this story