As described on the Demo Day website, the idea appears to be something like the White House Science Fair for entrepreneurs. Put another way, successful entrepreneurs will come to talk about their ideas and how they managed their success. The White House is particularly interested in hearing from entrepreneurs in underrepresented groups. Nominees are being taken (scroll down) until this Friday, April 24.
(A 72-hour window for nominations may be a record short window of comment from this White House. The cynical part of my analytical faculties makes me think that most of the entrepreneurs are already lined up, and this is just for show. But I can’t prove that.)
The Demo Day announcement follows on last week’s Tech Meetup, an event where organizers of activities like maker fairs, coding camps, and other gatherings of local technology talent met at the White House to share best practices and discuss how to replicate their efforts in other places.