"It will take six months minimum to get everything up and running," Ms Cheyne said.
People with event ideas have until July 10 to apply, using an online form found at whanganuiwhatson.nz.
Ms Cheyne, Whanganui and Partners manager Adrian Dixon and Visit Whanganui chairwoman Claire Wickham will choose the best six applications.
Those people will front up on July 27 before an audience and make their pitches to four judges, one of whom will be Mrs Cunningham, who is also managing director of Empire PR & Events.
The winner will be announced on the night and get a prize package of help in kind, cash and mentoring.
Preference will be given to events that happen between May and October, that attract people from out of town, that support Whanganui's reputation for arts, culture and heritage, and that use Whanganui venues and sports grounds.
The event could be one-off, but she's hoping for a long-term one that will benefit the district.
"We are looking for an event that can give back to Whanganui in the future."
Some of Whanganui's best events have grown from community ideas, Ms Cheyne said. The foremost example is the Cemetery Circuit motorcycle races, started by a Whanganui club more than 60 years ago. It has an international reputation.
There were already event ideas out there, Ms Cheyne said, but any and all ideas would be considered.
She and Mrs Cunningham are hoping for "a perfect storm of creative energy" mixed with good management and ongoing success.