▾ What is the process?
There are three stages to the contest:
Stage 1: Application Submission - Open Now!
Deadline to enter: 11:59 p.m. November 30th, 2023
Application
Applicants must fill out an application form on the Muskoka Founders Circle website. In addition to basic information about your business, you will answer questions to demonstrate the strength of your application based on the following criteria:
Regional Economic Impact. Will your new business generate revenue and create jobs in Muskoka?
Business Model. Does your business have a good chance of achieving sustainable profitability?
Customer Demand. Is there local demand for your product or service?
Use of Funds. If you win the prize money, how will it be used, and how important is it to your company’s success at this stage of its growth?
To enter the 2023 Founders Choice Awards contest, click here.
Finalist Selection
Based on the applications alone, five finalists will be selected by our Founders group to move on to the next stage of the competition. Finalists will be advised of their successful application by email no later than December 15th, 2023. For a more detailed description of the selection criteria, click here.
Stage 2: Video Day: January 2024 (Dates TBD)
In preparation for their individual interview each of the five finalists will be invited to attend a one-day workshop where successful entrepreneurs from the Muskoka region will share their views on making a compelling case for your company’s success in an interview format. Finalists will also be invited to book a one-hour session with members of the Founders group for informal business plan mentoring.
If you have been selected as a finalist you will attend a video recording session where you will be asked a series of questions by an interviewer and your answers will be recorded. If you are unhappy with your answer to a question you will be allowed to re-record it. The goal of the session is to capture the potential for your company’s success as described by you. You will be given the interviewer’s questions well ahead of video day to allow you to prepare. You will also be given a copy of the judge’s scoring criteria that will be used to determine the winners.
The videos will then be edited and made available to a selection committee of Founders who will score each business based on the same criteria stated above.
Each entrepreneur will receive a copy of their video to use as they wish to promote their business.
Stage 3: Awards Day: Wednesday, February 28th, 2024
Founders Den - This is a kinder, gentler version of the “Dragon’s Den” show you may have seen on TV. Each of the five finalists will appear on stage, one at a time, in front of a panel of celebrity judges (local Muskoka personalities) and members of the public. Audience members and judges will view each finalist’s video, then judges will ask the finalist questions. Following each Q&A session the judges will privately fill out a scorecard. The judges’ scores will then be combined with those of the Founders selection committee to determine the cash prize winners.
Reception - Following the Founders Den event, a reception will be held in the Trillium Room at the Opera House where audience members can mingle and meet the contest finalists. A dinner buffet will be served along with liquid refreshments.
Awards Presentation - After the final scores have been verified, the winners of the Founders Choice Awards will be announced and presented with their cash prizes.
▾ What are the prizes?
First prize winner will receive a cheque for $10,000, and second prize winner will receive a cheque for $5,000.
▾ ARE THERE RESTRICTIONS ON HOW I USE THE PRIZE MONEY?
We are looking for entrepreneurs whose business is at a stage where the prize money will play a significant role in helping the entrepreneur launch or grow the business. Therefore the money must be spent on the business, to purchase capital equipment or pay for other business-related expenses. During the interviews you will be asked how you intend to use the prize money.
▾ WHAT ARE THE RULES? HOW DO I KNOW IF I’M ELIGIBLE?
For a list of rules and regulations, click here.
▾ WHAT CAN I DO WITH MY VIDEO?
The video is yours to keep and use however you see fit. We expect you will use it to help promote your business on your website, in presentations, etc. It will be a high quality, professionally produced video, and is one of the benefits of competing in this competition and being selected as a qualifier.
▾ HOW MANY APPLICATIONS CAN I SUBMIT?
There is a limit of one (1) entry per person/business per year.
▾ I ENTERED LAST YEAR. CAN I ENTER AGAIN THIS YEAR WITH THE SAME BUSINESS?
You may enter your business as often as you’d like but not if you’ve previously won a Founders Choice Award for that business.
▾ I HAVE A FEW OTHER QUESTIONS. WHO CAN I CONTACT?
You can visit our contact page or send an email to info@muskokafounderscircle.com