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Frequently Asked Questions

WHAT IS THE PROCESS?

There are five stages to the contest:

Stage 1: Application Submission

Applications will be accepted from February 1, 2020 to March 15, 2020 @ 11:59:59 p.m. EST.

Stage 2: Qualifier Selection 


All applications will be evaluated by the Founders based on the following criteria:

Regional Economic Impact. Whether now or in the future, will the business generate economic activity in Muskoka?

Innovation. Is the business innovative? How?

Scalability. Is the business scalable? How?

Profitability. Do you have a business plan for the business? When will it be profitable?

Demand. Does the business solve an identifiable problem? Is there proven demand for the product or service? How do you know?

Funds Usage. What will you do with the award money?

Five qualifiers will be selected to move on to the next stage.

Stage 3: Video Day

Qualifiers will be notified of their selection on or before March 23rd,2020. On Saturday, March 28th and Sunday, March 29th, 2020 all qualifiers will attend a video recording session where they will present their business idea in front of a video recording crew. Recordings will be used to create professionally produced videos that will be shown to the judges and later given to the qualifiers for their own marketing and promotion use. 

Stage 4: Meet the Founders

On Thursday, April 16th, 2020 the five finalists will meet individually with a group of Muskoka Founders for a question and answer session. The objective of the session is for the finalists to make an impression on the Founders by articulating their business plan succinctly and answering questions. The Founders will have seen the video presentations and will be prepared to test the finalists’ knowledge and conviction. Following the interviews, the Founders will meet to determine the first, second and third place prize winners for the 2020 Founders Choice Awards.

Stage 5: The Awards Dinner


All five finalists will be expected to attend the IMPACT Awards gala dinner on Thursday, April 23rd, 2020 at the JW Marriott Rosseau in Minett. Each finalist will receive two free tickets to attend the event. Finalists will be recognized for their achievements, and vignettes of the video presentations will be shown. At the end of the evening, the Founders Choice prize winners will be announced.

WHAT ARE THE PRIZES?

At the IMPACT Awards virtual gala May 27th, 2021 the first prize winner will receive a cheque for $15,000, the second prize winner will receive a cheque for $10,000, and the third 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

MUSKOKA FOUNDERS CIRCLE

Founders Circle is a group of Muskoka-based business professionals committed to promoting economic development in Muskoka through support for local entrepreneurs. The group’s first initiative, The Founders Choice Awards, provides cash and mentoring to entrepreneurs with promising start-up businesses.

Get in Touch

CONTACT

info@muskokafounderscircle.com