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: Application Scoring

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 a proven demand for the product or service? How do you know?

Funds Usage

What will you do with the award money?

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

Stage 3: Video Day

Finalists 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. The selection committee will then score the video presentations based on the above criteria.

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