FAQs
Your questions, answered. Please review our FAQ’s before entering the contest.
Your questions, answered. Please review our FAQ’s before entering the contest.
Frequently Asked Questions
Your questions, answered. Please review our FAQ’s before entering the contest.
This is your moment!
Make your pitch! Make an impact! Entries may be provided via upload in the format of your choice. Show us why we should choose you!
Muskoka 4.0 Frequently Asked Questions
1. What is Muskoka Futures and what do they do?
A: We are a not for profit business development organization. Our vision is to participate in creating an innovative economy and to stimulate job growth; enticing future generations to build their careers in Muskoka. We help businesses thrive by providing advice to, and investment in, businesses in Muskoka.
2. Is this a grant/free money?
A: No. Muskoka Futures is making an equity investment in the company that is chosen as the winner of the contest. Muskoka Futures will have an ownership stake in the company.
3. What do you mean by impact?
A: The winning entry will be expected to have a quantifiable economic impact in the District of Muskoka, this could be in the form of job creation, new industry, positively impacting an existing industry etc.
4. What do you mean by scalable?
A: The company’s product or service can adapt and grow nationally and/or internationally.
5. What do you mean by strength of founders/team?
A: Who are the founders and what are their skills and experiences that will make the company successful.
6. Do I have to be from Muskoka?
A: No, however your business must be able to demonstrate quantifiable economic impact in Muskoka (refer to Q3).
7. Can I be from Muskoka?
A: Yes, however your business must be able to demonstrate quantifiable economic impact in Muskoka (refer to Q3).
8. What happens if I am shortlisted?
A: A draft Term Sheet will be provided, followed by an interview with principals. Following the interview process those who qualify will proceed to the due diligence phase of the competition.
9. Who will be completing the due diligence work?
A: Muskoka Futures has engaged a consultant at its own expense to provide due diligence.
10. What can I expect during the due diligence phase?
A: You will be contacted by the consultant to provide relevant documentation and information to validate your business idea, product or service and market.
11. Who is on the selection committee?
A: The selection committee is made up of members of Muskoka Futures staff and Board of Directors and a representative from Ontario Centres of Excellence.
12. What happens if I am a finalist?
A: An in person meeting will take place at which time you will deliver a practice pitch and field questions from the selection committee to prepare you for the final event.