The HUB at UTSC (University of Toronto Scarborough) – UTSC Startup Competition

ByMaurice

Description:

The UTSC Startup Competition is providing seed money award to residents in The Hub – promising students and recent alumni – who have taken concrete steps to create new businesses and launch a new business initiative.

Comments on Funding:

Residents in The Hub can win one of five awards of $5,000 (cash, plus up to an additional $5,000 in Amazon Web Service and/or Google credits).

Eligibility:

Applicants (The Hub residents) must:

  • be University of Toronto students or recent alumni (up to 2 years from graduation) – OR – must have a member of their core team who meets this qualification;
  • have a member of their core team who is a University of Toronto Scarborough student or recent alum – OR – must have an exception from The Hub’s Director, based on fit with The Hub;
  • be students and recent alums from other universities or colleges as part of their core team, but funds cannot be awarded to such founders directly;
  • state if other entrepreneurial funding has been previously received;
  • state if in residence at another incubator and status of such residence as of January, 2023;
  • be either full-time or part-time students, or recent graduates of their institution;
  • have included those who are taking a break from their studies, so long as the break has not exceeded 3 consecutive years; and
  • be participating as a core team member of one proposed startup.

Applications Steps:

Step 1 – During the qualifying round, applicants must:

Step 2- During the finalist round, applicants (finalists) must pitch their business (required). Finalists will present their pitches in front of all entrants to the competition, the judges, and The Hub staff.

Documentation Needed:

Applicants’ 3-minute video to The Hub for Round 1 of the competition should include:
a) name of their startup;
b) problem being addressed;
c) why this problem “belongs” to them, i.e., their passion and/or competitive advantage;
d) market analysis, i.e., what is the demand for the product or service they are proposing, includes social impact if applicable;
e) market share, what is the share of the market that they propose to acquire;
f) their proposed solution;
g) their team; and
h) their proposed timeline.

Other Things to Note:

$5,000 awards and seed funding

Program Contact:

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    UTSC Startup Competition | TheHub

    About the author

    Maurice

    Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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