Hamilton, ON (June 11, 2014) – Formarum has been selected as a finalist for the 2014 LiON’S LAIR Competition, an opportunity for entrepreneurs and innovators to pitch their idea to win over $100,000 in cash and in kind resources. LiON’S LAIR is a joined effort between The Hamilton Chamber of Commerce and Innovation Factory.
Formarum, along with 9 other finalists, were selected to compete in this year’s competition after their business plans underwent careful evaluation by a series of industry professionals. The next round of the competition will include preparation for a 25-minute pitch and question session with the “Lions”, a panel of business experts and acting judges.
This year’s “Lions” are: Carmela Trombetta (RBC Royal Bank), Blair McKeil (McKeil Marine), Mario Paron (KPMG), Jeff Paikin (New Horizon Homes), and Tonia Jahshan (Steeped Tea). For full biographies on each Lion, please visit pitch.ca/lions/2014-lions.
Each finalist will have their pitch evaluated by the “Lions” who will determine business needs, impact on the community, commercial feasibility, and ultimately will decide which company receives investments.
“We are very proud to have been selected as a finalist. Lion’s Lair is a huge opportunity that we have been waiting for to present our product and business to a panel of expert judges and receive feedback and hopefully support in taking our business to the next level,” said Seyed Nourbakhsh, Formarum founder and CEO.
Over the summer, Formarum will partake in training sessions which will help them prepare for their pitch to the “Lions” in late-August. The pitches will be filmed by Cable 14 and will be featured at the LiON’S LAIR Gala.
The LiONʼS LAIR Gala will be held at Carmenʼs Banquet Hall on October 2, 2014. This event will reveal the Lion’s investment decisions live on stage.
LiONʼS LAIR Gala tickets are on sale now at pitch-it.ca. The site will also be updated throughout the summer, providing up-to-date information on Formarum and the other finalists and their progression.
Formarum is a Canadian Corporation centered on an award-winning water disinfection device that has received positive acclaim and support from the industry and government. This device is an automatic water sanitizer for recreational water bodies with the ability to reduce Chlorine consumption by up to 90%. Our system enables consumers to reduce maintenance time and operation cost while eliminating the health hazards of pool chemicals and providing a comfortable and enjoyable swimming experience.
About Hamilton Chamber of Commerce
Representing over 1,000 businesses and institutions that employ more than 75,000 people in Hamilton, Ontario, the Hamilton Chamber of Commerce is the city’s 169 year-old voice of business and thought leader in commerce. In addition to helping provide solutions to the day-to-day challenges of its member businesses, the Hamilton Chamber provides leadership on city building initiatives that are designed to stimulate commerce and increase prosperity in the community. www.hamiltonchamber.ca
About Innovation Factory
Innovation Factory is the Regional Innovation Centre for Hamilton in the Ontario Network of Excellence, leveraging funding and support from all three levels of government and the city’s top private sector and institutional partners. Our goal is to stimulate economic activity in this city by helping Hamilton businesses embrace the principles of innovation. www.innovationfactory.ca
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