BRACEBRIDGE — A small start-up business that received a $15,000 first prize in the 2019 Muskoka Founders Circle business promotion is moving to Montreal.
But not before giving back the money, framed as a “pay-it-forward donation” to the private economic development fund.
Sheertex recently announced plans to move its operations to Montreal.
It is located on Ecclestone Drive and makes expensive indestructable pantyhose.
“We leave Muskoka with mixed emotions,” said Katherine Homuth, founder and CEO of Sheertex, in a release from the Founders Circle.
“Our manufacturing process is very specialized and an opportunity in Montreal became available that addresses all of our immediate growth requirements, so we moved quickly.
“We will be forever grateful to Bracebridge and Muskoka for incubating our young company.
“And the work that Founders Circle is doing deserves to be supported, so we’re pleased to be able to say ‘thank you’ in this way.”
Sheertex’s donation of $15,000 matches the amount they received as first prize winner of the 2019 Founders Choice Awards.
The independent awards recognize Muskoka-based small companies that are judged to have the most potential for growth and success. Funding for the awards and other Founders Circle initiatives is provided solely through donations from local businesses, not-for-profits, and individuals.
“One of our selection criteria for the Founders Choice Awards is that the company contributes to the economic growth of the Muskoka region,” said Rick Dalmazzi, executive chair of Founders Circle.
“With their imminent move to Montreal that will no longer be possible for Sheertex, so they graciously decided to ‘pay it forward’ by donating an equal amount to support future aspiring entrepreneurs in Muskoka.”
About Muskoka Founders Circle:
Muskoka Founders Circle is a project of the Rotary Club of Gravenhurst and is supported by the Rotary Clubs of Bracebridge and Bracebridge/Muskoka Lakes, as well as many Muskoka-based businesses, not-for-profits and individuals.
The goal of Founders Circle is to promote economic development in the region. Its first initiative, the Founders Choice Awards, rewards deserving entrepreneurs with cash prizes to help fund their young companies.