I have a slightly different opinion than others. Yes Booth is an awesome school. But if you want to live in Toronto in the long term I don't see the point of going to Booth (or any other top school in the US maybe except H/W/S). Ivey's network in Toronto is pretty much unmatched. And I met some Ivey alumni and they seem
incredibly receptive. Is Booth's network that strong? Especially so far away from Chicago? Somehow I have an impression that commuter schools have a weak community feeling and hence a weak alumni network (I am sure there are exceptions to this).
Remember that at the end of the day the school does not make you, you make yourself. Especially if you want to be an entrepreneur. If you have a crappy business plan you won't get any venture funding even if you are from HBS. But otoh if you have a solid business plan your background isn't going to matter much.
And as far as consulting is concerned you will have access to top consulting firms at Ivey. Check out this Ivey Management Consulting Club Post Recruiting Survey Results
https://iveymbaa.ca/clubs/consulting-club/Out of 21 students in the club, there were 16 first round interviews from M/B/B. On average each of the 21 students received 3 first round interviews (counting other firms as well). If you have the $70k full tuition scholarship on resume I am sure you will receive a first round interview from M/B/B. Of course after the first round it's your own merit and the school you attend doesn't matter.
In the long term $70K isn't a lot of money. But in the short term it is. If I were you and I knew I wouldn't have to worry about tuition I would take a bit more risk in entrepreneurial ventures. Otherwise if I am saddled with a $150k debt (at Booth) I would head to banking/consulting and apparently neither is a good preparation for entrepreneurship.
I personally am not interested in Ivey as I am not into consulting. But if I were I would take Ivey any day of the week (with a $70k scholarship). Without any scholarship obviously Booth. Btw I am from Toronto as well.