Three Queen’s teams take home $150K loans for local business start-ups

Posted on March 10, 2011

MBA student Chris Sinkinson demonstrates CIBO Systems’ winning restaurant management system
MBA student Chris Sinkinson demonstrates CIBO Systems’ winning restaurant management system

Unique business plan competition provides funding for Queen’s teams starting businesses in Prince Edward or Lennox & Addington Counties

Finalists pitched their business plans to a panel of judges from competition sponsors Queen’s School of Business and Prince Edward/Lennox & Addington Community Futures Development Corporation (PELA CFDC) on March 5 at Goodes Hall. After hearing presentations from the five finalists, the judges announced the winning three teams:

  1. CIBO Systems – a restaurant management system using tablet computers and customers’ smart phones. Led by Queen’s MBA students Ricky Chandarana, Simon Hamilton and Chris Sinkinson.
  2. Foodscrooge.com – an on-line group-buy venture providing deep-discount grocery items through a network of independent grocers. CEO Tim Ray is a graduate of Queen’s Accelerated MBA for Business Graduates.
  3. Green LAB – a software developer led by Queen’s Mechanical Engineering students Patrick Leslie, Max Bailey, and Nabeil Alazzam. Their RenoLogic mobile phone app provides solutions for improving home energy efficiency.

Each of the three winning teams took home $150,000 in interest-free loans to start businesses in Prince Edward/Lennox & Addington Counties.

For more information please visit www.qsbpela.ca.


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