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CIBC Invests in Queen's School of Business Entrepreneurs

    First funding recipient launching a private charter airline service

    KINGSTON, ON, June 11 /CNW/ - Budding entrepreneurs graduating from
Queen's School of Business will soon receive expertise, resources and even up
to $15,000 from Canada's leading business school, thanks to a $500,000
donation from CIBC announced today.
    The CIBC Entrepreneur Development Scholarship Program completes the
business school's innovative Dare to Dream program, which provides three grads
each year with three months of financial support, business contacts and advice
from Queen's School of Business faculty as they launch their own business
    "With more than forty per cent of Canada's GDP driven by entrepreneurial
business, we recognize the need to help develop new entrepreneurs and are
pleased to continue our long standing support for Queen's School of Business
in this endeavour," said Dean Chapman, Associated Vice President, CIBC.
    Entrepreneur and recent Queen's MBA graduate Sushee Perumal will be one
of the first participants in the program, and will use the internship to
launch JetDirect, a private charter airline that will run out of Kingston,
Ontario. Shawn Gee, one of the other interns and also a Queen's MBA graduate,
is developing a company that will provide wireless Internet access in
    "More and more students enter our programs with the goal of developing
the skills required to launch their own business ventures, and thanks to
CIBC's historic support, Queen's School of Business is at the forefront of
developing curricula, research and support for entrepreneurs," said David
Saunders, Dean of Queen's School of Business.
    Students interested in the internships submit their business plans as
well as a proposal for the three month internship to a selection committee at
Queen's Centre for Business Venturing, a centre of knowledge and expertise in
the creation, leadership and management of new ventures, housed at Queen's.
During the three months, the students will receive up to $15,000 in funding,
which will be tied to the completion of monthly deliverables, as well as
guidance from the new entrepreneur-in-residence at Queen's School of Business,
Dr. Grant Bartlett.
    "The Dare to Dream program will dramatically improve the odds of success
for Queen's graduates who possess the entrepreneurial spark and well
researched, innovative ideas for new business ventures," said Elspeth Murray,
Director of Queen's Centre for Business Venturing and CIBC Faculty Teaching
Fellow in Entrepreneurship. "Advice from experienced entrepreneurs and
introductions to investors are often all it takes to make a venture business
dream a venture business reality."
    Over the years, CIBC has been a strong supporter of entrepreneurship
studies at Queen's School of Business, providing the core funding for Queen's
Centre for Business Venturing, establishing the CIBC Professorship in
Entrepreneurship and the CIBC Curriculum Development Fund, which allows the
QCBV to produce new venture case studies. For more information on the Queen's
School of Business Dare to Dream program, visit

    About Queen's School of Business

    Queen's School of Business ( is one of the world's
premier business schools, offering undergraduate and graduate degrees and
non-degree executive education programs. Programs include: Queen's full-time
MBA, ranked No.1 in the world outside the US by BusinessWeek; Queen's-Cornell
Executive MBA, Queen's Accelerated MBA for Business Graduates and Queen's
Executive MBA offered by videoconference in cities across Canada; Queen's
Ottawa Executive MBA; the largest offering of open enrolment executive
development programs in the country, ranked in the top 15 by Financial Times
(UK) and BusinessWeek; Queen's Bachelor of Commerce, renowned for its rigorous
entrance standards; and Queen's MSc and PhD in Management programs, which
produce leading researchers for industry and academe.

    About CIBC

    CIBC is committed to supporting causes that matter to its clients,
employees and communities. CIBC aims to make a difference in communities the
bank calls home through corporate donations, sponsorships and the volunteer
spirit of employees. With a focus on youth, education and health, and employee
commitment to causes including the Canadian Breast Cancer Foundation CIBC Run
for the Cure, the United Way and the CIBC World Markets Children's Foundation,
CIBC is investing in the social and economic development of communities across
the country. In 2006, the CIBC group of companies contributed more than
$36 million globally to charitable and non-profit initiatives. Of this,
$28 million was invested in Canada to support national, regional and local

For further information:
For further information: or to speak to a Dare to Dream intern, please
contact: Josh Cobden or Amy Laski,,, Environics Communications, (416) 920-9000