November 28, 2011

Prince Edward, Lennox & Addington CFDC, Picton

Most budding entrepreneurs feel like winners once they research and complete a business plan.   But Tim Ray, an MBA student at Queen’s University, really was a winner.  He entered his business plan into a competition sponsored by PELA (Prince Edward, Lennox & Addington) CFDC and Queen’s University. Tim developed the idea of group food buying online, after seeing the popularity of websites such as Groupon.  As winner of the competition, Ray received at $150,000 interest free loan from PELA.

Tim went on to open his business, FoodScrooge, an online group-buying website for groceries and produce.  He got stores on board, and soon customers flocked to his website.  A feature story in the National Post also boosted his business.

Craig Desjardins, Manager of PELA CFDC, was very pleased with the interest raised by the business plan competition, and is very proud of Tim’s success.      

Photo:  Michael Pugliese, Chief Executive of Michael-Angelo's grocery store, and Tim Ray, Founder of FoodScrooge, a group-buying website for groceries

Photo by Aaron Lynett of the National Post