Queen’s Centre for Enterprise Development (QCED) was dissolved on March 6.
Donna Janiec, vice-principal (finance and istration), proposed the dissolution of QCED on Jan. 4, which would close down QCED as a corporate entity. The Board of Trustees Capital Assets and Finance Committee approved the motion for dissolution at their meeting on March 3.
QCED was a subsidiary Queen’s created to share knowledge from the Smith School of Business with small- and medium-sized businesses, according to a memorandum from Janiec.
“There are no prospects of using [QCED] in the near future for any business activity,” Janiec said.
“Queen’s is incurring unnecessary annual costs to keep the corporation active, such as regulatory filings, and wishes to save on such costs as well as the human resources needed to maintain an inactive corporation.”
QCED has been inactive since May 2016 after its incorporation on Feb 2, 2001.
Despite the dissolution of QCED, Smith’s Centre for Business Venturing (CBV) will continue providing services to students and businesses.
“CBV continues to provide expertise in the creation, leadership, and management of new ventures, including running several student programs and initiatives, core programs such as the Dare to Dream internships, the Kinnear New Venture Competition, and the Upstart Venture Challenge,” the University said in a statement to The Journal.
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