ROCHESTER, N.Y.--(BUSINESS WIRE)--Arunas and Pamela Chesonis have pledged $1.5 million to the Simon Graduate School of Business at the University of Rochester over the next three years to establish Chesonis Entrepreneurial Scholarships for full-time M.B.A. students interested in Entrepreneurship.
The scholarships are an effort to leverage the Simon School’s top-ranked business education into growing the region’s next generation of entrepreneurs. Every year up to 10 scholarships will be awarded based on candidates’ need, merit and entrepreneurial spirit.
“We are most appreciative of Arunas and Pamela Chesonis’s extraordinary vision and generosity,” says University President Joel Seligman. “Their gift represents a major commitment both to the Simon Graduate School of Business and to the economic vitality of the greater Rochester region.”
Arunas Chesonis, a 1991 graduate of the Simon School, is founder, chairman and C.E.O. of PAETEC Communications, Inc., one of the nation’s fastest growing telecommunications companies, headquartered in Fairport, N.Y.
“The Simon School was instrumental in giving me the skills and confidence to fulfill my entrepreneurial goals,” Chesonis explains. “My wife and I are proud to deepen our relationship with the program and hope that our support allows others the means to pursue their dreams.” Chesonis will be actively involved in mentoring the scholarship recipients.
“We are deeply grateful to Arunas and Pamela Chesonis for this generous gift,” says Simon School Dean Mark Zupan. “Each year, if we can graduate several students just like Arunas, that will be the most fitting tribute to their generosity and a significant contribution to the long-run vitality of our region.”
Monroe County Executive Maggie Brooks views the scholarships as a positive boost for the entire Rochester area. “The growth and vitality of our future economy is directly linked to our ability to support entrepreneurs and start-up companies, while also cultivating the next generation of entrepreneurs in our region,” says Brooks. “Monroe County is proud to be home to top-ranked educational institutions like the Simon School, and entrepreneurial success stories like PAETEC Communications. I applaud Dean Zupan and Chairman Chesonis on this outstanding partnership.”
Chesonis has long supported the Simon School, in particular through his mentoring of Simon student interns and brand management project work at PAETEC.
The Simon School prides itself as the place Where Thinkers Become Leaders™ and is currently ranked among the leading graduate business schools in the world in rankings published by the popular press, including BusinessWeek, U.S. News & World Report, The Wall Street Journal, Financial Times and Forbes. For example, in the most recent BusinessWeek poll, the Simon School was ranked among the top 30 business schools in the United States. The Financial Times recently rated the School 4th in the world for finance and 6th in the world for both accounting and managerial economics. More information about the Simon School is available on the World Wide Web at http://www.simon.rochester.edu.