In Foundations of Management and Entrepreneurship, teams of students invent, develop, launch, manage, and liquidate a business.
As part of a required year-long course, all first-year Babson College students are given the assignment to develop and run a business during the spring semester. These 28 new businesses were recently launched as part of the Foundations of Management and Entrepreneurship (FME) course, a 7-credit immersion into the world of business.
Twenty-eight teams of students invent, develop, launch, manage, and liquidate a business. Along the way, they immerse themselves in entrepreneurship, marketing, accounting, organizational behavior, information systems, and operations. Babson provides up to $3,000 per startup which is repaid after liquidation of the business at semester’s end.
Students within each business donate 5 hours, along with all profits, to a local community service agency of choice. Agencies supported by FME businesses have included Special Olympics, Habitat for Humanity, Greater Boston Food Bank, Cradles to Crayons, Boys and Girls Club, Community Servings, Friends of the Homeless of the South Shore, and World Vision. Since the program began in 1999, more than $430,000 has been donated to local charities.
According to Associate Dean Rob Major, “The experience is more than just learning how to launch a startup. It’s about exploring career options. It’s about identifying and creating opportunities, understanding personal goals, managing team dynamics, and communicating effectively. Above all, it’s about turning ideas into action.”
Get to Know the 2014 FME Businesses
The company’s mission statement is to provide affordable and convenient packages, created by Babson students for Babson students. These packages are made up of snacks and gifts that are themed for different needs or occasions. @BaboBoxes on Twitter
Babotise is an advertisement company here at Babson that will provide advertisement services to local businesses in Wellesley and Needham including advertisement space in enclosed glass bulletin boards, designing ads, and distributing their menus and flyers. Babotise strives to make the advertisement services of local businesses more effective and efficient while simultaneously providing a benefit to the Babson community.
@Babotise on Twitter
The packaging, local production, and the social value we create during the process of running our business are how our honey is different from everything you can buy in stores. Babson Honey will be selling specially packaged honey, by installing and maintaining four beehives on campus.
BedSideKick is a growing company dedicated to producing convenient bed-side holders that will make the customer's life easier as they will be able to keep their personal belongings (cellphone, tablet, bottle of water, wallet) beside their bed at all times.
Our company is selling fertilizer supplement that will be collecting coffee grounds which will be dried and packaged. We will be acquiring grounds from various locations and selling them to gardeners.
bulletn. is a mobile app where users select their general interests, and a virtual bulletin board is created for each interest. On each board, there will be events in Boston and events on campus that the user would be interested in, as well as other interest-based content like movies to watch, articles to read etc.
Cable Turtle will provide customers with convenient wire organization. The space-friendly products can be used to reduce the length of variously sized wires. We provide two products, the CableTurtle medium and the LP Clean Winder, which is smaller.
CovIt aims to offer consumers an affordable way to display their individuality while minimizing laptop damage. CovIt will sell MacBook covers in a variety of colors and fully customizable stickers in two sizes.
The DoodleBoard is a consumer product bringing the usefulness and versatility of a whiteboard on the go. The DoodleBoard easily folds into a 9” x 9” board (quad fold like a gameboard), but can expand to 18” by 18”, all with a whiteboard surface. It’s truly remarkable!
Encore Music Coolers are coolers with built-in speakers, which are suitable for events ranging from tail-gating parties, and sports team excursions to beach trips and picnics.
EnvoScrubs is an environmentally focused company that sells biodegradable organic cleaning wipes that will have the ability to clean multiple surfaces from dishes to countertops. This product will be sold to schools and local farmers markets.
FitMe is a fitness company that plans to sell spandex belts that hold keys, credit cards, and phones while a person is working out. FitMe is going to reach out to running groups and other athletic teams to sell their product in bulk.
The business plans to also provide customers with a fun, flexible and convenient way to charge and use their phones with an innovative cord for a range of activities from cooking to even driving; imagination is the limit.
Fridge-Pal is a business aiming to solve the problem arising from fridge odor in a sustainable, environmentally friendly way. Fridge-Pal is a product that uses used coffee grounds in order to neutralize fridge odor.
Frocket T’s are soft and stylish slim-fit shirts with customizable colors and pocket designs. Made with organic cotton, Frocket tends to the needs of you, your organization, or sports team! With our crewneck t-shirts, you can look comfortable or classy while expressing your creativity by choosing your look yourself.
The GripStrip is a reusable silicon pad that can stick on almost any surface. The pad allows one to attach almost any solid object to it without leaving a mark, stain, or scratch on any surface. A practical use for this device would be to prevent mobile phones from sliding around in a car by placing atop of a pad on the dashboard.
Heat Me Cup
Heat Me Cup is a quality, stainless steel vacuum flask that allows customers to keep hot drinks from going cold, and cold drinks from warming, for over 24 hours. The product is 18 oz and is customizable by logo of Heat Me Cup, or any logo can be designed for bulk orders.
Locator aims to offer consumers a better way to keep track of the items they find most important in their lives. Through a collaborative business partnership with Chipolo, a team of technology entrepreneurs in Slovenia who designed the Chipolo tracking device, Locator seeks to help a broad market of users find their missing items more efficiently.
Lost-it Group will be purchasing the rights for distributing an app that already exists and selling the hardware for it.
The Onesie Clothing Company will be selling one piece pajama suits which are called onesies in various patterns and animal prints. The goal of the business is to create a social impact by selling fun and comfortable clothing.
PillowTop is a customized headboard that is intended for use of college-age students that live in residence halls or residence towers. The product is being custom-made on Babson’s campus by the entire team. Our mission is to give back countless hours of sleep to students, and keep their room stylish at the same time!
Polar Vortex is a company selling slush making cups, giving customers their personalized slush anytime anywhere. The slush cup is a simple device which one simply freezes overnight before use when any beverage can be transformed into a slush.
Second Take believes in providing an entertaining and inexpensive movie experience for Babson College students. Our service is to provide an excellent service that shows newly released and classic movies on weekends. There will be six showings, each with a different theme that supports a different charity. The showings will be on Friday nights in Olin Auditorium starting at 8pm.
ShapeCreate is a business that sells 10 x 10 whiteboards with edges that connect like a puzzle. This innovative and creative approach to an old product has the goal of promoting creativity and problem solving. ShapeCreate serves both consumers and businesses. @ShapeCreate on Twitter
ShapeCreate on Facebook
TapTag is a technology company that provides Near-Field Communication (NFC) products to its customers—each of which are personally programmed with the desired information/action. TapTag’s mission is to empower our customers with the ability to share information in a highly recognizable form by utilizing the latest in networking technologies.
Twystwyst sells wire winders to both companies, as a promotional object, and consumers, as a handy utility to store and use wires. The wire winder works by placing a wire in between two plastic caps that rotate to wind the wire, keeping the wire safe, untangled and easily windable. The product is circular with a 6 cm siameter and a curve top on which we will (optionally) apply vinyl stickers to suit the needs of the consumers or businesses.
Wired Up is a high performance athletic shirt made of a dry fit material. The shirt has four consecutive loops running up the front left side of the shirt with the function to wire your headphones through in order to keep them secured and close to your body.
About Babson College
Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds™. The College is a dynamic living and learning laboratory, where students, faculty, and staff work together to address the real-world problems of business and society—while at the same time evolving our methods and advancing our programs. We shape the leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to create economic and social value. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action® as the most positive force on the planet for generating sustainable economic and social value.
By Barbara Spies Blair, email@example.com
, 781-239-4621 |
2/27/2014 12:00 AM