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- All Subjects: Entrepreneurship
- All Subjects: Fashion
- Creators: Department of Marketing
- Member of: Theses and Dissertations
In this paper, our Founders Lab team members — Jacob Benevento, Sydney Evans, and Alec Whiteley — recount the year-long entrepreneurial journey that led to the creation and launch of our venture, Certified Circular. Certified Circular is a program that certifies on-campus events for implementing circular practices into their activities as well as off-campus businesses. The venture was formed in response to our group’s propelling question and industry selection, which called on us to create and market a venture within the ethical circular economy.
The market for searching for food online is exploding. According to one expert at Google, “there are over 1 billion restaurant searches on Google every month” (Kelso, 2020). To capture this market and ride the general digital trend of internet personalization (as evidenced by Google search results, ads, YouTube and social media algorithms, etc), we created Munch to be an algorithm meant to help people find food they’ll love. <br/>Munch offers the ability to search for food by the restaurant or even as specific as a menu item (ex: search for the best Pad Thai). The best part? It is customized to your preferences based on a quiz you take when you open the app and from that point continuously learns from your behavior. This thesis documents the journey of the team who founded Munch, what progress we made and the reasoning behind our decisions, where this idea fits in a competitive marketplace, how much it could be worth, branding, and our recommendations for a successful app in the future.
This thesis will bring together students to engage in entrepreneurship by finding, measuring and sharing strategic market opportunities. From a student’s perspective, it will take a deep dive into the world of startup ecosystems, markets and trends utilizing both qualitative and quantitative market research techniques. The information gathered has been curated into a productive, meaningful manner, through a report titled “The State of Startups: A Student Perspective.” <br/>The first key theme of this thesis is that market intelligence can be a powerful tool. The second key theme is the power of knowledge implementation towards competitive strategies. The first section of the thesis will focus on identifying and understanding the current “startup” landscape as a basis on which to build strategic and impactful business decisions. This will be accomplished as the team conducts a landscape analysis focused on the student perspective of the student-based North American “entrepreneurial” ecosystem. The second section of the thesis will focus specifically on the personal experiences of student startup founders. This will be accomplished through the analysis of interviews with founders of the startups researched from the first section of the thesis. This will provide us with a direct insight into the student perspective of the student-based North American “entrepreneurial” ecosystem.
The Student Art Project is art patronage for the 21st century—a curated online gallery featuring exceptional student artists. The Student Art Project is a highly curated experience for buyers. Only five artists are featured each month. Buyers are not bombarded with thousands of different products and separate artists “shops”. They can read artists bios and find art they connect with.
Student artists apply through an online form. Once accepted to the program, artists receive a $200 materials stipend to create an exclusive collection of 5-10 pieces. Original artwork and limited edition prints are sold through our website. These collections can potentially fund an entire year of college tuition, a life-changing amount for many students.
Brick-and-mortar galleries typically take 40-60% of the retail price of artwork. The Student Art Project will only take 30%, which we will use to reinvest in future artists. Other art websites, like Etsy, require the artists to ship, invoice, and communicate with customers. For students, this means less time spent in the classroom and less time developing their craft. The Student Art Project handles all business functions for our artists, allowing them to concentrate on what really matters, their education.
Meanwhile, digital is still being defined, as countless people work to determine best practices and reconcile the unending amount of information available into something that can be used. Trends in digital include the concept of new media, blogging, social media and new channels of media. Overall, we are seeing a shift to user-‐ generated content, available all the time, and a proliferation of content being created and published on the Web.
Some of the ways these two industries are colliding include the rise of lifestyle bloggers, developments and usage of technology, an abundance of new e-‐commerce models, and finally, a shift in the ways consumers curate and discover products online.
Predictions for the future include a more streamlined and user-‐friendly process for search and product discovery online, increase in social commerce and personalization of products, and finally, a return to brick and mortar shopping, but with an improved, experiential model. These trends will affect industry stakeholders dramatically, and so necessary actions for these stakeholders are also discussed, such as allocating more resources to content generation and e-‐commerce, giving consumers the ability to personalize, and improving their physical shopping experiences to provide something valuable and entertaining.