Innabox is a company that was started in Spring 2012 by a group students. The company was started out of course in entrepreneurship by the Amsterdam Center of Entrepreneurship(ACE-Amsterdam). Like many courses, this course required students to make groups and write a business plan. Unlike other courses, this course required students to also start the business and make some revenue. The course ended in a well attended final on June 28th. Eleven groups presented their company and showed off their product.
Innabox won the competition element of the course with a social idea. They noticed that celebrities like to support good causes and they developed a series of unique products that raise money for the preferred cause of the celebrity. The basic idea is that they release a mystery box each month with a secret content chosen and/or coming from the celebrity. Fans buy the boxes, Innabox does the shipping and handling, and sends 70% of the profit to the celebrity.
Their idea has one weakness, which is that in order to make the boxes also valuable to fans, to profit is much lower than the price of the box: the boxes cost about € 25 and the profit is about € 6. Nevertheless the idea seems valuable: good causes are excited to participate, and they have managed to find celebrities that support their idea. At the final event they announced the name of their first celebrity (it is a female artist, and you can check their website to find out who she is). Furthermore it is nice to see that courses in entrepreneurship also yield social ideas: the new generation of students does not choose between people, planet or profit but combines these.
I hope that innabox will launch and sell their first box in September and also hope to hear more from the other 10 companies (mail me if you are in one of the other teams and still active, and I am happy to cover the other companies as well on this blog).
Finally, it seems no more than fair to mention Dr. Chihmao Hsieh (university homepage) who organizes this course in entrepreneurship, and managed to organize an exciting final ‘kick out’. I am looking forward to the next edition of this event.