Babson College Student Entrepreneurs Donate Profits to Local Charities

Aug 12, 2011, 11:38 ET from Babson College

WELLESLEY, Mass., Aug. 12, 2011 /PRNewswire-USNewswire/ -- Babson College students earned more than $23,000 for charitable organizations while learning business fundamentals by establishing 18 start-ups during their first year of college.

As part of the school's required full-year course, Foundations of Management and Entrepreneurship (FME), teams of first-year students began developing business plans when they arrived in September 2010. While they learned the nuts and bolts of inventing, developing, launching, managing, and liquidating a business, they were putting the lessons into real world practice.

In January students launched 18 ventures which reaped $23,856 in profits for selected charities. In addition to running their businesses, the students donated their time and resources to local community service agencies of their choice.

FME student businesses have donated nearly $400,000 in profits to charity in the last eleven years.

FME has been recognized by the United States Association for Small Business and Entrepreneurship (USASBE) as the number one "Innovative Entrepreneurship Education Course" in the country. Visit http://www3.babson.edu/babson2ndgen/Ugrad/ugradnewstudents/curriculum/fme.cfm

Spring 2011 Babson FME Businesses

*Babson Havaianas are durable, waterproof, and colorful flip-flops sold at low price. Enjoy Boston's springtime in the sun and maximize your foot's freedom.

*Beat Bomb sells a revolutionary, portable mini-speaker that delivers extra-ordinary sound capacity. The Beat Bomb speaker weighs less than 1/5 of a pound and is less than two inches tall. Beat Bomb's unique capsule design offers customers a sleek and breathtaking way to experience sound outdoors, on the go, or at home.

*BIBO offers Le Whif coffee and Le Whif chocolate products. These foods allow the consumer to breathe in the taste and caffeine of coffee without the cup, and chocolate without the calories!

*Boxers or Briefs sells Babson-themed boxers, briefs, and women's shorts in different colors and three sizes. Themes include the Babson logo or catchphrase that relates to the college.

*Coollapsible is a water bottle that folds into the size of a fist and can fit into your pocket. Coollapsible water bottles eliminate need for space and enhance sustainability by decreasing the use of disposable water bottles.

*Data Bands are stylish USB wristbands customized with names and logos and uploaded with information. Data Bands can be used for business, promotion, and data storage.

*Everlast Energy is an inexpensive, fast acting, effective alternative to caffeine developed to increase energy and attentiveness of students, professors, and members of the Babson community. Each Everlast Energy Mint, Chocolate Buzz Bite, and Mint Chocolate Buzz has more caffeine than a cup of coffee with minimal calories.

*FineTouch Laptop Art sells protective laptop skins made from colorful scratch-art that gives you an opportunity to draw your own creative designs. No artistic skills needed, just imagination and a love for fun!

*Foldtastic is made of recyclable plastic that has been cut so that it folds in certain places, allowing clothes to be quickly folded and neatly pressed, eliminating the need for ironing. It comes in four colors and two sizes, for adult and children's clothing. It is easy to store, lightweight, and only takes a couple of minutes to learn how to use.

*GLOW provides its customers with fun alternatives to standard ice cubes and drinking straws. GLOW's unique products: Litecubes(r) and LiteStraws(r) are re-usable and light up using LED technology. GLOW also plans to offer the litesport(r) golf ball to its B2B customers. The litesport(r)golf ball lights up, cools drinks and is easily customizable.

*Memor-Key is an external flash drive in the shape of a silver key that simplifies the data transferring process and has a 4GB memory capacity.

*OneCover provides convenience in quality products for iPhone and BlackBerry users to integrate multiple personal possessions by offering a phone case that has a pocket for credit cards, ID cards, licenses, etc.

*Sunova Lenses provides stylish and durable sunglasses that allow individuals to express their personality. All products offer 400 UV protection, blocking out 100% of UVA and UVB radiation. The sunglasses come in a wide array of colors and designs. The arm of the sunglasses is customizable with the name or logo of an organization.

*PresenterPen is a pen, a 2GB flash drive, and a laser pointer all in one, fulfilling all of your presentation needs in an efficient and compact way.

*The Radioactive Group provides students a unique and creative way to express school spirit with glow-in-the-dark 3"x2" stickers of the letter "B" as well as wristbands that say, "Work Hard-Play Harder."

*Whiteboard Deals delivers great new deals that feature low prices and great quality to Babson students every month.

*Wicked College App provides an event finding service for users that is accessible through iPhone, Android, and Blackberry phones. It will find events at local colleges and clubs as well as local community service opportunities for its users. Promotional deals will also be offered through the application.

*X-Charge provides a solution for Smartphone users who often run low on battery by selling rechargeable cases for iPhones and Blackberry's. X-Charge also sells detachable batteries that are easily stored until needed, creating convenient, portable and powerful battery solutions for Smartphones.

Organizations Supported By Babson FME Businesses

*Nativity School
*Community Servings
*Lemonade Day - Boys and Girls Club Dorchester
*MS Society - Greater New England Chapter
*Boston Aids Africa
*Needham Housing Authority
*Wellesley Council on Aging
*Citizens Schools
*Harvard Square Church Meals
*Cor Unum Meal Center and Japan Relief through American Red Cross
*Special Olympics of Mass  (2)
*Cradles to Crayons
*Cure Paralysis - Thomas E. Smith
*Cradles to Crayons and Japan Relief
*Boys and Girls Club
*Friends of the Homeless of the South Shore
*Habitat for Humanity of Greater Lowell

Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds(TM). 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(TM) as the most positive force on the planet for generating sustainable economic and social value.

Babson College in Wellesley, Mass., is recognized internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program, and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu.

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SOURCE Babson College



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