Summer Students Businesses Launch at Babson
All first year students at Babson, invent, develop, launch, and manage a business in their Foundations of Management and Entrepreneurship (FME) course. All of the profits of each business are donated to a local social services agency of their choosing. This summer there are three FME businesses on Babson’s campus: LitBit, Beantown Blankets, and Urban Hammock.
LitBit is a company that makes the dark a fun place by providing sound activated, LED bracelets. The idea behind the business was originally pedestrian safety. They created a safe, alternative, reflective bracelet, but also realized a demand for night entertainment and LitBit was created.
“The FME experience is like non-other,” says CEO Collin Hanley. “I have learned how to organize and find solutions to any problem that arises. With the help of a strong team, clear communication, and passion-filled team chemistry, problems are easily solved.”
They have also donated to the United States Veterans with our July 4th special bundle of bracelets.
Beantown Blankets sells blankets that are fleece on one side and waterproof on the other. They are perfect for picnics, outdoor activities, sporting events, concerts, and much more! For every blanket that is purchased a duplicate blanket is hand gifted to a homeless individual through Father Bill’s Homeless Shelter.
“My mom and I had thought of the name and the cause in December of 2015. However, the whole team played a role identifying the true need of blankets for homeless individuals.” says CEO Max Perry. “We decided that a durable blanket with a waterproof side was the perfect solution for those who are locked outside of shelter after curfews.”
Urban Hammock sells cost effective, low-impact portable hammocks in order to connect the urban or suburban consumer with nature. Weighing in at only half a pound, and packing to be a bit bigger than a hand, it’s truly a simple, effective way to relax on the go.
The idea behind the business was to offer camping-style hammocks to a more casual market at a lower price, to create awareness of the outdoors and the environment.
“We believe that the most effective way to start caring about the environment is to actually experience it,” says CEO Lee Smith-Feinberg.
Close of business for FME is July 20, 2016.