The five of us founded the Fieldston Entrepreneurship Club this fall out of a shared love of innovation. After forming the club, we joined the MIT LaunchX entrepreneurship competition, to compete in the competition, each grouped was tasked to develop a product or service that helped the environment. After hours of thinking and testing and arguing, we finally decided to produce 100% biodegradable takeout containers. We immediately began designing a production process and gathering market research. After several weeks of work, we all happily agreed that we would scrap the idea try something different. We decided to produce biodegradable disposable coffee cups.
After finalizing our idea, we started preparing for the Mid-Atlantic demo day, for which we needed to make a pitch and powerpoint presentation about our product, market plan, financials and traction. Then on March 31, we pitched to five judges and 34 other teams of young entrepreneurs and channeled the months of hard work and preparation into one three minute performance. After we were just happy to be done with the pitch little did we know that one hour we would be named winner, awarded $5,000 and chosen to participate in the Global Demo day pitch event.
This past Saturday we traveled to Boston for the Global Demo Day pitch event, where we pitched alongside some of the world's best entrepreneurs. It was an incredible experience in which we learned so much about how to pitch and operate a business.
Outside of MIT LaunchX, in the past weeks we have been traveling around NYC talking to the owners of various coffee shops about our incredible product and have gained several potential customers. Last Thursday we placed as finalists at New York's Startupalooza event in which were the youngest team.