What an incredible year it has been for us as entrepreneur students at UD – a journey that started with a small business idea that ultimately lead to a big win at a start-up funding competition.
On April 25th, our idea, Revive, was granted $12,000 of funding after we won second place and the Audience Choice Award in the Horn Program’s Hen Hatch Pitch Competition.
Revive helps women transform their closet from storage into a revolving source of new clothing options by allowing them to swap the clothing they no longer wear with other women in their area through a mobile app and organized swap events.
The problem we’re focused on is that women have closets filled with clothing, yet they feel like they have nothing to wear, and they are wasting thousands of dollars on apparel that often just sits in their closet. After being seen in an outfit once or twice, women lose interest in this clothing and tuck it away. They always want to wear something new or ‘on trend.’ However, keeping a closet constantly updated by purchasing new items is too pricey and not all that convenient to do.
By focusing on swapping, Revive is creating a community of women who know that one woman’s trash can be another woman’s treasure.
Although we each had an interest in entrepreneurship and fashion, we didn’t become a team until we all met in September through a class titled, Startup Experience, led by Vincent DeFelice. As a team, we immediately clicked, but our idea had not. Our professor had a method he called “The Bottom Three” where he would rank the bottom three teams in the class each week in order to motivate them to improve their business strategies. That first week, we were ranked in “The Bottom Three.” However, his method clearly worked because we were never there again.
We have come a long way since, and it has definitely been a journey to get to where we are today. It’s ironic when we look back on it because we never thought at that moment of being in “The Bottom Three” that we would have been in the situation we were in just last week at the Hen Hatch Pitch Competition.
In fact, we were a top three finalist in the Horn Program in Entrepreneurship competition, and there were a record 70 applications this year.
Hen Hatch was the most exciting, gratifying experience we have had as a team thus far. We prepared and practiced for weeks, with mentors alongside us coaching us throughout. As a team we worked so hard on our idea, and we were excited to finally share it with everyone else.
The competition was truly an amazing opportunity. There were many great teams alongside of us like Geoswxap (which won 1st place), Vibrating Therapeutic Apparel, Tennant U and many more. From the innovation showcase, to networking, and to the pitch itself, it was an experience in each of our college careers that we will never forget. We hoped this competition would open doors for us, and we feel lucky that these doors are starting to open.
Everyone should have the opportunity to share their bright ideas. With our $12,000 prize and incredible feedback from judges, we will now be able to develop our ideas into a true business venture. We are so grateful that we had the opportunity to be a part of such an incredible event that challenged us to do more. There is only more to come!
Revive teammates and fellow Horn Program for Entrepreneurship students Emma Lynch (Tower Hill ’15), Palina Ivanova and Avalon Greene contributed to this article.