As part of one of his classes, Mavronicolas and his team (Man Lee, Jones Moses, and Tyler Jaeger) began the process of developing an online marketplace to allow students to buy and sell their textbooks and lab equipment to each other.
The idea won them a runners up place in last Spring's Cangialosi Business Innovation Competition (CBIC). They just recently launched the marketplace, now called Backpack 'Em at UMBC and have plans to launch it at other universities in the coming months.
1. Tell us a little about your company, and what makes your business
unique?
We created Backpack ‘Em to address the absence of a student centered marketplace. With costs of course materials constantly on the rise, students have been going to their social circles to make exchanges first.
Backpack ‘Em brings organization and ease of use into the equation. Browse by subject, course number, or teacher, and get a listing for books for sale by fellow students instantly. Schedule a meet up time with each other, and make the exchange. The power is in students hands. You’re not at the mercy of book distribution companies anymore.
The possibilities don’t stop with just course materials on Backpack ‘Em. We empower students to sell any school appropriate materials: books, lab equipment, furniture, concert tickets, and more!
2. Are there classes on campus that have helped you the most?
We started this project as a team in Dr. Karabatis’ IS420 (Database Application Development) class and learned a lot there in interfacing a database on the back-end with a user interface on the front-end. I also took Greg Cangialosi’s ENTR320 (Entrepreneurial Marketing) class where I learned how to approach today’s marketing landscape through a focus on inbound methods as opposed to ineffective outbound practices.
3. What are some resources that have helped you the most?
(Magazines, Books, Websites…)
If you are interested in reading a book geared more towards tech startups, I would recommend reading The Lean Startup by Eric Ries. His focus on innovation through iteration in the present is profound in today’s constantly changing technology landscape.
I also follow articles and blog posts in Inc. Magazine and 500 Startups for quick reads.
Normally I wouldn't recommend a book that I’m not completely finished with yet, however Influence by Robert Cialdini has been a very good read thus far and excellent for anyone looking to go into entrepreneurship, sales, marketing, along with any other positions that involve persuasion.
4. What is the toughest decision you have had to make in the last 6
months?
Whether or not to apply to the CBIC. At the time, we had just started to ramp up our efforts into making our IS420 project a reality. We could see that the time involved in the different stages of the competition would slow down our development of Backpack ‘Em, but decided to apply to it anyways.
It turned out to be a very good decision as we not only made it to the final stage of the competition, but also developed a business plan, worked closely with a mentor that was paired with our team, and pitched to a group of investors. Everything that we learned and experienced during this competition led to some integral changes which we have implemented in Backpack ‘Em today, along with more in store for the future.
5. What advice would you give other student entrepreneurs?
Never settle. If you dream of driving change and not holding the average day job, perseverance is key.
Make connections. Many entrepreneurs have been in your shoes before and are willing to provide some guidance, given that you prove your worth through your actions rather than your words. This also includes making connections with like-minded students. Everyone has a strength that they can bring to the table to make a stronger team - you can’t do everything on your own.
Fail Better. The best way to learn is from trying something first hand and failing at it so that you have an idea of how you can do it better the next time. Many people that you will come across will have great ideas, but these ideas will never come to fruition if they don’t have the courage to act upon them and turn them into reality.
Reach out to Andrew & Visit the Backpack 'Em Website to learn more.
