Dive Brief:
- Sprint has partnered with Brightstar Corp. and HOBI International to launch the Smartphone Encore Challenge.
- The challenge was created as a way to encourage students to come up with profitable, unique ways to reduce e-waste through innovation.
- Each team of students will develop a concept and business pitch using refurbished smartphones or their components.
Dive Insight:
Submissions will be judged on how well groups define the problem, market, solution, innovation, value proposition, financial feasibility and the delivery of their pitch.
The winning team will receive $5,000 to attend Startup Weekend and begin to launch their idea. They also will receive guidance on their business model from Sprint, Brightstar or HOBI executives.
Sprint started the program as a way to find a solution for the growing amount of e-waste, and to create aftermarket demand for smartphones.
According to the EPA, 135 million cell phones are discarded annually, but only 11 percent are recycled.