Here at the Dingman Center for Entrepreneurship, we are always on the lookout for innovative ventures that have the potential to make a real impact. This is why we are excited to announce our approval of $1000 in funding for the venture Strapt.
The Problem
In today’s fast-paced world, people are constantly on the move, and their smartphones are a crucial part of their daily lives. However, this reliance on smartphones also comes with the risk of them getting lost or stolen, causing inconvenience and potential security concerns for the owner.
The Solution
Strapt has developed a simple yet effective solution to this problem—a phone accessory that allows individuals to securely fasten their cell phones to themselves. This can be done via a chain strap that doubles as a stylish bracelet, or by clipping the strap to their belt loop or purse when in public. This ensures that the phone is always within reach and significantly reduces the risk of it getting lost or stolen.
How the Fund Will Be Utilized
The $1000 in funding from the Dingman Center for Entrepreneurship will be put to good use by Strapt. Here’s a breakdown of how they plan to allocate the funds:
1. $250 for Trademark Fee
Strapt recognizes the importance of protecting their brand and intellectual property. As such, a portion of the funding will be used to cover the costs associated with securing a trademark for their product, ensuring that they have the legal protection needed to establish and grow their brand.
2. $535 for 200 units of Iron-Metal Electroplated Curb Chain
Quality is paramount for Strapt, and they are committed to providing their customers with a product that is not only functional but also aesthetically pleasing. The funding will be used to purchase high-quality iron-metal electroplated curb chains in bulk, allowing them to lower their production costs and maintain consistency in the quality of their product.
3. $215 for Nylon Tether Tabs
Another essential component of Strapt’s product is the nylon tether tabs that provide a secure attachment point for the chain strap. This funding will allow them to purchase the necessary materials to produce these tabs, ensuring that they have a steady supply to meet the demand for their product.
The Impact
With the support of the Dingman Center for Entrepreneurship, Strapt is well-positioned to make a tangible impact in the market. By providing a practical and stylish solution to the problem of securing cell phones in public, Strapt has the potential to gain a strong foothold in the accessories industry. This funding will enable them to refine their product, expand their reach, and ultimately provide a valuable solution to a common concern for smartphone users.
Wrapping Up
In conclusion, we are thrilled to be supporting Strapt in their mission to keep cell phones secure and accessible. The innovative nature of their product and their dedication to quality make them a promising addition to the entrepreneurial landscape. We look forward to seeing the positive impact that Strapt will have on the market, and we are proud to play a role in their journey towards success. Stay tuned for more updates on the progress of this exciting venture!
Dingman Center for Entrepreneurship 