Company logo
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Name of the submitted project or idea (in English or both English and your language)
Infinity Toy Box
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URL of a video introducing the work（under 5 minutes）
https://youtube.com/shorts/kfXyfDuZrFM?feature=share
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Detailed explanation of the submitted project or idea (in English or both English and your language)
We believe that our small business is 'big' because of the innovative and sustainable approach we offer to families in Bulgaria. As the country's first digital platform for subscription rentals of children's toys, sports equipment, books and games, we not only provide an exciting opportunity for diversity and entertainment for children but also contribute to environmentally responsible consumption.
Our mission is to give families an easy and affordable way to benefit from high-quality products without having to buy them, which not only helps their family budgeting but also supports the idea of a circular economy. By creating the possibility of renting instead of buying, we are actively reducing the pollution and waste of toys on a micro level, promoting responsibility and sustainability in consumer behaviour. By creating more durable products that can be used by multiple children instead of their single owners, we aim to reduce the volume of waste and pollution associated with the production and disposal of toys. So, our 'big' business comes from our vision of change and a positive impact on the way children have fun and consume.
A few words from the founders on how the idea was born:
'Like most families, after the birth of our children, the accumulation of clothes, books, toys and all kinds of desired and unwanted children's items began, which slowly but surely started to pile up in our home. During the COVID pandemic, when all four of us found ourselves mostly at home, we came across the idea of libraries for toys, which are popular in some places abroad, for example, Canada, where we lived. We liked the idea because it is centred on reducing consumerism, and shared ownership, and that from a young age to accustom children to circular consumption. We took this idea and came up with a way to make it digital, accessible and, hopefully, attractive to other families like us.' -
How does your work address the 3 P’s (for Planet, for People, for Profit) for Sustainability?
Our business model aligns well with the principles of sustainability and addresses the 3 P's (Planet, People, Profit) in several ways:
1. Planet:
Reducing Waste: By offering subscription rentals for children's toys, sports equipment, books, and games, we contribute to reducing waste associated with single-use products. This aligns with the principles of a circular economy, where products are reused and recycled rather than discarded after a single use.
Lowering Environmental Impact: Renting instead of buying helps to minimize the environmental impact associated with the production, packaging, and transportation of new products. This reduction in the overall lifecycle of toys and equipment supports a more sustainable approach to consumption.
2. People:
Affordability and Accessibility: Our platform provides families with an affordable and convenient way to access high-quality products. This not only supports family budgeting but also ensures that children have access to a variety of toys and equipment, promoting their development and well-being.
Promoting Responsible Consumption: By encouraging renting over buying, our platform promotes a sense of responsibility among consumers. It encourages them to think about the environmental consequences of their choices and fosters a more conscious approach to consumption.
3. Profit:
Business Viability: The subscription model can be financially beneficial for both our business and our customers. Families can save money by renting instead of buying, and our business can achieve profitability through a steady stream of subscription revenue.
Market Leadership: Being the first digital platform for subscription rentals in Bulgaria positions our business as a leader in the market. This can contribute to long-term profitability and growth, especially as sustainability becomes an increasingly important factor in consumer decision-making. -
Where (country, region, etc.) have you primarily carried out your project?
Bulgaria
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What is the timeline your project has taken place over?
2021-Present
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Keywords
#rentaltoys #circulareconomy #playgreen
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If you have a website for your submitted project or idea, please provide the URL
https://infinitytoybox.com/
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If you have a social media account for your submitted project or idea, please provide the URL
https://www.instagram.com/infinity_toy_box/
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Special Prize Question 1: Is there a mechanism in place to inherit culture and industry as assets for people living in that area 100 or even 1000 years from now?
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Special Prize Question 2: What is the positive impact on biodiversity? Is the project creating a cycle not just from a human-centered perspective but for the entire ecosystem?
The positive impact on biodiversity stems is to reducing the overall environmental footprint associated with traditional toy production and consumption. Our business indirectly supports biodiversity in the following ways:
Reduced Resource Extraction: The subscription model minimizes the demand for new toy production, consequently lowering the need for raw materials and resource extraction. This reduction in resource demand helps in preserving natural habitats that might otherwise be affected by extraction activities.
Less Pollution: Traditional manufacturing processes, including the production and disposal of toys, often contribute to pollution that can harm ecosystems. By extending the lifespan of products through rentals, the project helps decrease the pollution associated with the manufacturing and disposal of single-use items.
Lower Energy Consumption: The manufacturing of new products typically requires significant energy inputs. By promoting reuse through rentals, the project indirectly reduces the overall energy demand associated with constant production, contributing to a more sustainable use of resources and lessening the impact on ecosystems.
Waste Reduction: The project actively addresses the issue of toy waste, which, if not managed properly, can pose a threat to biodiversity. By keeping toys in circulation for longer periods, the project helps minimize the amount of non-biodegradable waste entering landfills, positively impacting local ecosystems.
Efficient Logistics for Reduced Environmental Impact: The project implements its own logistics and transport system, strategically grouping deliveries by area and scheduling them on specific days. This approach is designed to minimize fuel consumption and reduce emissions, contributing to a lower carbon footprint. By optimizing delivery routes, the project actively works towards decreasing the environmental impact associated with transportation. -
Special Prize Question 3: Are you enabling new forms of collaboration with others? New forms of collaboration might include cross-industry cooperation, co-creation with consumers, or role transformations within the supply chain.
Absolutely. Here is our approach to collaborations.
Collaboration with Consumers:
Our subscription-based model inherently fosters a collaborative relationship with consumers. Families become active participants in the circular economy by choosing to rent rather than buy, aligning their consumption habits with environmental sustainability. This consumer engagement represents a shift in the traditional buyer-seller dynamic, creating a shared commitment to responsible consumption.
Cross-Industry Cooperation:
We have partnerships with toy manufacturers, publishers, sports equipment producers, and others in the supply chain. Collaborative efforts can lead to the development of more sustainable and eco-friendly products, further advancing the shared goal of reducing environmental impact.
Logistics Optimization and Supply Chain Collaboration:
Our business approach to logistics, grouping deliveries by area and specific days to minimize fuel consumption, represents a collaborative effort within the supply chain. This optimization not only reduces environmental impact but also sets an example for other businesses in terms of sustainable logistics practices.
Co-Creation Opportunities:
The focus on a circular economy inherently involves consumers in the co-creation of a sustainable consumption model. By choosing to rent and actively participate in reducing waste, families become integral contributors to the co-creation of a more environmentally responsible system. This collaboration extends beyond a transactional relationship to a shared commitment to sustainability.
