Staples’ online store exercise in innovation

A collection of crowdfunded products introduced on Staples Web site is being billed as a “first-of-its-kind-entrepreneurial store.”

Staples conducted a contest called Crowd2Shelf and winners of the inaugural event created by Fundable debuted on Staples' new entrepreneurial store at Staples.com/fundable. The contest drew thousands of startups across the country who competed for a chance to crowdfund their way to Staples. The Crowd2Shelf Contest was also made possible by the business strategy firm Sprosty Network.

Staples characterized the initiative as a “first-of-its-kind entrepreneurial store featuring crowdfunded products,” but that’s overstating things a bit. The “store” isn’t a store at all in the physical sense but rather a page on the retailer’s Web site where it offers the collection of seven products that won the crowdfunding contest.

The debut of the online store marks the first time a retailer has used crowdfunding to determine market demand and social support in choosing products to carry, according to Staples.

"We're proud to showcase our Crowd2Shelf entrepreneurs through our new online store and help them launch their ideas," said Daniel Reilly, director of product design and innovation at Staples. "We were incredibly impressed with the caliber of startup product companies that participated and are thrilled to offer our customers these innovative new products to help them make more happen."

To prevail in the entrepreneurial endeavor, contestants demonstrated demand for their innovative products by gathering votes and crowdfunding pledges. A panel of innovation experts, including Fundable and Staples representatives, chose the winners based on votes, success of crowdfunding campaigns, and each judges' understanding of what it takes for a startup to be successful.

"We're pleased to see the winners of the Crowd2shelf contest now available on Staples.com," said Wil Schroter, CEO of Fundable. "The contest has been an incredible journey for each of these startup companies, and given each of them the opportunity of a lifetime to turn a great idea into a household name."

According to Fundable, it is the largest business crowdfunding platform with nearly $200 million in commitments and exclusively dedicated to helping businesses. Fundable is a part of the Startups.co platform, the world's largest startup launch platform with tools to help startups and entrepreneurs at any stage of their business, according to the company.