BYU student wins global entrepreneur award for tape
A Brigham Young University student who has developed a home-repair tape that is a hundred times stronger than duct tape was named Entrepreneurs' Organization Global Student Entrepreneur of the Year (GSEA).
Spencer Quinn, who co-founded the company FiberFix and created the super tape out of the frustration of not finding a better solution for holding broken items together, was awarded $150,000.
Quinn beat out 1,000 applicants from 37 countries with his company's idea. The special tape is moistened and applied to anything that's broken and hardens after 10 minutes. Once it is dry, the tape is waterproof, cold and heat resistant and non-toxic. Quinn's idea came from casting tape physicians use to repair broken bones.
"We started FiberFix with the idea to fill a gap in the marketplace with a compelling, unique product that meets a legitimate need," Quinn, who is still a senior at BYU, in a statement. "The market's reaction has been phenomenal and we are in more than 6,000 retail locations around the United States."
Quinn and his invention also appeared on the ABC television show "Shark Tank," where entrepreneurs pitch their ideas to investors. On the show, investor Lori Greiner offered FiberFix $120,000 for 12 percent ownership of the company.