Do you have an idea for kiosk-type business rattling around in your noggin? If so, you may want to enter the second installment of Coinstar’s “Next Big Idea” contest. The Redbox parent is offering $10,000 for the best new concept in retail-based kiosks. The submission deadline for the contest is September 30, with the winner being announced at the 2010 Customer Engagement Technology World expo in November.
From the contest website:
The winning entry will have the potential to shake up the market for their product or services by offering great value to consumers and retailers. Your idea should address a unique need, like the Coinstar coin counting machine, or solve a consumer problem, as the redbox DVD rental machines do by offering superior convenience. Your business should have a large potential market (>$1B) and have the potential to capture significant market share.
With Redbox kiosks making up a huge chunk of its revenue, its not surprising that Coinstar is looking to duplicate its success with another concept.
Are any of you going to enter this contest, Insiders? If you have a potential billion-dollar idea, would it be wise to sell it for a mere ten grand, even if it meant another company would assume the costs and risks associated with getting it off the ground?