The students of the Master in International Management Giuseppe D’Auria, Anna Stella Dolcetti, Alessandro Azzolini, Andrea Vitale and Lorenzo Chieppa were ranked in the first five positions of “The Mark challenge” a luxury business competition hosted by the International University of Monaco that involved 75 teams coming from 24 Business Schools.
“The Mark” allows students with an entrepreneurial spirit to pitch a luxury or premium business idea to a professional panel of investors and community leaders. LUISS Business School students will take part in the final on April 25th introducing “ID Shield” project “which aims to reduce the problem of counterfeiting in the luxury market by exploiting the innovative blockchain technology” explains Alessandro. “It is a digital guarantee system designed to protect not only the consumer when purchasing luxury goods, but also the manufacturer and retailers, allowing them to trace and verify the goods through the entire production chain” says Stella.
“The project is part of an innovation process with a significant impact in the functioning of a developed and complex market – adds Lorenzo. – The Mark Challenge is an important opportunity in order to establish an idea which could become a standard of guarantee and authenticity.”
The idea “arises from the common will to exploit the latest technologies to provide an effective service starting from the luxury sector but that may easily find further purposes in other sectors with similar needs.” It is indeed a project “scalable in all those sectors in which an unalterable guarantee of authenticity is desirable or fundamental, as for example, in the pharmaceutical industry where traceability and guarantee involve not only economic dynamics but also and above all the protection of consumer healthcare.”
An entrepreneurial idea that combines social impact with innovation: “ID Shield provides innovation to those who have an economic and social interest – explains Andrea – aiming to weaken the criminal business of counterfeiting and the resulting labor exploitation (child labor too) which connected to this type of activity, establishing thus a positive impact on society.
ID Shield is the synthesis of an entrepreneurial spirit that looks to innovation to solve critical issues while sharing the professional background and the experience of every team member, as Giuseppe mentions: “creating an innovative startup represents the affirmation of a mindset that gained maturity from previous entrepreneurial experiences, a specific and constantly evolving technical knowledge, marketing and business development skills. It means working on a highly innovative project, that enables us to exploit the disruptive potential of IoT and combined blockchains is a strong motivational driver.”