Orit Meidan ’11Journal #1
It has been only three weeks since I started my summer internship at RecycleBank, and I have been learning so much every day. RecycleBank is a start-up in the green tech space that motivates people to take environmental actions. Founded by Ron Gonen ’04, RecycleBank was named a Technology Pioneer by the World Economic Forum and a Champion of the Earth by the United Nations Environmental Program. RecycleBank raised over $70M in three funding rounds.
I first learned about the company’s groundbreaking business model when Ron Gonen came to speak in my Marketing Strategy class. His genius idea tackled two problems that were responsible for keeping recycling rates low: households in the US were not recycling (separating garbage into four different types was a hassle), and municipalities considered recycling an expensive alternative to just dumping the trash in a landfill.
But, by looking carefully at the numbers, Ron realized that the municipalities did not calculate the costs of shipping all that trash to the landfills, and this new calculation made recycling the cheaper alternative. Now, how do you convince households to recycle? Ron’s idea was to encourage them by placing a tiny Radio-frequency identification (RFID) chip on a special trash bin that would hold all recyclables, which is single-stream recycling. The garbage truck would weigh the amount of recycled trash and automatically credit the member’s account with points according to that weight. The points could be later redeemed with thousands of national and local partners, from Coca-Cola (which is also an investor), to Bed Bath & Beyond, to thousands of local businesses in communities across America. Municipalities save money, households earn rewards, all while saving trees, energy, and water. A true, win-win situation!
When I saw the posting for an internship position, I immediately applied and was thrilled to get the offer. I will be spending the next seven weeks here as a product analyst intern, under the CTO. For the first time in my life, not only do I truly enjoy coming to work, I also feel that I am doing something to help the world and our environment.
Journal #2
It’s now five weeks, exactly half way through my internship, and time really flies when you are having fun. I am managing two projects in parallel, so it’s all about multi-tasking and time management. Luckily, I had an entire year of MBA classes to improve those skills.
My first project is a company-wide IT usage auditing and improvement project, directly under the CTO. I have interviewed more than 15 people so far, from analysts to general managers, in every department — operations, marketing, finance — I even spent a day in Philadelphia, where most of the operations department is headquartered. I feel very lucky to be in a position where I can ask everyone in the company for a meeting, and speak with them about practically everything related to their roles and functions. I usually start by simply asking what it is that they do.
For my second project, I will be drilling down deeper with two selected teams, helping our engineering department create new applications for them, designed for improved security and speed.
Journal #3
I only have one week left with my internship at RecycleBank. Nine weeks went by very fast and I am working long hours to make sure I get everything done on time, and tie all the loose ends. My first project is well under way for implementation and the engineering team is waiting for my final deliverables in order to start working on the new user interfaces I designed for two teams.
Although my internship is coming to an end, I will definitely stay in touch and follow through on the projects I was involved in. I met great people at RecycleBank, people that are committed to making the world a better place for our children to live in, and who really believe that this innovative business model can change the world. I feel privileged that I was able to help, in some way, this amazing company and its employees, and I am sure that RecycleBank is on the right track to becoming a household name.
