In less than 100 words, what is your idea?:
A virtual hub for geographic communities to lend and borrow consumer durables such as lawnmowers, power tools, custom kitchen appliances etc. Community tool sheds would have local chapters serving particular areas. They would provide functions for community members to lend and borrow at pre-scheduled times through an online booking system, as well as opportunities for informal chat and community interaction.
What is the social need or challenge your idea could address?:
This idea responds to two community needs. First, it is a mechanism for reducing over consumption of big ticket consumer items we all use infrequently, and making these accessible to those who might otherwise not be able to afford them. Second, it is a way of connecting geographically proximate people from different backgrounds with each other, building social capital through the interactive processes of borrowing and lending.
What’s really new about your idea?:
This idea draws on the exchange principles of LETS systems and the idea of waste minimisation through online functionality introduced by Freecycle. As far as I know, though, there is no such application specific to the basic principle of borrowing and lending.
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