BorrowFirst

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Inspiration: Students often buy items out of short-term curiosity or seasonal need and stop using them soon after. This leads to wasted money, unused products, and unnecessary consumption. International students are especially affected due to limited budgets and storage. EcoQuest was inspired by the idea of “borrow before you buy”, encouraging shared use of resources within a trusted university community to promote sustainable habits.

What it does: BorrowFirst is a university-based peer-to-peer lending platform. Students log in using their university email and can lend, borrow, request, or donate items. Its focused heavily on university. Items are rented per day, allowing lenders to earn while items are in use. Borrowers pay a 50% deposit to ensure accountability. Lenders set rental prices between 5–20% of item value. A TrustScore system builds trust through ratings and responsible behavior. Seasonal and common-use items can be requested and shared. Exchanges happen at predefined campus locations and time slots.

How we built it: We designed BorrowFirst as a closed system first, targeting UPEI residency to create a safe and manageable environment. The MVP focuses on item listings, requests, daily rentals, deposits, scheduling, and mutual ratings. The system emphasizes simplicity, trust, and reuse rather than ownership.

Challenges we ran into: Building trust between students who don’t know each other. Reducing the risk of scams, damage, or non-returns. Encouraging students to lend personal items. Balancing affordability with fair compensation for lenders.

Accomplishments that we're proud of: A clear trust model combining deposits and TrustScore. Strong alignment with Responsible Consumption and Production (SDG 12). A practical solution tailored to real student behavior. A scalable idea that can grow beyond one campus.

What we learned: Sustainability works best when it also provides financial value. Small, closed communities are ideal for sharing economies. Trust and accountability matter more than complex features. Students are willing to share when the system feels safe and fair.

What's next for BorrowFirst: Pilot within UPEI residency. Improve TrustScore with incentives and penalties. Add dispute handling and damage protection. Collaborate with universities for official support. Expand to other campuses and small communities, building a larger shared network.