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Sydney, Australia – 29 November 2011. Open Shed, a peer-to-peer rental website, has been announced the winner of Nokia’s In Hindsight competition – a nationwide comp to help one up-and-coming Aussie entrepreneur get their business idea off the ground.

Founders of Open Shed, Lisa Fox and Duncan Stewart (pictured right), will receive $10,000, two of Nokia’s latest smartphones and coaching and advice from Jaimie Fuller, CEO of global sportswear clothing company SKINS.

Open Shed beat 100 other Aussie entrepreneurs to claim the top prize.

The judges including Chris Carr, managing director Nokia; Suzi Dafnis, community director of the Australian Businesswomen’s Network; and mentor Jaimie Fuller, CEO of SKINS were unanimous in their decision.  Open Shed also received a large share of public support on Nokia Australia’s Facebook page.

Nokia Australia’s MD, Chris Carr, said, “The standard of submissions was incredibly high, and all the top five finalists put forward a strong case. It was Open Shed, however, that impressed the judges the most.  Not only did they present a sound business plan, but the idea itself is unique, has the potential to be very successful and supports sustainability – which is becoming increasingly important to many Australians.”

Open Shed is a peer-to-peer rental website where Australians can rent each other’s belongings for occasional use.  Whether people want to borrow a power drill to do DIY at home, a bike for the weekend or even a travel cot for holidays, it’s all available to hire at a fraction of the cost of buying new - helping people to live more resourceful and sustainable lives.

Co-founder of Open Shed, Lisa Fox, said, “ Starting a business is never easy – you need to make the most of every opportunity, which is why we jumped at the chance to be part of Nokia’s competition.

“With Open Shed, we’re trying to shape a new consumer behaviour around collaborative consumption.  The website is just seven weeks old but growing rapidly, so to have the mentoring support of Jaimie Fuller, along with $10,000 is a major boost for us,” Fox said.

Mentor and CEO of SKINS Jaimie Fuller added, “This is a really cracking idea with huge potential. Looking back at my own journey as an entrepreneur, the advice and guidance I’ve received along the way has played a significant part in SKINS’ success today. I’m looking forward to spending time with Duncan and Lisa and supporting them on this journey.”

The competition was launched by Nokia in conjunction with In Hindsight, an online book that looks at the achievements of seven Aussie entrepreneurs. Read the full story at nokia.com.au/inhindsight.