14-Year-Old CEO Raises $100,000 For Vending Machine Idea

When straight a pupil rsquo Taylor Rosenthal isn&;t in college or playing base ball, he& rsquo;s active doing some thing overseas to 14- yearolds: He’s operating his own company that is successful.

Rosenthal is a freshman at Opelika High School in Alabama. A year ago, while in 8th grade, he was assigned the job of creating a business concept for an entrepreneurship course. His pitch went to win first place.

The teenager’s thought? Dispense first aid kits.

& Ldquo;Have you ever been to the earth to an amusement park and your kid falls and scrapes on their knee?” Rosenthal stated in the first pitch. & ldquo;Then, you'd to walk entirely to the entrance of the park to get a Band Aid?”

Rosenthal informed ABC News that his experience playing base ball started the thought for the device.

& ldquo;No you can discover a Bandaid when some one got damage,” he mentioned.

Since the arrival of his thought, which he created with assistance from his parents, who both work in the medical community, Rosenthal continues to be hurtling toward success. By the end of 2015, he’d created a functional prototype and was allowed a patent. RecMed, his firm, was admitted in Opelika into an system at The Roundhouse Startup Area.

In accordance with Kyle Sandler, Rosenthal& rsquo mentor at Roundhouse, the teenager was the most youthful entrepreneur in this system.

& Ldquo;we'd to kick him to spend time with his household, and you believe that each minute of autumn break he was at the Roundhouse,” Sandler advised the Opelika-Auburn Information. & ldquo;When he’s not in college or playing base ball, he’s here operating on something from client discovery to prospecting to where he can set his goods.”

In January, Rosenthal won 2nd spot in the Techstars competitors at the Consumer Electronics Show in Vegas. He can be showcased this week at TechCrunch Interrupt, a startup convention in Ny, Ny. He is apparently the youngest man ever to provide at the big event.

To day, Rosenthal h AS brought in a total of $100,000 in investments, CNN Money noted. He is also rejected a $30 million provide for his vendingmachine thought, although he couldn’ from a “big national health care business”t discuss the deal as a result of nondisclosure contract.

& Ldquo;[The firm] stated we believe the thought is worth and contacted us this, do you want to take a seat and discuss? It’s his business. He refused because he needs to get it started and see how it goes,& Rosenthal; rdquo ’s Terry, dad, informed the Opelika-Auburn Information.

RecMed vending devices inventory equally pre packaged first aid kits (which cost between $5.99 and $15.95) for conditions like sunburns, blisters, bee stings and wounds, and person supplies like Bandaids, rubber gloves and gauze pads, ranging in value from $6 to $20.

The devices, which are slated to be deployed in the autumn, are suitable for “large-visitors places for children” like carnivals, seashores and arenas, Rosenthal advised CNN Money. He Is previously obtained an order for 100 devices from Six Flags. 

& Ldquo;It continues to be amazing seeing the previous year Taylor increase over into this impressive and assured businessman,” Clarinda Jones, among Rosenthal’s instructors, informed CNN Funds. & ldquo;Even with all his achievement, he stays modest and prepared to help the others. He is only 14. Bill Gates should be worried.”

Read more: http://www.huffingtonpost.com/2016/05/11/taylor-rosenthal-first-aid-vending-machine_n_9899950.html