A schoolboy just turned down a £20million offer for his invention2,451 views
This schoolboy has come up with a genius idea and he’s not letting a £20million offer take it away from him.
Taylor Rosenthal, 14, from Alabama, came up with the idea of creating vending machines that dispense first aid kits.
He told CNN Money: ‘Every time I’d travel for a baseball tournament in Alabama, I’d notice that kids would get hurt and parents couldn’t find a band aid. I wanted to solve that.’
So he did. He launched his start-up and called it RecMed.
But before that, the 14-year-old was offered $30m (£20m) from a ‘large national healthcare company’ to buy the idea.
He turned it down, like a boss.
Instead, Taylor managed to raise £69,000 in angel investments and plans to make money by selling the machines for £3,800.
The vending machine offers customers a variety of products, from pre-packaged first aid kits ranging from £4 to £11.
You’ll also be able to find plasters, rubber gloves, anti-septic wipes and gauze pads on sale from £4 to £14.
Taylor, who has already got orders from the Six Flags theme park in the US, says he’s open to advertising on the machines as well.
He initially pitched the idea of first-aid pop ups as part of a school project but then changed it to vending machines.
A few months later, the young CEO had his own patent.
Clarinda Jones, Taylor’s Young Entrepreneurs Academy class teacher, said: ‘It has been amazing watching Taylor grow over the past year into this confident and amazing businessman.
‘Even with all of his success, he remains humble and ready to help others. He’s just 14. Bill Gates should be worried.’
News Source Metro