As I shared in last week’s post, I recently had dinner with Ankur Jain, founder of the Kairos Society of collegiate entrepreneurs and son of business mogul Naveen Jain, and we got to talking about young entrepreneurs and what it means to create real change. Inspired by our conversation, I’d like to introduce you to five young entrepreneurs making moves each in their own way, but with a shared passion and drive embodied by our generation.
1. Ascension Aircraft
Jamail Larkins, 25
Augusta
Jamail Larkins had his career mapped out since he first took flight at age 12. After earning a degree in aviation business administration, he channeled his love of flying into business. At age 15, he had developed Larkins Enterprises to pay for his flying lessons, selling flight books and videos to local pilots. He continues to run this company, though his larger success is now Ascension Aircraft, which is an aircraft sales and leasing company. Started in 2006, his four-person business is profitable, and despite economic hardships, he expects revenue to increase. I’m looking forward to seeing Jamail fly to new heights as he pursues his passion in air travel and business.
2. Carbon Nanoprobes
Brian Ruby, 25
Pike Malvern, PA
Brian Ruby started developing business ideas during his internship at IBM when he was 15, working in the nanotechnology division. During his time there, he was introduced to a pharmaceutical company working on an HIV vaccine. When he learned there was no way to take photos of the vaccine, he created a tip for the end of imaging equipment that allows you to capture of the smallest particles. Founded in his dorm room in 2003, it has and has since branched out with funds from various investors. Now with nine employees, his equipment is sold to universities, semiconductor firms, and material sciences companies. Awesome work, Brian!
3. IdeaPaint
John Goscha, 25, Jeff Avallon, 25 and Morgen Newman, 25
Cambridge, MA
John, Jeff and Morgen developed their design of idea paint when prices kept them from buying whiteboards for brainstorming while in college. (Side note: in the earliest stages of my own businesses, white boards were vital to our success). Their product can turn a wall into a dry-erase board for cheaper than actually buying and installing whiteboards. After some trial and energy, the three men found a lab who could manufacture their product how they had imagined it. The team is currently marketing the product towards designers and architects, so far seeing the paint used in over 6,000 locations in offices, schools and homes. They have a staff of 14, as well as 4 contracted chemists working with them. They expect to break even and become profitable in the near future. Pure genius.
4. SCVNGR
Seth Priebatsch, 20
Boston
Seth Priebatsch developed SCVNGR as a freshman at Princeton with two other ventures already under his belt. The program creates high-tech scavenger hunts meant to be played on cell phones. In 2008, it won Princeton’s TigerLaunch business plan competition. Today, it sees over 300 clients using the system for games and scavenger hunts, being popular with college campuses, museums, and cities promoting tourism. Prices range from $500 to $25,000 depending on the length and depth of the event. SCVNGR has 15 full time employees and continues to rapidly grow. Very clever.
5. VIVO Natural Products
Michael Talve, 24
New York
Michael Talve used his time as an intern for Roll International to learn all about the market for natural products, which he used to his advantage later. In 2006, he realized an opportunity for a venture with soap that was natural and as high-quality as organic food. Michael takes the time to source these ingredients from all over the world, which are then used to create his five different varieties of bar soap. VIVO products now sell at around 200 retail stores, including Whole Foods. He expects the already profitable business to bring in a rapid increase in revenue this year.
Each of these individuals has branched out into very unique markets with highly-specialized ideas. It’s an amazing time for young entrepreneurs, and I look forward to seeing what other niche products come out after taking note from these enterprising young entrepreneurs.
Pete Kistler is the founder and CEO of Brand‐Yourself.com, a web platform that businesses and individuals use to grow their online reputation and promote their services across the social web. Read more about Pete here.
