A recent survey by the brokerage TD Ameritrade showed that more than half of millennials believed they would be millionaires.
And the surest way to get there is to be an entrepreneur.
Two students from High Point University and its Entrepreneurship Center within the Earl N. Phillips School of Business may be on their way.
“My company is called 'EverSafe.' And I am working on the EverSafe bracelet and it's a walking, tracking child-safety wearable. It's a little bit of a mouthful,” Quinn Riddle said. “It locks onto the child's wrist and it's connected through cellular and Bluetooth data to a mobile application. It allows parents and guardians to track where their children are, at all times.”
Her fellow student, Jenna Tarantino, got her idea for a product when she noticed her dog was getting blistered feet from walking on hot concrete and asphalt. Her product is called the Thermo Leash and it uses an infrared thermometer to give instant readings of surface temperatures … and puts it inside your dog’s leash.
Both of these young entrepreneurs couldn’t reach their goals without not just the guidance of their HPU professors, but from the mentorship they’ll be getting from Raleigh’s RIoT Accelerator. The interesting spelling of that – RIoT – stands for Raleigh “Internet of Things” center. The internet of things is the category of things that utilize internet technology.
The RIoT Accelerator is a big deal.
“People could tell you that I was panicking when I didn't think that I was going to get in,” says Jenna. “They have patent lawyers and accountants and tech companies and software and this and that and they have helped, by far, so much.”
They have also helped Jenna focus on her target customer.
“It's sort of a lot of city people - so they're on cement all the time, they pay a lot to get their dogs walked,” she says, adding that the growing community of dog walkers is another possible customer base. “They already know the problem, they've already tried to solve the problem and at the most, they don't want to ever harm their client's dog.”
Both of these women are entrepreneurial in nature.
“Growing up,” admits Quinn, “I may not have been selling lemonade but I was rather sitting in business meetings and board meetings and learning about our family company.”
See their products in this edition of the Buckley Report.