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The next Mark Zuckerberg? Thirteen year old Californian inventor gets Intel backing for low cost Lego braille printer
If Shubham Banerjee cannot lay claim to being the world’s youngest venture capital-backed entrepreneur, he comes very close. Banerjee was 12 years old when he closed an early-stage funding round with Intel last month for his prototype for a low-cost Braille printer. Since then, the San Jose, California middle-schooler has turned 13.
After reading a fundraising flyer about the blind, Banerjee felt inspired to turn a high-tech version of Legos, the toy building blocks, into a device that could print in Braille. One day, he wants to mass-produce the printers and sell them for about $350, far less than Braille printers cost now.
This past summer, he worked on incorporating an Intel Edison chip, a processor aimed at hobbyists, into the printer. In September, Intel invited him to a conference in India to highlight uses for Edison.
There, he got a big surprise. Intel executive Mike Bell announced from the conference stage that the giant chipmaker would invest in his company, Braigo Labs. Until then, his funding consisted of the $35,000 his parents gave him. He plans to use it to build a better prototype of the printer and test it with more groups for the blind.
Banerjee says he gets mostly As and Bs as a student at the Champion School in San Jose, California. Teachers have given him time off to attend events like the conference in India and the Intel Global Capital summit this week in Huntington Beach, California. He catches up on school work on weekends, he says. While many young entrepreneurs who win venture-capital cash end up ditching their education to focus on their businesses full time, Banerjee says he won’t take that path. ‘It’s an after-school thing,’ he says.
Source: Dailymail
Match the words with the definitions.
1. flyer |
a) money provided for a new commercial enterprise |
2. venture capital |
b) to get rid of |
3. entrepreneur |
c) the organised activity of soliciting money for charitable organizations |
4. to ditch |
d) advertisement printed on a page |
5. fundraising |
e) someone who organizes a business venture and assumes the risk for it |
answers: 1-d 2-a 3-e 4-b 5-c
Vocabulary
to lay claim to |
igényt tartani |
venture capital |
kockázati tőke |
entrepreneur |
vállalkozó |
early-stage funding |
korai szakaszú finanszírozás |
low-cost |
olcsó |
fundraising |
adománygyűjtés |
flyer |
szórólap |
to mass-produce |
tömeggyártani |
to incorporate |
belefoglalni |
aimed at |
célzott |
to highlight |
kiemelni, előtérbe hozni |
to invest |
befeketetni |
to consist of |
valamiből állni |
to give time off |
elengedni valahonnan |
to catch up on |
bepótolni, behozni |
to ditch |
abbahagyni, feladni |