The Top 5 Entrepreneurs Under 30

1. Alexandr Wang – AI and Machine Learning

Industry: Technology
Field: Artificial Intelligence (AI) and Machine Learning
Company: Scale AI

Achievements and Innovations:
Alexandr Wang co-founded Scale AI, a data platform that accelerates the development of AI applications. Under his leadership, Scale AI has become a cornerstone for industries relying on AI, providing high-quality labeled data to train machine learning models.

Path to Success:
Wang dropped out of MIT to focus on Scale AI, driven by his passion for AI and its potential to transform industries. His technical prowess and vision attracted significant investments, propelling the company to unicorn status.

Challenges and Overcoming Them:
One major challenge was convincing enterprises of the necessity and value of high-quality labeled data. Wang’s solution was to showcase the tangible improvements in AI model performance using their data, securing trust and contracts from major companies.

2. Melanie Perkins – Design and Publishing

Industry: Technology
Field: Graphic Design and Publishing
Company: Canva

Achievements and Innovations:
Melanie Perkins co-founded Canva, an online design and publishing tool that has democratized graphic design. Canva’s user-friendly interface allows anyone to create professional-quality graphics, making it a go-to platform for businesses and individuals alike.

Path to Success:
Perkins’ journey began with a simple idea to simplify the design process. After facing multiple rejections, she persisted, refining her pitch and product until securing seed funding. Today, Canva is valued at billions of dollars and is used by millions globally.

Challenges and Overcoming Them:
Securing initial funding was a significant hurdle. Perkins overcame this by building a strong prototype and relentlessly pitching to investors. Her persistence paid off, resulting in a successful funding round that laid the foundation for Canva’s growth.

3. Boyan Slat – Environmental Conservation

Industry: Environmental Technology
Field: Ocean Cleanup
Company: The Ocean Cleanup

Achievements and Innovations:
Boyan Slat founded The Ocean Cleanup, an organization focused on developing advanced technologies to rid the oceans of plastic. His innovative approach involves passive systems that use ocean currents to collect plastic waste efficiently.

Path to Success:
Slat’s passion for ocean conservation started as a teenager. He dropped out of university to focus on The Ocean Cleanup, securing funding through crowdfunding and attracting global attention with his ambitious vision.

Challenges and Overcoming Them:
Technical challenges and skepticism were significant obstacles. Slat addressed these by assembling a team of experts and conducting extensive research and testing to validate his concepts. His persistence and innovative solutions have led to successful deployments of cleanup systems.

4. Evan Spiegel – Social Media

Industry: Technology
Field: Social Media and Augmented Reality
Company: Snap Inc. (Snapchat)

Achievements and Innovations:
Evan Spiegel co-founded Snapchat, a multimedia messaging app known for its ephemeral content and augmented reality features. Snapchat has revolutionized how people communicate and share moments, particularly among younger demographics.

Path to Success:
Spiegel’s journey began at Stanford University, where he developed Snapchat with his co-founders. Despite early skepticism, the app’s unique features quickly gained traction, leading to rapid user growth and eventually a successful IPO.

Challenges and Overcoming Them:
Maintaining user growth and innovation in a competitive market was challenging. Spiegel focused on continuous innovation, introducing new features like Stories and Snap Map, keeping the platform relevant and engaging.

5. Mikaila Ulmer – Food and Beverage

Industry: Food and Beverage
Field: Sustainable Food Production
Company: Me & the Bees Lemonade

Achievements and Innovations:
Mikaila Ulmer founded Me & the Bees Lemonade, a company that produces honey-sweetened lemonade using sustainable practices. Her mission is to save bees, and a portion of the profits supports bee conservation.

Path to Success:
Ulmer started her business at a young age, inspired by her love for bees and lemonade. Her entrepreneurial spirit and commitment to sustainability garnered media attention and investment from prominent figures like Daymond John of Shark Tank.

Challenges and Overcoming Them:
Managing a business as a young entrepreneur was a significant challenge. Ulmer balanced school and business by building a strong support network and delegating tasks. Her dedication to her mission and adaptability helped her overcome these hurdles.

Top 10 Lessons from These Entrepreneurs

1. Persistence is Key: Every entrepreneur faced rejections and setbacks but persisted until they succeeded.
2. Innovation is Essential: Each entrepreneur introduced unique solutions that disrupted their industries.
3. Passion Drives Success: Their passion for their fields kept them motivated through challenges.
4. Embrace Risk: Taking calculated risks was crucial for their growth and innovation.
5. Leverage Technology: Utilizing technology effectively enabled them to scale their businesses.
6. Build a Strong Team: Surrounding themselves with talented individuals helped overcome technical and business challenges.
7. Stay Adaptable: Flexibility and adaptability allowed them to navigate changing markets and challenges.
8. Customer Focus: Understanding and meeting customer needs was central to their success.
9. Effective Communication: Clear communication with stakeholders, investors, and customers was vital.
10. Continuous Learning: Lifelong learning and improvement were integral to their journeys.

School or Homeschool Learning Ideas

1. Entrepreneurship Project: Students can create a mini-business plan for a product or service they’re passionate about. This project teaches planning, market research, and presentation skills.
2. Innovation Challenge: Organize a challenge where students identify a real-world problem and propose innovative solutions, fostering critical thinking and creativity.
3. Environmental Science Activity: Using Boyan Slat’s Ocean Cleanup as a case study, students can explore environmental issues and design their own small-scale cleanup projects.
4. Tech Development Workshop: Students can learn basic coding and app development, inspired by Alexandr Wang’s journey, to create simple applications or games.
5. Sustainability Project: Inspired by Mikaila Ulmer, students can develop a product or campaign that promotes sustainability and environmental conservation.

What Our Children Need to Know

1. Resilience in the Face of Failure: Children should understand that failure is a part of success and learn how to persevere through challenges, using real-world examples from the entrepreneurs.
2. The Importance of Passion: Encourage children to explore their interests deeply, as passion can drive success and fulfillment in their future careers.
3. Innovation and Creativity: Highlight the value of thinking outside the box and being creative in problem-solving, showcasing how each entrepreneur used these skills.
4. Sustainability and Social Responsibility: Teach the importance of sustainable practices and giving back to the community, inspired by Mikaila Ulmer’s mission.
5. Leveraging Technology: Explain how understanding and utilizing technology can open doors to new opportunities and innovations.

The Big Questions

1. What role does persistence play in achieving long-term goals?
2. How can technology be leveraged to solve global problems?
3. What are the benefits and challenges of starting a business at a young age?
4. How can we balance innovation with sustainability?
5. What lessons can we learn from failure and setbacks?

Conclusion

The journeys of these young entrepreneurs highlight the importance of innovation, persistence, and passion in achieving success. By learning from their experiences, we can inspire the next generation to dream big and tackle the world’s challenges with creativity and determination.