4 of 11
BACKNEXT
Jared Garfield - Started a business
Jared Garfield - Started a business
School: University of Iowa
Major: Management information systems
Current town: Deerfield, IL
Salary: $0
Age: 23

Along with my business partner John Slump, we co-founded our own business: J&J Solutions, to sell a device that dispenses medication to cancer patients in a safer, more efficient way.

It started in a business class in fall 2006, and at first we looked at it as just a school project -- not something that would actually be viable.

We went full-force with the research to get this product going. We won about $30,000 from a bunch of business plan contests around the country. It became my full-time job; I never really had the typical student life. Anytime I wasn't doing the minimum schoolwork in order not to flunk out, I was working on J&J Solutions.

J&J is in the design and fund-raising phase, and we're planning to close some big deals in the next round. We've raised significant capital through grants, competitions, and private equity -- and we plan to raise a lot more. We just received a $150,000 grant from the Iowa Department of Economic Development to help us get the device to the production stage.

My life isn't easy, but it's been a rush. On a good night I get about 5 hours of sleep. Neither of us is getting a salary right now, but we're working to get the product to market and fully realize success.

It's funny; back in school, our teacher gave us a B-plus on the business plan and wrote "Not Viable" on the paper. I can't really blame him. At the time, I probably would have agreed.



NEXT: Kia Guarino - Unpaid internship

Last updated September 04 2009: 12:17 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
17 cool gadgets that tease the future Smart telescopes, surveillance for dogs, an electric roadster and more from CES 2018. More
These 12 airplane beds let you really sleep on a flight For the price of a premium class ticket, you may just get a space that's comfortable, private, and quiet enough to ensure a good rest. More
CES 2018 kicks off with oddball gadgets The biggest tech show of the year opened with a collection of quirky gadgets. More

Special Offer