In 2015, a company developed a sterilization device that attaches to escalator handrails. The principle is simple: as the escalator runs, the device generates its own power and emits UV light to sterilize the handrail, all without any need for additional wiring.
Despite securing patents in 19 countries, the company struggled with debt for the next five years. They couldn’t even pay their employees, who eventually all left. The company was on the brink of selling their patents to clear the debt, but decided to hold on for just one more year.
Then the COVID-19 pandemic hit.
Suddenly, news of their product spread, and inquiries started pouring in from all over Korea. The demand for their device skyrocketed, and they couldn’t keep up with the orders.
Now, even international airports and subway stations are clamoring to purchase their product.
In 2019, their annual sales were 80 million KRW (about $68,000 USD), but this year, they are expected to reach 8 billion KRW (about $6.8 million USD), a hundredfold increase. Truly remarkable growth.
The idea is genuinely brilliant.