Sydney - An Australian schoolboy is thinking of skipping university and going straight into business after the runaway success of an iPhone application he developed to help people remember where they parked their cars.

“I'm not 100-percent sure what I want to do after school but probably something to do with what I am doing now,” Brandon Cowan told The Sydney Morning Herald on Wednesday.

The iParkedHere software allows smartphone users to key in the location of their car in the street or in a car park so they don't have to memorise in which tower, on which level and in which zone the car is parked.

“At the moment we're keeping the money in the company but I'll probably be saving it for a house when I'm older,” Cowan was quoted as saying.

The parking out of the way, he is now working on an application that would generate shopping lists.Sapa-dpa