And welcome to USPTO's 2024
Black Innovation Entrepreneurship Program. Thank you for our virtual
audience in our in person audience here in St. Louis at T
Rex. We're so happy that you decide
to spend your time with us today. I'm NaThanya Ferguson, Manager
of the Office of Innovation Outreach. My team and I support the
mission of the USPTO by developing and delivering
intentional outreach programming to support and empower under
recognized and underserved communities of innovators. So we're excit
ed to be here
today. A few housekeeping notes before
we get started for our audience online. If for any reason you get
disconnected, please simply use the link that brought you here
and you will reconnect with us. We are not taking questions from
our live audience today, but we definitely encourage you to send
us your questions and comments to innovation@uspto.gov and a
member from our team will respond to your inquiry. Last but not least, this program
is being recorded, so if for any reason tha
t you miss a rich
panel conversation, don't you worry you'll be able to access
the information on USPTO's YouTube channel. So a couple notes, because it is
Black History Month and I'm super excited at first. I got to give a happy belated
birthday to Doctor Jim West, an inventor of the electric
microphone. For example, I'm holding a
microphone now, so his technology is responsible for
90% of the microphone technology that we're using today. And so his birthday was on
February 10th. So a big happy
birthday to
Doctor Jim West and we are going to get started to this program
and we will have rich panel conversations with trusted
organizations, national organizations such as the
National Business League League to talk about the importance of
supporting the next Gen. of entrepreneurs. And we'll also hear a very
important topic, access to funding. We know that it's not easy being
a black entrepreneur and we want to make sure that we connect you
with resources that will assist you. So now I'm g
oing to hand the mic
over to our gracious host, Lynette Watson, who is the
Regional Director of Business Development Program for the
Small Business Development Center. Welcome Lynette. Thank you, Nathaniel. Well, good afternoon, right. Good afternoon. Come on. Y'all, I need a little more
energy. This is an energy day. Good afternoon. All right. Thank you all very much. First of all, I want to thank
the USPTO for allowing us to partner with them on this event. And I want to thank each of you
for
being here. On behalf of the T Rex, we are
so glad to have you see our innovation, our innovation area. A lot of innovation goes on
here. We are happy to have you today
and we, I am so excited about the program and what is about to
take place. Again, the SBDC, I'm going to
give me a shameless plug real quick. We are located on the 8th floor
for all of you that are local Missourians and in Saint Louis,
please utilize our services because we that's all we do is
help small business start, grow, sus
tain and expand. So I thank you guys for being
here and I am so, so, so excited about this programming and I
just want to throw a quick shout out to Portia Dean's who's not
here who bought this all together for us. Thank you, thank you, thank you. And I get to, I have the great
job of introducing our next speaker who is joining us from
he said all over the place. But I'm going to say from the DC
area and that is Mr. Derrick Brent, who is the Deputy
Under Secretary of Commerce for Intellectual Pr
operty and the
Director of the USPTO of the US, the United States Patent and
Trademark Office, USPTO as I like to call it. I mean what what a great
opportunity for us to have Mr. Brent, Dr. Brent with us. Is that correct, Mr. Brent with us. So thank you. He just looks like a doctor to
me. But thank you, Mr. Brent for joining us and I'm
going to turn it over to him again. Thank you all for being here. Hopefully, hopefully I won't
mess anything up up here. I'm going to use my iPad, but I
don't wan
t to thank you for that, that welcome and getting
the energy up here in the room. As she was getting the energy
up, she reminded me a bit of my of my pastor when I was growing
up and the pastor would get the energy up. So I feel like I'm like the, you
know, the assistant pastor who would come along afterwards and
just, you know, ask the question, has everyone been
served? Have anyone been overlooked but
at all? And true and truly, it is a
pleasure to be here. I want to thank Lynette again
for ho
sting us and for participating in the program. Big thank you to my friends
NaThanya and Sean. That's always so happy. These folks just do it and they
know I call on them so much. You know what is it to those who
much is given, much is, you know, much is expected. It is. There's a bit of that because
they deliver every time and they're wonderful teammates. They're colleagues. Sometimes they mess around and
call me boss and I get upset and they know that I do because
they're my colleagues and and
and teammates. I also want to thank the rest of
the team that's here. Mr. Michael Cleveland. As always, I always appreciate
seeing you, Sir. And then other members of our
team that are here got a chance to walk over with my friend
James from the Midwest Regional office. James, it's always good to see
you. James's since day one, James has
been a a a trusted advisor and and I'm happy to call him a
friend. He is helped to keep me, to
educate me, keep me focused. I wouldn't be here without him. So I
thank you and that's from
the bottom of my heart. So it's a privilege to be here. And I want to say a big thank
you to our friend and our partner here, Doctor Kenneth
Harris, for being such a profoundly important leader for
black businesses. It has been an honor to work
with over the last year. Now, I'm going to have a gentle
aside here. Doctor Harris and I, in our
youth played basketball. We didn't play basketball
together. I'm sure, actually, we probably
didn't run into each other somewhere,
but we played
basketball. And one of my favorite quotes in
life is, you know, is Earth is a task garden, heaven is a
playground. And you know, we used to, you
know, we used to play on a playground, hours and hours. But now our playground has
transitioned and folks like Doctor Harris, you know, I get
to come along for the ride, but we have transitioned from the
playground, from the blacktop to a new playground. And that is being out here
trying to inspire a new generation of of business
leaders,
of entrepreneurs, of innovators, of inventors. That's the work that we're
doing. It's a playground because it's a
pleasure. We're paying our blessings
forward. So I'm happy to be on a
different playground with you, happy to set the picks and if
you tell me to, I'll pull the trigger, OK. In a few moments, the two of us,
Doctor Harris and I, will sign a memorandum of understanding
between the USPTO and the National Business League as we
both commit to, as we both have committed to this agreement l
ast
November. But we will do the we'll do the
signing. The MOU represents a major
commitment from both of our organizations to deliver
resources, education and other vital tools to underserved
communities and to empower a new generation of innovators and
entrepreneurs. Our connection with the NBL,
that means that we are leading by example. We're reaching people where they
are. We're going to them. And that's the hard work that
Doctor Doctor Harris has done in his tenure at the as the head of
thi
s historic organization. As Doctor Harris knows, patents
and trademarks are critical to the success of new and
established enterprises. And even after 124 years of
assisting your members from the days of the founding by Booker T
Washington, NBL now has a trademark. It's US trademark registration
#7,281,512 and it was issued just a few weeks ago on January
22nd, 2024. So congratulations to NBL. NBL has chapters in all 50
States and we are proud that we are going to through through our
organizatio
n as well as our regional offices, we are going
to work with their chapters all across this country. Again, the goal of this
historic, of this historic joining of forces is to spread
the word, spread resources, spread intellectual property and
and and to help to lift up a a new generation. But we're going to where people
are. You can't just wait for people
to sit back and wait for people to come to. You already started our
partnership with NBL. Some of you may have noticed. And if you haven't, p
lease go
look. NBL has posted on its website in
the Black in Black History Month a list of very important black
innovators. It is a wonderful, wonderful
story and it's worth looking. It's worth looking at. It is impressive, is a tangible,
it's a tangible result of our relationship. But quite honestly, it is just,
it is just something where you, you look and you're proud. You get to see the history,
those that came before us, because remember we're laying
the groundwork for those that come after
us. This is. But this shows you where we came
from. And I remember when I was a kid,
my my grandmother got me a game. It was called African American
History Mystery Game. And I'll tell you what they
couldn't get me to shut up for about a month in school when I
was, I was so proud, telling, hey, did you know about this? Did you know about that? Finally, my second grade teacher
took me and she said, you know what, I was already ahead of the
class in history like I was, you know, she said I'm going
to take
you back here for about 3 weeks, let the rest of the class catch
up with you. She said, and you're going to do
a report on George Washington Carver. And it was, it was wonderful. I mean it was wonderful. I still got to participate in
other classes, but that was how excited I was. And that's what this exactly,
exactly. And that's what this project,
this, this, this this exhibition that NBL has put out and that
we're partnering with them on. That's what it has a chance to
do is to inspire
. And I hope, you know, I hope
that you that as you look at it, you will go out and talk about
these folks that were our, our, our forebears. One of those folks is from the
USPTO and we're very proud of this story and that is Henry
Edwin Baker. He was a patent examiner and a
lawyer who spent three decades compiling the first roster of
African American patent holders throughout history. It's called Baker's List. Henry Baker died in 1928 and his
list is still being used by historians today. It is
an incredible story. I believe it was caught by the
Washington Post. It was published by the
Washington Post as well as you can find it on our website. The entire story. But the the, you know, one of
the key things to remember is that the is that the USPTO at a
time when maybe it wasn't in vogue to put something like this
out, not only did the USPTO give give give Mr. Baker a chance to do this, they
also sent him to the world's the world's exhibition to actually
present on it. So it was he, he h
ad contributed
incredibly to the rich history of innovation in this country. We all know how important
intellectual property is to our country. But I think you know
intellectual property in and of itself. Everybody thinks patents,
trademarks, copyrights, but it is the fundamental part of your
business. But don't always just think of
patents at first word, United States Patent and everybody kind
of falls off after Patent. Trademark is important to young
to entrepreneurs. It is the first touch tha
t you
will have with your customers. It is the way that you define
who you are in the marketplace. It is like you're walking into
the door of the marketplace to say here's who I am. So it is important to remember
trademarks and also important to remember copyrights for those of
you in the software. We have a number of great
resources and I'm actually, I'm just going to tell you a quick
stat though. If you want to understand the
importance of lifting up underserved and underrepresented
innovators
, McKenzie did a study and roughly right now about
there's about 2.2% of all entrepreneurs in the country
those receiving funding is roughly about, it's roughly
about 2.2% or they're, they're African American or black. That's a low number that's well
below the representative number from the census data, right. And Mackenzie did a study and
they said that if you could just get the representation level up
to 12 or 13% where it is with the census, if you could just
get up there. This is irrespectiv
e of the
performance of the businesses, just having these businesses in
the ecosystem trillion dollars to the to the GDP. So we need to keep creating
businesses, we need to keep creating black businesses, we
need to find more entrepreneurs and if you need to know why,
I'll tell, I'll tell you another why. Because right now the rest of
the world competitive is is competitively trying to run the
race and catch us as a leader. So we need all hands on deck and
we need all minds and all inventions, a
ll innovators on
deck to to build the future. So that is why it is important
cast a wide net, find innovation where it is and let's grow these
business. We have a ton of resources but
right now we have a ton of resources which I'm sure you
will hear about, you'll hear about today. So I'm going to close my remarks
and betray my lawyerly training, which would tell me to just keep
speaking till somebody tells me to stop. But now it's time for us to sign
the Mou. So thank you very much for your
time
. Sorry, my. All right. Doctor. Doctor Harris. Yes, yes. Good morning. Good afternoon. It is, it is great to be here
with you, my friend. You know Doctor Harris, I think
we first time we met we did an entrepreneur's round table to
talk about the important issues of of entrepreneurs and the
person who kind of held the room you know captivated the room was
Doctor Harris. I mean tell us what tell us what
you're hearing out from the from the business community in terms
of resources needed what you k
now what types of things. What are some of the successes
though that we're that we're seeing and that's yeah. I think you you have one that
you told me about that is really the the contracts. Well, one good afternoon to
everyone. It's a pleasure to be here. And while we're celebrating
Black History Month since we signed this historic MOU, I want
to give an acknowledgement of our first Deputy Under Secretary
for the US Department, US Patent and Trademark Office, Derrick
Brent. So this is actually
Black
History celebration itself. And so we're, we're, we're,
we're very appreciative of your leadership at this time. The tremendous impact that
you've made in just a short tenure. I think it's going to be
replicable of young leaders coming up since that's today's
conversation because you can actually see it to believe it. What we're hearing on the
streets in terms of my organization, I actually have
the luxury of being the 16th National President of the
National Business League, which was fou
nded 124 years ago by the
iconic and legendary Booker T Washington. And this organization comprises
of regional offices in Detroit, Atlanta, Washington DC and Los
Angeles, CA with our now newly relocated headquarters back home
in Tuskegee, Alabama where we just opened up a new $2,000,000
facility to rebirth this organization into the future. And along with that, we just
received our first national federalized trademark in the
history of the organization because of the leadership of
you, Derrick
and Kathy and the rest of your staff to be able to
have this now historic legacy to bring back into the future. And I think they hired me one
because I kind of sit in that in between group between the elders
and also the youth, which I think is important. And and and why this is
important is because we have 120,000 members nationwide. We have chapters in all 50
States and internationally we just opened up our international
office in Cape Town, South Africa in partnership with
another Mou signing
with the Department of Commerce. So we are re establishing
ourselves as the original. And entity as the 1st and oldest
trade association in in on the globe in particular. And so this allows for us to
have boots on the ground. And what I've challenged as we
are relaunching all of our chapters into a new digital
platform, Under Secretary is now we're having our chapters led by
the next generation of entrepreneurs. And so anyone that is, is 40 and
under. I don't like the age folk
because we are a
nonprofit, we don't discriminate, we don't
categorize by age. But we put an emphasis on that
next generation to not just wait in line, but to grab the
leadership mantle and to get in and and get involved and engage
in lead in what I've asked the elders to do. Those who are of of wisdom,
those who are of a knowledge point to advise the next
generation, point out those pitfalls and in in those
different areas that you all have been through through
experience so that we can help this or this next g
eneration be
successful. Because there is no success
without succession. And that's one thing that we
have to get really good at in the black community is to
prepare the next generation not to wait in line, but to step out
front and lead. Absolutely. When you hear, you know, when
you hear those numbers of 120,000 folks, I mean for us at
the USPTO, we're like, we're like this is great and these are
folks that are all across the spectrum in terms of in terms of
where they are in their in their jou
rney and their in their
entrepreneurial journey. And we the thing that we want to
do is to provide resources. We want to provide education
support. One of the one of the
interesting things and I've talked about this I just came
from another conference and and it's something that I think is
one of the most beneficial things for all of you
entrepreneurs in the in in the audience is, is keep in mind
that you may engage with one part of the federal government. You may engage with you know the
USPTO.
You may engage with the with
with the MB DA part of the Minority Business Development
Association agency from the for it within the Department of
Commerce. But what is working now and what
I think is, is starting to make it better for for you all in
terms of engaging with us is that we're providing pathways,
we're starting to engage with each other. The government is now long no
longer working in silos. I know at the Department of
Commerce you know we call it 1 commerce. We start to, we're star
ting,
we're engaging across so that we're each talking to each other
so that when you talk to one of us, we can say, hey, oh by the
way you know, great that you're pursuing intellectual property. Have you thought about small
business, have you thought about economic development, the agency
MBDA? And by the way have you looked
at at our partners like NBL? We are. We're able to. When you lock into one right
now, you're able to engage and get further visibility into into
other areas. And I think th
at's what makes it
an exciting time because if we can continue to do that, if we
can continue to coordinate our resources, it's going to be a
force multiplier for you all. It really will. And you'll start to find that
all of a sudden you're not just picking and choosing from one
agency, you're not just hitting up. You know maybe you're hitting up
a grant from one place, but you're able to find resources
that can actually help you grow, especially in those initial
stages. I mean the way we were a
ble to
connect with NBL because we learned of their, of their work
with other parts, other parts of commerce. So that's one of the exciting
things that I, that I look forward to. Yeah, Under Secretary I, I
think, you know, this is the day and age of collaboration,
collectivism, working together. The mindset of of individual
success is no longer relevant in the black community, not just
here domestically but also abroad. And and you know, with the
significant amount of growth back to our what I b
elieve is
the source, because our story didn't start with slavery. In this connection with the
USPTO office is critical. Because when we trace our roots
back to ancient Africa, to ancient Kemet, which today is
called Egypt, which was named by the Greeks after they conquered
Kemet. You will find, although there
was an official Patent Office, all types of trademarks and
patents that, you know, our ancient ancestors are
contributed to the civilizing of humanity in the world in terms
of agriculture,
economies and entrepreneurship. And when I, you know, as a black
historian and black economist, you know, I can relate that
under Deputy Under Secretary to the fact that we see black
business growing three times the national rate to over 3.6
million black-owned firms. We know the excitement amongst
young people who if I was in my classroom today and I asked
them, what do you want to do for the rest of your life? Do you want to work for someone
or do you want to own your own business? 95% of the
students are going to
say I want to own my own rather than being owned by someone
else. And even if they work for
someone, they have that entrepreneurship mindset and
everything that we do as to where we were taught to go seek
a job. What I'm teaching and hearing
the younger generation is that they want to create jobs and and
that is the foundational emphasis that Booker T
Washington taught when he founded the National *****
Business League 124 years ago with self-sufficiency, self
innovation,
manifesting your entrepreneurial ideas, bringing
it into reality. And I am not surprised that out
of the 3.6 million black-owned businesses, black women are the
fastest growing segment of entrepreneurs in the country,
regardless of race, creed, color, sexual orientation or
gender. So give black women a round of
applause. Because Deputy Under Secretary,
you know, women are more than just glorified secretaries. If we trace their roots back to
ancient African tradition, Black tradition, you'll find
that even
when foreigners came into Africa, the first business
people that they met were black women. And so we're going back to the
source. And it's so critical that this
innovativeness that's in place, it is now officially connected
to the organization that can bring them resources and
connectivity in a collaborative way. And I think this partnership is
going to achieve some great results. I know it will. I know it will. Looking at the time do we need,
is it time to move on to the panel? OK,
we're going to take a
second. We're going to move on to the
panel discussion. Thank you, Deputy Director Fred
and Doctor Ken Harris. So we just heard a lot of
insightful remarks from these two amazing gentlemen. So now we're going to get ready
for the next panel where we're going to talk about the
importance of building collaborations with national
organizations such as NBL to empower the next Gen. of innovators. So as we are transitioning, I
want to invite Christy Jackson to the stage Director
of the
Center for Innovation and Entrepreneurship at Haristo
State University and also Ariel CEO, Young Biz Kids. So come on up, Ariel. And last midnight definitely
leaves Jay Montez Cameron, another Harris Stowe State
University students. So please come up to the state. All right. Well, this, this is impressive
right here. And and I'm smiling because I
know I'm going to walk out of here inspired and and full of
energy from what you're bringing. So thank you very much. We're going to start with
introductions that you you met Doctor Harris and I Ariel Bivens
Briggs. So I'm the So I Ariel Biggs and
I'm the founder of Young Biz Kids and YBK Day, which is an
organization that empowers youth age 8 to 21 to start a business,
learn financial literacy and also build generational wealth
through the process. Jay Montez Yes, I'm a sophomore
at Harristown State University majoring in business
administration with a focus on entrepreneurship. I'm developing my own business
called OV Customs. It is c
ustom shoes that can be
made with fabric and things of that nature. We could talk more about that
later if you would like. And I'm also a thriving
ambassador if you've heard of thriving the Fortune 500
company, they are partnering with hair stove and we're
throwing an event in our Emerson gym on 314 days. So I've been helping playing
with that. Now I'm going to I'm going to
come back to you for for a a quick question because what I'm
intrigued by is I've is one of the things that I'm not the onl
y
one that believes this. James and I we went out to we
went out to Minnesota we had a we we talked to a bunch of young
students young young inventors you have to entrepreneurship has
to be brought to folks as an opportunity earlier and earlier
and to see someone who is who's in school and is is becoming an
entrepreneur on this. I I mean that is that's where we
need to be and you're going to inspire people younger than you
so that we can start growing, we can start growing even younger
and bette
r. But I'm going to come back to
you because I want to ask you, how did you get it? How did you get into it? So, Christy, so good afternoon,
everyone and thank you so much for the opportunity to
participate in this panel and talk about our work at the
center of innovation and entrepreneurship at the only
HBCU in Saint Louis, which is Harristown State University. But in listening to all of the
resources, you know, I will say that I am a product of all of
the benefit of all of these resources. My
husband and I have been
entrepreneurs for 20 years in this ecosystem and we developed
through our entrepreneurial journey asking questions,
identifying gaps, not having access to resources. And as we began asking
questions, where are the resources? How do we get connected to this? We got invited to more and more
tables, and so we acquired more partnerships and relationships
and opportunities. And as we learned information,
we happily shared those with those in our community and in
our network, w
hich led me to this opportunity to serve as the
Executive Director of the Center of Innovation and
Entrepreneurship. And here is so. And there we offer various
entrepreneurial programs, a meeting our community of
scholars, community members, staff members where they are. We offer business accelerator
programs, we offer access to capital. We offer programs for nonprofits
as well. That is still a business. And so it has just been a
beautiful, we are a startup as well. We started in, you know, 2020
and as we are supporting businesses that are developing,
we are growing and we're learning right alongside them. And so it's been a beautiful
journey, but proud to say that today we have graduated 150
entrepreneurs from our business accelerators and that is that. Thank you so much. That includes those that are
participating in our ten week programs. We have our youth ambassador
programs, but we also have a virtual community and we have
600 entrepreneurs from across the nation that are tapping i
nto
our resources and setting up time to meet with our business
mentors. So we are truly about building a
strong community. Listen that's you know like 20
years. That is Doctor Harris you
remember from our round table when you talk to when you talk
to entrepreneurs it's about perseverance. And I yeah, I see heads nodding
up here it's about perseverance and to be you know but the other
thing that you that that you discussed and I still remember
this distinctly the the one young woman from Syracus
e who
was working with the shoes and she was actually in Manhattan
but but but is that you ask questions. Like you just kept asking
questions as you went along the journey and that is part of
perseverance is making sure you're asking questions get that
knowledge figure out a way because no one's going no one's
going to figure this out on their own or alone. You're not siloed. So thanks to you. Thanks to you. Now Ariel, you were you were a
student in the in the Business accelerator program and Ja
y
Montez, this is for both of you, because I'd love we'd love to
hear about your journey to entrepreneurship. How did you what did you see
that inspired you? How did you come to to to
entrepreneurship. So I came to entrepreneurship
through my 7 year old son. He wanted to start a vending
machine business. I told him no because he was 7. But then after about 3 months he
did his business plan. He came back with us, told us
where he was getting the funding from and he started the
business. So if you
Google Now youngest
vending machine owner in the United States. That's my son and he look up
Floyd, that is yeah. But but training him in
entrepreneurship, other families from around the United States
started to reach out and asked me how are you doing this with
him. And then I started with six
kids, then it was 25 kids, then it was 150 kids. Now currently we serve 300 kids
across 8 states. And can you tell us a little how
the Business Accelerator program helped you? Yes. So it helped me to see
that it
was not just my household that I really needed to do a business
model to look at everything that we can offer, everything we had
accomplished, and what we can put in the blueprint to show to
other kids and their families on how to build generational wealth
and pass down the knowledge at the same time. So that's what it helped me to
put it all in order and say that you're not just a mom, you are a
business owner that's going to do something to impact the rest
of the world. Jay Montez, ho
w about yourself
and what inspired you to brought you to entrepreneurship? Honestly, when I was growing up,
a lot of my family always told me that I had a good business
mind. I handle money well and things
of that nature. When I've turned 16 and I got my
first job, I was like not going to do this for the next 40
years, honestly. So it kind of, it kind of
started there and I was just picking my brain, trying to be
creative and just do things. And when I got to college, I had
too much time on my h
ands and not enough money in my pockets. So I was just trying the next
thing and one day just shoe customize. It came up, I believe on my
Instagram page and I just tried it out. It came out pretty well for my
first time. I ended up liking it and I stuck
with it and hopefully it takes me 4. Doctor, Doctor Harris, you know
we just, we just signed, you know we just signed a historic
MOU and we talked, we talked a little bit about collaborations
and how important they are. Can you share with us some
of
the other some of the other collaborations that NBL has
engaged with that have been very productive and that are you feel
are moving the ball forward. Yeah as as I mentioned deputy
Under Secretary is that this generation is going to require
collectivism it's going to require us working together. I always say teams when the
individual mindset is is a wrap and and things that we have been
intentional about with Booker T Washington's legacy. In 2022 we launched the first
ever National Alliance
for Black Business and we partnered with
the National Black Chamber of Commerce which was founded in
1993 as the 1st and oldest national black chamber in the
country. We also partnered with the World
Conference of Mayors, which are all of the black mayors not just
here in the United States, but across the entire globe, so that
we had culture, race, politics and economics as a center to now
our alliance has grown to over 50 national organizations that
we will be unveiling soon. So we we are enthu
siastically
about removing the ego so that we can do the work of our
ancestors. Because we can't take any of
this with us. We have to lay the foundation
and the bricks and like our ancestors did for us to be able
to have this podium and to have the first deputy Under Secretary
of the USPTO office in place. We have to do the things now so
that our hundred year plan manifest itself into an economic
freedom movement for black people all across the globe. And that's going to be through
collaboration
and another successful collaboration. In short, we just announced for
the first time in history we partnered during the pandemic
with the economic shutdowns with the George Floyd racial unrest
that sparked a equity push for black businesses across the
country. And we partnered with
Stellantis, General Motors, Ford Motor Company, Toyota and
several other Fortune 500, Fortune 50, Fortune Five
companies and we came together to form the first ever national
black supplier development program, keywor
d development. As we saw that one, we were
losing national black suppliers. We didn't have black suppliers
of scale competing for procurement and contracting
opportunities. And we're happy to announce that
we started a cohort three years ago. We just finished our third one
and we achieved for the first time in history $100 million in
contracts to black business owners through that type of
collaboration. So as as you would allude to,
we're more than talk, we're more than press conferences and
pla
titudes with no intentional measurement. And today, it's about not
talking about what you're going to do, but talking about what
you have done already. So we are shifting to an
entirely new mindset and it's through those collaborations
that we are forging this major successful economic movement,
not just here in America, but throughout the globe, doing
work, doing the work, doing the work, going the work and getting
the receipts. Exactly, exactly. Christy, why don't you tell us a
little bit more
about the about the HSSU business accelerator
program. I mean Ariel gave you a great a
great advertisement right there. But I am tell but I want to hear
more about this and and and I wanted to hear about it
jealously because I want to be able to talk about it to other
people because of its success. Well, we would love for you to
do that. It is an extension of the
Anheuser Busch School of Business. And you know, what we have
discovered is that there are so many ecosystem resources that
are avail
able. We are just a small chunk of the
ecosystem that is providing the support through Harristown State
University. But we're doing it differently
because we can also add the layer of education. There are lots of resources that
are available and we can say go to the SBA and fill out the form
and we can say, you know, go to legal services and you know,
request the services that you need. But there are times that people
need you to kind of hold their hand, help to vet some of these
resources, for
them to walk alongside them. And that is what we do
differently. We are listening to the needs in
which our entrepreneurs have. We've learned that cohort models
are the best because they can continue to grow and thrive in
community. We're listening to where the
gaps are. Ariel didn't mention that she
actually has a trademark, but that was a result of a workshop
that we offered. I also have one too. I'm excited, but my trademark
came from Legal Services of Missouri. You know, when I was an
entrep
reneur and so we offered workshops around trademarks. We had an attorney come in and
talk to us about it. And not only do we have say come
in and talk to us about the resources we require, the follow
up where you get online with our business owners and walk them
through the application. And so that's how she got her
trademark. And so you know it. It is a beautiful thing. You know, black folks are
already innovative. You know, we are already
scrappy. We already get it done. And I love what you sa
id about
black women in business because it is absolutely true. But sometimes you need the right
words. Sometimes you don't realize. You know, I have always been an
innovator, an idea person, a maker, but I didn't know that I
was a designer. I didn't know that I was a
product developer until I got that language. And so we offer those
experiences to our business owners, but not only do we do
that locally, we also take entrepreneurs globally. We have a global ventures
program and we take our schol
ars and our entrepreneurs. We've been to Paris, we've been
to Ghana. We just went to London. And we take them to learn about
various cultures for exposure, but also connect them directly
with black business owners across the globe to help them
expand their business. And as we're doing that, they're
building those relationships, but they're also learning about
trade at an early stage. And so you can kind of build
with those things in mind. So we're doing things a little
differently, meeting our b
usiness owners where they are
creating that safe space and community. Our business accelerator
launches March 18th. We come and see me after this
panel to access our startup tree information where you can apply
for any of our programs. And I forgot to mention, they
are free. There's there's no barriers. Our programs are free and we
also have an 18 credit hour entrepreneurship certificate. And so once you finish the
accelerator programs, many go on to get their certificate in
entrepreneurship and
we hope they continue on to get a
business degree. I jokingly tell the story buddy
of mine Want to bet with me and basketball or football practice
something and we went to eat afterwards so I had to buy him a
burger and I looked over at him and said how'd that burger
taste? He said three can't taste no
better. Listen one I really want to draw
1.1 point out of this and then I'll make it. I want to make a time check make
sure we're OK. But one one point that you hit
on that is so important is the
force multiplication of bringing
of the collaborations. You know, we've all been
talking, you've heard that keep talking, you know, we keep
hitting on that. Collaborations are force
multipliers. They really get things done and
look at, you know, look at how it's it's helping your program. You're not just learning, just
learning, you know, you're not just learning how how to build a
business, You're learning a whole wide range how to fund
your business. You learn a little, you learn
about intell
ectual property, you learn about these things. We have one of our pro bono law
clinics, one of our free legal service law clinics. It's in a law school where they
took it and they now house it inside of their school of
entrepreneurship. So now when you walk in the door
and say, hey, I have an idea I might want to, I want to try to
get a patent on this. They they say, OK, but we're
going to tell we're going to teach you to build a business. Part of it is they give you a
stipend to go ahead and do
markets, market market surveys,
so that you can figure out your customer base so that your
invention is getting to the market that it needs. And when you walk out the door
with a patent, you're also walking out of the door with a
business. So it's programs like this where
you're putting together multiple resources that are a powerful,
powerful tool for for you as intra entrepreneurs. I'm so glad you mentioned that. And I just wanted to also add
that piece of investing in our businesses. Often t
imes our graduates really
become our vendors as well. And so we have them as priority. And so Ariel does a a market for
her youth entrepreneurs, her young biz kids market and she
holds that at Harris Stowe. And so we are now partners in
that endeavor. And so it is actually a full
circle investment. They're learning, but we're also
turning around and investing in them as vendors. It's a proud thing to give back,
isn't it, Harry? Yes it is. How are we doing today? OK. We just got to give this a st
eam
panel of just quite leave the mics with people, I mean on the
chair please Afternoon. So before we move on to our next
panel, we learned a lot from that conversation, a lot of
insight, the importance of making sure that people not only
obtain IP protection but also we're supportive throughout the
innovation and entrepreneur ecosystems. A lot of times as Christy
mentioned, we are innovators by nature. We identify problems in our
community and we come up with solutions to such problems. So it'
s very important to
realize that. And I wanted to share a slide
and maybe it's not showing, but we have a tool at the USPTO,
it's called the IP identifier tool because so many times you
have intellectual property and you don't even realize what type
of intellectual property that you have. So through this tool take you
about 5 minutes. It's such a valuable investment. It's going to ask you a few
questions and then it's going to explain to you what type of
intellectual property that you have. Not
only that is going to
connect you to valuable free resources at the USPTO that can
help you throughout your journey to obtain the intellectual
property that is right for you. So I know we're on time. I think this is just a reminder
we got to have more time for these insightful programs in the
future. But now it's my pleasure to
introduce Acting Regional Director James Wilson of our
Elijah J McCoy Regional Office to the stage. And we're going to have an
insightful panel discussion about inspirati
on to innovation. Thank you, Jane. Good afternoon, Good afternoon,
Good afternoon, everybody. It's good to see everybody. Yeah. When I get a mic, I'm that guy. I'm that guy with a mic. Yes, indeed. We I want this to be engaging. I wanted to be insightful and I
want everybody to relax, take a couple of deep breaths, and I'm
going to call my panel members up, some of who I have, some of
whom I have met before and I have worked with before. It's it's it's a trip. Let me let me share a little
bit. I
was here a year ago in this
very same room and engaging with individuals who were concerned
with and interested in small business interests, intellectual
property and and entrepreneurship and innovation. And to have an opportunity to
come back and to be in this fabulous city with this good BBQ
is a good thing. It's a really good thing. Bear with me for a quick second
while I pull up the individuals in my panel. Terrance Wheeler, come on up. Be strong. Come on up. That's Byron Strong and Mr. Mar
vin. Eugene Thomas, it would be my
pleasure if you would come on up. So to start out, I said a little
bit about myself. I'd like for each one of you to
give me that elevator pitch description of who you are and
what your relationship is to intellectual property. What is it that you do? Why are you here? Why are you on this panel? Why do you think that we asked
you to be on this panel? And I'm not going to call on you
individually. Y'all grown-ups. I'm going to let you go and I'm
going to let you
. I'm going to let you decide
who's going to go first. Well, I go first. I guess I'll go first. My name is Byron Strong. I am a Air Force veteran and
thank you for your service. Thank you, thank you. And after coming back from
serving sort of started in, in the insurance business. And I'm working as an investment
advisor and and have a practice but start to have different
where I've seen other needs where people normally I'm
helping people with their portfolios and people that have
funds have mo
ney, but have started see where there was a
need for people that didn't have anything. And sometimes you're driving by
people that don't have anything. And we've developed or
developing a platform that advertises for restaurants and
lets you share on that platform with people that are unhoused. OK. All right. Well, thank you for that,
Terrence. Good morning everybody. My name is Terence Wheeler, I'm
from Columbia, MD. And as far as how I got started,
I have a a real, real crazy story. I was sell
ing juice and snack
Baggies in college and it was called, it's called Liddy Juice. To come kind of kind of really
stumbled on to entrepreneurship was something I was doing as a
hobby but took the really the the the Hampton Roads at 757
area by storm at the time I went to Hampton University. I called it Liddy Juice blew up
in that area. And then I decided to
professionalize that concept. One person had walked in one day
while I was selling this juice and asked me, man, you're going
to, you're goi
ng to start lick coming or something one day and
kind of just rewired my whole trajectory of my brain and I
decided to professionalize this concept. And I created Lumiere talking
about five years of development and the whole, the whole point
of creating the brand was I wanted to give vodka specific
aroma and taste and character to it. And also without compromising
health conscious benefits of, you know, it being low in
calories and something that does not make you feel terrible the
next, the nex
t morning. And I was able to accomplish
that. We did very well, extremely
well. And our first year on market, we
did 150 locations and about 6-6 figures and sales for our first
year. So we did really well. And I'm here because I have
intellectual property too. I own 2 trademarks. Fantastic, fantastic, Mr. Thomas. Good afternoon, everybody. My name is Marvin Thomas. I'm a service connected to say
with veteran in front of Marine Corps. I own BFT products. I am a inventor. I invent different produc
ts. What I do, I create new and
improve existing products. Right now I'm proud of one of my
products, which is a hands free leveler which has caught the
attention of a lot of different companies. I started inventing products
since I was 8 years old. I was 8 years old, but I was
also a baseball fanatic. And you know, I thought I was
going to swear baseball, but I still had that academic skills
in my head where I can come back and fall back on that even after
the injuries that I have experienced t
hrough my lifetime. And this is what I enjoy doing,
inventing things. Thank you so much. Thank you. So ladies and gentlemen, we have
patents and we have trademarks represented here on this panel. And I'd like for you gentlemen
to share with us how you moved in the space to arrive at making
the decision. I'm not sure whether or not you
use the tool that Natanya just referenced to find out what type
of IP. And sometimes you find out when
you use that tool that they're multiple types of IP that you
could use to protect your creations of your mind or your
innovations. And so gentlemen share with us
how you arrived at or who who spoke to you or talked to you or
how did you get to the patenting place and the trademark place. We'll start with you Byron. Yeah well today's special is the
name of our company and we were really playing off of the the
term that when you go to a restaurant you're trying to find
out what's your today's special. And but we wanted it to be a
sharing platform and so we
utilized the the word 2 and as
days and it was something for me and something that I could
share. But we wanted to be able to sort
of own that and coin that phrase. And so we we actually was
invited to a event that was at Harris Stone where we got an
opportunity to talk to an attorney that did trademarks and
patents. And and there is where we kind
of got on that road and found out that there was a whole lot
more than what we thought and we would actually we we needed that
professional help to k
ind of get that part started. We also had the slogan to find
deals, share meals, which we found out, well, that she was
asking the question, well, do you want close together? You wanted a part. We kind of had to figure out how
to make all that work together. But actually the help from that
that attorney was was a big, a big, a big, a big a big deal. Thank you so much for that
answer, Tom. Mr. Thomas. Yes. I started out first was start
out with the poor man patent. And the poor man patent is when
you develop something and you mail it to yourself and you do
not open up that envelope that's called the poor man patent. But as time went on, I got
connected with a patent attorney and which was really good and
being done with some disabled veterans. So it cost me half price to get
my patents you know filed. And another thing I did was I
did patent search first. If you going to file a patent,
first thing you do do a patent search first on your own and
then if you did it then you have your lawy
er to do a patent
search also. Then you collaborate with each
other. And ever since I've been
connected with this guy I've been patting things every year
just about I got like about 8 patents right now. Congratulations and I just
received one that I'm really proud of and that's the hands
free leveling and that's catching the eye all the
construction world. So there are people in this
audience right now with whom I have engaged in other cities,
who are glad to be in the room to hear how you are g
oing about
and what you've done on your IP journey. I'm from Portsmouth. I don't tell a whole lot of
people that this man went to Hampton University. Are you from, are you from that
area? No, I'm from Columbia, MD. You're from Columbia, MD. I went to Howard. OK. The world is small. The world is very small. So your your trademark, you said
somebody came in one day and said something to you and it
sparked some interest and it was just through conversation. How did you decide that you
needed to pro
tect your brand, exactly what you have that is
yours. So I like to put everything in
the form of a story because I think it's very important to
really tell exactly how things came about And then our stories
are very valuable. I always thought my idea your
well your ideas in general are very valuable and it's it's it's
important that you protect them because that's that's your
creative property and you have to be able to protect it. And I remember the first time I
got the idea to even go to an in
tellectual property attorney. I scheduled a meeting. I went in his office and I sat
down and I was like, man, man, what do you, you know, what do
you think about this at this time? It was just a mock up. I was showing him, you know,
what the bottle design was going to look like. I hadn't launched the product
yet. Tell him about the concept and I
sat down with him and I told him everything and he just got real
quiet and he's typing, typing on his computer. He's like he said what's the
point of th
is? It doesn't have any value. He said you're not on the
market. No one knows what this is and
you'll probably change it and do whatever in the next few years
with anyway. And I just I all all the air had
left my body rattled your cave and all the yeah, all the air
had left my body and I didn't. But I'm the type of person where
that that really charged me up. I've it's just a certain piece
to me. It really charged me up and I
ended up doing it myself. You fought. You fought for your trademark on
your own. I did it myself. I did it myself. So let me let me let me share
with everyone that we recommend that you get an attorney to
assist you. But if you are serious, and if
you dig your heels in and you learn and you understand the
concepts of what it takes in order to do it yourself, it is
possible for you to get a patent, filing it yourself to
receive a trademark. Following it yourself. Congratulations, young man. Thank you. Thank you. Congratulations. Sometimes others don't see the
value
in what we value and it requires that we step out and
take care of what it is that we need to in order for us to
achieve our goals. What advice would you give a new
entrepreneur or a new innovator who is looking to break into the
industry? What would you, what would you
say to someone who is looking to be an innovator and to have
intellectual property and to be a business person such as
yourself? What does it take? What is it going to take? What it takes is if you believe
in yourself, do it on
your own, no matter what. Nobody say. They say no, you say, yeah,
that's what I always done. Because believe me, that's the
journey I went through. I had people say, oh, that is
not going to work. Oh, that ain't going to work. And next thing you know, I got 8
patents. Now I ain't think about what
they talking about. You know, believe in yourself,
get all the help you can get. But believe in yourself, you
hear all you say less and be your own judge. Were there any resources that
you use? You say
you did it on your own,
but I know that you had to read, you had to do some research. Were there any any tools or any
things that you would share with our audience? It all depends what you are
developing. First of all. Now I like I said, I'm an
inventor, so I have to have things produced or or developed. It cost me some money. I'm I'm broke now I'm just
telling like it is but I know I have valuable I PS. I know I have very valuable. I PS it just takes the right
person to come on with you and hel
p you get along And and I
never stopped I just kept pushing and pushing and pushing
I'm motivated was about to tell me no that's you you can tell me
no. 100 times I say yeah and I'm
going to keep going. Even family will tell you no. Just and that is real talk
depend on yourself much as you can and try to get much help as
you can. Don't turn it away. If you get some help. Don't turn it away. Don't turn it away regardless
whatever they tell you. You know. But I'm sorry. Yeah go right ahead. I thin
k it sort of becomes like
if anybody has children, it almost becomes like your child. It it becomes a part of you,
your business, your brand, how it's viewed by others, all that. It becomes a part of you. And it's sort of like you're
raising this baby and you know you you're very protective
about, you know who says whatever about it. And you want it to be where, you
know, you know where your parents if anybody grew up in,
you know in a black in a black home. You know your parents were
always lik
e, you know when you going out you representing us
you know what I mean And you know so you're not going to go
out and embarrass me you know. So it's it was something that
you putting out there and you don't you want to be something
that's representing you and sort of sort of mine came from my own
experience. I'm a I'm a musician as well And
so the name actually came from my son who called me and said,
dad can you order us some pizza. I was on my way to another
meeting and I was like pizza from
where, man we I got to get
to this meeting. I'm. I'm in a hurry. He says, I don't know, Dad Pizza
Pizza, who's got specials. And so I pulled over to the side
of the road. I'm thumbing through menu after
menu, like why aren't all the specials in one place? And that's where the name Two
Days Special came from. But but Fast forward I was, I'm
a musician and I was, I was playing at this service and I
left the service. It was Sunday, Sunday morning. I had to be at another service
that I was in a hurr
y to get to. And I got in the car and I hear
this voice that says you do this every Sunday, you're just going
to get to that service. Are you going to tune up the
Oregon? Everybody's going to get
excited. If anybody familiar with the
black church experience, you're going to get excited. Everybody's going to get excited
about what they should do and then get in their nice cars and
then leave and then come back again next Sunday and get
excited about what they should do. How much is that moving th
e
needle. And if anybody, like I was
saying and familiar with the the black church experience,
everybody gets happy, everybody gets excited, everybody. You might cry. I mean, you get happy enough,
you might even fall out. But but a lot of times you don't
get a chance to translate that into whatever you have learned
or whatever you've heard. And so that particular Sunday, I
actually didn't go to that service. I detoured. I went to the dollar store and I
bought up these 3 bags of variety chips. Th
en I went down off of Tucker,
pulled into the McDonald's. I bought 30 to 40 cheeseburgers. Then I was pulling in behind
buildings where people were literally in in dumpsters
looking for food. It was totally improv. I had never done it before, but
I I got out of my car. I I said, you know, I have
cheeseburgers. I have chips and people were
coming up to me and saying God bless you Sir, thank you so
much. Then from, you know, from I was
from building to building doing that and and then I realized
t
hat I had missed this service. I've been out there for so long
and I was in tears. But then I heard the same voice
say, no, Byron, actually this time you were actually in
service. I did the same thing the
following Sunday, three actually that second that Sunday after
that COVID hit and I got a call that morning that there was no
service. I continued to do that and that
was March of 2020. We still do that on Sundays. And so this has developed out of
that. And so it's become, if you going
to do th
is, you want it to be something too personal because
it's going to get rough and it's going to be times that you say,
well, why am I doing this? And you got to be able to go
back to an experience that you've had to say this is the
reason why I'm doing this. This is why this is valuable to
me. All right. All right. So this young man has had dogged
determination and he has turned over 6 figure profits. So you put money into IT, people
invested in it. How did you fund what your
business? When I Whe
n I first started, I
bootstrapped I I bootstrapped about $66,000 to start Lumiere. What do you mean bootstraps? Bootstrapped, Meaning I saved
all my money. Oh, I saved all my coins. It was mine. It was mine. I had to use you. Have you got you got to have
some skin in the game when you first start. You can't expect to get in front
of somebody and talk about them putting dollars into your idea. If you're not putting your own
resources, you're not putting your own blood, sweat and tears
into what y
ou are speaking life into. And I I remember when I post
post grad, I really didn't have that many resources, especially
for starting a business. I mean, you don't have any money
and it's really hard to get a good job when you when you first
get out of school too, even even with a degree, the way the
market is set up. So I I was Ubering at one point
and I was, I mean, I was still at my parents' house at the
time. But I took all my coins. I took, I took the money from
Ubering and also from my day
job and I saved it. I saved it and I took that money
and I kept pitching. I kept pitching. I kept pitching and kept talking
about my idea. And then I pitched about 150
times over about five years. And I know because I counted and
I counted. I got in front of 150 people I
heard 150 knows and on 151st try I got a yes and I and I went
through. I went through the bank and I
also went through Angel investors and I I got in front
of people I kept. I kept getting passed through
networks and networks an
d networks and even if someone
said no, just because I might have been, that might have been
just me being in front of the wrong person, the wrong
investor. I was looking for a very
specific investor for what I was doing. Alcoholic beverages is it's it's
a kind of a weird niche. And I had. I understood that I had to come
up. I had to come up with this
really sick psychological construct in my head of of
hearing no. I had to get obsessed with
hearing no until I got in front of the right people to
say yes
to me. And when I finally got my yes, I
never looked back because I already knew once I got that
yes, what I was going to do with that. Yes. And I I made it. I made it happen in my first
year. So. So hearing you say that most
people have a strategy that they employ and that they go through
each one of you sound as though your journey started very
personally. You know it, it's it started
very personally on this. On this journey, you've had a
lot of challenges and you've had a lot of obst
acles. What what would you attribute to
yourself that has given you the opportunity and the fortitude to
overcome the obstacles that you faced You might have to repeat
that one. What kept you going what kept
you going? Well for for me when because
this is this is a tech space for me and I I didn't I didn't come
from a tech space but I would when leaving the office and I'm
still you know we're graduating from bootstrap mode too So hats
off the people that bootstrap this because that's that's it's
it's difficult to do that but going and continue to see the
need I leave sometimes I leave the office and I I not know what
my next step was but then I knew the need that I was trying to
serve and so going and still having those conversations with
people that were on house people that were on the streets. And I continue to say there has
to be someone that has a voice for them. There has to be someone that is
taking this seriously And so and this isn't just what I
considered like a you know like
you would do a drive by and a
lot of times you drive by and and you see a person there
you've already determined the situation almost as a person you
see that does a drive by on the street or a gang member that
does a drive by they might would have done a made a different
decision have they seen the seven-year old on the swing
behind them or maybe seeing the 9 year old on the merry go round
and it. And so I was taking time to
spend time talking to people and seeing continue to see the need
to s
ay, oh, there's I've got to keep pushing. I've got to work harder to make
this happen and you just figure it out as you go along. OK Mr. Thomas. Yeah. What I've done was I do in
person presentations and my target is, is technical
colleges, technical high schools. And when I do these
presentations and first thing they said can I get one. So that what that does, it
motivates me more because I know there there's a need for what I
develop. So that's what inspires me
because I know I have something a
nd these people keep inspired. Hey, I need one of when you
going to have it ready you know. So that's that's my motivation. OK. The need and the desire. Exactly. For for me, I think it's, I
think it's two things. I think I'm just wired up a
certain way. I think it goes back to just the
way I was raised. I remember I went to go find a
store. When I go find a store, I went
to go talk to a store that was near my my mother's house. And I went up there and I was
just, you know, I was just raised in a
very structured way
and it was just about figuring it out. It's about making something
happen. And I remember I had came in
there and I told my mother, hey, yeah, this this guy was just
disrespectful to me. He didn't. He didn't. He didn't let me talk to him. And I drove all the way up here. She lived about an hour away
from me. And she was like, you. You leave my house and you go
back in there and you talk to that man. And that's just how everything
was structured. That's how I am. It's just ab
out finding a way to
make things happen. And then two, I think I just
carried a spirit of success. I think that if when I, even
though there's there's also a spirit of defeat, that always
comes after me when when things aren't going right or when I
can't figure things out. I always remain that spirit of
success. And I know after after I'm done
with it, how I'm going to feel and how I'm going to be able to
impact other people. And so I think that I think that
that level of a spirit in me is what
kept me going is what kept
feeling me. And you know it's it's not, it's
something that just wakes you up every day. Internal drive, internal drive. Can I, can I say this, I think
you also have to be able to envision the end product even
when it's not finished. You got to have in your mind of
how this will look when it's completed. So what does, so you say that. So my question to you is when do
you know that you have been successful? When, when it when do you check
the box to say I've done what I
need to do to be where I'm
trying to, to be, to to to arrive at the point that I'm
trying to reach that journey is never, that journey is never
finished. That that's, you know, you still
on it? Yes. That journey. I'm still on the journey. I'm going to be on the journey
until I go to my grave. So OK, you know, it's never
ending. So just like I said, I'm an
inventor, so I'm coming up with something new every day and I
and I follow that path every day. So no, that journey never ends,
just a lifest
yle. It's a life that is your life. And you know, that's what I
enjoy doing some people, that's what they enjoy doing. So that's what they're going to
follow. So that journey never ends,
right? So we're not going in order. OK, I I personally know that
that is a tough question. I I personally know that I've
I've been successful with something. When I find a solution it leaves
it leaves me alone. I I'm always about figuring out
how to solve a problem and I'll go. I wake myself up in the morning. I
n my head, I'm like, all right
I got to solve this, this this and this and this. I might not get all those
problems solved that day, but I know it's about the small wins. Because I when I first started,
I was like, man, I got to I got to do something big. I got to I'm not, I'm not
feeling successful until I've completed a really, really big
solution or or solved a really, really big problem in my
business. But it's about the small wins. It's about the small ones. And you got to you have to you
h
ave to cherish and you have to feel a sense of joy and
happiness over those small wins instead of being obsessed with
just accomplishing a big overall problem or objective. And and I think, I think when
you, when you when you become obsessed with the small wins you
you manage and you pursue different things within your
business because you you have a sense of joy about coming to
work every day instead of just trying to instead of a
monotonous type of routine. I get you. I get you I I celebrate t
he
small victories as well. I I would, I would say, I guess
from my perspective, it doesn't seem like you're winning unless
everybody's winning. And so although you may feel
like you've done something, if the other person at the other
end of the table or across the table, if they're not winning,
then I feel like you know, from my standpoint, I guess we're not
winning unless we're all winning. And so if you're not creating
something that helps the benefit or helps to achieve something
where every
body can kind of play a part, then it's still more
work to do. I like that. I want to know whether or not
you've had any mentors or if you are mentoring anybody at this
point in time, Is there somebody who you're pouring into or did
somebody specifically? I I have an idea about who's
poured into you but I'd like to hear you share that well. The idea I have that I think
once I'm successful that's given back to the neighborhoods and
and since that I come up in a world of skills and what I'm
trying
to do is start a like a vocational training school. Something that's needed here not
only just vocational training academics is just as well
important. You need to have academics along
with the skills. And the guy I had a conversation
with was a fireman yesterday and he said something to me. He said, man, we need to start a
fire training in high school for kids. And I thought about it. I said that's a great idea, you
know, because if the guys want to be a firefighter when they
come out of high
school, they can do that. If they wanted to be in a
skilled trade job, I write out of high school. They can do that because when I
was going to school, I'm ancient. I'm just to be honest, I'm
ancient. When I was in school we had
vocational training schools and you was qualified to go straight
to a skilled job right out of high school. In the late 70s they started
desegregation program that were the worst thing could have
happened to the community actually because the kids was
getting up at 5:00
or 6:00 in the morning being bussed out to
these schools, get back home six, 7:00 in the evening. How they going to obtain any
information in their brains And they tired, That's not going to
work. But they kept all the county
schools, all the county vocational training schools. But we really needed it in the
City Schools. And that's my plan. Once this company minds us off
like it's supposed to be, is to give back to the neighborhoods
and and start a vocational training school for these kids,
you
know, right here in the city of Saint Louis. I certainly hope that you're
starting on a business plan. I am. I already got the school program
set up and everything. I got volunteers. They they knock on my door down
when you want to get it started. I say just wait till I get
started, then we'll work together. That's a beautiful thing. That's it. I think he deserves a hand for
that, everybody. For me, mentoring has come. Really some of my most valuable
tips. Most valuable mentoring has come
from
people that are right ahead of me. Sometimes if I look for a mentor
that's too far, too far down the road, things have changed too
much for where I'm at. And so I reach out to people
that are maybe one or two steps ahead of me. And I've got some of my most
valuable tips, some of my most valuable tools to put, you know,
to put together your MVP that's come from people that were only
just a couple. They hadn't gone, you know, too
far, but they were just a couple steps ahead of myself, OK? You went
to Hampton so are you
are you are you giving back to Hampton are you going back to
the school are you sharing with with with young people and young
entrepreneurs. Yes yes. So when it when it when it comes
to to to my Hampton community I I usually would charge for
consulting anybody else but anybody whether you're a student
or alumni I I don't charge them. I don't know because I think
it's very important to get back to your HBCU. And does Lumiere have millions
of dollars yet? No. But what you ca
n do is you can
give somebody millions of dollars in advice for them that
might change the trajectory of how they might operate, run or
start their business. So I think it's very important
for me to get back to my HBC in that way. As far as me obtaining mentors I
went through, one of my biggest organizations that I tapped into
was Score, and I'll always be an advocate for it. Score was a huge, huge, huge
mentorship network for me and that's how I got a lot of the
really great advice that if I di
d not have it, I probably
would not have been successful. As I have been in the
development process and then also in the operations process
once the business was started. I had some excellent, excellent
mentors. And as far as mentoring to
people, I think the the overall, the overall goal of mentorship
is not done unless you can pass on the vision. So once once you get the vision,
can you share it with somebody? Can you help them? Can you help others see it? And I think once you can share
that vi
sion with others and they can have that same fire to go do
whatever whatever it is that they want to do, I think that's
when that's when you've been really successful mentorship. And that's actually been my my
model for this year. I want to do more for others
than I I did for myself because I I made last year all about
myself. So then I I want to do more for
others this year and help people. So on that mentoring and that
that mentoring theme, I want to congratulate the three of you
for being coa
ches today because coaches arrive at a specific
place and they articulate and provide assessment. They talk to people about the
adjustments that they need to make and then we move forward
when we step back and we evaluate whether or not there
has been improvement. And from the assessment of where
you are and the adjustments and your journey and sharing that
with this body of individuals, I want to say I'm looking forward
to seeing a lot of improvement in the business plans, in the
engagement wit
h resources that individuals in this community
and those who have taken time out of their busy schedule to
come here. And to hear that the great
conversation that you were able to provide. I just, I just want to commend
you gentlemen and I want to give you a hand. Well, ladies and gentlemen, I
think when our time is up, I really, you know, they gave me a
mic and I get the Oprah moment and I really wanted to take
questions from the crowd, but I can't do it. So I want to thank Natanya and
her team
and everybody who's here and everybody who showed
up. Thank you for showing up as the
assistant, as the acting regional. I'm the assistant regional
director, but as the acting regional director of the USPTO
in Detroit, it is it always warms my heart to come to Saint
Louis and to see the individuals who take time out of their
schedule to come in here and to listen to the knowledge that is
poured out and that is provided. Thank you everybody. Thank you, James. So as we are going to transition
to
the next panel, I think it's very important to think about
when we think about the next generation, we all, we often
think about our people in college and universities. So we also have to think about
very young innovators in our communities. People are innovating at a very
young age. I'm also ancient, as Marvin
said, and through my time at the USPTO, I've had the pleasure of
meeting many young innovators. We're talking about, as an
example, Roslyn and her daughter Gabby. They identified a proble
m. Barrettes, right. Barrettes are being lost as
you're doing the hair. They actually obtained a patent
mother and daughter combo. Her daughter was only seven
years old when she came up with this innovative idea. So it's very important that we
not just look at are innovators that are in college, but we dig
a little deeper down and start making sure that we are
providing resources and inspiration to our innovators in
K through 12. So I think this is going to be a
good lead in to our next panel an
d we're going to switch it up
a little bit. Panelist, I'm sorry for the last
minute, but due to the format of the stage, I'm going to call our
subject matter resource experts if you will to the stage so they
can talk to you more about the free resources that are
available through the USPTO. So as we were just talking about
our very young innovators, I'm going to welcome my colleague
Reggie Duncan from St. Louis, an educator and definitely a very a
person that's very much involved in making sure
that teachers,
parents and educators get the connections that they need to
inspire our next generation of innovators. So, Reggie, thank you very much. Nathania, cannot stress to you
enough the importance of education. Everybody in this room had a
teacher. Everybody online had a teacher. Well, that was formal or
informal. Everyone had a teacher. My first teacher was my father
and fortunate that he's no longer with us, but the lessons
that he instilled in me are what allowed me to be here in front
of you. Today I work in the Office of
Education at USPTO Education Program Specialists. I've been blessed enough to do a
lot of things in my career, one of which was winning a
Presidential Award for Excellence in Mathematics and
Science Teaching. It's actually the highest award
STEM award you can win in K through 12 in the country. I say that to say that
opportunity along with others are what led me to United States
Patent Trademark Office. So Deputy Director Brent got me
going already talking
about the free burger because I'm going to
tell you something right now and nothing hits like free right. That being said, we have a
number of free resources here for you all. The first I want to highlight is
one that brought me here because during my time with the PIMPS
award, they showed us all these different federal agencies,
these opportunities you can go all these different P DS. And in my time teaching, I was
14 years, I taught mathematics and science with 5th graders. And I'm going to te
ll you
something right now, it is not easy, right? Especially being a black male, a
black male in education, you're talking 1 to 2% of the
population, right? And there's a lot of different
hats that you're wearing when you're in that situation. I was not aware of a lot of the
resources that were out there, especially the resources from
Office Education, that could help that load a little bit. So in the vein of free, one
thing that came across my table at the time that I won the award
was the Nat
ional Summer Teachers Institute. And I'm going to tell you
something right now when they told you, oh, you can do these
things at NASA, you can do these things here, you can do these
things here. All I heard was free trip and I
said I'm going. I had no clue how much it was
not going to be to change my life, but the life of my
students and the life of my colleagues. So last year we were here in
Saint Louis, We were at Saint Louis University. We brought about 100 teachers
from around the country.
This year we're celebrating our
10th anniversary. So we're going to be in
Alexandria at our main campus. As you can see here, you can go
to the QR code. It's going to take you to our
main landing page or education landing page. It will be one of the first
links up there. If you know a teacher or you are
a teacher or you have a child or you know a child, please share
that information about this opportunity. Teachers that are selected
outside of a 50 square mile radius, we will pay for their
fligh
t. We will pay for the hotel
accommodations, we will pay for food throughout the length of
the program. Again, if you know a teacher, oh
good, I'm glad people getting their phones out now. If you know a teacher, you know
how crucial that is for us. There are some different
guidelines if you walk within the 50 square miles, but that
being said, this was truly one of the best PDS I've ever been
through in my career. And I'm talking about I've done
them all. I've done PDS where at the end
of the we
ek you were expected to fly a single engine plane. This was up there. With that I've delivered PD in
the in the deserts of Dubai. This is up there with that. So please do share that
information and change the life of not only a teacher, but
obviously changing the life of a teacher. You know you're changing the
life of a child because the end of the day, we know your
geographic location should not determine whether or not you
become an inventor. I will say that again, your
geographic location, yo
ur access to resources, who you know or
whose class your child happens to land in, which was something
that was very crucial, important for me. I was able to get some of these
resources prior to my time coming to USPTL and I'm telling
everybody who will listen. But that's not fair. That's not right because the
child in Mr. Duncan's class, they have access
or they know about these different programs at the
national level. So that in that same vein, we
have our equip HQ website itisequippedhq.org
will redirect
you. That's kind of the quickest one
to remember, but it will direct you to our equip hq.uspto.gov
website. Because again, it does not
matter where you are in this country, you should have access
to these resources. This is a free, and I'll say it
again, free. Like Deputy Director Brent said,
nothing tastes good like free. OK Website K through 12 web
website The lessons, everything's great. Bandit, it's all great. Bandit. We have lesson plans, games,
activities, resources to get yo
ur child not only interested,
but to get them the skills that they need to be excited about
creativity, ingenuity and innovation in their classrooms,
right. I've done this for 14 years with
kids in the classroom. If anything, what I see more
often than not is creativity being suppressed. You can ask any teacher in this
country what happened in a room for the third graders that got
paper clips. So you don't tell them exactly
what they're supposed to do with them. OK, so we need to take that
creat
ivity, give them the tools they need, right? To see that success and also to
teach them how to protect their intellectual property. These kids have these wonderful
ideas, and they'll say, oh, how can I protect my idea? Well, you can't protect an idea,
but you can protect the original work, right? It starts with that foundation. And I'm really glad that
Nathaniel brought up. It's not just universities. Yes. Our office does offer K through
20 resources, but it starts in that foundation with the
st
udents when they're young, we got to get them early and we
have to get them consistently, right. So that being said, these
resources are online for you. We know the importance of
representation. We have our inventor collectible
trading cards. We're actually going to have
some of those back over here. I actually will be at South by
Southwest. I think what two weeks from now
giving a presentation on some of our inventor cards, some of
those cars will also be integrated with AR technology. It's com
ing, right? So when a beta stage, if you
want to see a what I call my party trick, come check us out
here during our meet, the subject matter expert, and I'll
show you a few things that you can do with those cards. But you know, when I was a kid,
I did not have a teacher that looked like me. Well, it's pardon me. I could count the number of
teachers that look like me on one hand Until I got to high
school. Until I got to college. The person who introduced me to
the importance of being a mentor a
nd being a teacher and who set
me on my path was a black woman who told me the importance of
giving back to my community and the importance of helping our
students and in turn helping all students. Right, So these cards here, kids
can learn a little bit about the stories of the inventors. We know the importance of
people, seeing people that look like them and understanding you. I can do that as well. That being said, we also have
our young, adventurous stories that we want to highlight for
you a
s well. Just like Natanya said, they're
seven-year olds with patents. I'll talk 5th grade. If you tell a room full of 10
and 11 year olds is a 7 year old with a patent, it's on right? So it's important for us to
share these stories. OK? We have lots of free resources
and programs that we offer for you all. Again, you can find us here at
the QR code, but you also at uspto.gov/education and I will
be here obviously the rest of the afternoon. If you have any questions, want
to stop by and we'll get
you hooked up. But before I go Nsti Free, free,
free. OK, Do you want to give that a
heads up that the application does close March 31st? That's next month. NSCI will take place July 21st
and 26th. And again in Alexander's. If you know a teacher want a
free trip, come check us out. It is a very high, highly
competitive process. I do want to share that with you
all. Obviously we can't bring every
teacher in the country for every cohort, but please do share that
information. If you have any quest
ions, come
check me out and I'll get you hooked up. Thank you. Thank you, Reggie. Thank you. So we also heard, I think it was
Marvin mentioned searching, right. And a lot of times people don't
understand the value of making sure that you get your
intellectual property protected sooner than later because we are
first inventor to file. We still meet people that say,
oh I'm taking my notes, I have documentation as to when I
invented this. That's good for you, but that's
not going to be good for you
to obtain the protection that you
need. So it's very important. The other thing is searching is
very important because even for trademark, you don't want to
start building the brand. You have inventory and then you
get a cyst and decease letter in the mail, right? And they telling you you bet get
rid of all your inventory and you better get ready to re
educate your folks. So when we talk about searching
it brings up our next subject matter expert from the Patent
and Trademark Resource Center. A
nd when we say free, I have to
add this. Oftentimes, I don't know about
you all, but when I hear free, I'm thinking it ain't that good. Okay, it may be free, but it
really ain't that good. But our free resources are
excellent. OK. So please pay attention to the
next all the speakers. And again, we will be around
after the program, so you can connect with us one-on-one. So next I'm going to bring
Eleanor to the stage. She's a librarian at our Patent
and Trademark Resource Center near us right her
e at Saint
Louis Public Library. Yes, Thank you, Nathania. Thank you everyone for being
here. I am so happy to be here. My name is Eleanor Chatterton
and I am the Patent and Trademark librarian at the Saint
Louis Public Library. So unlike like Reggie and like
the people who are going to follow me in this panel, I don't
actually work for the USPTO. But I'm still a USPTO resource
because the PTO has been collaborating with libraries to
increase access to information about intellectual property for
over 150 years. So let me take you back to 1870
when everything was print and it all lived in DC. So if you had an invention and
you wanted to research it, the searching is really important. What are you going to do? Take a train? Maybe ride a horse? I mean, like Reggie was saying,
it shouldn't depend on where you live. You should have that access. So starting in 1871, they
started sending out copies of printed patents to selected
libraries throughout the country and Saint Louis Public Library
was one of those. Now, as times have changed, so
have the materials. So in addition to print, we got
some nice microform. For a while we were getting
cd-roms. Now everything's online. So I always tell people start at
the USPTOS website, uspto.gov that's where we start. It's all there. So you might say, well, why do
we need a Patent and Trademark Resource Center? If I can just get to this
online, Well, everything is there. It's a little bit overwhelming
and in about the half a dozen years that I'
ve been doing this,
I have seen the website, just it just keeps improving. But there's a lot there. So I think it's a little bit
like so you find yourself in an unfamiliar city, you know that
it's got everything you need, but how do you find it now? 1 great suggestion is to go to
the Public Library. They'll help you for sure. But if you're like me, you're
probably going to turn to that little computer you've got in
your pocket. It'll give you directions, it'll
give you suggestions. So I'm kind o
f like an app on
your phone in a way. So if you were to say, hey, I've
got this great idea for an invention, how to how does the
patent process work? I can tell you and I can show
you where to go to find that information. And if you say how much is that
USP tail going to charge me in fees, I can show you that fee
schedule. If you say I'd really like to
protect my brand by registering my trademark, I can show you a
preview of the form so that you can be all prepared and make the
process go as smo
othly as possible. I can show you the trademark
database and give you tips for searching, and if you just, I
don't really know where to start. The library is a great place to
start. We can have a conversation. There's that IP identifier tool
that I've seen up on the screen a bit. That's pretty cool, but also
sometimes it's nice just to talk to a person. Now I'm a librarian, I'm not a
lawyer, so I can't give legal advice. So we eventually get to a point
where I just can't go any further. And at t
hat point I can direct
you to the list of patent practitioners. And I could also tell you about
the the free resources, the patent pro bono program, the law
School Clinic certification program, great stuff through the
USPTO. So that is what you can get at a
Patent and Trademark Resource Center. So I work for the Saint Louis
Public Library. I work at the Central Library,
which is a beautiful and palatial building. That's about a 5 minute walk
from where we are right here and it's a great place to
visit. I'd love to see any and all of
you there, but if you think you know if this is maybe isn't in
my plans, I have talked to people on the phone and walked
them through the steps to get them to the information they
were looking for. Emails Great 'cause I can send
links and screenshots. I've had web meetings
occasionally with people. So however you want to connect,
I am delighted to make it happen. So I can't thank the USPTO
enough for inviting me to be here and tell you about the
PTRC. I've
really been enjoying the
panels. And after they're done, I'm
really looking forward to the meet and greet that we're going
to have here. For our people who are here in
person, I'd love to meet you. So thank you. Thank you, Eleanor. So we've heard a lot about
brands, right? And that is definitely. A primary interest that we learn
about when we're meeting with entrepreneurs, small business
owners, they want to know how do I protect my logo? What does that mean? And I meet people, I will say
this,
I meet people, they appear like they got all together and
they're like, yeah, Nathaniel, I got my trademark, blah, blah,
blah. And we look up and it's ATM. So it's like, yeah, you have
your trademark, but you don't have a registered trademark. So it's very important for
people to understand the difference. And so I'm honored to bring one
of our trademark outreach specialist to the stage,
Christina. And she's also a trademark
attorney. So she's going to share
information about the free resources
that are available to
you to help you protect your brand. Christina, good afternoon,
everyone. Good afternoon. I'm Christina Callaway. I'm an attorney advisor with the
Trademarks Outreach Office at the United States Patent and
Trademark Office and we are the office that provides trademark
specific programming through live presentations and through
online webinars. So we're the office that you can
come to for free to request that an attorney come to speak with
an organization, whether it be your
organization, your business
about the trademark registration process, generally about
intellectual property and provide that trademark specific
programming that you may want to learn about the federal
registration process. I also served at the USPTO as a
trademark examining attorney. So I was one of the attorneys
when you file an application that is reviewing the
application. So I do know a lot even about
that process and the things that we're looking for when we're
reviewing those applications.
Our mission is to register
trademarks. It is not to hold back a
trademark or anything of that nature. So we want to make sure that
we're providing you with all the resources. These free resources will keep
saying that word so that when you follow that application,
that application is going to go through the public application
and you're going to have that R with a symbol that coveted R
with a circle around it for your registered registered
trademarks. If you would like our office or
an attorney
from our office to come speak to an organization or
a group, you can contact us at tmoutreach@uspto.gov It will be
an attorney on my team like myself and we'll we can provide
that programming live in person or through a webinar. We also provide many resources
online resources, these free resources that you can access. The 1st that I'd like to point
out is our Trademark Registration Toolkit that you
see here. You can scan the QR code or I
have the cards in the back here, just want to show them t
o you. And this is going to provide
some general information about what a trademark is, the
benefits of going through that protection process. And then we can provide you with
some basics about the federal registration process for
trademarks. You can also access it, access
it online. Like Eleanor said, Everything
that we're mentioning here you can find at uspto.gov that's
always going to be your base and foundation of getting that
information. We also have those online
webinars that you can acce
ss. When we provide these webinars,
you are going to see an attorney like myself live. It's not like a recorded video
that you're going to see. They're going to be live
webinars where you're able to ask us questions specifically to
the attorneys While we're presenting those those webinars,
we also have our trademark basics boot Camp. This is an 8 week module that
you can access that we're going to go through the entire
trademark registration process from the very beginning, from
the fundamentals
what is a trademark all the way down to
how to protect and maintain your trademark registration after you
receive it. It's an 8 week module. The next one is starting on
April of 2024. You can go to uspto.gov to
register. You do not have to accept attend
each of those specific modules. You can attend the ones that you
feel are most specific to what you're looking for. As far as the subject matter, we
do provide like one, for example, going through that
application process. You can sit down, open
your
computer, go along with us and actually file your application
at the same time while we're going through that and be able
to ask the attorney while we're hosting the webinar any
questions that you have about the application process. So that's a free resource that
you can register and go through that process to file your
federal registration as well as we provide just some general
information and resources about, like I said, intellectual
property, trademark, specific resources about filing
and
maintenance resources as well as going through the federal
registration process. So we're providing all of that
for free. And like I said, your base and
your start is always going to be our trademark registration
toolkit. I'll be here at the end during
the networking session, if you have any questions. Say you start, you haven't
started that process, so you want to know what that process
is like. If you don't even know what a
trademark is or have an understanding of that, I can
explain that
. Or if you've already started the
process, you started your application, you've received an
office action or you have some experience with that process. I'm here to answer any questions
that you may have about the trademark registration process. Thank you. Thank you, Christina. Thank you. So when we are attending
national programs, for example, we were honored to be at the
National Business League Conference. And we meet people and they're
like, we love your trademark videos. We love them, love
them, love
them. And guess what? I was able to get my trademark
without an attorney. So we're happy about that, but
we also want to make sure that you're aware of the free legal
resources. Because for me, yeah, I can do
things myself. If I can get something done
free, why wouldn't I take that route? So I think this is a perfect
time to introduce my colleague Anat. He is a member of our free legal
resource team. Anat, welcome to the stage. Thank you, Nathaniel. Thank you for having me here
today
. So I'm going to my name is Anand
Desai. I'm a patent examiner at the
United States Patent Trademark Office. So when you file a patent
application examiner's review your application determine
whether you will receive a patent or not. In addition, right now I'm
working in the Office of Enrollment and Discipline where
we manage two resources for independent inventors and small
businesses to get free legal services. Our first program is called the
Patent Pro Bono Program and that program is a nati
onwide resource
for independent inventors and small businesses to get matched
with patent practitioners, attorneys and agents, to get
free legal services, to file a patent application or to discuss
your patentable subject matter. And what you what you do is you
work with our regional nonprofit partners and they will match you
with an attorney if you meet the criterias that we use for the
programs in each state. And then the way you find it is
by going to the USPTO Gov website as everybody's ment
ioned
earlier today, and you'll find the Pro Bono Patents website. In addition, if you have
questions about the program, you can e-mail us. We have an e-mail box where we
can answer questions from individual inventors and small
businesses at pro bono at USPSPT o.gov So if you have questions,
we can answer your questions as well. So the second program is similar
to the first program in terms of finding free legal services, but
it's called the Law School Clinic Certification Program. And in additi
on to being a
service that provides services for patent legal services, they
also provide trademark legal services. So certain law schools across
the nation part are certified to work in front of the United
States Patent Trademark Office where a professor is responsible
for a class that trains future lawyers, students, law students
to get experience to work in front of the USPTO and they
prosecute patent applications and trademark applications. So they you you could go to this
website theuspto.g
ov law school clinic and you can find there's
a list of law school programs that are that are available to
inventors and you can look to see they're I they're listed
with the ability to do trademark work patent work or they do both
So you can find out what kind of service you want and then you
can ask them if they're available to take your
intellectual property applications to see if they can
work for you. And so these are two good
resources that are available that we just want to make sure
that
people are aware of. And if you have any questions, I
will be here also for a subject matter time period to talk about
any questions you may have. We also have a postcard on the
table with AQR code, So you can have that also. Thank you. And not and I know we have a
disclaimer on this slide if you notice and it says, yeah, the
the legal services are free, but as an applicant, you're still
responsible for your filing fees. But there's more good news. If we couldn't give you more
good news, I woul
d be amazed. But the good news is just going
to keep happening. So at the USPTO, we understand
that as an entrepreneur or small business owner, you're short on
resources, right? You're trying to build your
product, you're trying to, you know, get your market research
done. You're trying to do all these
things. So we have reduced filing fees
for patent applicants and when I say reduce, we talking about a
bar, we talking about 80% off, right. So that's a big deal, right. So that's important to be
mindful of like so don't get discouraged when you hear, oh,
it's going to cause you a lot of money to file that patent. Well, not necessarily so because
if you're a micro entity you would get 80% off the fees. So that's significant. So be mindful of that and one
other important thing that I think we should remind ourselves
to tell everyone, as I mentioned earlier, we're first inventor to
file, but there's more good news. So we have something called a
provisional patent application. So when you t
hink of it, a
provisional patent application is basically putting your
yourself in line, right. And I don't know the correct fee
off the top of my head right now, but we're talking about
roughly $100. That application is not
examined, but guess what you get, you can go out and say
patent pending, right. So you've been in the store, you
picked up a product and you see patent pending. That person is putting you on
notice. Don't play around. I've already solved this
problem. OK, I'm already ready.
So that's very important when
you're trying to get investors, you know, we talked about Shark
Tank, they're not going to want to invest in you. If you're not, you haven't taken
the initiative to protect your intellectual property. So just be mindful of that the
importance of filing early, you know, if you have this
innovative invention and making sure that you're aware of
provisional patent application. And so with that, as we
mentioned, we've got an amazing website, right, a lot of
information.
I've been working at the PTO for
35 years. I started when I was 5 so stop
trying to calculate, OK, 35 years next month. And sometimes I'm like, woo,
there's a lot of information, right? And it's valuable information,
but you got to know how to get to it. So one thing that we want to
make sure that you're aware of, it's a great place to start. It clearly is entitled Inventor
and entrepreneurial resources, right? And it's got a marketing link. So even if you don't have your
cell phone out, it's j
ust uspto.gov/inventors. And guess what? You come to this page, you're
going to connect with amazing people like Christina, Eleanor,
Anod, and so many, many, many more people. You're also going to be able to
connect with our regional offices. We know we have James in the
house, but we have a large virtual audience online
connecting with us throughout the US. So you'll be able to learn about
which regional office is located closest to you. They want you to stop by. It's very important as we say t
o
be able to meet in person when we talk about mentorship,
connecting with like minded people, right, Giving you a
guide like because there's so many pitfalls and challenges,
being an entrepreneur starting your own small business and
you're going to learn from each other as was mentioned
throughout these conversations. And not only that, you get
connected with other people. So I connect you with one person
and another person is going to connect that person with someone
else. So that's very impor
tant. And on this web page, we don't
have thin skin, so we definitely want your feedback. So if you go on here and you
say, Nathaniel, I don't know what you were talking about, I
was still confused by going here. We want to know your feedback
because this page is for you, right? We want to make sure that the
information here is relevant and timely. So it is set up so that no
matter what stage you are in in your process, whether you're
just getting started or maybe you're more seasoned, it's even
a link to take you to our startup page which will help you
get access to funding, which we're going to have that
conversation coming up on the next panel. But it's just so very important
for us to make sure that not only we give you an awareness of
our free resources, but how to access them. Because if you know about it but
you still can't get to it, it's not useful for you. So just want to make sure that
this is a great starting place. So it's just
uspto.gov/inventors. So before we get to the
next
panel, I got to be mindful of time. I just want to put in a plug
that we have programming throughout the year, right? And we celebrate Black History
Month throughout the year, if you will, because we bring black
innovators and small business owners to the stage throughout
the year in various programs. So as you can see here, this is
just a glimpse of some things that we do. Primarily we're very proud of
Invention Con, right. So that is a program that brings
all small business owners, entrep
reneurs and creators
together. It is typically a two day
program. So you're going to hear from
people that you can relate to people that may be in that spot. I think that Byron mentioned you
want to connect with someone that's at a similar place that
you are in. Your innovation journey is a
great place to come. We have Women's History Month
company coming up and that's our Women's Entrepreneurship
Symposium. But we also are doing a we
program every month. So we were delighted to be at
Heydays ye
sterday to engage with women entrepreneurs and show
that support. So this is just a reminder that
we do this all year round, but not only that you can access
programming, right? So say for whatever reason you
just learning about us, which you should have already learned
about us, but you can go to this web page and you can access
videos from past events and there's so many Nuggets left
from our panelists. We had Stacey Spike participate
in Black innovation and entrepreneurship program a few
year
s ago. He is the founder of Movie Pass. He's brilliant. He just, he just came out with a
book. I'm in the process of reading
it. So just please check out our
events and join us in the future. And then also you can watch a
video at a time and place that's convenient for you. So thank you. Are are we ready for our next
panel? And so access the capital. Oh, yes, yes. And I think we heard the
statistic like 2% like what? And it's even less for black
women, right. So that's, it's like you might
as we
ll say less than 1% for us, right. And so we, we know it's not
easy. And so I'm delighted that we're
able to bring this insightful conversation to the stage. So first, I'm going to welcome
moderator extraordinaire Shawn Wilkerson. So he's going to introduce the
panel access to funding. Thank you, Nathaniel. If our panel can come on up,
we'll have a seat. So this panel, I'll introduce
myself, I'm Sean Wilkerson, and we're going to talk about
accessing funding. And on this panel, we have three
won
derful individuals and I am the only person here who hasn't
worked for Stacy. So. So we're going to talk about
what's available to inventors at different stages during the
process, how you can better prepare yourself when you're
asking for funding. And I'm going to start with the
panel, starting with Kevin here. Kevin, I just want you to talk
about first introduce yourself, who you work for and what it is
you do for the innovation community. So Kevin Wilson, Executive
Director of Small Business
Empowerment Center and I work
for Stacey and still work for 30 years. I've been working for you in
some way of the shape or four, No, but we work primarily in the
empowerment zone helping small business owners grow and go
microphone. There we go. Is it all testing, testing. There you go. All right. That does sound bigger now. Yeah. So we, we work primarily in the
empowerment zone and surrounding low to moderate income census
tracts helping small business owners access SBA lending,
certification
and contracting. Stacy, you're up. My name is Stacy Fowler. I am the SVP for Minority and
Small Business Empowerment with the Saint Louis Development
Corporation, which we call SLDC. We are the economic development
arm for the City of Saint Louis and I am responsible for what we
call the Economic Empowerment Pillar within our Economic
Justice Action Plan. And with the NET Plan, I was
required to open up and Economic Empowerment Center, which is
called the Northside Economic Empowerment Center, r
ight next
to Sumner High School, which is the oldest high school West of
the Mississippi. Yes, yes. We were very intentional about
where we went and what we were doing because we wanted to be on
the north side of the city to work with the community and the
residents that live on that side and provide resources and
services to those individual companies and future companies
because we help people start, grow, sustain their businesses. And we also work with the
community surrounding that. And to s
upport that work, the
mayor saw, I knew Mayor Jones saw the importance of that and
she put $280 million aside for us to begin to do some of the
work that we are doing on the north side of the city. Thank you and Todd, my name is
Todd Gilliard. I'm the project director of the
Missouri. MBDA Business center. We're managed by the Chicago
Supplier Diversity Council and that Stacy Fowler is my boss. I am not that old. We we work with minority
businesses. Three things that we focus on as
a center is a
ccess to capital, technical assistance and new
emerging markets. We are agency Without Borders as
you say. We are allowed to work across
the country globally even we have clients in Belize, We have
clients in Senegal, Africa and we have clients in in many
states across the United States. I I was trying to name them all,
but I'm not. And so we we help businesses
grow. We help them get access to
contracts and opportunities that just may not be here in the in
Saint Louis, but it may be in other sta
tes or maybe something
federally. So we work with our network of
business centers and federal agencies to make it happen. Thank you. So what I want to do with this
panel is talk about the story of the inventor. When you begin a process, you
have to find resources. You don't always know where to
go, who to connect with. And from that point, once you
have those connections, you build your session of your story
with my business plan, my marketing opportunities, where
do I go for funding? And then o
nce I have that
opportunity, where can I go for investors. And that's what this panel is
going to talk about today. And we're going to start with
Stacy. Yes, you are. OK. So the reason he's starting with
me is, yes, both of these men have worked with me, but both of
their organizations support what we do at the Northside Economic
Empowerment Center. And so the center was really
thinking about when we were thinking about what the center
would do, we wanted to bring resources into the community
in
stead of always having the community come out, come
downtown, come here, come there, go everywhere. So SLDC is acting as a convener
of services for businesses from helping them with technical
assistance, helping them understand how to write their
business plan, helping them understand how to do their
marketing and their branding. Then you can get a trademark. I just heard that and then
making sure that they have what I'm going to call the foundation
ready to go before they would go to a Kevin or
to a Todd
organization. So if you don't understand these
things that you need in terms of your business acumen to make
sure that you're really doing business. And so the center's only been
open a year, but we've touched 1100 businesses, we've helped
people get their business license, we've helped people get
their EIN number. Because you know what, in our
community we think just because we register our business at the
Secretary of State, we in business, right? Yeah, you in business, but you
ain'
t legitimate. OK, let's talk real. Right. And so people didn't realize
that because they don't know, because there's no one sharing
the information with them and really helping them understand
what it means to be in business, right. And so SODC was giving money
away. We couldn't give the money away
because these businesses weren't businesses. They were hobbies. They were in their houses. They were whatever. And we spent a year helping
people understand you need a business license, you need an
EI
N number, you need all these basic things to be a real
business. And they were like, I don't
understand why I can't get the money. I don't understand. Well, OK, these are the things
we need you to do. But once we put you on that
trajectory, now you're beginning to be a business. Now you can go to other places
and get just additional resources because they're going
to ask you for the same things. And so they were like, OK, I get
it now. So that was the first, I think
we had like $5,000,000 that w
e gave away then we're sitting on
$37 million now that we're working businesses through. But see they had, they worked it
out over here so they could come over here and apply for the next
pot of money, right. And I will tell you 1314 day
five more $1,000,000 go hit the streets and there's going to be
a revolving loan funds. It's going to be one for
contractors who do construction work in the city and then it's
going to be one for profits and nonprofits for profits and
nonprofits for them to acce
ss additional capital. So we we start but then when
they need to go higher or they need things beyond what I'm
going to call technical assistance business acumen and
those foundational things to really become a legitimate
business, I hand them off to Kevin. So when people come to you, what
stage are people coming for information, Are you getting
beginners, intermediate, we get everything. So the way we have our our
center divided up, we're divided up into two hubs, we're
contractor hub and we're
for profit non profit hub. We help people start businesses. We help people who just say, I
just started, but I don't know what I need to do next. And then we help those existing
businesses and everybody when they come, they want money. I, even the people who don't
even have a business, ask for money. I'm like, you're not even a
business yet. It's like, can we at least make
you a business before you ask me for money? Right. But that tends to be the number
one question. And so we work with people
so
that they can be ready. We're massaging them and getting
them ready because I consider us to be the social service money
because they really want hard money from banks and venture
capitalists and other people like that. But you, you know, it was a big
no. If you go it to them when you
come that the way you came at me, they're not going to even
talk to you. So we're trying to package them
and help them understand these are the things that you must
have from a business plan when you ask you, w
ell, you got some
cash flow. No. You got AP and L No. Well, what banker institution
you think you're going to to get those dollars. So there are some things that
you just have to have. And so through our convening of
partners, you know my favorite story. Stacy is the guy who parked his
car in the middle of the street and just came in and asked for a
check. He's not kidding, right? John Cottage. He got out of the middle of his
car, left it in the middle of the street, middle of the street
coming
in because he thought he was going to pick up his Grant
funded money in the cinema. We we have wonderful stories. Yeah. Well he knew he was getting it
and going just coming here for my new dollar check. I like that. Yes that. So we work with you know our
motto in the center is we do with and that for, which means
you have to be an active participant in the process and
we do our dornness to meet people where they are to help
them get where they want to go. So someone walking in, What is
it you? W
hat is it you need to see? And what is it you would like to
see? When people come in to be
prepared, and if they're not prepared, what services do you
offer that help somebody get prepared to move on to the next
level? No problem. We want people to come in as
their authentic self. Come in being truthful about who
you are, where you are, so that we can be authentically helping
you get where you want to be. So if you think you have but you
don't know, you have whatever you think you have, bring th
at
with you. Like I said, we meet people
where they are. We have something called the
boss portal, which is our business office support system
where we have people register, we have them take a mini
assessment and then that and it just depends on which track they
are on. In terms of if you're starting a
business, we want to know what what is your great idea, what
are you trying to do, what you want to do if you've already
started your business or what have you done so we can identify
what's miss
ing. And then if you're in business,
where are you trying to go now? You know, COVID really wrecked
traffic on our small and minority businesses in the
community. We lost some and we don't even
have the data to really know what the number is, but we lost
a lot of businesses. And so we're doing our doing
this to sustain and maintain the ones that were able to hang on
through that process, to help them continue to move at a pace
that they can afford to do and stay in business, 'cause we, as
you he
ard them, say we need these businesses, we need small
businesses, makes this world go. And so everybody has creative
ideas. You know, sometimes we can't
give everybody everything they want, but if we can point you to
the right direction and give you the resources and the
information and know what to do, I think we're doing you the best
service we can private at that time. Excellent. All right. Well, we're going to move over
to Todd and we're going to talk about MBDA. And at this time, Todd, can
you
talk about what type of funding opportunities come from MBDA? So, so MBDA, we funding
opportunities, we work with banks, we work. So we run the gamut. And when I say we are, we are
agency Without Borders. We work a lot with CDFI funds,
private equity investors, banks, we, we, we run the gamut. But the thing about it is
they're all over the United States. We even have a a private equity
investor from Europe who is investing in the project that
one of our clients have in Tennessee. So we you k
now we we have, we
have investors as far as China that are looking to invest in in
certain products and things like that that we work with. So we kind of run the gamut. We we don't know we you know we
look and see what the client what your need is, what the
niche is. You know it's just like with
anything you know we we we kind of have a good idea what our
investors are looking, what investors are looking for what
they want to invest in and then we we kind of go after and so we
work with some, we
work with some banks like one of them is
Liquid Capital in Philadelphia that works a lot with us with
some clients who may get opportunities, may get contracts
but not have the funds to to start the contract or
mobilization looking for mobilization money in some
instance they will give that mobilization money. It's really called factoring. But this we work with this
company specifically because the interest, the interest rates are
low are are are they're not too high. And then they they work wi
th the
individual company to set a plan for them and they give the money
out quarterly. They they look at their assess
your business, they assess where you at. They'll look and say OK we'll
give you know case in mind. We had a client that won a $17
million contract out of the city of New York to provide products. We work with them to get the
money. But what they did with them was
they looked at the employees, they looked at the shipping,
they look at the branding that they had to do all of that,
figured out what it would cost to run that for three, three
months. So they gave them that upfront
money for three months. Along with that, they helped the
company see that by the end of the loan, the company really
didn't need the whole 17,000,000 because revenue started to pull
in from what they were doing. And so because of that because
they found an easier way to streamline what they were doing
and so they were able to cap the money and they didn't have to
pay back the whole 17 in most case
s. So that's why we kind of work
with them. They there's a special bank but
really we we you know we just we just you know I hate to say it
but we beat the hedges on trying to get the money for our
clients. We work a lot, we work with
Kevin a lot to help our clients. So we just go try to find and
get it done. So when people come to you what
do you see is the biggest obstacle or challenge that
people can't get over and understanding what I need to
provide to you for funding. I, I this is this is
the thing
that kind of like gets first of all they think you can just give
them money and they think you supposed to do it. They think like Nah y'all the
federal you supposed to give me this money. And and that's not the case a
lot of times what I think hinders some of the people I see
like I have a client that has a really great product and it's a
but he is a reseller of this product. He doesn't invent this product
and he wants to get this major contract, this major contract is
going to have. H
e has to guaranteed shipment of
like 34th like I think it's like 3000 units and he has to do this
a month and it's going to ship across different areas for this
company within this within the United States. He sees the money and he wants
to jump at the money because he can get the he he can probably
get the contract. The problem is I said listen you
need to have you need to have a letter a a guaranteed letter
with your sit down with your attorney and your distributor
got to say that he can super
vise that because here's the thing
our brand is on the look on the hook when we go tell this major
corporation yeah he can do it and and we're we're advocating
for this person. Your brand is on the hook
because it's your first time jumping off the porch and doing
something this major. So you really need to process in
some law and all situations ain't good situations and so
that's hard when you have to tell a company that who wants to
grow And so I I tell companies be realistic about your goals
w
here is your you know I I look at your business plan I look at
your capability statement. I look at your company's seesep
plan to see what you going to do. What do you have, what do you
have, What's the C cell plan? What's the C cell plan of C cell
plan? I call it AC cell plan, but
other people call it a different plan, but it's a five year plan
projection for your business and in that plan you have things
within the plan COVID hit, OK, this is what we're going to do. This is this. You have to h
ave those things
have to be solid because it it is a lot of people think I'm
going to get in business, I'm going to get rich or I'm going
to get this government contract, I'm going to get rich and I'm
going to get and they don't take into consideration the package
shipping this and the small thing. So I, you know part of the job
is you know and our team is really being realistic with
people that walk through the office and being able to assess
where you know what the needs is. We have a vetting
form with
embedded in our application and we sit down as a team on Mondays
and we'll talk about you know can we really do what this
person is asking us to do. And if we can't, that's why we
have straight good strategic partners like Stacy, like Kevin,
you know that we can say hey, go here, get this, go here, get
that and and when you're ready come back. Now we're ready to go get this. So you know, and so yeah, that's
that's that's it, great. So when people are looking for a
funding opportunity,
when is the right time for them to come to
MBDA? Is it always, let's go to MBDA
or should I be going somewhere else? What makes MBDA the right
choice? What makes MBDA the right choice
is when you're ready, when you, when you have a relation, a
banking relationship, when you have a relationship, right. When you when we can look at and
we can see based off your company portfolio the things
that you have done and the things that you have financed,
right. Because by the time you come to
us you're sa
ying, look it's an opportunity in Georgia I want to
seize on or hey I seen this, they, they have this federal,
you know whatever they have this program and I want to, I want to
seize the opportunity. So the good time is where you,
you, you. All those things, the the, the
basic small things are in place where we could take the package. We can look at the package and
we know exactly where to put it. So you did your homework, you're
coming with, you come in like my my friend, my colleague in San
Fr
ancisco like to say, you're coming with your company
receipts. And when you come in with your
company receipts, we're able to see best how to serve you and
where to place you and really look at the opportunity for you. And then advocate. And I say again and I always
have to say this, we can't make nobody give you any money. We can't make no one give you a
contract. Only thing we can do is advocate
and and what we advocate off of is your company and what you
have done and that sweat equity that y
ou put in there in that
company. And so that's. Yeah. And do you look at the
intellectual property that the company has during this process? Depends on how much money they
asking for. Depends on how much money they
asking for. Yeah. And in some cases. In some cases, yeah. It, it depends on. Yeah. It depends on how much you're
asking for and and what kind of leverage we need to make it
happen. Great. All right. Well, we're going to move over
to Kevin now and Kevin kind of has a unique job. I I le
arned a lot when we got to
talk earlier in our session before and it it's interesting
because he not only helps people understand what they need, but
he goes after the loans for them and with them. So I want to talk about that
when people are coming to you. Well, first of all, explain that
a little more about why people are coming to you and what they
need to be prepared with and then we'll go into how you
doctor alone. So I'm always asking that
question every day, like why are you coming to me?
OK, so, so, so just, you know,
the two-minute background of the madness of Kevin Wilson. So, so I started off in Stacy's
shop you know 20 something years ago as senior loan officer doing
SBA lending, microloans, TIF tax abatement, all the things. And so and I think there was
this pivotal moment where they started contracting me out to
other organizations to do their underwriting for their loans and
I was like, so I thought I worked for SL. Lisa, yeah, you're going to be
working for some other p
eople too. So I I started to understand the
complexity of underwriting for other organizations and then I
just started getting people coming to me like hey, could I
get a loan from so and so like, OK, let me figure it out for
you. And so that has kind of been my
career since is that we try to figure out where you are right
now and then where you want to go and then what's that pathway. I will be honest to say I can't
do what I do without partners like Saint Louis Development
Corporation, Stacey
in particular and Todd Gilliard at
MBDA because and and Lynette Watson at SBDC. Because I need those wrap around
services that can help the client or potential borrower get
the things they need. So that we can get them to the
lender funder that can make it happen. And so I, I, I, I humbly say
that I think I understand what lenders are looking for. And then I can help translate
that to layman's terms so that they can understand the, the
pathway to success. And part of what we talked about
was and
Todd, were you going to comment? Go ahead. No, I was just going to say
Ditto because you know having this job, I would sit in cabin
office and be like, hey, what you doing. But I'm really asking questions. I'm trying to ask questions for
my clients. And so you know, he, he, he is
the man. He is the man. So let's talk about what people
bring to you and how you package that. What is it? What is it people are really
needing to bring to you to show that alone as possible and how
does that packaging
help them move forward in the process. So great question. So you know, when you think
about what the typical SBA lender is looking for and when
we talk about SBA loans, we're talking about Small Business
Administration and that is a guarantee that they give to a
bank on the borrower's behalf to guarantee the loan to mitigate
the risk of doing a deal for you, right. So what we're looking for is the
documentation, the information, the patents, the all the things,
all the documentation that is nee
ded to help a lender wrap
their head around your deal, right. And then I'm there to help you
put it together to understand what you're getting into. So you know exactly up front
like, OK, so I'm, I need these documents, I'm giving up this,
I'm giving them my first born child, etcetera. I got to give a vial of blood. I'm going to explain all of that
stuff to you on the front end and then you make your choice
whether you want to continue on, right. And then we typically follow
through with you to
approval closing and then afterwards so
that you know like, OK, so now that you've signed your Lifeway,
this is what you need to do to stay in compliance because when
I was working for Stacey back at SLDCI used to have to find
deals, package deals, close them and service them. And when servicing, you know,
sometimes you've got to liquidate people's dreams. And I don't want that for you,
right? I don't want that for myself,
right. So, so we want you to be as
successful as you possibly can when yo
u're going into these
financial transactions. And part of what you do, we talk
about loans, we talk about grants, but you also deal with
tax credits. Can you talk about how tax
credits benefit people as a funding opportunity? Great question. So many times tax credits are
you know, kind of passive types of things. So you know whether that is, you
know, I focus a lot of my work in the empowerment zone. So the empowerment Zone has a
wage tax credit that if you are located in the Empowerment Zone
an
d you are hiring in Empowerment zone employees, and
when I say hiring not 10,000 times, they're on payroll,
right, then you can get $2000 or more off of your federal taxes
per employee. And so many Empowerment zone
businesses that I work with can get up to $30,000 off of their
federal taxes because they're employing Empowerment Zone
folks, right? But there's also the Work
Opportunity Tax credit that if you're hiring veterans hard to
employ you ex offenders etcetera, you can get two $3000
off you
r federal taxes with the work opportunity Tax Credit. Also through Saint Louis
Development Corporation, there's the new market Tax Credits,
which can turn into investment, which you know, we we help guide
folks. That's usually a fairly
sophisticated kind of deal where you know you you're doing some
real estate development and have you know, appraisals,
environmental assessments, you know, you have all the things
that we can guide you through that process also. But there's a myriad of tax
credits
that are out there that can to be fair to say, enhance
the deal, but they don't make a deal, They're more of an
enhancement versus making the deal happen. They will help you bridge the
gap. If there's a, you know, 251010
percent, 20% gap in your deal where you need to get some tax
credits, some tax credits are sellable and transferable
investors will buy those from you, things like that. We have even helped some clients
have gotten you know lie tech I should say low income housing
tax credits,
tax credits sell those in with to U.S. bank and other banks to get the
gap that they're missing. So and when we talk about
funding and this is for the whole panel, how do you help
people understand in some cases they have to give up part of
their company for funding. So, so, so I will be the first
to say I don't do a lot in terms of Angel investment and venture
capital. I might have participated in
maybe 10 over my career and that and even then I was doing
probably the lending portion of the dea
l. But what I would say in terms,
and I wish Alfred Jackson or somebody who does venture
capital was here, but I would say when it comes to giving up
ownership in your project or your your business, it's from my
perspective, it's a a, a preference. Some of my previous borrowers
did not care at all about giving up 90% of their business as long
as they could do their science. They said, Oh yeah, I gave up
90% of my stock and I got to do what I wanted to do. Yeah, yeah. I had a lady who she had a v
ery
innovative game that all she had to do is give up 15% of her
company for $200,000 and she said I cannot do, I cannot give
up 15% of my company. She never launched but she it
was her choice and I had other guys who just said, hey, you
give, I get 50 give away 50% and I get $1,000,000 that I'll do
that deal all day long, right. So it's a preference. You have to understand that once
you get over that 51% you're working for them and so but you
know it's it is a preference you know so, so yeah, w
e we we deal
a lot with that. Well I, I, I kind of agree with
Kevin. I mean some people look at the
benefit, you know if I'm going to get half $1,000,000 and this
is going to get me where I need to be. So you know, giving up 20% of it
and I'm taking 80, that ain't bad. You know that ain't bad. And then in some cases they able
to write, you know, you got that 20% but you don't have, you
know, you have no decision making. You have none of this. You know it's a like a silent
part and some people do
n't mind, you know, because the project is
still and I know a couple of projects I I'm in at liberty to
say, but the project is still going on. That person is still, you know,
the face of the project is theirs. They make it 80% of the money
and the investor took that 20% and getting that 20% and
sometimes it's termed, you know sometimes they you work it out
and you turned it it it it depends on on on you as the
individuals. And in most cases it it depends
on what you really want to do. A lot of
people when they get to
that point to where they going to give up 20 percent, 10% of
their company to to to make this launch. It's usually somebody that has
been invested in that company for years and have done
everything that they needed to do to to to try to finance it
the right way and just need this. But they know they have
something that is innovative. They know they have something
that really is going to be a money maker. You know it's like hey would I
and and know it's going to be you kno
w like this particular
company I know within the first year they probably grossed
probably $20 million, you know $20 million and they gave up 20%
of that. So to give up 20% of $20 million
and you steal a millionaire you know it was beneficial for them
And so you have to really look at it and say but but I I think
sometimes and sometimes we we we tell them you know really think
about it you have to tell someone do you really want to do
that and and in that case it's a it's a lot of times where it
's
something where it's a here and now type of business. It's it's something like I don't
know Chia pets or something you know that that is it's popular
now but in five years is it going to be sustainable. So then you got to have that
sustainable talk what what you're doing what's your
business is it sustainable. Can you look back at what what
you are inventing, is it just five year product and then is is
is done, the wave is gone or is this something people going to
be is going to be game chang
ing and so you have to look at that. One of our newest clients
created something that we all use and he gave a percentage to
get it out the gate and he did it and we use it. Right now it's on everybody. Everybody in this room probably
uses it and they have it on a phone and and they use it and oh
**** it's, well, it's the casting to cast on. Like if you're watching
something on your phone, you want to cast it on your TV and
you hit that button. Yeah, yeah, yeah, he created
that. And he gave up a
percentage in
order to do that. But he created so much more with
the percentage that he gave up. He was able to take that, which
everybody still use, and he still gets his money. But also what he does is, I'm
sorry, it's time to go, all right, all right. But but also but also but also
the one thing about it is he created a lot of other stuff
without with the percentage that he gave up in the revenue that
he made. He invented a lot more stuff. So you know that's that's the. Yeah. But we we get t
hat a lot,
especially when you deal with equity investors. So James, I I appreciate you
getting jealous of our panel discussion and turn off the
lights. So time for one last question
and we'll just be brief. Nathania's up here with the time
marker, but let's just go with what should people come with
when they meet with you to have the best experience? What's going to help them
achieve the most when they meet with each of you. So we'll start with Stacy number
one. They need to know that they need
to come with a can do attitude, which means when you come in,
you know you want to do something. We're not there to do it for
you. We're going to do it with you. And you have to have the
tenacity and the consistency to stay to it and walk through the
process so we can get you where you need to go because it
doesn't happen overnight. All right. Kevin, I would just add to what
Stacy said is that understanding this that we I don't have any
decision making or whether you get the money or not right.
It is do you come with this
understanding of we are it is a partnership to get it done and
and our desire for my organization is for you to be
successful and that everything we are suggesting and I will
never tell you what to do. I'm suggesting some things and
if you follow those suggestions it will probably get you to
where you want to go at some point in time. And Todd you get to close this
out. I say come prepared you know
come prepared. Everything that you got from
Stacey everything that yo
u got from Kevin just bring it over to
us but come prepared. I I tell people I say they
should be able to look at your your business plan your
capability statement and ask you questions. If that's whether you you're
sitting in front of a loan officer or whether you sitting
into somebody trying to get a buy right or trying to get a
contract. They should be able to look at
it and know exactly that if I gave this person $100,000 they
going to be able to pay me 125 back. And Ty, can I add this And y
ou
know, y'all can kick me. The buyers, the bankers, the
investors know a hustle versus a business. Yes. Oh, God, yes. Yes. Amen. We legitimize hustle every day. That's what I do. Hello. All right. Just so you know. Well, on that note, you can see
her after the program at this table. I'd like to thank our panel and
at this time, thank you for having. Thank you for having us. Thank you. OK. Do you want a sitting or
standing? Standing. OK, Don't let it hit us. So I don't. Oh, I know. That sounds l
ike. Oh, OK. Thank you. Access to funding, definitely. We know that's a challenge, as
mentioned. So we know that you just got a
lot of valuable information. And so for our audience online,
I just want to give a couple quick, I guess, URLs, because we
have representation from people that are local. But MBDA, the Minority Business
development Agency, a part of the Department of Commerce is
available. They have centers throughout the
US So I'm not sure where our online attendees are. But if you go
to mbda.gov, you
can learn more about centers that are located close to you. We've heard a lot of reference
to SBA, right. And so SBA actually gives us
these wonderful small business development centers. So you can look online at
sba.gov to get a lot of helpful information. We've heard mention of a
business plan. So that's another great resource
that SBA can help you out. I think Terrance Wheeler
mentioned earlier score. So there's a lot of, Oh my gosh,
I've been on score because again, I alread
y told you all
how long I've been at the office. So I'm trying to retire and
start my own business one day. And so they have a lot of
helpful business videos and they also can connect you with the
mentor. So these programs again are for
you. So on the slide right now, I
have AQR code to help us get your feedback. So it's a survey, it's a short
survey. Please take the time to give us
the information. We will be following up with all
of our online and in person attendees to give you links
because
we've talked a lot, right. We've been talking, talking,
talking. You may not have a pen and a pen
and piece of paper, so we're going to follow up with you to
give you links. But in the meantime, please make
sure that you take the survey. Also want to share a very
helpful part of our website because again, we appreciate you
coming out in person, but there is help no matter where you are. And we appreciate you sharing
all this good news with your family and your friends because
we are America's in
novation agency. We are your USPTO, right? So we want to make sure that
you're able to connect with us. And so this link will take you
to a page that can tell you what's near. We talk a lot about networking,
so you can go to your state. You can learn about an inventor
or entrepreneur group that's in your area. One more thing, folks, hang on. So we talked about a lot of
programs. I know Christina, our trademark
expert, mentioned trademark education program. So if you go to
uspto.gov/events, you'r
e going to find a lot of helpful
upcoming training. It's all free and it's all
amazing. And so this is for you. As you can see, we know you're
busy because you may be doing your side hustle, right? So our programs are virtual, so
you don't have to worry about, you know, stepping out and
coming greeting us in person. But we appreciate when we are
here to meet you, where you are, if we do have a chance to
connect with you in person. But we offer a lot of virtual
program. So just want to thank the
wonderful audience both online and in person. Yes, yes. And and my amazing team of USPTO
colleagues, there's so many of you that have supported us here
on site and back at the office. So I can't say all of your
names, but you know who you are. We couldn't do this without you. So we appreciate that. And for those of you that have
joined us in person, please join us for networking. We have light fare and we'll be
able to connect you with subject matter experts off to the right. So thank you again.
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