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Welcome I'm Sean Wilkerson Innovation

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development program manager here at the

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United States Patent and Trademark Office.

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I want to thank you for joining us today

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for the Women's Entrepreneurship Symposium.

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We're excited to have you here for the

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4th in our series of discussions held

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every Wednesday in March celebrating

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Women's History Month before we start

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the panel investing in innovation.

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I have a few housekeeping notes to go over.

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The agenda for today's program

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is in the inbox of everyone who

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registered for the program,

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but it can also be found on

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our website at www.uspto.gov.

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During the panel we will be

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accepting questions for the panel,

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so if you'd like to send us your question,

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you can do so by emailing us at WES at

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uspto.gov will do our best to get to all

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of your questions by the end of the panel.

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And if we don't we will try and reach

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out to you after the program to make

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sure that we do answer your question.

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If for any reason you get

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disconnected during the program,

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you can log back in using the

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Webex link that brought you here.

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If you missed the portion of today's

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program or if you have to leave early.

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You can find the program on our website

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in just a few weeks at www.uspto.gov.

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If you're anxious to see the information

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again or see the portion that you missed,

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you can also go to our Facebook page.

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USPTO at Facebook and find the video online.

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It will be available after the

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presentation today immediately,

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but if you'd like to watch it later,

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you can also find it on our

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website at www.uspto.gov.

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At this time,

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I'd like to ask our panel to please

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make sure their microphones are

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unmuted and their cameras are on,

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and I'd like to introduce you to

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our moderator for today's program,

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Hope Shimabuku,

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director of USPTO Texas Regional Office,

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Hope.

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Thank you Sean,

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and thank you for allowing me to

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moderate this very esteemed panel.

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I am super excited to be here as

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we're talking about a really important

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topic on investing in innovation.

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One of the things and the questions

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that I get asked a lot is that OK,

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I have this wonderful idea and I have all

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of these products and services to sell,

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but how do I get the funding to

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be able to support the business

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that I have and these women are

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Leaders in the industry who

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are going to be able to answer

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that very important question.

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So I'm gonna start off by introducing

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each one of the panel members here

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and then let them talk a little bit

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about who they are and that the

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organization that they are working

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for or they are representing and

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I'm going to start with Elizabeth.

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Thank you so much for joining us.

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Elizabeth is the founder of an

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organization called SoGal Ventures,

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and so can you tell us a little bit about

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yourself. And SoGal Ventures and

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then give us a quick introduction

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on the differences between the

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different types of investment.

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An funding mechanisms. Specifically,

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what's the difference between an Angel

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investor and a venture capitalist?

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Thanks so much Hope, hi everyone,

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I'm Elizabeth Galbut.

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I'm one of the managing partners of

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Sogal Ventures were an early stage

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venture capital firm that invests

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in companies that are building

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how the next generations live,

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work and stay healthy.

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So that's consumer tech.

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Health tech.

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In enterprise software we invest in

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diverse founding teams so all of our

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companies have at least one woman founder.

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When we invest in them.

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But we invest in broad based diversity.

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So everything across

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making sure the team has.

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You know diversity and gender,

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LGBTQ, immigrants,

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veterans, different races,

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socioeconomic backgrounds.

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This is really important

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because in venture capital,

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these groups are traditionally under

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represented and who gets funding?

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And that's really important,

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and why?

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I'm sure all of you are on this

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call to figure out if something

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like venture capital or Angel

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investing is right for your business.

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So as a venture capitalist and our firm.

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We invest anywhere between

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100,000 and $1,000,000 into an

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early stage company and we're

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investing that on behalf of people

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who have invested in our fund.

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So we have investors ourselves

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in when you're accepting venture

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capital that's accepting.

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Kind of this pool of capital

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for many investors.

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On the other hand,

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Angel investors are individuals

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who have created wealth in some way

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in their life that are investing

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their own Personal Capital.

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Into your company,

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oftentimes at the really early stages,

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you might have actually Angel

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investors in venture capitalists,

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both coming in to fund your company,

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but something that's really

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important to sort of

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Remember,

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venture capital isn't right for everyone,

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it's right for certain types

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of businesses that do want to

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be high growth and have their

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sets have their sights set on.

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You know,

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growing a business between

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$100 million a billion dollars.

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And beyond and do want to grow the

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business with prioritizing high

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growth compared to things like

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profitability or sustainability.

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And typically they have some

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sort of underlying technology,

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IP or business model that really

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makes sense when you're investing

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a lot of money into a company

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to grow very quickly.

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So is the right fit for some businesses,

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but not for all businesses.

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I know it's really publicized.

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A lot in the news as the only

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type of capital.

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Or you know the move special type of capital.

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But there's so many other options

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and I know all the panelists day will

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be talking through the different

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options and I think it's really

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important as an entrepreneur to

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learn about all these different things.

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Whether it's venture capital,

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Angel financing or some of the other

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things we'll talk about today.

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Alright, thank you Elizabeth. Our next

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guest is Ruth who is the CEO of Crowd Funding

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Road map incorporated.

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Can you also tell us a little bit

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about yourself and give us an

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overview of your organization and

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then also tell us a little bit

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about the work that you have done

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legislatively to enable crowdfunding

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and why This is helpful especially

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to a woman business owner.

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Sure, thank you Hope.

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Thank you so much for having me today.

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Come. I am one of the original

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pioneers of every crowdfunding.

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I worked with a group of people who,

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during the last recession in 2008,

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we realized that there was no capital.

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They've had all dried up,

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unlike this recession.

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And there was no PPP loans.

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There was nothing basically

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saving small businesses.

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And so we went to Congress with this idea.

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The original draft of this was

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called the startup exemption

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and we got we spent two years

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walking the halls of Congress and

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speaking to different people.

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Actually Woopie

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Goldberg was one of our original supporters.

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Steve, the head of AOL,

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was one of our early supporters.

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the US Chamber of Commerce came

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on board and then eventually

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almost 400 Congressman 2/3 of the

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Senate and President Obama signed

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into law in the JOBS Act of 2012.

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This our title 3486 which was the

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bill that I helped create but we

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got regulation A plus which is

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another form of crowdfunding and we

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were able to also convert 5 

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a Reg D offering to a 506C which

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is another form of crowdfunding.

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So in the bill there's three

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different kinds of crowdfunding

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that did not exist before and what

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this means to all of you is that

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you can go to a funding portal.

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And or you can deal with if the

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company is dealing with the broker

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dealer on these registered offerings

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and you can as an average American,

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not as a VC and not as an Angel.

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You can invest in any of these

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companies and this was not legal

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before and we really feel like this

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is really where the conversation

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needs to be because there's trillions

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of dollars sitting in the hands of

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350 million Americans and they don't

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understand the power they have.

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In transforming the kinds of cities

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and communities that they want

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to live in with their dollars,

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and so we have launching later this year,

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a platform called Rise Up crowdfunding.

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Can learn about it at riseupcrowdfunding.com.

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We're working on this project with

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the Coca Cola Company and their head

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of supplier diversity and we are

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really trying to change the mindset

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of people who have spent their

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extra money on lottery tickets and.

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And on on sports betting and

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gambling and just consuming things,

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purchasing things.

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And during this pandemic specifically,

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we we have seen a lot of people

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Come to the rescue on crowdfunding

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platforms and help save the the

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small businesses in their community.

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So I'm really excited about, you know,

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having this conversation today and

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thank you so much for having me.

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Alright,

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thank you Ruth,

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our next panelist is Natalie who is

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the assistant administrator for the

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Office of Women's Business Ownership

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and Small Business Administration.

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Can you give us a little overview

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of yourself as well as the office

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that you are working for and

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then specifically also talk a

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little bit about the kind of funding

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mechanisms that the government can

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provide a specifically the SBA,

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including SBIR and STTR grants?

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Absolutely so first thank you

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all so much for having me.

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As was mentioned by name is Natalie

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Madeira Cofield and I'm the newly

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appointed assistant administrator,

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leading the Office of

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Women's Business Ownership,

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which sits in the Office of

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00:11:20,990 --> 00:11:22,070
Entrepreneurial Development at

283
00:11:22,070 --> 00:11:24,228
the Small Business Administration.

284
00:11:24,230 --> 00:11:26,474
Our office is really the voice

285
00:11:26,474 --> 00:11:28,537
for women business owners across

286
00:11:28,537 --> 00:11:30,037
the federal government,

287
00:11:30,040 --> 00:11:31,696
working to support entrepreneurship,

288
00:11:31,696 --> 00:11:33,469
enterprise, access to capital,

289
00:11:33,469 --> 00:11:34,828
access to contracts.

290
00:11:34,830 --> 00:11:38,267
And access to equity for women entrepreneurs.

291
00:11:38,270 --> 00:11:41,350
We're very proud to have created the

292
00:11:41,350 --> 00:11:43,635
largest expansion of our women's

293
00:11:43,635 --> 00:11:46,275
business center program in the history

294
00:11:46,275 --> 00:11:49,559
of the Small Business Administration.

295
00:11:49,560 --> 00:11:51,033
When this year,

296
00:11:51,033 --> 00:11:52,997
we actually brought onboard

297
00:11:52,997 --> 00:11:54,470
another 20 centers,

298
00:11:54,470 --> 00:11:58,230
giving us a total of 135 women's business

299
00:11:58,230 --> 00:12:01,840
centers and 135 cities across the nation.

300
00:12:01,840 --> 00:12:04,846
And each year the centers work

301
00:12:04,846 --> 00:12:06,349
with nearly 60.

302
00:12:06,350 --> 00:12:08,430
Thousand women supporting them through

303
00:12:08,430 --> 00:12:10,094
their entrepreneurial ambitions and

304
00:12:10,094 --> 00:12:11,919
their entrepreneurial interests.

305
00:12:11,920 --> 00:12:14,144
With that being said,

306
00:12:14,144 --> 00:12:17,480
I think the Small Business Administration

307
00:12:17,573 --> 00:12:20,044
is it has become a agency that

308
00:12:20,044 --> 00:12:23,047
is top of mind for many people,

309
00:12:23,050 --> 00:12:25,370
particularly during the covid pandemic.

310
00:12:25,370 --> 00:12:28,408
I am sure that folks have already

311
00:12:28,408 --> 00:12:30,939
heard of the PPP program,

312
00:12:30,940 --> 00:12:34,188
which is an access to capital opportunity.

313
00:12:34,190 --> 00:12:37,454
Given the covid pandemic as well

314
00:12:37,454 --> 00:12:39,630
as the economic disaster

315
00:12:39,630 --> 00:12:41,450
Loan program that we have.

316
00:12:41,450 --> 00:12:44,816
I would like to make note that the PPP

317
00:12:44,816 --> 00:12:47,637
program is set to expire on May 31st,

318
00:12:47,640 --> 00:12:49,901
2021 and if you have not applied

319
00:12:49,901 --> 00:12:52,568
and you are in need of funding

320
00:12:52,568 --> 00:12:54,184
to support your business,

321
00:12:54,190 --> 00:12:56,731
please go to sba.gov and learn more

322
00:12:56,731 --> 00:12:58,691
about both the economic disaster

323
00:12:58,691 --> 00:13:01,085
an injury loan program as well

324
00:13:01,085 --> 00:13:02,829
as the PPP program.

325
00:13:02,830 --> 00:13:04,442
With that being said,

326
00:13:04,442 --> 00:13:06,860
if this is not disaster related,

327
00:13:06,860 --> 00:13:09,394
SBA has a number of other financing

328
00:13:09,394 --> 00:13:11,509
opportunities that it uses through

329
00:13:11,509 --> 00:13:13,437
intermediaries and financial institutions

330
00:13:13,437 --> 00:13:16,127
across the country as was just

331
00:13:16,127 --> 00:13:18,542
mentioned by one of our other panelists.

332
00:13:18,550 --> 00:13:21,292
The reality is that 99.95% of all

333
00:13:21,292 --> 00:13:23,488
businesses in the United States of

334
00:13:23,488 --> 00:13:26,197
America will not receive venture capital,

335
00:13:26,200 --> 00:13:28,818
and so if you are interested in

336
00:13:28,818 --> 00:13:31,039
scaling and growing your business,

337
00:13:31,040 --> 00:13:32,692
then obviously things like

338
00:13:32,692 --> 00:13:34,344
crowdfunding or seeking traditional.

339
00:13:34,350 --> 00:13:37,278
Financing is important to you and so the

340
00:13:37,278 --> 00:13:39,126
Small Business Administration provides

341
00:13:39,126 --> 00:13:41,206
microloans through intermediaries of

342
00:13:41,206 --> 00:13:44,490
up to $50,000 for small businesses.

343
00:13:44,490 --> 00:13:47,717
The average loan size is about $13,000.

344
00:13:47,720 --> 00:13:50,372
They also have the 7A

345
00:13:50,372 --> 00:13:53,177
loan program which can give you

346
00:13:53,177 --> 00:13:56,015
working capital up to $5 million.

347
00:13:56,020 --> 00:13:58,798
SBA also provides the 504 loan

348
00:13:58,798 --> 00:14:02,117
program which can give you a capital

349
00:14:02,117 --> 00:14:04,859
for fixed assets up to 5,000,000.

350
00:14:04,860 --> 00:14:08,348
Dollars and that's just a few of the

351
00:14:08,348 --> 00:14:11,017
traditional lending programs that we have,

352
00:14:11,020 --> 00:14:13,660
but also do want to mention,

353
00:14:13,660 --> 00:14:15,826
and I was remiss in mentioning

354
00:14:15,826 --> 00:14:18,021
this around the disaster recovery

355
00:14:18,021 --> 00:14:19,379
funding opportunities.

356
00:14:19,380 --> 00:14:23,079
But if you are working in the spaces of

357
00:14:23,079 --> 00:14:25,978
entertainment or in the performance industry,

358
00:14:25,980 --> 00:14:28,878
we are very proud to have launched

359
00:14:28,878 --> 00:14:31,260
the shuttered venues Grant program,

360
00:14:31,260 --> 00:14:34,340
which will officially open on April 8th,

361
00:14:34,340 --> 00:14:36,590
providing $16.5 billion in federal

362
00:14:36,590 --> 00:14:38,550
Relief to entrepreneurs who are

363
00:14:38,550 --> 00:14:40,180
in the entertainment, production,

364
00:14:40,180 --> 00:14:41,530
acting performance industries.

365
00:14:41,530 --> 00:14:45,237
I encourage again you to take a look at that,

366
00:14:45,240 --> 00:14:47,598
but Hope you asked me about

367
00:14:47,598 --> 00:14:49,170
specifically the SBIR program,

368
00:14:49,170 --> 00:14:51,770
and I think again when we think about

369
00:14:51,770 --> 00:14:54,763
the vast richness of what comes out

370
00:14:54,763 --> 00:14:57,028
of the Small Business Administration.

371
00:14:57,030 --> 00:14:59,558
And I just really want to say 

372
00:14:59,558 --> 00:15:02,310
SBA has so many programs that many

373
00:15:02,310 --> 00:15:05,357
people are not aware of so many

374
00:15:05,357 --> 00:15:08,159
programs that are designed to empower

375
00:15:08,160 --> 00:15:10,410
The nation's most critical businesses,

376
00:15:10,410 --> 00:15:12,660
which are small businesses across

377
00:15:12,660 --> 00:15:13,560
our country,

378
00:15:13,560 --> 00:15:15,855
the small Business Innovation research

379
00:15:15,855 --> 00:15:18,150
and the small business Technology

380
00:15:18,220 --> 00:15:19,956
Transfer program actually provides

381
00:15:19,956 --> 00:15:22,560
nearly 5000 new awards each year,

382
00:15:22,560 --> 00:15:24,348
totaling about $4 billion.

383
00:15:24,348 --> 00:15:28,144
And it is possible for you to apply

384
00:15:28,144 --> 00:15:31,228
for funding through one of these

385
00:15:31,228 --> 00:15:33,832
particular programs by going to and

386
00:15:33,832 --> 00:15:36,518
I know Hope you mention this later

387
00:15:36,518 --> 00:15:39,266
today when you share the resources.

388
00:15:39,270 --> 00:15:41,629
By going to the website to learn

389
00:15:41,629 --> 00:15:44,500
more about how to apply for either

390
00:15:44,500 --> 00:15:46,280
SBIC backed investment companies

391
00:15:46,280 --> 00:15:48,886
for these particular programs to

392
00:15:48,886 --> 00:15:51,616
support startups that are creating

393
00:15:51,616 --> 00:15:53,604
initiatives around new technologies,

394
00:15:53,604 --> 00:15:56,286
new innovation and new technology transfer.

395
00:15:56,290 --> 00:15:59,658
I do just want to also mention really

396
00:15:59,658 --> 00:16:02,297
quickly before I close that things

397
00:16:02,297 --> 00:16:04,871
that have been funded through the

398
00:16:04,953 --> 00:16:07,338
SBIR program include the Sonicare

399
00:16:07,338 --> 00:16:10,034
toothbrush as well as the Roomba.

400
00:16:10,034 --> 00:16:12,466
So if you have ever had that little

401
00:16:12,466 --> 00:16:14,355
vacuum going around your house one

402
00:16:14,355 --> 00:16:16,500
you should be proud to know that

403
00:16:16,500 --> 00:16:18,460
that is a company that was backed

404
00:16:18,460 --> 00:16:20,438
by the hard working folks at the

405
00:16:20,438 --> 00:16:21,287
Small Business Administration.

406
00:16:21,290 --> 00:16:23,274
But two also know that that is a

407
00:16:23,274 --> 00:16:25,156
company that was founded by women

408
00:16:25,156 --> 00:16:26,816
entrepreneurs like the very folks

409
00:16:26,816 --> 00:16:28,955
that we have on the call here today.

410
00:16:28,960 --> 00:16:31,224
So I will close with that and again,

411
00:16:31,230 --> 00:16:34,430
thank you for having me.

412
00:16:34,430 --> 00:16:36,570
Thank you Natalie for that

413
00:16:36,570 --> 00:16:37,426
wonderful information,

414
00:16:37,430 --> 00:16:40,419
so our last panelist is Corrine and

415
00:16:40,420 --> 00:16:43,234
She is the CEO of the Association

416
00:16:43,234 --> 00:16:45,130
of Women's Business Centers,

417
00:16:45,130 --> 00:16:46,315
so Corinne welcome.

418
00:16:46,315 --> 00:16:49,574
Can you also give us a little bit

419
00:16:49,574 --> 00:16:52,040
of an overview of your organization

420
00:16:52,040 --> 00:16:55,201
as well as yourself and then what

421
00:16:55,201 --> 00:16:57,961
kind of assistance do you provide

422
00:16:57,970 --> 00:16:59,882
to women business owners?

423
00:16:59,882 --> 00:17:03,739
Absolutely thank you so much for being here.

424
00:17:03,740 --> 00:17:05,480
At the Association of Women's

425
00:17:05,480 --> 00:17:06,176
Business Centers,

426
00:17:06,180 --> 00:17:08,448
we work directly in support of the

427
00:17:08,448 --> 00:17:10,227
same women's business centers that

428
00:17:10,227 --> 00:17:12,087
Natalie's office serves so well.

429
00:17:12,090 --> 00:17:14,344
And so we're so proud and excited

430
00:17:14,344 --> 00:17:16,269
to be working with Natalie.

431
00:17:16,270 --> 00:17:18,566
As of March 1st and applaud her

432
00:17:18,566 --> 00:17:21,019
work and passion that we've seen

433
00:17:21,019 --> 00:17:22,420
in demonstration already.

434
00:17:22,420 --> 00:17:23,900
The Association of Women's

435
00:17:23,900 --> 00:17:25,380
Business Centers and I,

436
00:17:25,380 --> 00:17:27,816
We work each and every day to

437
00:17:27,816 --> 00:17:29,296
ignite opportunities for women

438
00:17:29,296 --> 00:17:31,865
who want to start and grow their

439
00:17:31,865 --> 00:17:33,812
businesses through the support of

440
00:17:33,812 --> 00:17:36,092
that network of 135 women's business

441
00:17:36,092 --> 00:17:37,584
centers across the country.

442
00:17:37,584 --> 00:17:39,424
And thanks to funding afforded

443
00:17:39,424 --> 00:17:42,105
through the CARES Act in 2020 and the

444
00:17:42,105 --> 00:17:43,873
record expansion of women's business

445
00:17:43,873 --> 00:17:46,098
centers that Natalie just mentioned,

446
00:17:46,100 --> 00:17:48,614
there are more women's business center

447
00:17:48,614 --> 00:17:50,290
resources available in communities

448
00:17:50,352 --> 00:17:52,416
across the country than ever before.

449
00:17:52,420 --> 00:17:54,742
And it's really no coincidence that

450
00:17:54,742 --> 00:17:57,044
women are breaking barriers and making

451
00:17:57,044 --> 00:17:59,114
their dreams come true right here.

452
00:17:59,120 --> 00:18:01,346
Right now during Women's History Month.

453
00:18:01,350 --> 00:18:03,582
And so it's the power of

454
00:18:03,582 --> 00:18:05,070
all of these partners.

455
00:18:05,070 --> 00:18:07,562
SBA, USPTO in the synergy of organizations

456
00:18:07,562 --> 00:18:09,975
on this call today that are behind

457
00:18:09,975 --> 00:18:12,376
each and every one of these women

458
00:18:12,376 --> 00:18:14,944
owned businesses and like wise women's

459
00:18:14,944 --> 00:18:16,686
business centers have resources

460
00:18:16,686 --> 00:18:19,878
to share in that regard and so.

461
00:18:19,880 --> 00:18:23,424
You know, in 2020 we were able to

462
00:18:23,424 --> 00:18:26,633
demonstrate an increase of our impact by

463
00:18:26,633 --> 00:18:29,780
22% over 2019 serving 82,000 plus clients,

464
00:18:29,780 --> 00:18:32,030
70% of whom were women.

465
00:18:32,030 --> 00:18:34,730
So we're not turning anyone away,

466
00:18:34,730 --> 00:18:37,430
but we're definitely focused on women

467
00:18:37,430 --> 00:18:39,230
socially and economically disadvantaged.

468
00:18:39,230 --> 00:18:41,930
56% of our clients were minorities,

469
00:18:41,930 --> 00:18:44,765
you know, and they had a tremendous

470
00:18:44,765 --> 00:18:48,071
impact last year in terms of really

471
00:18:48,071 --> 00:18:50,454
inspiring business starts, we saw.

472
00:18:50,454 --> 00:18:52,639
More than 30,000 business starts

473
00:18:52,639 --> 00:18:54,556
and businesses sustained throughout

474
00:18:54,556 --> 00:18:56,170
this pandemic period,

475
00:18:56,170 --> 00:18:59,626
which was up 30% from 2019.

476
00:18:59,630 --> 00:19:01,645
And women's been the centers

477
00:19:01,645 --> 00:19:02,854
helped women businesses.

478
00:19:02,860 --> 00:19:04,890
Most importantly for the theme

479
00:19:04,890 --> 00:19:07,380
of this panel today leverage more

480
00:19:07,380 --> 00:19:09,330
than $362 million in capital.

481
00:19:09,330 --> 00:19:13,370
And that more than doubled the 2019 figures.

482
00:19:13,370 --> 00:19:14,098
So really,

483
00:19:14,098 --> 00:19:15,554
women's business centers are

484
00:19:15,554 --> 00:19:16,646
a tremendous resource.

485
00:19:16,650 --> 00:19:18,804
It's really just about #1 knowing

486
00:19:18,804 --> 00:19:21,379
that there out there before I joined,

487
00:19:21,380 --> 00:19:23,558
the Association of Women business centers,

488
00:19:23,560 --> 00:19:24,586
I'll be honest,

489
00:19:24,586 --> 00:19:26,638
I didn't even know that this

490
00:19:26,638 --> 00:19:27,570
resource existed,

491
00:19:27,570 --> 00:19:30,104
were sort of a best kept secret.

492
00:19:30,110 --> 00:19:32,420
The program funding and the resources

493
00:19:32,420 --> 00:19:34,856
at the Women's business centers are

494
00:19:34,856 --> 00:19:36,520
directly channeled towards service

495
00:19:36,520 --> 00:19:39,084
delivery and not as much as we

496
00:19:39,084 --> 00:19:41,023
would like to see you in creating

497
00:19:41,030 --> 00:19:42,610
awareness about the program.

498
00:19:42,610 --> 00:19:43,400
So it's

499
00:19:43,400 --> 00:19:45,385
Stage opportunities like this one

500
00:19:45,385 --> 00:19:48,192
here today where we get to really

501
00:19:48,192 --> 00:19:50,072
amplify the message and just

502
00:19:50,072 --> 00:19:52,691
let people know you can go

503
00:19:52,691 --> 00:19:53,637
to our website at awbc.org.

504
00:19:53,640 --> 00:19:55,432
There's a WBC locator and we I

505
00:19:55,432 --> 00:19:57,301
know we provided that link through

506
00:19:57,301 --> 00:19:58,339
the panel resources.

507
00:19:58,340 --> 00:20:00,188
You could also go to SBA.gov

508
00:20:00,190 --> 00:20:02,815
and find this same link

509
00:20:02,815 --> 00:20:05,220
the same access to information.

510
00:20:05,220 --> 00:20:06,279
The fact is,

511
00:20:06,279 --> 00:20:08,397
every single state and Puerto Rico

512
00:20:08,397 --> 00:20:10,519
have women's business centers,

513
00:20:10,520 --> 00:20:12,560
with the exception of Alaska.

514
00:20:12,560 --> 00:20:15,110
So hopefully maybe someday we'll actually

515
00:20:15,110 --> 00:20:18,679
be able to open one up again there soon.

516
00:20:18,680 --> 00:20:19,937
But there's more.

517
00:20:19,937 --> 00:20:21,613
Congress actually directed the

518
00:20:21,613 --> 00:20:23,741
Association of Women's Business Centers

519
00:20:23,741 --> 00:20:26,555
and America's SBDC to launch a website

520
00:20:26,555 --> 00:20:28,187
specifically for small businesses

521
00:20:28,187 --> 00:20:30,917
who are not necessarily even just struggling,

522
00:20:30,920 --> 00:20:33,045
just operating or considering starting

523
00:20:33,045 --> 00:20:35,680
up during this covid pandemic period.

524
00:20:35,680 --> 00:20:37,708
And that website also provided as covid-sb.org

525
00:20:37,708 --> 00:20:40,750
another great place to find local

526
00:20:40,817 --> 00:20:42,199
assistance providers.

527
00:20:42,200 --> 00:20:43,877
And most importantly,

528
00:20:43,877 --> 00:20:46,113
federal agency information that

529
00:20:46,113 --> 00:20:48,170
small businesses can use.

530
00:20:48,170 --> 00:20:50,880
USPTO Department of Labor transportation.

531
00:20:50,880 --> 00:20:54,102
Practically every federal agency has some

532
00:20:54,102 --> 00:20:57,939
sort of small business resource out there,

533
00:20:57,940 --> 00:21:00,600
and they're all being collected

534
00:21:00,600 --> 00:21:03,260
and easily archived and searchable

535
00:21:03,349 --> 00:21:05,689
at that covid-sp.org website.

536
00:21:05,690 --> 00:21:07,986
So it's my goal to really amplify

537
00:21:07,986 --> 00:21:10,046
the message for women's business

538
00:21:10,046 --> 00:21:13,058
centers and help business owners or

539
00:21:13,058 --> 00:21:14,492
aspiring entrepreneurs understand

540
00:21:14,492 --> 00:21:16,977
what happens when they walk in the

541
00:21:16,977 --> 00:21:19,290
door at a women's business center.

542
00:21:19,290 --> 00:21:22,090
Which is, you know, being greeted warmly,

543
00:21:22,090 --> 00:21:24,561
being told that they that their dream

544
00:21:24,561 --> 00:21:26,438
is important and being instilled

545
00:21:26,438 --> 00:21:28,676
with the confidence they need to

546
00:21:28,676 --> 00:21:31,387
take the next step toward counseling

547
00:21:31,387 --> 00:21:33,283
toward education and training.

548
00:21:33,290 --> 00:21:35,960
And then, ideally, access to capital.

549
00:21:35,960 --> 00:21:37,717
So those are the metrics that were

550
00:21:37,717 --> 00:21:39,160
measured by starting that business,

551
00:21:39,160 --> 00:21:39,961
sustaining that business,

552
00:21:39,961 --> 00:21:41,563
and of course access to funding.

553
00:21:41,570 --> 00:21:43,166
So that's critical to our success,

554
00:21:43,170 --> 00:21:44,712
and we know critical to the

555
00:21:44,712 --> 00:21:46,110
message of this panel today.

556
00:21:48,280 --> 00:21:49,504
Thank you Corinne.

557
00:21:49,504 --> 00:21:51,952
So now let's move a little

558
00:21:51,952 --> 00:21:54,841
bit on to how to get educated

559
00:21:54,841 --> 00:21:57,040
on at these different funds.

560
00:21:57,040 --> 00:21:59,110
I know that you broadly

561
00:21:59,110 --> 00:22:01,620
talked about each one of you,

562
00:22:01,620 --> 00:22:03,288
the different things that

563
00:22:03,288 --> 00:22:04,956
your organization works on,

564
00:22:04,960 --> 00:22:07,536
but one of the important things that

565
00:22:07,536 --> 00:22:10,252
I believe that you you touched on

566
00:22:10,252 --> 00:22:12,550
when we were in our organizational

567
00:22:12,625 --> 00:22:15,045
meeting is the importance of

568
00:22:15,045 --> 00:22:16,981
improving financial literacy for

569
00:22:16,981 --> 00:22:19,630
women and others who are starting.

570
00:22:19,630 --> 00:22:22,260
Their businesses.

571
00:22:22,260 --> 00:22:24,168
So are there important steps that

572
00:22:24,168 --> 00:22:26,668
women can take to get educated and

573
00:22:26,668 --> 00:22:28,216
become more financially literate

574
00:22:28,216 --> 00:22:30,439
and based on your experience,

575
00:22:30,440 --> 00:22:32,630
Are there things that are missing

576
00:22:32,630 --> 00:22:34,942
when women are trying to pursue

577
00:22:34,942 --> 00:22:37,288
funding for their business and I'm

578
00:22:37,288 --> 00:22:39,526
actually going to start with Corinne

579
00:22:39,526 --> 00:22:41,596
on this question and then we'll

580
00:22:41,600 --> 00:22:43,838
move to our other panelists so.

581
00:22:45,920 --> 00:22:47,942
Well, I'm probably gonna sound much

582
00:22:47,942 --> 00:22:49,924
like a broken record, you know,

583
00:22:49,924 --> 00:22:52,143
because step number one is finding the

584
00:22:52,143 --> 00:22:54,273
Women's business center and finding your

585
00:22:54,273 --> 00:22:56,370
partner finding your your fan club

586
00:22:56,370 --> 00:22:58,380
If you will, and the person

587
00:22:58,380 --> 00:23:00,070
who's willing to tell you,

588
00:23:00,070 --> 00:23:02,098
here's where your weak points are.

589
00:23:02,100 --> 00:23:04,459
Here's where you could use some training.

590
00:23:04,460 --> 00:23:06,805
There's really no single nugget of advice

591
00:23:06,805 --> 00:23:09,497
that's going to be the right answer for

592
00:23:09,497 --> 00:23:11,530
every single business owner out there.

593
00:23:11,530 --> 00:23:13,552
We all come to the table

594
00:23:13,552 --> 00:23:14,563
with different skills,

595
00:23:14,570 --> 00:23:15,959
different financial acumen.

596
00:23:15,959 --> 00:23:17,811
And a different understanding

597
00:23:17,811 --> 00:23:20,148
about how finances really such an

598
00:23:20,148 --> 00:23:22,199
important lens that we can use to

599
00:23:22,260 --> 00:23:24,353
plan for to judge and to determine

600
00:23:24,353 --> 00:23:25,956
the success of our business.

601
00:23:25,956 --> 00:23:28,427
And so sometimes it might be hey,

602
00:23:28,430 --> 00:23:30,820
we need to start back.

603
00:23:30,820 --> 00:23:31,546
Much earlier,

604
00:23:31,546 --> 00:23:34,087
kind of in the financial education pipeline.

605
00:23:34,090 --> 00:23:36,046
We might need to understand what

606
00:23:36,046 --> 00:23:38,777
a balance sheet is and how we can

607
00:23:38,777 --> 00:23:40,472
actually manipulate the outcome of

608
00:23:40,472 --> 00:23:42,520
the business by changing different

609
00:23:42,520 --> 00:23:44,980
things about the business and how

610
00:23:44,980 --> 00:23:47,158
that translates to the balance sheet,

611
00:23:47,160 --> 00:23:47,489
etc.

612
00:23:47,489 --> 00:23:50,121
And so you know one of the critical

613
00:23:50,121 --> 00:23:52,349
outcomes of really perfect financial

614
00:23:52,349 --> 00:23:54,634
literacy education is knowing which

615
00:23:54,634 --> 00:23:57,182
kind of capital is going to be the

616
00:23:57,182 --> 00:23:59,546
right kind of capital for your business,

617
00:23:59,546 --> 00:24:01,790
not to mention making sound financial.

618
00:24:01,790 --> 00:24:03,290
Decisions in every other area,

619
00:24:03,290 --> 00:24:03,890
how much,

620
00:24:03,890 --> 00:24:05,990
how many expenses can you really tolerate?

621
00:24:05,990 --> 00:24:08,390
How much revenue do you need to earn?

622
00:24:08,390 --> 00:24:10,147
How much money should I be taking

623
00:24:10,147 --> 00:24:11,989
out of the business's income?

624
00:24:11,990 --> 00:24:14,390
How much can I afford to pay employees?

625
00:24:14,390 --> 00:24:16,490
What should I charge for my product

626
00:24:16,490 --> 00:24:17,390
for my services?

627
00:24:17,390 --> 00:24:17,990
So really,

628
00:24:17,990 --> 00:24:19,190
that financial literacy component,

629
00:24:19,190 --> 00:24:21,110
it's pretty much important in every

630
00:24:21,110 --> 00:24:23,022
aspect of the business and it's

631
00:24:23,022 --> 00:24:24,744
really finding where are you weak

632
00:24:24,744 --> 00:24:27,060
and where can you sort of enter into

633
00:24:27,060 --> 00:24:28,790
that education stream at a point

634
00:24:28,790 --> 00:24:30,890
where you don't have to waste time.

635
00:24:30,890 --> 00:24:33,165
That's really the single thing we hear

636
00:24:33,165 --> 00:24:35,039
from small business owners is yeah.

637
00:24:35,040 --> 00:24:37,440
I left this skill. I need this training.

638
00:24:37,440 --> 00:24:39,840
I need better acument in this financial area,

639
00:24:39,840 --> 00:24:42,240
but I don't have time to go take,

640
00:24:42,240 --> 00:24:42,834
you know,

641
00:24:42,834 --> 00:24:44,616
an accounting course or understand all

642
00:24:44,616 --> 00:24:47,036
all that there is to know about accounting.

643
00:24:47,040 --> 00:24:49,016
I just need to know this one specific

644
00:24:49,016 --> 00:24:50,622
thing and that's where women's

645
00:24:50,622 --> 00:24:52,382
business center kind of understands

646
00:24:52,382 --> 00:24:54,301
that small business need it can

647
00:24:54,301 --> 00:24:56,035
provide just the dose of education

648
00:24:56,040 --> 00:24:59,350
that that small business needs.

649
00:24:59,350 --> 00:25:01,702
Thanks Corinne and so Elizabeth do you

650
00:25:01,702 --> 00:25:03,610
have anything to add to that?

651
00:25:06,330 --> 00:25:08,375
Definitely, so I think understanding

652
00:25:08,375 --> 00:25:10,011
your different financing options

653
00:25:10,011 --> 00:25:11,634
is really, really important,

654
00:25:11,634 --> 00:25:14,650
and one way you can also go about

655
00:25:14,724 --> 00:25:17,720
that is to talk to other entrepreneurs

656
00:25:17,720 --> 00:25:20,349
in your communities and learn about

657
00:25:20,349 --> 00:25:22,875
their experiences and how they went

658
00:25:22,875 --> 00:25:24,876
about their own financing journeys.

659
00:25:24,876 --> 00:25:27,240
We also run a nonprofit called

660
00:25:27,310 --> 00:25:28,690
the Sogal Foundation.

661
00:25:28,690 --> 00:25:30,922
We have 50 hyper local chapters

662
00:25:30,922 --> 00:25:33,474
across 22 countries on six different

663
00:25:33,474 --> 00:25:35,939
continents and these bring together.

664
00:25:35,940 --> 00:25:37,644
Women, entrepreneurs and investors

665
00:25:37,644 --> 00:25:39,348
in these local communities.

666
00:25:39,350 --> 00:25:43,406
So you can find your tribe.

667
00:25:43,410 --> 00:25:46,162
You know having that fan Club and also

668
00:25:46,162 --> 00:25:48,533
peer support group as a business owner

669
00:25:48,533 --> 00:25:51,597
is so so important and being able to

670
00:25:51,597 --> 00:25:53,887
utilize your network to understand

671
00:25:53,887 --> 00:25:55,570
different financing opportunities and

672
00:25:55,570 --> 00:25:57,850
mechanisms is really important as well.

673
00:25:57,850 --> 00:26:00,890
So if you want to see if there's a so

674
00:26:00,972 --> 00:26:03,930
Cal chapter in your local community,

675
00:26:03,930 --> 00:26:05,830
you can look at iamsogal.com.

676
00:26:05,830 --> 00:26:08,350
We also have the opportunity to start

677
00:26:08,350 --> 00:26:10,768
so girl chapters in new communities,

678
00:26:10,770 --> 00:26:13,194
so if you're interested in doing

679
00:26:13,194 --> 00:26:15,440
that we provide financial support.

680
00:26:15,440 --> 00:26:16,904
To create, you know,

681
00:26:16,904 --> 00:26:18,734
a network of women entrepreneurs

682
00:26:18,734 --> 00:26:20,974
in your own local community and

683
00:26:20,974 --> 00:26:23,170
we'd welcome folks on this call.

684
00:26:23,170 --> 00:26:25,739
If you don't see your city represented,

685
00:26:25,740 --> 00:26:28,372
please apply to be a chapter lead and

686
00:26:28,372 --> 00:26:31,234
we're happy to support you and give you

687
00:26:31,234 --> 00:26:33,546
resources in your journey of building

688
00:26:33,546 --> 00:26:36,416
that local tribe of women business leaders.

689
00:26:36,420 --> 00:26:38,418
I think there's tons of resources

690
00:26:38,418 --> 00:26:40,241
online to learn about venture

691
00:26:40,241 --> 00:26:41,937
capital in Angel investing.

692
00:26:41,940 --> 00:26:42,672
We actually,

693
00:26:42,672 --> 00:26:44,136
as a non profit,

694
00:26:44,140 --> 00:26:45,804
also train Angel investors

695
00:26:45,804 --> 00:26:48,300
Through a program called Fempire so

696
00:26:48,373 --> 00:26:51,012
that we can get more Angel investors

697
00:26:51,012 --> 00:26:53,399
investing into their local communities,

698
00:26:53,400 --> 00:26:55,950
because that's really important as well,

699
00:26:55,950 --> 00:26:58,876
and I think some of the resources

700
00:26:58,876 --> 00:27:01,488
actually around being trained as an

701
00:27:01,488 --> 00:27:04,470
investor also help you as an entrepreneur,

702
00:27:04,470 --> 00:27:06,912
think about how potential investors are

703
00:27:06,912 --> 00:27:09,160
looking at evaluating your business.

704
00:27:09,160 --> 00:27:11,866
There are certain metrics in different

705
00:27:11,866 --> 00:27:14,139
things that investors like myself

706
00:27:14,139 --> 00:27:16,515
as a venture capitalist look for

707
00:27:16,520 --> 00:27:18,375
When we're determining which businesses

708
00:27:18,375 --> 00:27:21,419
to invest in in or not and sort of

709
00:27:21,419 --> 00:27:23,616
seeing the other side of the table

710
00:27:23,616 --> 00:27:25,821
an understanding these things that

711
00:27:25,821 --> 00:27:27,931
range from financial metrics to

712
00:27:27,931 --> 00:27:29,977
sort of investor terms and legal

713
00:27:29,977 --> 00:27:31,650
terminology are really important,

714
00:27:31,650 --> 00:27:33,492
as you're going on your financing

715
00:27:33,492 --> 00:27:36,481
journey so you can be having the right

716
00:27:36,481 --> 00:27:38,181
conversations and also understanding

717
00:27:38,181 --> 00:27:40,508
those different levers of your business.

718
00:27:40,510 --> 00:27:43,037
So Luckily there's so many resources out

719
00:27:43,037 --> 00:27:46,527
there an I think finding sort of your tribe.

720
00:27:46,530 --> 00:27:48,695
Of individuals in your local

721
00:27:48,695 --> 00:27:50,860
community which the Women's Business

722
00:27:50,935 --> 00:27:52,670
Center is also sound like.

723
00:27:52,670 --> 00:27:55,246
An excellent resource to do so is

724
00:27:55,246 --> 00:27:57,335
really important in helping determine

725
00:27:57,335 --> 00:27:59,615
the right type of financing.

726
00:27:59,620 --> 00:28:02,796
And I do want to say usually from

727
00:28:02,796 --> 00:28:05,338
the businesses I've seen and funded,

728
00:28:05,340 --> 00:28:07,320
is people utilized multiple different

729
00:28:07,320 --> 00:28:09,840
types of financing for their success.

730
00:28:09,840 --> 00:28:12,696
One company in our portfolio is cancer

731
00:28:12,696 --> 00:28:14,816
immunology for animals biotech company

732
00:28:14,816 --> 00:28:17,276
and they've been able to utilize.

733
00:28:17,280 --> 00:28:18,820
Everything from tax credits.

734
00:28:18,820 --> 00:28:21,584
You know NIH grants and loan loans

735
00:28:21,584 --> 00:28:23,520
from banks, venture capital financing,

736
00:28:23,520 --> 00:28:24,300
Angel financing,

737
00:28:24,300 --> 00:28:25,860
self funding and bootstrapping

738
00:28:25,860 --> 00:28:27,420
at their very beginnings.

739
00:28:27,420 --> 00:28:29,760
So as you are an entrepreneur,

740
00:28:29,760 --> 00:28:31,320
you'll probably utilized multiple

741
00:28:31,320 --> 00:28:32,880
different types of financing,

742
00:28:32,880 --> 00:28:34,512
especially as you grow.

743
00:28:34,512 --> 00:28:36,960
So learning about all these resources

744
00:28:37,032 --> 00:28:39,510
is an important step of your journey,

745
00:28:39,510 --> 00:28:42,240
because although one may not be right

746
00:28:42,240 --> 00:28:45,750
for you today, perhaps in a year or two,

747
00:28:45,750 --> 00:28:48,473
it is the right type of financing

748
00:28:48,473 --> 00:28:50,529
for you to go after.

749
00:28:50,530 --> 00:28:53,718
As a business owner.

750
00:28:53,720 --> 00:28:55,568
Alright, thank you Elizabeth and I'm

751
00:28:55,568 --> 00:28:58,202
gonna move to Ruth to talk a little bit

752
00:28:58,202 --> 00:29:00,317
about the crowd funding and how that

753
00:29:00,317 --> 00:29:02,459
has been particularly impactful for women.

754
00:29:02,460 --> 00:29:05,070
We also do have a question that has come

755
00:29:05,070 --> 00:29:08,066
in and so just a reminder to our audience.

756
00:29:08,070 --> 00:29:10,142
If you do have a question please

757
00:29:10,142 --> 00:29:12,682
feel free to send it to the email

758
00:29:12,682 --> 00:29:14,950
box that Sean had mentioned at the

759
00:29:14,950 --> 00:29:17,113
beginning of the program and we will

760
00:29:17,113 --> 00:29:19,296
try to weave it into our program.

761
00:29:19,300 --> 00:29:19,962
So Ruth,

762
00:29:19,962 --> 00:29:21,948
if you don't mind answering this

763
00:29:21,948 --> 00:29:23,179
question or you can.

764
00:29:23,180 --> 00:29:25,820
Send it to Natalie if you would like,

765
00:29:25,820 --> 00:29:28,067
but when she connects on this the

766
00:29:28,067 --> 00:29:30,326
question is do I need a business

767
00:29:30,326 --> 00:29:32,168
plan when I look for funding

768
00:29:32,242 --> 00:29:34,324
opportunities and so if you can

769
00:29:34,324 --> 00:29:36,380
address that as well as crowd

770
00:29:36,380 --> 00:29:38,030
funding that would be fantastic,

771
00:29:38,030 --> 00:29:38,360
thanks.

772
00:29:40,600 --> 00:29:42,344
So that you know there's a saying if

773
00:29:42,344 --> 00:29:44,632
you fail to plan, you plan to fail.

774
00:29:44,632 --> 00:29:47,299
And that nothing that is the the

775
00:29:47,299 --> 00:29:49,614
absolute perfect statement to that

776
00:29:49,614 --> 00:29:52,260
applies to running a business.

777
00:29:52,260 --> 00:29:55,590
And it's not just what you would think of

778
00:29:55,590 --> 00:29:59,350
as a traditional business plan, there is

779
00:29:59,350 --> 00:30:03,110
Planning say a time like use of proceeds.

780
00:30:03,110 --> 00:30:05,258
After you get the funding right,

781
00:30:05,260 --> 00:30:07,402
how are you actually going to

782
00:30:07,402 --> 00:30:08,473
spend this money?

783
00:30:08,480 --> 00:30:11,609
Do you have a customer acquisition plan?

784
00:30:11,610 --> 00:30:12,693
That's another plan,

785
00:30:12,693 --> 00:30:15,220
so there's lots of pieces to this

786
00:30:15,291 --> 00:30:17,499
bigger word of the business plan,

787
00:30:17,500 --> 00:30:20,148
and you can kind of create those plans

788
00:30:20,148 --> 00:30:22,535
in small little chunks so you don't

789
00:30:22,535 --> 00:30:25,165
have to look at this whole thing

790
00:30:25,165 --> 00:30:27,425
as is overwhelming business plan.

791
00:30:27,430 --> 00:30:30,300
And you can create this plan in

792
00:30:30,300 --> 00:30:33,300
anything that you feel comfortable in.

793
00:30:33,300 --> 00:30:36,340
You know, back in the day and I'm

794
00:30:36,340 --> 00:30:37,460
talking like the .com day,

795
00:30:37,460 --> 00:30:39,350
people would have to write,

796
00:30:39,350 --> 00:30:41,654
you know 100 page business plan

797
00:30:41,654 --> 00:30:44,149
and it became this really big

798
00:30:44,149 --> 00:30:46,777
project that they would just spend

799
00:30:46,777 --> 00:30:49,119
an enormous amount of time on.

800
00:30:49,120 --> 00:30:49,649
And

801
00:30:49,649 --> 00:30:52,823
When you actually ask them the

802
00:30:52,823 --> 00:30:55,389
specific questions about that plan,

803
00:30:55,390 --> 00:30:57,928
they had no idea they could

804
00:30:57,928 --> 00:30:59,620
not answer that plan.

805
00:30:59,620 --> 00:31:01,735
So it's not just about

806
00:31:01,735 --> 00:31:03,427
this formal business plan,

807
00:31:03,430 --> 00:31:05,698
it's really more about you owning

808
00:31:05,698 --> 00:31:08,240
a plan of action and understanding

809
00:31:08,240 --> 00:31:10,615
the timeline of that plan,

810
00:31:10,620 --> 00:31:12,820
and understanding how that plan

811
00:31:12,820 --> 00:31:15,490
applies to the money that you

812
00:31:15,490 --> 00:31:17,806
will need to execute that plan,

813
00:31:17,810 --> 00:31:20,848
and how the money will come in.

814
00:31:20,850 --> 00:31:22,650
And when the money comes in,

815
00:31:22,650 --> 00:31:24,150
what you'll do with it?

816
00:31:24,150 --> 00:31:26,550
So you really absolutely 1000% need a plan.

817
00:31:28,630 --> 00:31:29,160
Yeah.

818
00:31:31,530 --> 00:31:34,786
And then do you want me to speak

819
00:31:34,786 --> 00:31:39,538
about the other? Yes, yes. So.

820
00:31:39,540 --> 00:31:41,930
When comes to equity crowdfunding.

821
00:31:41,930 --> 00:31:44,498
There is a bunch of terminology

822
00:31:44,498 --> 00:31:48,130
that is new to the financial world.

823
00:31:48,130 --> 00:31:50,986
In fact, the word funding portal,

824
00:31:50,990 --> 00:31:54,798
which is the platform that you go to,

825
00:31:54,800 --> 00:31:57,632
was not a legal word or

826
00:31:57,632 --> 00:32:00,050
entity until the JOBS Act.

827
00:32:00,050 --> 00:32:03,518
It was coined the funding portal.

828
00:32:03,520 --> 00:32:05,120
And on the funding portal,

829
00:32:05,120 --> 00:32:07,028
lots of funding portals have glossary's

830
00:32:07,028 --> 00:32:09,629
where you can find a lot of terminology

831
00:32:09,629 --> 00:32:11,537
about financing and I would recommend

832
00:32:11,593 --> 00:32:13,777
that we come from failure with that

833
00:32:13,777 --> 00:32:16,172
terminology because a lot of it's

834
00:32:16,172 --> 00:32:19,076
applicable to every kind of funding.

835
00:32:19,080 --> 00:32:20,118
In equity crowdfunding,

836
00:32:20,118 --> 00:32:22,194
in certain types of equity crowdfunding

837
00:32:22,194 --> 00:32:24,560
you may need audited financial statements,

838
00:32:24,560 --> 00:32:27,227
so obviously you would have to have

839
00:32:27,227 --> 00:32:29,670
an accountant do that for you,

840
00:32:29,670 --> 00:32:32,798
but it would be important for you to

841
00:32:32,798 --> 00:32:35,435
understand what that means so that you

842
00:32:35,435 --> 00:32:38,788
get the right accountant to do that with you,

843
00:32:38,790 --> 00:32:41,370
and I'm sure the.

844
00:32:41,370 --> 00:32:44,538
The agencies that you all represent

845
00:32:44,538 --> 00:32:48,290
understand how to help somebody do that.

846
00:32:48,290 --> 00:32:52,019
There is obviously.

847
00:32:52,020 --> 00:32:54,090
You have to understand the valuation.

848
00:32:54,090 --> 00:32:55,125
That's another terminology

849
00:32:55,125 --> 00:32:56,160
of financial terminology,

850
00:32:56,160 --> 00:32:57,252
so understanding valuation.

851
00:32:57,252 --> 00:32:59,072
'cause if you're going to

852
00:32:59,072 --> 00:33:00,650
sell equity to the public,

853
00:33:00,650 --> 00:33:02,932
you have to decide how much equity

854
00:33:02,932 --> 00:33:05,682
you want to sell and then you have

855
00:33:05,682 --> 00:33:08,163
to determine the value of that equity

856
00:33:08,163 --> 00:33:10,995
and you have to have the due diligence

857
00:33:11,000 --> 00:33:13,640
behind that and you have to be able

858
00:33:13,640 --> 00:33:16,065
to quantify that and you have to

859
00:33:16,065 --> 00:33:18,182
be able most importantly to defend

860
00:33:18,182 --> 00:33:20,646
it because you can't just go out

861
00:33:20,646 --> 00:33:23,042
there with some you know inflated.

862
00:33:23,042 --> 00:33:25,157
Valuation and think the public's

863
00:33:25,157 --> 00:33:26,810
going to buy into that.

864
00:33:26,810 --> 00:33:28,214
So there there is,

865
00:33:28,214 --> 00:33:28,916
you know,

866
00:33:28,920 --> 00:33:30,505
a certain amount of financial

867
00:33:30,505 --> 00:33:32,552
terminology that I think is important

868
00:33:32,552 --> 00:33:34,547
not just for equity crowdfunding,

869
00:33:34,550 --> 00:33:37,366
but long into the future of your business.

870
00:33:37,370 --> 00:33:39,827
Because at the end of the day,

871
00:33:39,830 --> 00:33:42,134
your business is going to continuously

872
00:33:42,134 --> 00:33:44,102
be bringing in revenue and

873
00:33:44,102 --> 00:33:46,256
scaling and maybe going back for

874
00:33:46,256 --> 00:33:48,159
additional rounds of funding and.

875
00:33:48,160 --> 00:33:49,316
And, like Elizabeth said,

876
00:33:49,316 --> 00:33:51,451
you know they'll be a whole variety

877
00:33:51,451 --> 00:33:53,509
of types of funding and they'll

878
00:33:53,509 --> 00:33:55,062
be financial terminology that you

879
00:33:55,062 --> 00:33:56,707
will have to be familiar with to

880
00:33:56,707 --> 00:33:59,008
be able to understand what that you

881
00:33:59,008 --> 00:34:01,598
know what it is you're doing so.

882
00:34:01,600 --> 00:34:03,478
I hope that answers your question.

883
00:34:03,480 --> 00:34:04,072
Thanks, Ruth.

884
00:34:04,072 --> 00:34:06,144
Alright so now I'm going to turn

885
00:34:06,144 --> 00:34:08,882
it over to Natalie to ask the same

886
00:34:08,882 --> 00:34:10,252
question about financial literacy

887
00:34:10,252 --> 00:34:12,572
and if you want to weigh in on

888
00:34:12,572 --> 00:34:13,172
business plans.

889
00:34:13,172 --> 00:34:14,682
But there's also another question

890
00:34:14,682 --> 00:34:16,757
that I feel like is important that

891
00:34:16,757 --> 00:34:18,647
has also come in and the question

892
00:34:18,706 --> 00:34:20,836
is there support for building a

893
00:34:20,836 --> 00:34:22,256
business without getting financing?

894
00:34:22,260 --> 00:34:23,825
Or organizations that teach growing

895
00:34:23,825 --> 00:34:25,077
without going into debt?

896
00:34:25,080 --> 00:34:27,576
And so I think that's a great question,

897
00:34:27,580 --> 00:34:29,145
especially since you know when

898
00:34:29,145 --> 00:34:30,397
you build a business.

899
00:34:30,400 --> 00:34:33,160
The last thing you want to do is to get

900
00:34:33,237 --> 00:34:35,785
into too much debt when you're just.

901
00:34:35,790 --> 00:34:36,720
Starting right off,

902
00:34:36,720 --> 00:34:38,890
so do you have anything to add

903
00:34:38,954 --> 00:34:41,362
to that? And then I'll open it up to any

904
00:34:41,362 --> 00:34:44,424
of the other panelists who want to add to

905
00:34:44,424 --> 00:34:46,767
that specific question as well so Natalie,

906
00:34:46,770 --> 00:34:48,600
can you repeat that last question?

907
00:34:48,600 --> 00:34:51,345
I just want to make sure I fully digest it.

908
00:34:51,350 --> 00:34:54,100
So is there a place that you can go to seek

909
00:34:54,100 --> 00:34:56,438
support for your business where you don't

910
00:34:56,438 --> 00:34:59,275
have to assume debt for that support? Yes,

911
00:34:59,275 --> 00:35:01,715
so that's the first part of the question,

912
00:35:01,720 --> 00:35:03,760
and the second part of the question is

913
00:35:03,760 --> 00:35:06,179
there an organization that teaches growing?

914
00:35:06,180 --> 00:35:08,429
But without going into debt, got it OK,

915
00:35:08,429 --> 00:35:10,528
so I'll try to answer all of the

916
00:35:10,528 --> 00:35:12,880
questions as best I can without repeating

917
00:35:12,880 --> 00:35:15,298
too much of what I've already heard,

918
00:35:15,300 --> 00:35:17,796
because I think the panelists have done such

919
00:35:17,796 --> 00:35:20,158
a fantastic job of covering so many bases.

920
00:35:20,160 --> 00:35:22,392
The only thing that I'll add to what

921
00:35:22,392 --> 00:35:24,300
you've already heard of those two

922
00:35:24,300 --> 00:35:26,238
things as released a financial literacy.

923
00:35:26,240 --> 00:35:28,016
One thing that I always say is the

924
00:35:28,016 --> 00:35:30,154
way in which you manage your personal

925
00:35:30,154 --> 00:35:32,212
finances is indicative of how you're

926
00:35:32,212 --> 00:35:34,444
going to manage your business's finances.

927
00:35:34,450 --> 00:35:36,698
And I also find that people are very

928
00:35:36,698 --> 00:35:38,699
intrigued by the concept of running

929
00:35:38,699 --> 00:35:40,763
a multi $1,000,000 business or having

930
00:35:40,828 --> 00:35:43,338
$1,000,000. But if you can manage $1000,

931
00:35:43,340 --> 00:35:44,592
you can manage $1,000,000.

932
00:35:44,592 --> 00:35:46,793
If you can manage $1,000,000 you can

933
00:35:46,793 --> 00:35:48,683
manage $2,000,000 and part of this is

934
00:35:48,683 --> 00:35:50,658
about the growth process of learning

935
00:35:50,658 --> 00:35:52,378
how you personally manage finances

936
00:35:52,378 --> 00:35:54,590
and how you personally manage just the

937
00:35:54,590 --> 00:35:56,799
resources that you have available to you.

938
00:35:56,800 --> 00:35:58,732
You can blow $1000 just as easily

939
00:35:58,732 --> 00:36:00,549
as someone can blow $1,000,000.

940
00:36:00,550 --> 00:36:02,428
It will feel just the same.

941
00:36:02,430 --> 00:36:04,758
So I think just being mindful of that

942
00:36:04,758 --> 00:36:07,224
and then the second thing I will say

943
00:36:07,224 --> 00:36:09,238
is social capital is something that

944
00:36:09,238 --> 00:36:11,793
we haven't really talked a lot about.

945
00:36:11,800 --> 00:36:13,738
As it relates to financial capitals,

946
00:36:13,740 --> 00:36:16,316
so so much of the Angel investment community,

947
00:36:16,320 --> 00:36:17,935
the venture capital community is

948
00:36:17,935 --> 00:36:19,550
so predicated off of relationships.

949
00:36:19,550 --> 00:36:22,457
Who do you know who can vouch for you?

950
00:36:22,460 --> 00:36:24,989
Who is going to pick up the call to

951
00:36:24,989 --> 00:36:27,300
say that they know this person,

952
00:36:27,300 --> 00:36:28,592
that you have credibility?

953
00:36:28,592 --> 00:36:29,884
That is social capital.

954
00:36:29,890 --> 00:36:32,610
Even the ability for you to develop a

955
00:36:32,610 --> 00:36:34,179
crowdfunding campaign and ask people

956
00:36:34,179 --> 00:36:36,517
to do something on your behalf is an

957
00:36:36,517 --> 00:36:38,217
intern utilizing your social capital

958
00:36:38,217 --> 00:36:40,336
for the benefit and upliftment of

959
00:36:40,336 --> 00:36:42,604
your business and social capital is.

960
00:36:42,610 --> 00:36:45,396
The ability for you to take your

961
00:36:45,396 --> 00:36:47,402
social relationships and turn them

962
00:36:47,402 --> 00:36:49,247
into some form of economic.

963
00:36:49,250 --> 00:36:50,258
Opportunity or gain,

964
00:36:50,258 --> 00:36:51,938
and that only happens through

965
00:36:51,938 --> 00:36:53,740
trust and through reputation.

966
00:36:53,740 --> 00:36:56,863
So just as important as your credit score is

967
00:36:56,863 --> 00:37:00,097
in terms of how you manage your finances,

968
00:37:00,100 --> 00:37:02,620
so is your social capital score in terms

969
00:37:02,620 --> 00:37:05,330
of how you manage your relationships.

970
00:37:05,330 --> 00:37:08,282
So I will just add those as two

971
00:37:08,282 --> 00:37:10,219
additional components to the financial

972
00:37:10,219 --> 00:37:12,851
literacy piece as it relates to where

973
00:37:12,922 --> 00:37:15,428
you can go to support your business.

974
00:37:15,430 --> 00:37:17,698
So I think Corinne will smile

975
00:37:17,698 --> 00:37:19,620
when she hears me say.

976
00:37:19,620 --> 00:37:22,720
The women's business centers.

977
00:37:22,720 --> 00:37:24,460
She has so eloquently talked

978
00:37:24,460 --> 00:37:26,200
about the rich vastness of

979
00:37:26,271 --> 00:37:28,359
of how the Women's Business Center

980
00:37:28,359 --> 00:37:30,745
network again in 135 cities across

981
00:37:30,745 --> 00:37:33,055
this country is supporting thousands

982
00:37:33,055 --> 00:37:35,232
of women entrepreneurs and doing

983
00:37:35,232 --> 00:37:38,360
so for free and so many of many,

984
00:37:38,360 --> 00:37:40,936
many times and for many programs these

985
00:37:40,936 --> 00:37:43,770
are come as you are walking into the

986
00:37:43,770 --> 00:37:47,367
centre or join us on line in this kind

987
00:37:47,367 --> 00:37:49,697
of circumstance and receive assistance.

988
00:37:49,700 --> 00:37:51,735
There are very very very

989
00:37:51,735 --> 00:37:53,363
few programs that you.

990
00:37:53,370 --> 00:37:55,834
And possibly have to pay for it.

991
00:37:55,840 --> 00:37:58,160
I also would say that the SBA has

992
00:37:58,160 --> 00:38:00,430
a program called emerging leaders,

993
00:38:00,430 --> 00:38:03,062
which is also a free resource for those

994
00:38:03,062 --> 00:38:05,938
who are in the 250,000 or above mark

995
00:38:05,938 --> 00:38:09,228
that are interested in being a part of a

996
00:38:09,228 --> 00:38:11,372
cohort going through a structured program.

997
00:38:11,372 --> 00:38:12,780
The application process for

998
00:38:12,780 --> 00:38:13,836
that particular program,

999
00:38:13,840 --> 00:38:15,256
which again is free,

1000
00:38:15,256 --> 00:38:16,318
is March 31st.

1001
00:38:16,320 --> 00:38:19,074
So I encourage you to go again to sba.gov

1002
00:38:19,074 --> 00:38:21,967
to learn more about emerging leaders to

1003
00:38:21,967 --> 00:38:24,758
find a women's business center in your.

1004
00:38:24,760 --> 00:38:26,240
Community now you know financing.

1005
00:38:26,240 --> 00:38:28,305
If so, there was the first question,

1006
00:38:28,310 --> 00:38:30,473
and then there's kind of like my

1007
00:38:30,473 --> 00:38:31,860
interpretation of what I feel.

1008
00:38:31,860 --> 00:38:33,340
This person is probably asking,

1009
00:38:33,340 --> 00:38:35,756
which is how can I get funded without

1010
00:38:35,756 --> 00:38:37,778
ever having to pay the funds back.

1011
00:38:37,780 --> 00:38:40,910
So I will just say, you know?

1012
00:38:40,910 --> 00:38:42,810
A couple of things one.

1013
00:38:42,810 --> 00:38:45,309
I think starting a business with the

1014
00:38:45,309 --> 00:38:47,639
idea that you're going to receive

1015
00:38:47,639 --> 00:38:50,021
grants is probably not the most

1016
00:38:50,021 --> 00:38:52,306
fortuitous way of creating a business.

1017
00:38:52,310 --> 00:38:54,822
I think that you want to always be

1018
00:38:54,822 --> 00:38:57,249
thinking about your monetization strategy.

1019
00:38:57,250 --> 00:39:00,290
How do you actually plan to make money?

1020
00:39:00,290 --> 00:39:02,747
And so having an initial business grant

1021
00:39:02,747 --> 00:39:05,989
if that is something that exists for you?

1022
00:39:05,990 --> 00:39:07,510
Many philanthropic private sector

1023
00:39:07,510 --> 00:39:08,650
organizations provide them.

1024
00:39:08,650 --> 00:39:11,436
There are no kind of direct business.

1025
00:39:11,440 --> 00:39:13,250
Grants for a startup circumstance

1026
00:39:13,250 --> 00:39:16,240
that I'm aware of that the Small

1027
00:39:16,240 --> 00:39:17,908
Business Administration provides,

1028
00:39:17,910 --> 00:39:20,490
but you may find something right,

1029
00:39:20,490 --> 00:39:23,024
but that can't just be the basis

1030
00:39:23,024 --> 00:39:26,263
for how your business is going to

1031
00:39:26,263 --> 00:39:28,174
succeed into perpetuity, right?

1032
00:39:28,174 --> 00:39:31,006
So you need to develop and hone how

1033
00:39:31,006 --> 00:39:33,895
you plan to actually make money from

1034
00:39:33,895 --> 00:39:37,182
your business and to sustain it through

1035
00:39:37,182 --> 00:39:40,320
revenue through sales and through service,

1036
00:39:40,320 --> 00:39:41,373
and that is.

1037
00:39:41,373 --> 00:39:43,479
Important at every phase of your

1038
00:39:43,479 --> 00:39:45,271
business endeavors and at every

1039
00:39:45,271 --> 00:39:47,335
phase of its scale and growth.

1040
00:39:47,340 --> 00:39:49,475
And I honestly feel to the question

1041
00:39:49,475 --> 00:39:51,309
about having a business plan.

1042
00:39:51,310 --> 00:39:52,945
This is something that you

1043
00:39:52,945 --> 00:39:54,950
should be looking at every year.

1044
00:39:54,950 --> 00:39:57,794
How can I improve the way in which I'm

1045
00:39:57,794 --> 00:40:00,326
spending my money and improve the access?

1046
00:40:00,330 --> 00:40:02,544
But I have to receiving additional

1047
00:40:02,544 --> 00:40:04,474
funds through services and through

1048
00:40:04,474 --> 00:40:06,808
revenue through sales for my company.

1049
00:40:06,810 --> 00:40:09,858
So that would probably be my best answer.

1050
00:40:09,860 --> 00:40:13,052
I'm sure that's not the answer

1051
00:40:13,052 --> 00:40:15,690
the person was looking for.

1052
00:40:15,690 --> 00:40:18,453
But I don't know about a a pot of

1053
00:40:18,453 --> 00:40:20,867
gold that sits under a bridge,

1054
00:40:20,870 --> 00:40:23,442
but I would just say, you know.

1055
00:40:23,442 --> 00:40:26,424
To think if you're thinking about that,

1056
00:40:26,430 --> 00:40:28,212
the energy that you have there

1057
00:40:28,212 --> 00:40:30,123
put that into thinking about how

1058
00:40:30,123 --> 00:40:31,768
you can monetize your business.

1059
00:40:31,770 --> 00:40:34,506
And I think that that will

1060
00:40:34,506 --> 00:40:36,330
actually position you better

1061
00:40:36,413 --> 00:40:37,737
in the long run.

1062
00:40:37,740 --> 00:40:39,204
Alright, thank you Natalie.

1063
00:40:39,204 --> 00:40:41,034
So Corrine Elizabeth And Ruth

1064
00:40:41,040 --> 00:40:43,742
Do you have anything to add to

1065
00:40:43,742 --> 00:40:45,719
that specific question and then

1066
00:40:45,719 --> 00:40:47,945
we'll move on to IP strategies

1067
00:40:47,945 --> 00:40:49,753
in addition to business plans

1068
00:40:49,753 --> 00:40:52,417
so opening it up for one of you

1069
00:40:52,417 --> 00:40:54,619
if you have anything to add.

1070
00:40:58,270 --> 00:41:00,713
I just think Natalie said it so

1071
00:41:00,713 --> 00:41:02,743
perfectly because the majority of the

1072
00:41:02,743 --> 00:41:05,292
calls that we do get right now are

1073
00:41:05,292 --> 00:41:07,428
businesses that are ideas they wanting

1074
00:41:07,428 --> 00:41:09,944
to start up there wanting to build

1075
00:41:09,944 --> 00:41:12,589
and they're wanting a grant to do so,

1076
00:41:12,590 --> 00:41:15,292
and I'm not really sure where the

1077
00:41:15,292 --> 00:41:17,529
assumption of there's got to be a

1078
00:41:17,529 --> 00:41:19,750
grant for me to start my business.

1079
00:41:19,750 --> 00:41:21,610
I don't know where that assumption

1080
00:41:21,610 --> 00:41:24,397
was born or why it does exist in the

1081
00:41:24,397 --> 00:41:26,756
minds of so many innovators and and

1082
00:41:26,756 --> 00:41:28,368
really intelligent people because

1083
00:41:28,368 --> 00:41:30,714
there aren't those pots of gold.

1084
00:41:30,714 --> 00:41:32,549
Under bridges or under rainbows,

1085
00:41:32,550 --> 00:41:34,180
or anywhere that I mean,

1086
00:41:34,180 --> 00:41:36,364
I have stumbled across one either and so

1087
00:41:36,364 --> 00:41:38,420
we women's business centers sometimes.

1088
00:41:38,420 --> 00:41:40,370
Do know about some very small,

1089
00:41:40,370 --> 00:41:41,351
very specific grants.

1090
00:41:41,351 --> 00:41:42,659
Sometimes there's training grants,

1091
00:41:42,660 --> 00:41:44,290
reimbursement grants, but you know,

1092
00:41:44,290 --> 00:41:46,482
usually a funder is going to want to

1093
00:41:46,482 --> 00:41:48,899
see some sort of record of performance

1094
00:41:48,899 --> 00:41:51,130
before they put their dollars there,

1095
00:41:51,130 --> 00:41:53,056
similar to the way an investor

1096
00:41:53,056 --> 00:41:55,370
is going to look at a business.

1097
00:41:55,370 --> 00:41:56,312
So I mean,

1098
00:41:56,312 --> 00:41:58,196
I just didn't want Natalie's remarks

1099
00:41:58,196 --> 00:42:00,586
to stand there un-echoed because

1100
00:42:00,586 --> 00:42:03,040
everything she said was completely right.

1101
00:42:03,040 --> 00:42:05,080
I've heard of the anomaly startup

1102
00:42:05,080 --> 00:42:06,100
Grant out there,

1103
00:42:06,100 --> 00:42:07,765
but it's really the exception

1104
00:42:07,765 --> 00:42:10,180
and not the rule by the way,

1105
00:42:10,180 --> 00:42:13,197
even though it's the most sought after

1106
00:42:13,197 --> 00:42:15,733
former capital yet truly isn't the

1107
00:42:15,733 --> 00:42:18,435
most healthy way to get this start.

1108
00:42:18,440 --> 00:42:21,600
Can I can I see something here long

1109
00:42:21,600 --> 00:42:24,920
before there was equity crowdfunding there

1110
00:42:24,920 --> 00:42:28,580
was what's called reward based crowdfunding.

1111
00:42:28,580 --> 00:42:31,065
And you did not take on any

1112
00:42:31,065 --> 00:42:33,539
debt with reward based crowdfunding.

1113
00:42:33,540 --> 00:42:35,625
Obviously you have to manufacture

1114
00:42:35,625 --> 00:42:38,489
the reward and deliver on that part,

1115
00:42:38,490 --> 00:42:42,235
but the funding takes care of that.

1116
00:42:42,240 --> 00:42:44,676
And you do not have to have

1117
00:42:44,676 --> 00:42:46,660
any assets to crowdfund.

1118
00:42:46,660 --> 00:42:49,138
That way you do not have to

1119
00:42:49,138 --> 00:42:51,890
have go into debt to crowdfund.

1120
00:42:51,890 --> 00:42:53,705
That way hundreds of thousands

1121
00:42:53,705 --> 00:42:55,996
of businesses every month go on

1122
00:42:55,996 --> 00:42:57,624
platforms like Kickstarter and

1123
00:42:57,624 --> 00:42:59,659
Indiegogo and thousands of other

1124
00:42:59,720 --> 00:43:01,940
platforms actually around the world.

1125
00:43:01,940 --> 00:43:03,950
They do reward based crowdfunding.

1126
00:43:03,950 --> 00:43:06,320
And they raised billions of dollars

1127
00:43:06,320 --> 00:43:08,769
collectively using this type of financing.

1128
00:43:08,770 --> 00:43:09,907
And you know,

1129
00:43:09,907 --> 00:43:13,709
I could sit here and talk for hours about.

1130
00:43:13,710 --> 00:43:15,555
All of this successful companies

1131
00:43:15,555 --> 00:43:17,400
who then took that money,

1132
00:43:17,400 --> 00:43:18,876
for example Oculus Rift,

1133
00:43:18,876 --> 00:43:21,090
which is the big 3D glasses,

1134
00:43:21,090 --> 00:43:23,673
was crowd funded by a 22 year

1135
00:43:23,673 --> 00:43:24,780
old on Kickstarter,

1136
00:43:24,780 --> 00:43:25,773
raised $1.2 million,

1137
00:43:25,773 --> 00:43:28,090
but then went on to raise $40

1138
00:43:28,160 --> 00:43:29,948
million in venture capital.

1139
00:43:29,950 --> 00:43:32,758
And then the next year was bought out

1140
00:43:32,758 --> 00:43:35,476
by Facebook for over a billion dollars.

1141
00:43:35,480 --> 00:43:38,410
So there are lots of ways to do this outside

1142
00:43:38,484 --> 00:43:41,019
of the traditional funding mechanisms.

1143
00:43:41,020 --> 00:43:43,128
If people are interested

1144
00:43:43,128 --> 00:43:45,236
in learning about that.

1145
00:43:45,240 --> 00:43:45,605
Alright,

1146
00:43:45,605 --> 00:43:46,700
thank you Ruth.

1147
00:43:46,700 --> 00:43:49,397
So let's change the topic a little

1148
00:43:49,397 --> 00:43:52,007
bit and let's talk about marketing

1149
00:43:52,007 --> 00:43:53,807
yourself and putting yourself

1150
00:43:53,807 --> 00:43:56,333
in the best position to qualify

1151
00:43:56,333 --> 00:43:58,012
for these financial resources.

1152
00:43:58,012 --> 00:44:01,720
I know we talked a little bit about it,

1153
00:44:01,720 --> 00:44:04,186
but let's specifically talk about IP,

1154
00:44:04,190 --> 00:44:05,399
which the USPTO,

1155
00:44:05,399 --> 00:44:07,414
the United States Patent Trademark

1156
00:44:07,414 --> 00:44:09,550
Office is very interested in.

1157
00:44:09,550 --> 00:44:11,605
For us, we recognize that

1158
00:44:11,605 --> 00:44:12,427
intellectual property,

1159
00:44:12,430 --> 00:44:13,705
meaning patents, trademarks,

1160
00:44:13,705 --> 00:44:15,405
copyrights, and trade secrets.

1161
00:44:15,410 --> 00:44:17,923
The ownership of that is very important

1162
00:44:17,923 --> 00:44:20,054
and that creating your business

1163
00:44:20,054 --> 00:44:22,514
strategy also means creating your

1164
00:44:22,514 --> 00:44:24,559
intellectual property strategy as well.

1165
00:44:24,560 --> 00:44:27,236
It's also important to have that

1166
00:44:27,236 --> 00:44:29,879
IP strategy 'cause it can help

1167
00:44:29,879 --> 00:44:32,595
support your ability to be able to

1168
00:44:32,595 --> 00:44:35,377
get funding as a matter of fact,

1169
00:44:35,380 --> 00:44:37,460
statistics show that patent ownership,

1170
00:44:37,460 --> 00:44:40,036
or even being able to say that you

1171
00:44:40,036 --> 00:44:42,800
have a patent pending increases the

1172
00:44:42,800 --> 00:44:46,260
likelihood of you getting funding by 70%.

1173
00:44:46,260 --> 00:44:48,628
And that's a lot but one of the

1174
00:44:48,628 --> 00:44:50,947
things that I know our organization.

1175
00:44:50,950 --> 00:44:52,630
Here's a lot is that?

1176
00:44:52,630 --> 00:44:54,796
Well, that's great that you know

1177
00:44:54,796 --> 00:44:56,240
getting an electoral property

1178
00:44:56,300 --> 00:44:57,986
will help me get the funding.

1179
00:44:57,990 --> 00:44:59,706
But it's also very expensive to

1180
00:44:59,706 --> 00:45:01,688
be able to get that intellectual

1181
00:45:01,688 --> 00:45:04,016
property right in the 1st place,

1182
00:45:04,020 --> 00:45:04,992
particularly a patent.

1183
00:45:04,992 --> 00:45:07,696
And so we wanted to spend a couple

1184
00:45:07,696 --> 00:45:09,910
of minutes just sharing some of

1185
00:45:09,910 --> 00:45:12,059
the resources that the USPTO has,

1186
00:45:12,060 --> 00:45:14,190
and then we'll talk about the

1187
00:45:14,190 --> 00:45:15,610
importance of intellectual property

1188
00:45:15,672 --> 00:45:17,604
with our panelists at with respect

1189
00:45:17,604 --> 00:45:18,892
to getting and securing.

1190
00:45:18,900 --> 00:45:22,392
Funding so at the USPTO we have many,

1191
00:45:22,400 --> 00:45:25,116
many resources that are available to you.

1192
00:45:25,120 --> 00:45:26,680
We've partnered with organizations

1193
00:45:26,680 --> 00:45:29,466
across the country to be able to

1194
00:45:29,466 --> 00:45:31,346
secure pro bono attorney services.

1195
00:45:31,350 --> 00:45:34,454
If you are below a certain income threshold,

1196
00:45:34,460 --> 00:45:36,310
you can secure those services

1197
00:45:36,310 --> 00:45:38,740
to help you with your patent

1198
00:45:38,740 --> 00:45:40,822
Filing an as well as your

1199
00:45:40,822 --> 00:45:43,175
trademark filing with some of the

1200
00:45:43,175 --> 00:45:44,955
organizations around the country

1201
00:45:44,960 --> 00:45:47,378
You can also get Copyright and

1202
00:45:47,378 --> 00:45:49,470
trade secret help as well.

1203
00:45:49,470 --> 00:45:50,700
And So what?

1204
00:45:50,700 --> 00:45:53,160
We've also secured an have relationships

1205
00:45:53,160 --> 00:45:56,187
with many law schools around the country,

1206
00:45:56,190 --> 00:45:58,506
in which if you don't qualify

1207
00:45:58,506 --> 00:46:00,810
for pro bono attorney services,

1208
00:46:00,810 --> 00:46:02,952
you can have a student attorney

1209
00:46:02,952 --> 00:46:05,915
who is under the supervision of a

1210
00:46:05,915 --> 00:46:08,335
practicing attorney help you with

1211
00:46:08,335 --> 00:46:10,590
those services and securing those

1212
00:46:10,590 --> 00:46:13,404
rights as well at the USPTO itself.

1213
00:46:13,410 --> 00:46:15,876
We have many one 800 numbers

1214
00:46:15,876 --> 00:46:18,510
or websites and emails that you

1215
00:46:18,510 --> 00:46:20,760
can ask us questions directly.

1216
00:46:20,760 --> 00:46:21,944
Our Trademark Assistant center,

1217
00:46:21,944 --> 00:46:24,090
as well as our inventor assistant center,

1218
00:46:24,090 --> 00:46:25,490
are opportunities for you to

1219
00:46:25,490 --> 00:46:27,285
reach out to us directly and

1220
00:46:27,285 --> 00:46:28,637
get your questions answered.

1221
00:46:28,640 --> 00:46:30,155
For things that you are

1222
00:46:30,155 --> 00:46:31,367
filing with our office.

1223
00:46:31,370 --> 00:46:32,702
In addition to that,

1224
00:46:32,702 --> 00:46:34,700
we have also partnered with libraries

1225
00:46:34,764 --> 00:46:36,558
over 80 libraries around the country

1226
00:46:36,558 --> 00:46:38,870
who are able to help you with your

1227
00:46:38,870 --> 00:46:41,130
searches to be able to find out, hey,

1228
00:46:41,130 --> 00:46:43,475
is my invention already out there and

1229
00:46:43,475 --> 00:46:45,906
patented or I want to start a new business.

1230
00:46:45,910 --> 00:46:47,420
I have a new logo,

1231
00:46:47,420 --> 00:46:48,564
a new brand name.

1232
00:46:48,564 --> 00:46:50,695
How do I know that someone else

1233
00:46:50,695 --> 00:46:52,430
has not taken that already?

1234
00:46:52,430 --> 00:46:55,342
You can do that search using the same

1235
00:46:55,342 --> 00:46:57,893
systems that the USPTO uses to be

1236
00:46:57,893 --> 00:47:00,348
able to search our registers to be

1237
00:47:00,348 --> 00:47:02,772
able to find out that information,

1238
00:47:02,780 --> 00:47:05,076
and those are really close at hand

1239
00:47:05,076 --> 00:47:07,295
because those are at your local

1240
00:47:07,295 --> 00:47:08,847
libraries around the country.

1241
00:47:08,850 --> 00:47:10,860
All of this information is actually

1242
00:47:10,860 --> 00:47:12,780
found on our PTO website,

1243
00:47:12,780 --> 00:47:14,978
so if you would like to find

1244
00:47:14,978 --> 00:47:15,920
out more information

1245
00:47:15,985 --> 00:47:17,777
and get contact information,

1246
00:47:17,780 --> 00:47:19,992
please feel free to go to uspto.gov

1247
00:47:19,992 --> 00:47:22,658
and click on small inventor resources.

1248
00:47:22,660 --> 00:47:25,972
And it will point you to all the contact

1249
00:47:25,972 --> 00:47:27,897
information with respect to that.

1250
00:47:27,900 --> 00:47:30,618
But you can also refer to some of our

1251
00:47:30,618 --> 00:47:32,770
previous programs that talks about

1252
00:47:32,770 --> 00:47:34,995
these specific resources in person.

1253
00:47:35,000 --> 00:47:37,598
You can visit our pro Women's

1254
00:47:37,598 --> 00:47:39,330
Entrepreneurship Symposium program page

1255
00:47:39,394 --> 00:47:41,898
and look at the different events that we

1256
00:47:41,898 --> 00:47:44,726
have held throughout the month on March 3rd,

1257
00:47:44,730 --> 00:47:46,600
March 10th and March 17th,

1258
00:47:46,600 --> 00:47:49,141
and listen to those particular videos and

1259
00:47:49,141 --> 00:47:51,827
hear more about those resources as well.

1260
00:47:51,830 --> 00:47:53,700
So with that in mind,

1261
00:47:53,700 --> 00:47:55,630
I'm actually going to transition

1262
00:47:55,630 --> 00:47:56,788
back to Natalie.

1263
00:47:56,790 --> 00:47:57,894
And ask this question,

1264
00:47:57,894 --> 00:48:00,014
can you also discuss some of the

1265
00:48:00,014 --> 00:48:01,626
additional resources beyond what

1266
00:48:01,626 --> 00:48:03,641
you've already talked about already,

1267
00:48:03,650 --> 00:48:06,490
that the SBA can provide to help our

1268
00:48:06,490 --> 00:48:08,636
organizations that are listening on this

1269
00:48:08,636 --> 00:48:11,072
call with some of the different things

1270
00:48:11,072 --> 00:48:13,592
that they are trying to apply for us?

1271
00:48:13,600 --> 00:48:15,325
They start their business. Absolutely

1272
00:48:15,325 --> 00:48:18,144
and hope I also think at the beginning

1273
00:48:18,144 --> 00:48:20,214
you kind of mentioned that companies

1274
00:48:20,214 --> 00:48:22,254
that own some form of intellectual

1275
00:48:22,254 --> 00:48:24,297
property seems to be more financially

1276
00:48:24,297 --> 00:48:28,500
viable and a lot of that has to do with.

1277
00:48:28,500 --> 00:48:30,964
The fact that when investors are looking,

1278
00:48:30,970 --> 00:48:32,940
they're looking for your competitive

1279
00:48:32,940 --> 00:48:35,550
advantage and the fact that you are

1280
00:48:35,550 --> 00:48:37,862
coming to the table with a patent would

1281
00:48:37,927 --> 00:48:39,742
potentially preclude someone else from

1282
00:48:39,742 --> 00:48:42,547
being able to get to market as quickly

1283
00:48:42,547 --> 00:48:45,440
as you would if you own the patent,

1284
00:48:45,440 --> 00:48:48,048
or if you only IP around this and

1285
00:48:48,048 --> 00:48:50,268
just kind of talking about what

1286
00:48:50,268 --> 00:48:52,846
IP is because it's so vast, right?

1287
00:48:52,846 --> 00:48:54,576
We're talking about service marks

1288
00:48:54,576 --> 00:48:55,960
were talking about copyrights

1289
00:48:56,015 --> 00:48:57,447
for talking about trademarks,

1290
00:48:57,450 --> 00:48:58,910
were talking about patents.

1291
00:48:58,910 --> 00:48:59,640
I mean,

1292
00:48:59,640 --> 00:49:02,139
this could be everything from you built,

1293
00:49:02,140 --> 00:49:03,930
the latest innovation and technology.

1294
00:49:03,930 --> 00:49:06,821
To you have a recipe that you

1295
00:49:06,821 --> 00:49:09,030
would like to actually

1296
00:49:09,030 --> 00:49:11,630
You would like you would like to protect

1297
00:49:11,630 --> 00:49:13,526
the ingredients of for something that

1298
00:49:13,526 --> 00:49:15,770
you might be selling for your family.

1299
00:49:15,770 --> 00:49:18,155
And so I think if we if we if

1300
00:49:18,155 --> 00:49:20,587
we share it in that context,

1301
00:49:20,590 --> 00:49:22,648
I think that people can see both

1302
00:49:22,648 --> 00:49:24,796
the things that they write on their

1303
00:49:24,796 --> 00:49:27,017
blogs as things that would be under

1304
00:49:27,017 --> 00:49:29,147
Copyright to what they would produced

1305
00:49:29,147 --> 00:49:32,098
for someone in a novel and sell off or

1306
00:49:32,098 --> 00:49:34,707
to provide access to in the same light.

1307
00:49:34,710 --> 00:49:36,733
And I only say that just because

1308
00:49:36,733 --> 00:49:39,112
you know we have women at every

1309
00:49:39,112 --> 00:49:40,556
stage of their business.

1310
00:49:40,560 --> 00:49:43,404
On this call we have women who are sole

1311
00:49:43,404 --> 00:49:45,840
proprietors who are creating Instagram posts,

1312
00:49:45,840 --> 00:49:46,544
blog posts,

1313
00:49:46,544 --> 00:49:48,656
or photographers that could be copywriting,

1314
00:49:48,660 --> 00:49:49,656
their their photography,

1315
00:49:49,656 --> 00:49:51,980
or we have people who are running

1316
00:49:52,046 --> 00:49:53,303
multi $1,000,000 manufacturing

1317
00:49:53,303 --> 00:49:55,817
companies that have just innovative in

1318
00:49:55,817 --> 00:49:58,045
the way in which they are producing

1319
00:49:58,045 --> 00:50:00,345
whatever it is that they are producing.

1320
00:50:00,345 --> 00:50:04,280
And I I want to speak to both of those.

1321
00:50:04,280 --> 00:50:06,180
With that being said again,

1322
00:50:06,180 --> 00:50:09,300
SBA has a vast network of resources to

1323
00:50:09,300 --> 00:50:11,120
support entrepreneurs at every level.

1324
00:50:11,120 --> 00:50:13,120
I'll mention a few additional

1325
00:50:13,120 --> 00:50:15,120
initiatives in addition to the

1326
00:50:15,196 --> 00:50:17,200
one for which my office funds,

1327
00:50:17,200 --> 00:50:19,860
which is the Women's Business center program.

1328
00:50:19,860 --> 00:50:22,056
But we have the service core

1329
00:50:22,056 --> 00:50:23,520
of retired executives which

1330
00:50:23,594 --> 00:50:25,559
provide one on one mentorship,

1331
00:50:25,560 --> 00:50:27,192
an advisement to entrepreneurs

1332
00:50:27,192 --> 00:50:29,232
who are seeking support for

1333
00:50:29,232 --> 00:50:31,420
the growth of their companies.

1334
00:50:31,420 --> 00:50:33,535
We have the small business

1335
00:50:33,535 --> 00:50:35,650
development centers SBDC's which are

1336
00:50:35,725 --> 00:50:38,010
in communities across the country

1337
00:50:38,010 --> 00:50:40,295
which provide access to resources,

1338
00:50:40,300 --> 00:50:42,520
training, scope and scale for

1339
00:50:42,520 --> 00:50:44,296
small businesses as well.

1340
00:50:44,300 --> 00:50:46,650
We have veteran business centers

1341
00:50:46,650 --> 00:50:49,000
across the nation supporting the

1342
00:50:49,078 --> 00:50:51,640
growth of veteran businesses and in

1343
00:50:51,640 --> 00:50:54,678
this support baked into that is is

1344
00:50:54,678 --> 00:50:56,773
this intellectual property piece for

1345
00:50:56,773 --> 00:50:59,264
which this question has been asked.

1346
00:50:59,264 --> 00:51:02,560
We also have tribal and Native Americans.

1347
00:51:02,560 --> 00:51:05,434
Centers that support our tribal and

1348
00:51:05,434 --> 00:51:07,350
native communities and indigenous

1349
00:51:07,429 --> 00:51:09,721
communities here in the United States

1350
00:51:09,721 --> 00:51:12,796
of America and so want to insure one

1351
00:51:12,796 --> 00:51:15,004
that we're letting folks know that

1352
00:51:15,010 --> 00:51:17,915
we have a portfolio of of centers.

1353
00:51:17,920 --> 00:51:20,884
A portfolio of programs and portfolio

1354
00:51:20,884 --> 00:51:23,869
of initiatives designed to support you.

1355
00:51:23,870 --> 00:51:26,582
And you can find out more about all

1356
00:51:26,582 --> 00:51:29,356
of them by going again to sba.gov

1357
00:51:29,356 --> 00:51:31,770
and finding a center near you.

1358
00:51:35,210 --> 00:51:36,064
Thanks Natalie,

1359
00:51:36,064 --> 00:51:38,626
I'm gonna move to Elizabeth and

1360
00:51:38,626 --> 00:51:40,890
Ruth next and then 

1361
00:51:40,890 --> 00:51:43,302
I will ask you specific questions

1362
00:51:43,302 --> 00:51:45,360
that we've gotten as well.

1363
00:51:45,360 --> 00:51:47,796
In addition to answering these questions.

1364
00:51:47,800 --> 00:51:49,388
But Elizabeth and Ruth.

1365
00:51:49,388 --> 00:51:51,770
How often is IP actually brought

1366
00:51:51,847 --> 00:51:53,479
up in your discussions?

1367
00:51:53,480 --> 00:51:57,130
And how important do you feel it is to have

1368
00:51:57,220 --> 00:52:00,788
IP as part of a business owners portfolio?

1369
00:52:00,790 --> 00:52:03,316
Does it truly increase the likelihood

1370
00:52:03,320 --> 00:52:04,800
That you will get funding.

1371
00:52:04,800 --> 00:52:06,920
And as Natalie said I mean it does

1372
00:52:06,920 --> 00:52:08,867
reduce the risk for the investor so

1373
00:52:08,867 --> 00:52:11,304
I would like to think that that makes

1374
00:52:11,304 --> 00:52:13,344
it more attractive for the investor.

1375
00:52:13,350 --> 00:52:15,740
So Elizabeth if you could

1376
00:52:15,740 --> 00:52:17,652
start off with that.

1377
00:52:17,660 --> 00:52:20,551
I think it really depends on the

1378
00:52:20,551 --> 00:52:23,043
type of business and it also

1379
00:52:23,043 --> 00:52:25,759
matters not just that you have IP,

1380
00:52:25,760 --> 00:52:29,000
but if somebody else has the IP right?

1381
00:52:29,000 --> 00:52:31,625
So as an investor we're often looking

1382
00:52:31,625 --> 00:52:34,739
for if you're bringing a new technology.

1383
00:52:34,740 --> 00:52:37,785
Or product to market if somebody else

1384
00:52:37,785 --> 00:52:41,270
owns that IP, there's a lot of risk,

1385
00:52:41,270 --> 00:52:41,669
right?

1386
00:52:41,669 --> 00:52:44,462
And funding your company if you don't

1387
00:52:44,462 --> 00:52:47,683
kind of have the legal right of way

1388
00:52:47,683 --> 00:52:50,379
to actually produce and sell that

1389
00:52:50,379 --> 00:52:53,009
product or technology you're creating.

1390
00:52:53,010 --> 00:52:55,620
So I think IP is important,

1391
00:52:55,620 --> 00:52:57,360
and understanding what you're

1392
00:52:57,360 --> 00:52:58,230
actually building.

1393
00:52:58,230 --> 00:52:59,970
What technologically differentiates you,

1394
00:52:59,970 --> 00:53:02,145
what your competitive advantage is?

1395
00:53:02,150 --> 00:53:04,838
Are you able to actually sell?

1396
00:53:04,840 --> 00:53:07,276
In produce what you want to be

1397
00:53:07,276 --> 00:53:09,980
able to get that financing for,

1398
00:53:09,980 --> 00:53:12,548
I think a lot of I've seen just

1399
00:53:12,548 --> 00:53:15,579
in my own experience a lot of

1400
00:53:15,579 --> 00:53:17,879
women business owners do get,

1401
00:53:17,880 --> 00:53:18,586
you know,

1402
00:53:18,586 --> 00:53:20,704
legal sort of threats and orders

1403
00:53:20,704 --> 00:53:22,388
against their trademarks or

1404
00:53:22,388 --> 00:53:24,200
different words they've used,

1405
00:53:24,200 --> 00:53:26,070
or different product they sell

1406
00:53:26,070 --> 00:53:28,805
and that can be really scary for

1407
00:53:28,805 --> 00:53:31,175
a business owner when you haven't

1408
00:53:31,175 --> 00:53:32,890
gone through that before,

1409
00:53:32,890 --> 00:53:35,490
and I think you know.

1410
00:53:35,490 --> 00:53:37,926
Lawyers are here to help you write.

1411
00:53:37,930 --> 00:53:40,149
Understand that and you can find Pro

1412
00:53:40,149 --> 00:53:42,100
Bona resources to understand that.

1413
00:53:42,100 --> 00:53:43,966
But I think also knowing that

1414
00:53:43,966 --> 00:53:45,945
these are things that all business

1415
00:53:45,945 --> 00:53:48,290
owners face at some point in their

1416
00:53:48,290 --> 00:53:50,230
journey because right IP both

1417
00:53:50,230 --> 00:53:52,150
protects your business and protects

1418
00:53:52,150 --> 00:53:53,605
other people's businesses, right?

1419
00:53:53,605 --> 00:53:56,090
And so I think it is something

1420
00:53:56,152 --> 00:53:57,070
to think about.

1421
00:53:57,070 --> 00:53:59,846
It's something to have at top of mind,

1422
00:53:59,850 --> 00:54:01,590
and I think of course,

1423
00:54:01,590 --> 00:54:04,366
if somebody does have a very strong right,

1424
00:54:04,370 --> 00:54:05,540
let's say patent.

1425
00:54:05,540 --> 00:54:06,710
Portfolio that's obviously

1426
00:54:06,710 --> 00:54:08,900
an asset to their business,

1427
00:54:08,900 --> 00:54:11,364
and as an investor you're looking for

1428
00:54:11,364 --> 00:54:13,502
what are the competitive advantages

1429
00:54:13,502 --> 00:54:16,514
of a business you're investing in?

1430
00:54:16,520 --> 00:54:19,348
What are the assets that this business

1431
00:54:19,348 --> 00:54:22,324
owns an can capitalize on and right

1432
00:54:22,324 --> 00:54:25,820
IP is considered an asset in that sense,

1433
00:54:25,820 --> 00:54:27,940
so especially if you are,

1434
00:54:27,940 --> 00:54:28,734
you know,

1435
00:54:28,734 --> 00:54:31,116
a scientific company where you have

1436
00:54:31,116 --> 00:54:33,440
something super innovative and unique.

1437
00:54:33,440 --> 00:54:35,555
I would definitely say patent

1438
00:54:35,555 --> 00:54:37,247
protection is quite valuable.

1439
00:54:39,720 --> 00:54:40,788
Alright, and Ruth,

1440
00:54:40,788 --> 00:54:43,720
do you have anything to add to that?

1441
00:54:43,720 --> 00:54:48,130
Yes. So what we haven't touched on,

1442
00:54:48,130 --> 00:54:50,992
which is the other side of your sort of

1443
00:54:50,992 --> 00:54:53,781
intellectual property, which is your.

1444
00:54:53,781 --> 00:54:58,100
I'm your URL securing the right URLs.

1445
00:54:58,100 --> 00:55:00,215
Your Facebook, LinkedIn,

1446
00:55:00,215 --> 00:55:03,740
Twitter, branding all of the

1447
00:55:03,740 --> 00:55:06,590
branding around social media.

1448
00:55:06,590 --> 00:55:07,806
Email marketing.

1449
00:55:07,806 --> 00:55:11,454
All of those kinds of things,

1450
00:55:11,460 --> 00:55:12,711
anything that somebody

1451
00:55:12,711 --> 00:55:14,379
would Google about you,

1452
00:55:14,380 --> 00:55:16,470
the principles of the company,

1453
00:55:16,470 --> 00:55:18,560
all of those things matter

1454
00:55:18,560 --> 00:55:20,232
in in getting funded,

1455
00:55:20,240 --> 00:55:24,410
and then obviously protecting those things.

1456
00:55:24,410 --> 00:55:26,666
I can't tell you how many times I've

1457
00:55:26,666 --> 00:55:29,059
worked with companies where they have not.

1458
00:55:29,060 --> 00:55:30,300
They've already started down

1459
00:55:30,300 --> 00:55:32,160
this road and they have done.

1460
00:55:32,160 --> 00:55:33,865
Haven't done even those simple

1461
00:55:33,865 --> 00:55:36,171
basic things which are free and we

1462
00:55:36,171 --> 00:55:38,047
would take you know nothing to do,

1463
00:55:38,050 --> 00:55:40,220
but they haven't locked to those in.

1464
00:55:40,220 --> 00:55:42,660
And then when they go to find a set up

1465
00:55:42,726 --> 00:55:45,484
like a LinkedIn profile for their business,

1466
00:55:45,490 --> 00:55:47,040
they realized the name has

1467
00:55:47,040 --> 00:55:48,590
been taken by somebody else.

1468
00:55:48,590 --> 00:55:50,760
And sometimes they're not even using it.

1469
00:55:50,760 --> 00:55:52,260
It's just sitting there.

1470
00:55:52,260 --> 00:55:54,760
So it's really important in addition to.

1471
00:55:54,760 --> 00:55:58,330
The services that we talked about already.

1472
00:55:58,330 --> 00:56:01,680
The Trademark Patent Office offers.

1473
00:56:01,680 --> 00:56:05,226
These other places where your brands

1474
00:56:05,226 --> 00:56:09,670
name resides need to be secured as well.

1475
00:56:09,670 --> 00:56:10,065
Alright,

1476
00:56:10,065 --> 00:56:12,040
thank you Ruth and Corrine.

1477
00:56:12,040 --> 00:56:15,200
If you have anything to add to that,

1478
00:56:15,200 --> 00:56:16,202
please do so,

1479
00:56:16,202 --> 00:56:18,206
but a couple of questions that

1480
00:56:18,206 --> 00:56:20,410
came through with respect to

1481
00:56:20,410 --> 00:56:22,210
businesses and challenges during

1482
00:56:22,210 --> 00:56:24,680
covid and in particular in 2020.

1483
00:56:24,680 --> 00:56:27,242
There are many people who have actually

1484
00:56:27,242 --> 00:56:30,209
lost jobs and their credit was impacted.

1485
00:56:30,210 --> 00:56:33,418
We talked a lot about the importance of

1486
00:56:33,418 --> 00:56:36,269
your credit and how that will increase

1487
00:56:36,269 --> 00:56:39,498
your ability to be able to get funding.

1488
00:56:39,500 --> 00:56:41,810
But are there solutions or resources

1489
00:56:41,810 --> 00:56:43,691
for women entrepreneurs who are

1490
00:56:43,691 --> 00:56:45,630
trying to start a business and they

1491
00:56:45,630 --> 00:56:47,929
do not have a perfect credit score?

1492
00:56:50,940 --> 00:56:53,550
It is so amazing that questions

1493
00:56:53,550 --> 00:56:55,290
timing because my answer

1494
00:56:55,290 --> 00:56:58,770
The first question ties to this as well.

1495
00:56:58,770 --> 00:57:00,078
An intellectual property.

1496
00:57:00,078 --> 00:57:03,560
Ruth touched on this too with URLs,

1497
00:57:03,560 --> 00:57:06,480
but pretty much every business.

1498
00:57:06,480 --> 00:57:08,860
Is going to have some form of

1499
00:57:08,860 --> 00:57:10,330
intellectual property at stake.

1500
00:57:10,330 --> 00:57:13,304
It's the name, it's the logo. It's URL.

1501
00:57:13,304 --> 00:57:15,489
Ruth mentioned it's the recipe.

1502
00:57:15,490 --> 00:57:16,814
Of the hamburger seasoning,

1503
00:57:16,814 --> 00:57:18,469
it's the whatever it is.

1504
00:57:18,470 --> 00:57:19,794
There's always an electoral

1505
00:57:19,794 --> 00:57:20,787
property at stake,

1506
00:57:20,790 --> 00:57:23,150
and so having a plan to protect the

1507
00:57:23,150 --> 00:57:24,801
intellectual property and defend the

1508
00:57:24,801 --> 00:57:26,145
business against encroachment from

1509
00:57:26,145 --> 00:57:28,400
others and also claims of encroachment.

1510
00:57:28,400 --> 00:57:30,068
Super important and I dealt with

1511
00:57:30,068 --> 00:57:32,039
this in my own small business

1512
00:57:32,039 --> 00:57:34,024
which was an advertising agency.

1513
00:57:34,030 --> 00:57:35,680
We were creating marketing campaigns.

1514
00:57:35,680 --> 00:57:36,667
We were creating.

1515
00:57:36,667 --> 00:57:38,970
Brand identity is and this is a

1516
00:57:39,040 --> 00:57:41,352
world that I lived in and so it's

1517
00:57:41,352 --> 00:57:43,501
very much something that the small

1518
00:57:43,501 --> 00:57:45,757
business may not be aware that.

1519
00:57:45,760 --> 00:57:47,758
They will someday be affected by,

1520
00:57:47,760 --> 00:57:50,416
even if they planned not to address it.

1521
00:57:50,420 --> 00:57:52,090
So, just like Ruth said,

1522
00:57:52,090 --> 00:57:55,078
you know failing to plan is planning to fail.

1523
00:57:55,080 --> 00:57:55,772
I've adopted,

1524
00:57:55,772 --> 00:57:57,848
I've coined a new phrase which

1525
00:57:57,848 --> 00:57:59,409
is Plan B is better.

1526
00:57:59,410 --> 00:58:01,444
Most of the businesses come out

1527
00:58:01,444 --> 00:58:03,738
with a plan and you know it.

1528
00:58:03,740 --> 00:58:06,068
That's plan A and they think plan is

1529
00:58:06,068 --> 00:58:08,397
going to be just hugely successful.

1530
00:58:08,400 --> 00:58:10,738
And then they have to change something.

1531
00:58:10,740 --> 00:58:12,636
They have to adapt to their

1532
00:58:12,636 --> 00:58:14,359
environment or the consumer demand

1533
00:58:14,359 --> 00:58:16,369
or some other unknown circumstance.

1534
00:58:16,370 --> 00:58:18,687
And they end up sort of feeling

1535
00:58:18,687 --> 00:58:20,428
like they settled on Plan B,

1536
00:58:20,430 --> 00:58:22,926
but Plan B may be the one that's

1537
00:58:22,926 --> 00:58:23,550
super successful,

1538
00:58:23,550 --> 00:58:25,830
and so I like to remind people Plan

1539
00:58:25,830 --> 00:58:28,540
B is better. And here's where we are.

1540
00:58:28,540 --> 00:58:30,260
We're in this pandemic.

1541
00:58:30,260 --> 00:58:32,410
Small businesses have been challenged.

1542
00:58:32,410 --> 00:58:33,742
They may be closing.

1543
00:58:33,742 --> 00:58:36,520
They may have to be reinventing themselves.

1544
00:58:36,520 --> 00:58:38,806
This is their chance to develop

1545
00:58:38,806 --> 00:58:41,388
Plan B and Plan B is better.

1546
00:58:41,390 --> 00:58:43,628
Plan B is better because it's

1547
00:58:43,628 --> 00:58:44,374
better informed.

1548
00:58:44,380 --> 00:58:48,120
It's more wise it it has a sense of 

1549
00:58:48,120 --> 00:58:49,985
Here's why it's so important

1550
00:58:49,985 --> 00:58:51,477
for me to succeed,

1551
00:58:51,480 --> 00:58:53,730
and so there's a new motivation

1552
00:58:53,730 --> 00:58:54,854
and excitement, enthusiasm,

1553
00:58:54,854 --> 00:58:56,724
and so for the business

1554
00:58:56,724 --> 00:58:58,220
who suffered a challenge,

1555
00:58:58,220 --> 00:59:00,590
who suffered a set back.

1556
00:59:00,590 --> 00:59:02,522
It's OK 'cause Plan B is better

1557
00:59:02,522 --> 00:59:04,425
and we want to build resiliency

1558
00:59:04,425 --> 00:59:06,763
into that new plan and that does

1559
00:59:06,836 --> 00:59:09,086
include addressing access or sorry,

1560
00:59:09,090 --> 00:59:10,197
the addressing intellectual

1561
00:59:10,197 --> 00:59:12,411
property and so it was funny

1562
00:59:12,411 --> 00:59:14,228
because while Ruth was talking I

1563
00:59:14,228 --> 00:59:16,414
did just a quick Google search and

1564
00:59:16,414 --> 00:59:18,269
I looked up intellectual property,

1565
00:59:18,270 --> 00:59:20,220
women's business center just to see

1566
00:59:20,220 --> 00:59:22,544
who out there in the 135 centers

1567
00:59:22,544 --> 00:59:24,458
is doing training on this right

1568
00:59:24,458 --> 00:59:27,013
now and I found a new women's

1569
00:59:27,013 --> 00:59:28,461
business center who's partnering

1570
00:59:28,470 --> 00:59:30,780
with several of the community.

1571
00:59:30,780 --> 00:59:32,510
Organizations in in their community

1572
00:59:32,510 --> 00:59:35,043
is offering a whole series on how to

1573
00:59:35,043 --> 00:59:36,765
be resilient and guess what one of

1574
00:59:36,823 --> 00:59:39,169
the weeks workshops is is completely

1575
00:59:39,169 --> 00:59:40,733
devoted to intellectual property.

1576
00:59:40,740 --> 00:59:43,476
It's so important as part of that planning

1577
00:59:43,476 --> 00:59:45,716
process here in this pandemic or not,

1578
00:59:45,720 --> 00:59:47,430
that that the Women's business

1579
00:59:47,430 --> 00:59:49,140
center devoted entire week to

1580
00:59:49,199 --> 00:59:51,350
it. And so every women's business center

1581
00:59:51,350 --> 00:59:53,359
should have some form of support.

1582
00:59:53,360 --> 00:59:56,168
Whether it's counseling or a training

1583
00:59:56,168 --> 00:59:58,499
workshop that's just sitting there

1584
00:59:58,499 --> 01:00:00,809
and waiting for you to register.

1585
01:00:00,810 --> 01:00:03,148
Thanks, Corrine And. I know it's at

1586
01:00:03,148 --> 01:00:05,190
the beginning of the hour again,

1587
01:00:05,190 --> 01:00:07,362
and but Natalie actually has another

1588
01:00:07,362 --> 01:00:09,568
engagement that she needs to jump to

1589
01:00:09,570 --> 01:00:12,603
So Natalie thank you so much for joining us.

1590
01:00:12,610 --> 01:00:14,668
We really appreciate the words of

1591
01:00:14,668 --> 01:00:17,319
wisdom that you have given us for today.

1592
01:00:17,320 --> 01:00:19,055
Absolutely, I'm grateful to have

1593
01:00:19,055 --> 01:00:21,485
been here and to have shared the

1594
01:00:21,485 --> 01:00:23,045
stage with each of you.

1595
01:00:23,050 --> 01:00:24,740
Thank you for having me.

1596
01:00:27,600 --> 01:00:31,520
Alright, and so let's move on to another

1597
01:00:31,520 --> 01:00:35,381
segment and that let's continue to talk

1598
01:00:35,381 --> 01:00:39,535
about what else business owners can do to

1599
01:00:39,535 --> 01:00:43,006
set themselves up and place them in the

1600
01:00:43,006 --> 01:00:46,974
best position to go ahead and get funding.

1601
01:00:46,980 --> 01:00:48,968
And specifically without any

1602
01:00:48,968 --> 01:00:50,956
purpose of stereotyping.

1603
01:00:50,960 --> 01:00:54,158
How do women owned businesses differentiate

1604
01:00:54,158 --> 01:00:57,070
themselves from other businesses to obtain

1605
01:00:57,070 --> 01:01:00,182
Funding? Is owning a business as a woman

1606
01:01:00,182 --> 01:01:02,366
generally an advantage or disadvantage

1607
01:01:02,366 --> 01:01:05,893
an are there niche areas that you suggest

1608
01:01:05,893 --> 01:01:08,765
women get into that are not seeing a

1609
01:01:08,765 --> 01:01:10,758
lot of women business participation?

1610
01:01:10,758 --> 01:01:13,650
And I'm actually going to start with

1611
01:01:13,650 --> 01:01:15,560
Ruth on this specific question.

1612
01:01:18,510 --> 01:01:21,849
I mean look women have gotten the short end

1613
01:01:21,849 --> 01:01:25,529
of the stick in this country on everything.

1614
01:01:25,530 --> 01:01:28,882
I just read an article the other day

1615
01:01:28,882 --> 01:01:32,190
that said that women need that one in

1616
01:01:32,190 --> 01:01:35,858
five or 20% of women compared to one in

1617
01:01:35,858 --> 01:01:39,030
three or 30% of men make investments in

1618
01:01:39,030 --> 01:01:42,460
in in the stock market in anything. Women,

1619
01:01:42,460 --> 01:01:45,358
That is one way to create wealth.

1620
01:01:45,360 --> 01:01:47,958
That is one way to create

1621
01:01:47,958 --> 01:01:48,824
generational wealth.

1622
01:01:48,830 --> 01:01:51,678
And that is one way to create wealth

1623
01:01:51,678 --> 01:01:53,560
to invest in a business.

1624
01:01:53,560 --> 01:01:55,486
If you're not doing any of

1625
01:01:55,486 --> 01:01:56,770
that over your lifetime,

1626
01:01:56,770 --> 01:01:58,982
you are losing out on creating that

1627
01:01:58,982 --> 01:02:01,259
kind of wealth that could help you.

1628
01:02:01,260 --> 01:02:02,223
At some point,

1629
01:02:02,223 --> 01:02:04,470
if you needed to launch a business.

1630
01:02:04,470 --> 01:02:07,210
I mean during this pandemic.

1631
01:02:07,210 --> 01:02:09,450
People had to tap into their 401K

1632
01:02:09,450 --> 01:02:12,045
plans to get access to capital for

1633
01:02:12,045 --> 01:02:14,385
their business to start a business

1634
01:02:14,456 --> 01:02:16,794
'cause they lost their job and that

1635
01:02:16,794 --> 01:02:19,260
was the only way that they could

1636
01:02:19,260 --> 01:02:21,450
build an income and sell their

1637
01:02:21,524 --> 01:02:23,820
homes and live in their cars and

1638
01:02:23,820 --> 01:02:26,267
do all kinds of you know really,

1639
01:02:26,270 --> 01:02:28,040
really sad and bad things.

1640
01:02:28,040 --> 01:02:28,961
And you know,

1641
01:02:28,961 --> 01:02:31,110
I wanted to to talk about this

1642
01:02:31,186 --> 01:02:33,141
quote from Vice President Kamala

1643
01:02:33,141 --> 01:02:35,450
Harris just a few weeks ago.

1644
01:02:35,450 --> 01:02:35,803
She,

1645
01:02:35,803 --> 01:02:38,980
she wrote an Op Ed in the Washington Post.

1646
01:02:38,980 --> 01:02:42,229
I believe it was and she said in February

1647
01:02:42,230 --> 01:02:45,079
2025 million women were business owners by

1648
01:02:45,079 --> 01:02:48,409
April one and four had closed their doors,

1649
01:02:48,410 --> 01:02:50,786
about 2.5 million women have lost

1650
01:02:50,786 --> 01:02:53,717
their jobs or dropped out of the

1651
01:02:53,717 --> 01:02:55,405
workforce during the pandemic.

1652
01:02:55,410 --> 01:02:58,294
That's enough to fill 40 football stadiums.

1653
01:02:58,300 --> 01:03:00,750
This mass exodus of women from the

1654
01:03:00,750 --> 01:03:03,240
workforce is a national emergency,

1655
01:03:03,240 --> 01:03:05,706
and it demands a national solution.

1656
01:03:05,710 --> 01:03:06,841
And you know,

1657
01:03:06,841 --> 01:03:07,218
we,

1658
01:03:07,218 --> 01:03:09,103
that's why we're launching Rise

1659
01:03:09,103 --> 01:03:10,939
of crowdfunding because we're

1660
01:03:10,939 --> 01:03:13,249
going to focus on women.

1661
01:03:13,250 --> 01:03:14,734
And minorities and veterans

1662
01:03:14,734 --> 01:03:17,524
and LGBT and all of the diverse

1663
01:03:17,524 --> 01:03:19,472
communities that have historically

1664
01:03:19,472 --> 01:03:22,280
been left out of funding 

1665
01:03:22,280 --> 01:03:25,502
And we're changing the way we look at this

1666
01:03:25,502 --> 01:03:28,376
because we have looked at this lopsidedly,

1667
01:03:28,380 --> 01:03:30,474
which is that we have to

1668
01:03:30,474 --> 01:03:32,570
go to a funding source.

1669
01:03:32,570 --> 01:03:34,470
We are the funding source.

1670
01:03:34,470 --> 01:03:35,994
Crowdfunding is the crowd.

1671
01:03:35,994 --> 01:03:38,280
The crowd when they say crowdfunding,

1672
01:03:38,280 --> 01:03:39,804
it's all of us.

1673
01:03:39,804 --> 01:03:40,947
So you know,

1674
01:03:40,950 --> 01:03:43,818
we're really excited and hopeful to

1675
01:03:43,818 --> 01:03:46,233
really change this entire process

1676
01:03:46,233 --> 01:03:49,194
where somebody comes up with an idea

1677
01:03:49,194 --> 01:03:52,156
and where do they go to get funding?

1678
01:03:52,160 --> 01:03:54,072
Or they feel like they have to go

1679
01:03:54,072 --> 01:03:55,349
somewhere else to get funding,

1680
01:03:55,350 --> 01:03:56,820
but they're actually surrounded by funding.

1681
01:03:56,820 --> 01:03:58,212
They just don't understand the process

1682
01:03:58,212 --> 01:03:59,998
on how to tap into that funding.

1683
01:04:02,830 --> 01:04:04,285
Thanks, Ruth, Elizabeth

1684
01:04:04,285 --> 01:04:07,195
Do you have anything to add?

1685
01:04:07,200 --> 01:04:10,096
Yeah, I wanna take this at a little

1686
01:04:10,096 --> 01:04:12,798
bit more of an optimistic angle,

1687
01:04:12,800 --> 01:04:16,120
so just what we've seen we've made over

1688
01:04:16,120 --> 01:04:18,796
90 investments in the past five years.

1689
01:04:18,800 --> 01:04:21,920
And we've built a portfolio of women lead

1690
01:04:21,920 --> 01:04:23,574
businesses that's actually performing

1691
01:04:23,574 --> 01:04:26,395
at the top decile in the industry.

1692
01:04:26,400 --> 01:04:28,800
There hasn't been in venture capital.

1693
01:04:28,800 --> 01:04:31,200
Many firms that have invested in

1694
01:04:31,200 --> 01:04:32,800
majority women lead businesses,

1695
01:04:32,800 --> 01:04:35,579
so it's amazing to see the data

1696
01:04:35,579 --> 01:04:38,069
that even when you do invest.

1697
01:04:38,070 --> 01:04:40,045
In an entire portfolio of

1698
01:04:40,045 --> 01:04:41,230
women lead businesses,

1699
01:04:41,230 --> 01:04:43,600
you can actually outperform the market.

1700
01:04:43,600 --> 01:04:45,970
So as a woman business owner,

1701
01:04:45,970 --> 01:04:48,706
I think a lot of us right take

1702
01:04:48,706 --> 01:04:51,256
problems we see in our everyday

1703
01:04:51,256 --> 01:04:53,476
lives and find really unique.

1704
01:04:53,480 --> 01:04:55,760
An inventive solutions to help yourselves

1705
01:04:55,760 --> 01:04:58,609
and to help others in your communities.

1706
01:04:58,610 --> 01:05:00,806
And that's part of what you're

1707
01:05:00,806 --> 01:05:02,960
doing by building this business,

1708
01:05:02,960 --> 01:05:05,592
and I think that's the power we

1709
01:05:05,592 --> 01:05:07,706
really have as women, right?

1710
01:05:07,706 --> 01:05:09,736
As being intuitive, being empathetic.

1711
01:05:09,740 --> 01:05:11,184
Understanding what really needs

1712
01:05:11,184 --> 01:05:13,350
to happen in our communities and

1713
01:05:13,414 --> 01:05:15,279
how our businesses conserve them.

1714
01:05:15,280 --> 01:05:17,488
And so my advice would be,

1715
01:05:17,490 --> 01:05:18,184
you know,

1716
01:05:18,184 --> 01:05:20,613
continue on your path even when it

1717
01:05:20,613 --> 01:05:23,020
gets hard or there are obstacles,

1718
01:05:23,020 --> 01:05:24,970
because there is an incredible

1719
01:05:24,970 --> 01:05:28,077
amount of value that we can create as

1720
01:05:28,077 --> 01:05:30,604
women and that we should be creating

1721
01:05:30,678 --> 01:05:32,988
as women and that can be really,

1722
01:05:32,990 --> 01:05:33,696
really powerful.

1723
01:05:33,696 --> 01:05:36,972
Part of the reason that I do what I

1724
01:05:36,972 --> 01:05:39,625
do is through the investments we've made.

1725
01:05:39,630 --> 01:05:40,998
There's been over 2500.

1726
01:05:40,998 --> 01:05:43,050
New jobs created by these women

1727
01:05:43,120 --> 01:05:44,180
business leaders.

1728
01:05:44,180 --> 01:05:46,070
And that's just the start,

1729
01:05:46,070 --> 01:05:48,716
we're only a few years in right,

1730
01:05:48,720 --> 01:05:51,359
but I think when you're a woman

1731
01:05:51,359 --> 01:05:52,113
business owner,

1732
01:05:52,120 --> 01:05:54,382
you get to decide the culture

1733
01:05:54,382 --> 01:05:55,513
of your company.

1734
01:05:55,520 --> 01:05:57,976
You get to decide if you want right

1735
01:05:57,976 --> 01:05:59,908
to have an inclusive workforce

1736
01:05:59,908 --> 01:06:02,392
and culture and how you create

1737
01:06:02,392 --> 01:06:04,600
that within your own company.

1738
01:06:04,600 --> 01:06:07,057
And I'm really optimistic as we have

1739
01:06:07,057 --> 01:06:09,008
more women leaders leading these

1740
01:06:09,008 --> 01:06:11,498
companies that we can actually create a

1741
01:06:11,500 --> 01:06:13,265
Much more equitable and inclusive

1742
01:06:13,265 --> 01:06:15,501
workforce that will be better for

1743
01:06:15,501 --> 01:06:17,157
ourselves and future generations,

1744
01:06:17,160 --> 01:06:19,813
and I think that's really the power

1745
01:06:19,813 --> 01:06:22,466
you have as a woman, business owner.

1746
01:06:22,466 --> 01:06:24,824
And I would really encourage you

1747
01:06:24,824 --> 01:06:27,440
all to harness it an even when

1748
01:06:27,440 --> 01:06:28,840
the days get really,

1749
01:06:28,840 --> 01:06:31,276
really tough to just keep pushing

1750
01:06:31,276 --> 01:06:34,059
and keep going because what each of

1751
01:06:34,059 --> 01:06:36,231
you are doing is really important

1752
01:06:36,231 --> 01:06:39,106
and you know there's a lot of people

1753
01:06:39,106 --> 01:06:41,698
that are trying to build support systems.

1754
01:06:41,698 --> 01:06:44,020
Like ourselves and the other panelists

1755
01:06:44,089 --> 01:06:46,630
on this call to really support women

1756
01:06:46,630 --> 01:06:48,270
entrepreneurs and their journey.

1757
01:06:48,270 --> 01:06:52,020
And we're here for you and we want you to,

1758
01:06:52,020 --> 01:06:52,806
you know,

1759
01:06:52,806 --> 01:06:55,164
win and create the things that

1760
01:06:55,164 --> 01:06:56,520
you want to do.

1761
01:06:56,520 --> 01:07:00,139
So I want to just give it a little bit more

1762
01:07:00,139 --> 01:07:03,268
of an optimistic lens because there is,

1763
01:07:03,270 --> 01:07:04,016
you know,

1764
01:07:04,016 --> 01:07:06,254
this newgard of women LED businesses

1765
01:07:06,254 --> 01:07:08,234
that are thriving and overcoming

1766
01:07:08,234 --> 01:07:10,943
the obstacles that all of us face

1767
01:07:11,011 --> 01:07:13,524
and we just need to be right

1768
01:07:13,524 --> 01:07:14,601
resilient and tenacious.

1769
01:07:14,610 --> 01:07:17,666
Because there needs to be more of us,

1770
01:07:17,670 --> 01:07:20,850
and when there is more of us we can do

1771
01:07:20,937 --> 01:07:24,537
things like re invest that wealth into you

1772
01:07:24,540 --> 01:07:25,686
Know, crowdfunding campaigns

1773
01:07:25,686 --> 01:07:27,596
of other women LED businesses,

1774
01:07:27,600 --> 01:07:29,980
we can Angel invest into other women

1775
01:07:29,980 --> 01:07:31,879
LED businesses and become investors

1776
01:07:31,879 --> 01:07:34,327
ourselves as we've created that own

1777
01:07:34,327 --> 01:07:36,378
wealth within our own businesses.

1778
01:07:36,380 --> 01:07:38,678
So keep going and you know,

1779
01:07:38,680 --> 01:07:42,054
know that your intuition and your unique

1780
01:07:42,054 --> 01:07:45,369
perspective is really valuable and important.

1781
01:07:45,370 --> 01:07:46,423
Thank you Elizabeth.

1782
01:07:46,423 --> 01:07:49,480
And so before I move on to Corrine,

1783
01:07:49,480 --> 01:07:52,007
I wanted to remind everyone to continue

1784
01:07:52,007 --> 01:07:54,895
to please send your questions in and that

1785
01:07:54,895 --> 01:07:57,710
we can continue to answer your questions.

1786
01:07:57,710 --> 01:08:00,788
We have about 10 more minutes or actually 7

1787
01:08:00,788 --> 01:08:03,496
minutes in this particular program and so

1788
01:08:03,496 --> 01:08:06,310
please continue to send in your questions.

1789
01:08:06,310 --> 01:08:07,156
So Corrine.

1790
01:08:07,156 --> 01:08:10,540
Do you have anything else to add to

1791
01:08:10,639 --> 01:08:13,765
what Elizabeth and Ruth have said?

1792
01:08:13,770 --> 01:08:16,227
No, I I love what's already been

1793
01:08:16,227 --> 01:08:18,105
said and especially the optimism

1794
01:08:18,105 --> 01:08:19,985
and Elizabeth is so right.

1795
01:08:19,990 --> 01:08:22,041
That's where I want to connect is

1796
01:08:22,041 --> 01:08:24,415
that there are more women entering

1797
01:08:24,415 --> 01:08:25,849
the entrepreneurship cycle.

1798
01:08:25,850 --> 01:08:27,720
Right now they're they're exiting

1799
01:08:27,720 --> 01:08:29,216
the workforce because they're

1800
01:08:29,216 --> 01:08:30,970
finding it's not flexible enough.

1801
01:08:30,970 --> 01:08:32,800
They're looking to have more

1802
01:08:32,800 --> 01:08:34,264
control over their destiny.

1803
01:08:34,270 --> 01:08:36,874
They're looking to take part in the

1804
01:08:36,874 --> 01:08:38,659
entrepreneurial dream more than ever,

1805
01:08:38,660 --> 01:08:40,942
and so we are seeing more opportunities

1806
01:08:40,942 --> 01:08:43,618
for women who are entering into spaces

1807
01:08:43,618 --> 01:08:46,060
that are traditionally occupied by women.

1808
01:08:46,060 --> 01:08:48,448
And not traditionally occupied by women,

1809
01:08:48,450 --> 01:08:51,880
you asked what were some of the

1810
01:08:51,880 --> 01:08:55,148
areas where we're not seeing women?

1811
01:08:55,150 --> 01:08:55,519
Traditionally,

1812
01:08:55,519 --> 01:08:57,733
we haven't been seeing very many

1813
01:08:57,733 --> 01:09:00,030
in the defense contracting space,

1814
01:09:00,030 --> 01:09:02,280
for example, and really quite frankly,

1815
01:09:02,280 --> 01:09:04,314
federal contracting is still one

1816
01:09:04,314 --> 01:09:06,958
of the areas that there's so much

1817
01:09:06,958 --> 01:09:09,394
opportunity there set asides for women.

1818
01:09:09,400 --> 01:09:11,450
Business is going through the

1819
01:09:11,450 --> 01:09:14,244
SBA's program to be certified as a

1820
01:09:14,244 --> 01:09:16,248
woman owned small business is just

1821
01:09:16,248 --> 01:09:18,030
one step of the process.

1822
01:09:18,030 --> 01:09:19,530
There are other opportunities

1823
01:09:19,530 --> 01:09:21,030
out there as well,

1824
01:09:21,030 --> 01:09:23,280
to be a sub contractor before

1825
01:09:23,280 --> 01:09:25,077
ever becoming a prime, but.

1826
01:09:25,077 --> 01:09:26,562
But I wouldn't necessarily go

1827
01:09:26,562 --> 01:09:28,045
after an industry just because

1828
01:09:28,045 --> 01:09:29,989
there aren't a lot of women in it.

1829
01:09:29,990 --> 01:09:32,078
I think if that's where the drive is,

1830
01:09:32,080 --> 01:09:33,646
and that's where the talent is,

1831
01:09:33,650 --> 01:09:35,228
then that's where you should go.

1832
01:09:35,230 --> 01:09:36,742
But we are seeing more and

1833
01:09:36,742 --> 01:09:38,110
more women occupy those areas,

1834
01:09:38,110 --> 01:09:38,890
and that's exciting.

1835
01:09:47,580 --> 01:09:48,840
Hope I think you're on mute.

1836
01:09:52,530 --> 01:09:54,510
OK sorry, thank you, Corrine.

1837
01:09:54,510 --> 01:09:57,542
Let's move on to a couple of success

1838
01:09:57,542 --> 01:10:00,600
stories and I think success stories are

1839
01:10:00,600 --> 01:10:02,994
Things that all of you have experienced,

1840
01:10:03,000 --> 01:10:04,715
and so we're going to

1841
01:10:04,715 --> 01:10:06,087
actually start with you Corrine.

1842
01:10:06,090 --> 01:10:07,992
What are some of the success

1843
01:10:07,992 --> 01:10:10,341
stories that you can share and what

1844
01:10:10,341 --> 01:10:12,363
do you think made their funding

1845
01:10:12,363 --> 01:10:14,317
story of particular a success?

1846
01:10:16,470 --> 01:10:19,215
Yeah, so I I spent in preparing for this

1847
01:10:19,215 --> 01:10:21,649
panel today preparing for all of you.

1848
01:10:21,650 --> 01:10:23,535
I looked through literally hundreds

1849
01:10:23,535 --> 01:10:25,767
of success stories because I wanted

1850
01:10:25,767 --> 01:10:28,071
to find the right one that I thought

1851
01:10:28,071 --> 01:10:30,189
spoke to all of the the greatest

1852
01:10:30,189 --> 01:10:32,294
strengths of this panel and the message

1853
01:10:32,294 --> 01:10:34,850
is today an I found the perfect one

1854
01:10:34,850 --> 01:10:37,146
and you can actually see their website

1855
01:10:37,146 --> 01:10:39,477
and see that there in the middle

1856
01:10:39,477 --> 01:10:41,435
route of a crowd funding campaign

1857
01:10:41,435 --> 01:10:43,505
Right now it's an equity crowdfunding

1858
01:10:43,505 --> 01:10:45,570
campaign and the company is called

1859
01:10:45,570 --> 01:10:48,562
Neboso N like Nancy AB like Boy

1860
01:10:48,562 --> 01:10:51,765
OS like Sam o.com Novo so no Boso

1861
01:10:51,765 --> 01:10:54,832
was started by a woman who was

1862
01:10:54,832 --> 01:10:58,101
inspired by her drive to be healthy.

1863
01:10:58,110 --> 01:11:00,225
Her travels an understanding that

1864
01:11:00,225 --> 01:11:02,792
stimulating our bodies is what stimulates

1865
01:11:02,792 --> 01:11:05,473
our nervous system can make us healthier

1866
01:11:05,473 --> 01:11:08,556
and so she created these really exciting.

1867
01:11:08,560 --> 01:11:12,142
I don't know how to describe it like a

1868
01:11:12,142 --> 01:11:15,718
bumpy texture to an insole in your shoe.

1869
01:11:15,720 --> 01:11:17,936
Or a bumpy texture on a floor mat

1870
01:11:17,936 --> 01:11:20,680
or a floor tile standing on those

1871
01:11:20,680 --> 01:11:22,368
makes you stand taller,

1872
01:11:22,370 --> 01:11:24,120
it it corrects your posture,

1873
01:11:24,120 --> 01:11:24,993
it can it.

1874
01:11:24,993 --> 01:11:27,774
She has all kinds of blogs and all kinds

1875
01:11:27,774 --> 01:11:30,446
of studies out there about how it can

1876
01:11:30,518 --> 01:11:33,218
help with neuropathy with oh children.

1877
01:11:33,220 --> 01:11:35,320
It helps them with their brain,

1878
01:11:35,320 --> 01:11:37,770
you know, signals and learning to walk.

1879
01:11:37,770 --> 01:11:39,520
It can help with therapy.

1880
01:11:39,520 --> 01:11:40,920
Recovering from an injury.

1881
01:11:40,920 --> 01:11:42,670
It can help with athletes.

1882
01:11:42,670 --> 01:11:44,992
There are all types of different

1883
01:11:44,992 --> 01:11:47,109
textures and things to try so.

1884
01:11:47,110 --> 01:11:49,679
Here we are a woman who's got

1885
01:11:49,679 --> 01:11:51,250
something that's registered with

1886
01:11:51,250 --> 01:11:53,235
your office that she's designed

1887
01:11:53,240 --> 01:11:53,978
The product.

1888
01:11:53,978 --> 01:11:56,192
She's launched it and just like

1889
01:11:56,192 --> 01:11:57,450
Elizabeth mentioned earlier,

1890
01:11:57,450 --> 01:11:59,772
typically the small business owners going

1891
01:11:59,772 --> 01:12:02,429
to cycle through many forms of capital.

1892
01:12:02,430 --> 01:12:04,644
That's exactly what Doctor Emily did

1893
01:12:04,644 --> 01:12:07,030
when she started out her business.

1894
01:12:07,030 --> 01:12:08,176
She bootstrapped it.

1895
01:12:08,176 --> 01:12:10,086
She got money from family.

1896
01:12:10,090 --> 01:12:12,178
She did everything that it took

1897
01:12:12,178 --> 01:12:14,689
to scrape money in borrowed money.

1898
01:12:14,690 --> 01:12:17,476
She got the idle loan from SBA.

1899
01:12:17,480 --> 01:12:18,680
Get the forgiveable loan.

1900
01:12:18,680 --> 01:12:20,480
And now she's in a live

1901
01:12:20,549 --> 01:12:21,899
crowdfunding campaign,

1902
01:12:21,900 --> 01:12:24,672
and so you can actually go to her website.

1903
01:12:24,680 --> 01:12:26,864
And if you just wanted to see what

1904
01:12:26,864 --> 01:12:29,185
one looks like and see some of the

1905
01:12:29,185 --> 01:12:31,450
things that have been referenced today,

1906
01:12:31,450 --> 01:12:32,142
like valuations,

1907
01:12:32,142 --> 01:12:32,488
etc,

1908
01:12:32,488 --> 01:12:34,910
can actually go through her website and

1909
01:12:34,972 --> 01:12:37,196
click at the very top banner where it

1910
01:12:37,196 --> 01:12:39,457
says invest it in the future of movement

1911
01:12:39,460 --> 01:12:40,995
And I'm not suggesting that

1912
01:12:40,995 --> 01:12:41,916
you necessarily invest,

1913
01:12:41,920 --> 01:12:43,873
but you just Scroll down and see

1914
01:12:43,873 --> 01:12:45,928
like how does she market herself?

1915
01:12:45,930 --> 01:12:47,778
How does she tell her story?

1916
01:12:47,780 --> 01:12:50,240
How does she talk about what

1917
01:12:50,240 --> 01:12:51,880
the investment perks are?

1918
01:12:51,880 --> 01:12:54,616
You know how many shares did she sell?

1919
01:12:54,620 --> 01:12:56,340
Then she weaves in Prot.

1920
01:12:56,340 --> 01:12:58,440
You know product messages and she

1921
01:12:58,440 --> 01:13:00,539
goes into the history and talks

1922
01:13:00,539 --> 01:13:02,447
about the successes and and how

1923
01:13:02,447 --> 01:13:04,228
much her company is grown.

1924
01:13:04,230 --> 01:13:06,975
She's up 68% growth in revenue and so I

1925
01:13:06,975 --> 01:13:09,715
just think she's got a really colorful,

1926
01:13:09,720 --> 01:13:11,430
appealing and a success story.

1927
01:13:11,430 --> 01:13:13,056
You can walk away with and

1928
01:13:13,056 --> 01:13:14,140
say that's what a

1929
01:13:14,203 --> 01:13:16,702
woman owned business who went to a

1930
01:13:16,702 --> 01:13:18,614
women's business center has walked

1931
01:13:18,614 --> 01:13:20,942
away with a really smart crowdfunding

1932
01:13:20,942 --> 01:13:22,749
campaign who's obviously super successful.

1933
01:13:24,790 --> 01:13:27,814
Thanks Corrine and my mom would be very

1934
01:13:27,814 --> 01:13:30,757
proud for me to be able to stand tall

1935
01:13:30,757 --> 01:13:33,374
when I wear those shoes that she's

1936
01:13:33,374 --> 01:13:36,198
always telling me to have good posture.

1937
01:13:36,198 --> 01:13:38,038
So over to you Ruth.

1938
01:13:38,040 --> 01:13:40,441
Do you have any success stories that

1939
01:13:40,441 --> 01:13:43,190
you can share with our audience today?

1940
01:13:43,190 --> 01:13:46,126
Yeah, so I have a really great one.

1941
01:13:46,130 --> 01:13:47,970
It's a Hispanic female founder.

1942
01:13:47,970 --> 01:13:49,810
Her name is Liz Vilardi.

1943
01:13:49,810 --> 01:13:51,590
She created a company called

1944
01:13:51,590 --> 01:13:54,207
Delete and they raised more than a

1945
01:13:54,207 --> 01:13:56,117
billion dollars using equity crowd.

1946
01:13:56,120 --> 01:13:57,776
Anything under regulation,

1947
01:13:57,776 --> 01:14:00,536
CF to improve cancer detection,

1948
01:14:00,540 --> 01:14:04,062
Delete developed a device called cyto

1949
01:14:04,062 --> 01:14:07,646
catch it enables doctors to monitor

1950
01:14:07,646 --> 01:14:10,486
cancer cells in their patients.

1951
01:14:10,490 --> 01:14:13,675
The device finds and displays tumor cells,

1952
01:14:13,680 --> 01:14:15,790
which gives oncologist a more

1953
01:14:15,790 --> 01:14:18,494
complete image of the tumor and

1954
01:14:18,494 --> 01:14:20,048
it's possible mutations.

1955
01:14:20,050 --> 01:14:22,198
This technology makes diagnosis

1956
01:14:22,198 --> 01:14:24,346
and personalized therapy possible

1957
01:14:24,346 --> 01:14:26,663
and assist with the effectiveness

1958
01:14:26,663 --> 01:14:28,997
of early treatment so you know

1959
01:14:28,997 --> 01:14:31,576
a lot of people's perception of

1960
01:14:31,576 --> 01:14:34,103
crowdfunding has come from the ether.

1961
01:14:34,103 --> 01:14:38,346
The gofund me world where a lot of people

1962
01:14:38,346 --> 01:14:41,958
use it for emergencies or crisis or

1963
01:14:41,960 --> 01:14:43,650
You know the Boston bombing?

1964
01:14:43,650 --> 01:14:44,658
I mean, Katrina,

1965
01:14:44,658 --> 01:14:45,666
you name it.

1966
01:14:45,670 --> 01:14:47,938
People go to gofund me and or they

1967
01:14:47,938 --> 01:14:50,332
are familiar with the reward base

1968
01:14:50,332 --> 01:14:52,402
which is Kickstarter and Indigogo.

1969
01:14:52,410 --> 01:14:55,532
But they don't realize that now with

1970
01:14:55,532 --> 01:14:57,939
equity crowdfunding as of last week.

1971
01:14:57,940 --> 01:15:01,812
Women and men can raise up to $5

1972
01:15:01,812 --> 01:15:05,671
million using Regulation CF and up to

1973
01:15:05,671 --> 01:15:09,951
$75 million using reggae plus so very

1974
01:15:09,951 --> 01:15:13,406
sophisticated companies with great IP,

1975
01:15:13,410 --> 01:15:14,450
for example,

1976
01:15:14,450 --> 01:15:17,570
can now go onto these platforms

1977
01:15:17,570 --> 01:15:21,219
and raise serious money to help

1978
01:15:21,219 --> 01:15:23,723
advance their medical devices,

1979
01:15:23,730 --> 01:15:26,020
Their technology,

1980
01:15:26,020 --> 01:15:27,547
A franchise larger,

1981
01:15:27,547 --> 01:15:30,092
more established operations that they

1982
01:15:30,092 --> 01:15:33,176
may have historically had to go to a

1983
01:15:33,176 --> 01:15:36,411
bank for a loan or lease, or an Angel.

1984
01:15:36,411 --> 01:15:38,673
So we're really excited about the

1985
01:15:38,673 --> 01:15:40,758
future of equity crowdfunding,

1986
01:15:40,760 --> 01:15:45,070
especially for women and minorities, because.

1987
01:15:45,070 --> 01:15:46,320
The world is their oyster.

1988
01:15:46,320 --> 01:15:48,070
I mean this. This is a process.

1989
01:15:48,070 --> 01:15:49,320
If you do the work,

1990
01:15:49,320 --> 01:15:50,820
you have a much greater chance

1991
01:15:50,820 --> 01:15:51,820
of raising the money.

1992
01:15:54,130 --> 01:15:55,640
Thank you Ruth And Elizabeth.

1993
01:15:55,640 --> 01:15:57,888
You get us get around us out as

1994
01:15:57,888 --> 01:16:00,446
we are at the end of our program,

1995
01:16:00,450 --> 01:16:02,604
so if you wouldn't mind sharing

1996
01:16:02,604 --> 01:16:05,248
the success story in any last words

1997
01:16:05,248 --> 01:16:07,143
that you might possibly have.

1998
01:16:07,150 --> 01:16:09,208
Amazing, I'd love to share success

1999
01:16:09,208 --> 01:16:12,164
story kind of building off of Ruth And

2000
01:16:12,164 --> 01:16:14,069
individuals serving the cancer community.

2001
01:16:14,070 --> 01:16:16,408
We have a company in our portfolio

2002
01:16:16,408 --> 01:16:18,070
called Cherry Blossom Intimates.

2003
01:16:18,070 --> 01:16:20,618
It was founded by two black women,

2004
01:16:20,620 --> 01:16:21,649
Doctor Regina Hampton,

2005
01:16:21,649 --> 01:16:24,884
who was one of the first black women to

2006
01:16:24,884 --> 01:16:27,170
actually have her own surgical center.

2007
01:16:27,170 --> 01:16:28,985
She's a breast cancer surgeon

2008
01:16:28,985 --> 01:16:30,074
and Jasmine Jones,

2009
01:16:30,080 --> 01:16:33,440
who she was actually Miss DC.

2010
01:16:33,440 --> 01:16:36,536
And the two of them have created this

2011
01:16:36,536 --> 01:16:38,322
incredibly innovative company that

2012
01:16:38,322 --> 01:16:40,667
serves women breast cancer survivors,

2013
01:16:40,670 --> 01:16:43,774
so they are able to create 3D printed

2014
01:16:43,774 --> 01:16:45,989
prosthetics for breast cancer survivors

2015
01:16:45,989 --> 01:16:49,167
in 36 different skin tones and colors.

2016
01:16:49,170 --> 01:16:50,436
Before you know,

2017
01:16:50,436 --> 01:16:52,546
traditionally prosthetics or only come

2018
01:16:52,546 --> 01:16:55,155
in two colors which obviously don't

2019
01:16:55,155 --> 01:16:57,687
fit the wide range of individuals

2020
01:16:57,764 --> 01:17:00,218
that are dealing with breast cancer,

2021
01:17:00,220 --> 01:17:03,196
and they are able to use 3D scanning

2022
01:17:03,196 --> 01:17:06,249
technology to actually scan and individuals.

2023
01:17:06,250 --> 01:17:08,518
Chest wall and create a prosthetic

2024
01:17:08,518 --> 01:17:11,158
that looks like you know your body,

2025
01:17:11,160 --> 01:17:12,294
your skin tone.

2026
01:17:12,294 --> 01:17:14,207
Even you know freckles, veins,

2027
01:17:14,207 --> 01:17:16,589
anything that makes you feel you

2028
01:17:16,589 --> 01:17:19,211
know you've lost a part of yourself

2029
01:17:19,211 --> 01:17:21,750
and this helps you feel whole again.

2030
01:17:21,750 --> 01:17:23,725
In these prosthetics are actually

2031
01:17:23,725 --> 01:17:26,492
covered by insurance and as a breast

2032
01:17:26,492 --> 01:17:28,302
cancer survivor you're also able

2033
01:17:28,302 --> 01:17:30,547
to get special bras that promote

2034
01:17:30,547 --> 01:17:33,081
healing and don't have you know things

2035
01:17:33,090 --> 01:17:35,382
like wires and whatnot that could

2036
01:17:35,382 --> 01:17:37,300
actually re exacerbate you know.

2037
01:17:37,300 --> 01:17:39,586
The cancer growth in your body,

2038
01:17:39,590 --> 01:17:42,264
so they are also able to provide,

2039
01:17:42,270 --> 01:17:43,000
you know,

2040
01:17:43,000 --> 01:17:45,190
specialized bras that fit all sizes

2041
01:17:45,190 --> 01:17:47,916
of women because also a lot of

2042
01:17:47,916 --> 01:17:49,841
traditional providers of these only

2043
01:17:49,915 --> 01:17:52,955
have a very specific size range that doesn't,

2044
01:17:52,960 --> 01:17:53,724
you know,

2045
01:17:53,724 --> 01:17:56,016
fit the entire range of women.

2046
01:17:56,020 --> 01:17:58,486
So they have built this incredibly

2047
01:17:58,486 --> 01:18:00,585
inclusive tech enabled company to

2048
01:18:00,585 --> 01:18:02,515
serve breast cancer survivors and

2049
01:18:02,515 --> 01:18:04,784
they actually started as a single

2050
01:18:04,784 --> 01:18:07,094
store in Maryland right outside of DC,

2051
01:18:07,100 --> 01:18:09,140
where there's the largest prevalence

2052
01:18:09,140 --> 01:18:10,364
of breast cancer.

2053
01:18:10,370 --> 01:18:12,452
In the country and they started

2054
01:18:12,452 --> 01:18:14,535
as this retail model and they

2055
01:18:14,535 --> 01:18:16,712
actually were able to get a bank,

2056
01:18:16,720 --> 01:18:18,886
small business bank loan to start

2057
01:18:18,886 --> 01:18:21,006
their company after they had been

2058
01:18:21,006 --> 01:18:22,836
bootstrapping it and when we met

2059
01:18:22,836 --> 01:18:25,067
the two founders we also we said,

2060
01:18:25,070 --> 01:18:27,394
you know this is bigger than just,

2061
01:18:27,400 --> 01:18:28,024
you know,

2062
01:18:28,024 --> 01:18:29,896
the city in Maryland and Community

2063
01:18:29,896 --> 01:18:31,805
or serving women all over the

2064
01:18:31,805 --> 01:18:33,641
country and perhaps the world could

2065
01:18:33,705 --> 01:18:35,750
really benefit from this technology.

2066
01:18:35,750 --> 01:18:37,694
How can we use technology to

2067
01:18:37,694 --> 01:18:39,795
actually scale this into right a

2068
01:18:39,795 --> 01:18:41,630
billion dollar business where women

2069
01:18:41,630 --> 01:18:43,718
from the comfort of their homes?

2070
01:18:43,720 --> 01:18:46,618
You know can get these prosthetics in

2071
01:18:46,618 --> 01:18:49,477
bras and services they need as part

2072
01:18:49,477 --> 01:18:52,246
of their health care services and so

2073
01:18:52,246 --> 01:18:54,948
we invested as a venture capital firm.

2074
01:18:54,950 --> 01:18:57,320
We also utilized our Angel investing

2075
01:18:57,320 --> 01:18:59,380
community fempire to get many

2076
01:18:59,380 --> 01:19:01,036
aligned women Angel investors

2077
01:19:01,036 --> 01:19:03,106
as investors into the company

2078
01:19:03,176 --> 01:19:05,175
as, well, we help facilitate an

2079
01:19:05,175 --> 01:19:07,505
introduction to one of the top

2080
01:19:07,505 --> 01:19:09,790
business accelerators in the country.

2081
01:19:09,790 --> 01:19:11,750
Techstars for the company Cherry

2082
01:19:11,750 --> 01:19:14,216
Blossom Intimates to go through the

2083
01:19:14,216 --> 01:19:15,956
Techstars Accelerator program and

2084
01:19:15,956 --> 01:19:18,131
also receive an investment there.

2085
01:19:18,140 --> 01:19:20,276
And after that they actually raised

2086
01:19:20,276 --> 01:19:22,629
a $1.2 million venture capital round,

2087
01:19:22,630 --> 01:19:24,968
which you know that are have not

2088
01:19:24,968 --> 01:19:27,640
even been 100 black women in the US

2089
01:19:27,640 --> 01:19:30,289
in all of history that have raised

2090
01:19:30,289 --> 01:19:32,724
over $1,000,000 of venture capital.

2091
01:19:32,730 --> 01:19:34,600
And that's just you know,

2092
01:19:34,600 --> 01:19:36,470
a terrible statistic that I'm

2093
01:19:36,470 --> 01:19:38,340
working on changing every day.

2094
01:19:38,340 --> 01:19:40,512
But we're really proud of this

2095
01:19:40,512 --> 01:19:42,450
company being able to close.

2096
01:19:42,450 --> 01:19:43,178
You know,

2097
01:19:43,178 --> 01:19:45,362
the $1.2 million venture funding round

2098
01:19:45,362 --> 01:19:48,135
and I'm sure in their future they

2099
01:19:48,135 --> 01:19:50,115
may do something like crowdfunding.

2100
01:19:50,120 --> 01:19:51,089
Purchase order funding.

2101
01:19:51,089 --> 01:19:53,027
We actually help them make a

2102
01:19:53,027 --> 01:19:54,782
connection to Macy's and their

2103
01:19:54,782 --> 01:19:55,814
supplier diversity program,

2104
01:19:55,820 --> 01:19:57,932
which is really awesome that they

2105
01:19:57,932 --> 01:20:00,609
do as a retailer to get new brand.

2106
01:20:00,610 --> 01:20:02,992
Ends into their stores built by

2107
01:20:02,992 --> 01:20:05,818
women and minorities who may not be

2108
01:20:05,818 --> 01:20:07,763
suppliers into big retail before,

2109
01:20:07,770 --> 01:20:09,760
so they're launching also their

2110
01:20:09,760 --> 01:20:11,750
first retail line in Macy's,

2111
01:20:11,750 --> 01:20:13,374
which is really exciting,

2112
01:20:13,374 --> 01:20:16,253
and I think that's just such a

2113
01:20:16,253 --> 01:20:18,419
great story of how by building

2114
01:20:18,419 --> 01:20:20,110
a business that serves,

2115
01:20:20,110 --> 01:20:20,890
you know,

2116
01:20:20,890 --> 01:20:23,230
a really huge need that wasn't

2117
01:20:23,230 --> 01:20:25,172
being served before and doing

2118
01:20:25,172 --> 01:20:27,699
it in a way that actually serves

2119
01:20:27,773 --> 01:20:30,377
all women can be both powerful

2120
01:20:30,377 --> 01:20:32,113
from a business perspective

2121
01:20:32,120 --> 01:20:35,950
But also an impact perspective.

2122
01:20:35,950 --> 01:20:38,239
Well thank you Elizabeth and thank you

2123
01:20:38,239 --> 01:20:40,827
so much to Ruth as well as Corrine.

2124
01:20:40,830 --> 01:20:43,286
It has been wonderful to serve at the

2125
01:20:43,286 --> 01:20:45,559
moderate are for this program and to

2126
01:20:45,559 --> 01:20:47,650
hear your wonderful words of wisdom.

2127
01:20:47,650 --> 01:20:52,520
Sean, I'm going to turn it back over to you.

2128
01:20:52,520 --> 01:20:54,536
Thank you Hope for meeting today's

2129
01:20:54,536 --> 01:20:55,880
discussion and our panelists.

2130
01:20:55,880 --> 01:20:57,806
Ruth Corrine Natalie and Elizabeth thank

2131
01:20:57,806 --> 01:21:00,248
you for providing us with your experience.

2132
01:21:00,250 --> 01:21:02,290
The insight you have and all

2133
01:21:02,290 --> 01:21:04,280
of the resources you gave us.

2134
01:21:04,280 --> 01:21:06,968
We have so much to work with now.

2135
01:21:06,970 --> 01:21:09,554
I'd also like to thank all of our

2136
01:21:09,554 --> 01:21:10,957
virtual attendees were spending

2137
01:21:10,957 --> 01:21:12,677
your time with us today.

2138
01:21:12,680 --> 01:21:14,836
I hope you'll be joining us for

2139
01:21:14,836 --> 01:21:16,380
our final Wes program.

2140
01:21:16,380 --> 01:21:16,809
Wednesday,

2141
01:21:16,809 --> 01:21:17,667
March 31st.

2142
01:21:17,667 --> 01:21:19,383
Lessons from successful women

2143
01:21:19,383 --> 01:21:21,460
entrepreneurs who will be sharing

2144
01:21:21,460 --> 01:21:23,290
their insights and best practices

2145
01:21:23,290 --> 01:21:25,190
for business during this climate.

2146
01:21:25,190 --> 01:21:27,125
For links are more information

2147
01:21:27,125 --> 01:21:29,829
about how to register for a program,

2148
01:21:29,830 --> 01:21:32,218
you can register at our website

2149
01:21:32,218 --> 01:21:33,412
uspto.gov/events while you're

2150
01:21:33,412 --> 01:21:34,870
on our events page,

2151
01:21:34,870 --> 01:21:37,438
I encourage you to check out many other

2152
01:21:37,438 --> 01:21:39,509
free virtual intellectual property,

2153
01:21:39,510 --> 01:21:41,054
education and awareness programs

2154
01:21:41,054 --> 01:21:42,984
that are available to you.

2155
01:21:42,990 --> 01:21:45,414
Two of those programs coming up

2156
01:21:45,414 --> 01:21:48,019
one today at 5:00 to 6:00 PM,

2157
01:21:48,020 --> 01:21:50,792
is our wine and IP women's history

2158
01:21:50,792 --> 01:21:53,619
in the wine industry and on April

2159
01:21:53,619 --> 01:21:55,941
1st at noon to 1:00 PM.

2160
01:21:55,950 --> 01:21:59,750
The NCEAI innovation chat

2161
01:21:59,750 --> 01:22:01,270
creating innovators.

2162
01:22:01,270 --> 01:22:02,845
You'll be receiving a short

2163
01:22:02,845 --> 01:22:04,105
survey for today's program,

2164
01:22:04,110 --> 01:22:06,329
so we hope that you complete it.

2165
01:22:06,330 --> 01:22:07,910
We do value your feedback.

2166
01:22:07,910 --> 01:22:10,082
Your input is important in creating

2167
01:22:10,082 --> 01:22:11,932
future programs to meet the

2168
01:22:11,932 --> 01:22:13,260
needs of our customers.

2169
01:22:13,260 --> 01:22:14,874
So we look forward to hearing

2170
01:22:14,874 --> 01:22:15,950
from you and getting

2171
01:22:16,010 --> 01:22:17,882
a response to those surveys with

2172
01:22:17,882 --> 01:22:19,418
your information and what you'd

2173
01:22:19,418 --> 01:22:21,234
like to see us do in the future.

2174
01:22:21,240 --> 01:22:22,884
Thank you again for attending today's

2175
01:22:22,884 --> 01:22:24,400
program. We look forward to seeing

2176
01:22:24,400 --> 01:22:26,459
you next week at our final program.

2177
01:22:26,460 --> 01:22:27,560
Have a great day.