The Dayton region’s largest employer recently held a roundtable with veteran entrepreneurs to discuss their unique challenges.
Wright-Patterson Air Force Base (WPAFB) invited five local military veterans or spouses of veteran entrepreneurs to the base to discuss their businesses. The U.S. Patent and Trademark Office hosted the event in collaboration with the Department of Defense's Office of Personnel & Readiness (DPR).
The local entrepreneurs raised several questions about what resources were available to veteran entrepreneurs nationwide and how that lack of resources has impacted their business.
Roundtable participants at the July 22 event at Wright-Patterson Club were:
- Alicia Brown, owner and teacher for Write with Mrs. Brown LLC, a spouse of a military veteran.
- Ryan Kramer, president and founder of MinedXai, which provides customers with explainable artificial intelligence. Kramer previously worked for the Air Force Research Laboratory.
- Nicholas Ripplinger, a former soldier and president of Battle Sight Technologies, which provides products intended for military usage as well as first responder and emergency maintenance teams.
- Lisa Coker, a veteran and wife of a veteran, is the founder and CEO of Infinite Management Solutions, which works alongside company leaders to transform their business.
- Tim Shaw, a former marine and FBI agent, is the founder of Smart Response Technologies, creating a cloud-based service for first responders.
- Ashish Vazarani, the undersecretary of DPR.
- Derris Banks, regional director for U.S Patent and Trademark Office.
One of the main struggles veteran entrepreneurs have coming out of the military is a lack of a solid base to begin on. Prospective business owners in the veteran-owned sector are unsure what it takes to start a business or what resources businesses have available to them.
“What is working capital, and how do I get that capital to sustain the workforce I’ve hired while I wait for the government contracts to pay out?” Coker said. “Access to capital will be a huge value add to veterans and spouses as they get into business."
Coker suggested a workshop or entrepreneur boot camp that shows important information, such as what banks or organizations to reach out to, could be critical for filling the gap.
Brown agreed, saying many veterans and their spouses are unsure what resources are available to them. She said resources should be easy to access and clearly defined.
Brown says grants and loans would be extremely beneficial for anyone who may be starting out or who may want to expand. She said having access to some form of funds would relieve some of the burdens faced by businesses.
“The fact that senior leaders in the Department of Defense are willing to sit down and listen to small businesses was a really big takeaway,” Ripplinger said after the event.
The U.S. Patent and Trademark Office also announced plans to hold a large-scale veteran entrepreneurship event sometime in October.
