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Edison Nation CEO Louis Foreman on how he is helping link up veterans with entrepreneurs to help turn their ideas into new businesses.
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Look it's a punishing job market for a lot of Americans but for returning US troops.
It really shows little sign of these enough with the unemployment rate from recent veterans lacking at ten point 3%.
Vs the national average.
Up eight point 2%.
It's very high but -- chairman and CEO of -- nation.
Is linking up on nation's heroes with some of the country's brightest entrepreneurs to help them get jobs great idea.
Lewis joins us now what is spy -- is to Begin this program -- how successful has a billion -- We know that veterans are uniquely qualified to be entrepreneurs in -- 45%.
Veterans or their forty -- some more likely to be on skewers and just ordinary people.
And so we've tried to do with -- nation is attract great ideas from people who got an idea -- product but don't know what to do with that.
And put in the hands of either companies or veterans who can actually bring this product from mark.
So in essence you're linking.
Groups together with big ideas that could make money explain how it works and what the criteria are.
Two who let veterans come on board.
You have you what we're looking for about 11%.
Americans.
Are entrepreneur -- -- means 89% have great ideas but don't know what to do with those ideas and so.
We attract those ideas and -- nation dot com.
And then we partner those ideas -- either leading manufacturers or in this circumstance with veterans to.
Have an interest in starting a business but lack the original idea.
While on a look at some of these products -- voting with the -- Lewis is as an example of these ideas actually.
Came to fruition and have done very well -- each one of these products started out as an idea.
The person behind the idea didn't know how to start a business surrounded -- news they had a great idea and they needed.
-- let me just -- about the Yankees explain the story behind this and how many boxes were sold how much money was made from a single idea from a housewife.
In suburban housewife Betsy Kaufman hated to appeal to shell off of -- hard -- that she sent try to get Edison nation.
We turned her idea into a product -- last year we manufactured 33 million little less so five point five million boxes that what mix of veterans uniquely qualified to be part of these kinds of fighting Axel veterans understand risk their discipline they have the unique skill set to really be successful but in many cases they lack the original idea what kind of business so they -- -- go start.
So it Edison nation what we thought was this was a perfect fit.
We've got lots of remnants intellectual property great ideas that don't have a home and we're gonna partner those would veterans who can go on start businesses.
A lot of it that's great and you're doing incredibly important work something if you look I think our nation's veterans and they are motivated workforce ready to go absolutely Louis Foreman has the CEO of -- nation and if you're a veteran up there with an idea how or anybody with an idea -- to be hooked up with someone like that it's Edison nation dot com.
Great stuff Lewis.
