- Information Technology
Secret to Success:
Jim Reese knows well the help the Logan Small Business Development Center can bring. He's worked with the SBDC since 1981. An imaginative and hardworking person, Reese uses SBDC services to bring his inventions to life.
After having two major inventions stolen, the SBDC suggested Reese work with Utah State University. The SBDC helped him negotiate a deal to get 60 percent of the royalty. USU would find a licensee, file the patents and protect his inventions. SBDC staff also helped with other issues, including strategy, pricing, a business plan and financial projections.
Reese always has several projects going on at once and is working on other inventions as well. Two inventions Reese has completed are: Camp Guard, which detects something trespassing into a site, whether a camp, construction site, or swimming pool; and a back flow device that will stop back ups 100 percent of the time. USU licensed both inventions to a private company for manufacturing and selling.
Because of the SBDC's help, Reese wanted to give back. He chose the USU Extension as the recipient of a large portion of USU's royalty, which starts arriving in 2012. The first priority would be funding the Logan SBDC. It's that giving, entrepreneurial attitude that has gotten Reese where he is now. He had to ignore naysayers and keep working through glitches in the prototypes. He said looking at the competition, staying positive and visiting the SBDC are keys to success.
The Utah SBDC network is comprised of 11 regional centers hosted by Utah colleges and universities. The centers serve entrepreneurs and small businesses across the state. The centers are funded in part through a cooperative agreement with the U.S. Small Business Administration.