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The Best 5 Resources For Veterans Starting A Tech Business



Veterans are faced with challenges in the military and when starting their businesses after service. Imagine not having the support, knowledge, and mentors to successfully start your own business. Statistics show that veterans are 45% more likely to be self-employed than non-veterans. According to the Small Business Administration, there's about one veteran-owned firm for every ten veterans, and veteran-owned firms employ 5.8 million individuals. Here's a list of companies that are helping our nation's most respected population start and successfully operate their own businesses.

1.Bunker Labs

Navigating the entrepreneurship journey can be a daunting task for our nation's heroes. In my quest to find an organization to help my tech startup network with more like-minded professionals I found Bunker Labs Jacksonville. Not only was my team and I welcomed with open arms, they understood my organizations' triumphs and obstacles. Bunker Labs is located in numerous cities across the country and provides veterans access to vital entrepreneur educational resources. Bunker Labs also helps military veteran entrepreneurs find angel investors, venture capital, and alternative investment opportunities. "Bunker Labs Jacksonville is a valuable resource to our veteran owned company. My goal is to bring our network of active and retired NFL superstars to Bunker Labs Jacksonville to engage, invest, and help accelerate the growth of veteran-owned businesses in the Northeast Florida marketplace," said Retired NFL Superstar and Technologist Drayton Florence. The fact that Bunker Labs is an alternative to government help places them high up on the list of valuable resources for our heroes. My company Tech From Vets has found Bunker Labs Jacksonville to be a much-needed resource to help veterans on their entrepreneurship journey.

2.Entrepreneurship Training for Veterans Program

Entrepreneurship Training for Veterans is facilitated by The University of North Florida and provides instruction on the essentials of successful business operations to veterans who wish to start a business or grow an existing one. The program covers writing a business plan, how to identify funding sources, and how to avoid business pitfalls among others. In addition to the conference, the program provides follow-up feedback through a combination of surveys and follow-up workshops utilizing resources such as: UNF's Small Business Development Center, faculty expertise in the Coggin College of Business entrepreneurship program, and local business experts who exclusively target federal, state and local contracts such as: 8(a) designated companies and a mentoring partnership with local veteran-owned businesses. My Vice President (Lonnell McCall) and I attended a session at UNF and found the information to be extremely helpful and beneficial to our business. The skills gained at the Entrepreneurship Training for Veterans Program has directly led to our businesses success.

3.SBA Loan Programs

The U.S Small Business Administration (SBA) has implemented a new measure to help get small business loans into the hands of veterans. This new measure sets the borrower upfront fee to zero for all veteran loans authorized under the SBA Express program up to $350,000. This initiative started on January 1st and will continue through the end of the fiscal year. Of all SBA loans that go to veterans, 73 percent are $350,000 and below. The SBA Express Loan Program, which supports loans under $350,000, is SBA's most popular loan delivery method, with nearly 60 percent of all 7(a) loans over the past decade being authorized through the program. Since the program's inception, it has also been one of the most popular delivery methods for getting capital into the hands of veteran borrowers. This program is great for veterans needing capital to get their business off the ground.


4.SCORE Veteran Fast Launch Initiative

SCORE is a nonprofit association dedicated to helping veteran small businesses get off the ground, grow, and achieve their goals through education and mentorship. They have been in business for over fifty years. Because their work is supported by the U.S. Small Business Administration (SBA), and thanks to their network of 11,000+ volunteers, they are able to deliver their services at no charge or at very low cost. The business tool and templates provided by SCORE are priceless, veterans should highly consider utilizing the tools SCORE provides via their website.


5.Entrepreneurship Bootcamp for Veterans with Disabilities

The EBV National Program is a novel, one-of-a-kind initiative designed to leverage the skills, resources and infrastructure of higher education. The EBV National Program offers cutting-edge, experiential training in entrepreneurship and small business management to post-9/11 veterans with service-connected disabilities. The program is also offered to military family members who serve in a caregiver role to a veteran with a service-connected disability. The aim of the program is to open the door to economic opportunity for veterans and their families by developing their competencies in creating and sustaining an entrepreneurial venture.