TYSONS, Va., Jan. 14, 2021 /PRNewswire/ -- The PenFed Foundation, a national 501(c)3 founded by PenFed Credit Union, today announced the launch of the Veteran Entrepreneur Investment Program (VEIP) Military Women Startup Accelerator. The program prepares and empowers military women-run startups and small businesses through a free workshop series focused on business development that will culminate in a pitch competition at the Military Influencer Conference May 5-7, 2021.
The program's workshop series will help prepare women military veterans, reservists, National Guard, active duty and spouses through business-focused education, business development and scaling strategies, access to resources and pitch preparation and coaching that inspires and prepares them to start and grow their businesses. The workshop series begins on January 14 and will be held for six consecutive Thursdays from 12:00 – 1:30 p.m. E.T.
Those interested in future sessions can register here. Women entrepreneurs who participate in five out of six workshops will have the opportunity to participate in the Military Influencer Conference pitch competition.
"The PenFed Foundation is proud to launch the Military Women Startup Accelerator and we look forward to continuing to support military female entrepreneurship," said PenFed Foundation President and retired U.S. Army Gen. John W. Nicholson, Jr. "The country has seen a tremendous surge among women-veteran-founded businesses, but the flow of investment capital has not been equitably distributed. We are working hard to close that gap."
In addition to the six workshops, the accelerator will include a private speaker series featuring a number of military women. The final pitch competition, held during the Military Influencer Conference in San Antonio, will award the first place finisher with $15,000, second place with $10,000 and third place with $5,000.
Founded in 2018, VEIP has a three-pronged approach to create a robust network for veteran-owned start-ups and businesses:
- Investment of seed capital, providing access to other capital investment programs and connecting entrepreneurs to funders;
- Preparation through the Master's Program, a year-long fundraising accelerator; and
- Education through virtual and in-person Pop-Up Lab workshops.
The PenFed Foundation was created in 2001 and, since then, has provided more than $38.5 million in financial support to veterans, active-duty service members, families and caregivers.
About PenFed Foundation
Founded in 2001, the PenFed Foundation is a national nonprofit organization committed to empowering military service members, veterans and their communities with the skills and resources to realize financial stability and opportunity. It provides service members, veterans, their families and support networks with the skills and resources they need to improve their lives through programs on financial education, homeownership, veteran entrepreneurship and short-term assistance. Affiliated with PenFed Credit Union, the Foundation has the resources to effectively reach military communities across the nation, build strong partnerships, and engage a dedicated corps of volunteers in its mission. The credit union funds the Foundation's personnel and most operational costs, demonstrating its strong commitment to the programs the Foundation provides. Equal Housing Opportunity. To learn more, visit www.penfedfoundation.org.