Some of the greatest entrepreneurs have been war veterans. Just look at Fred Smith, who created FedEx FDX +1.16% (FDX). He served in the US Marine Corps from 1966 to 1969 (he flew on over 200 combat missions in Vietnam and received the Silver Star, Bronze Star and two Purple Hearts). In fact, Smith thought his experience with logistics was critical for his entrepreneurial success.
So with many veterans now looking for opportunities, why not explore a startup? Well, according to Craig Hanson, who is a venture partner at Next World Capital, he is making this a priority. To this end, he has setup VetCap, which was launched last week.
“An SBA study shows that veterans are 45% more likely to start their own business,” said Craig. “But one of the foremost challenges for these entrepreneurs is knowing where and how to raise the capital they need for their business. This is something I know a bit about.”
VetCap plans to rollout workshops across the US, which will include many top venture capitalists and entrepreneurs. At the inaugural event in San Francisco, for example, some of the attendees were Katherine Webster, Executive Director and Founder of VetsinTech; David Mayhew, Chief Risk Officer of GE Ventures; and Kevin Laws, COO/Angel Investor of AngelList.
“As we started getting the word out about the event,” said Craig, “the response from the veterans community was amazing. Veterans were passing the news around, and some even flew in for the event. Originally we hoped to get 30 veteran entrepreneurs to attend; we ended up with a packed house of 80 people.”
While the event was focused on the tech market, this will not necessarily be the case for others. “The topic will change based on the area,” said Craig.
In fact, VetCap is kind of like the concept of open-source software! That is, the platform is easy to setup and customize in any city.
“The main takeaway was that VetCap has hit upon a huge need,” said Craig, “and we’re working on rolling out the next workshops.”
Debbie Gregory, CEO
MilitaryConnection.com
(800)-817-3777 or (805) 306-0580 x124
debbieg@militaryconnection.com
Founder, VAMBOA.org – Veteran and Military Business Owners Association
2013 Commitment To Service Award – Give An Hour
2011 Spirit of Small Business Award – Pacific Coast Business Times
2009 Woman Business Owner of the Year, NAWBO, Ventura County
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