SBA Expands Entrepreneurship Boot Camp for Vets

SBA News Release
PRESS OFFICE

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SBA Expands Entrepreneurship Boot Camp for Vets
Announces Two New Programs for Women Vets, Guard, Reservists and Families

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Release Date: November 10, 2010
Contact: Dennis Byrne (202) 205-6567
Release Number: 10-63
Internet Address: http://www.sba.gov/news

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WASHINGTON – With thousands of service men and women returning from
wars in Iraq and Afghanistan, the U.S. Small Business Administration and
Syracuse University are expanding their Entrepreneurship Boot Camp for
Veterans with Disabilities (EBV) to a seventh school, Louisiana State
University, and launching two new entrepreneurship programs for women
veterans and National Guard and Reserve members and their families.

According to the SBA, nearly one quarter of veterans indicate they are
interested in starting or buying their own small business, and that percentage
is even higher among women veterans. With that in mind, the growing
partnership between SBA and Syracuse University provides training on how to
start and grow a small business to veterans, with programs targeted to
service-disabled veterans, women, National Guard and Reserve members and
their families of the wars in Iraq and Afghanistan.

“When you consider the leadership and management skills our veterans
develop while on active and reserve duty, it’s no wonder we see more of them
pursuing their dreams as entrepreneurs and small business owners,” SBA
Administrator Karen Mills said. “Through our partnership with Syracuse
University we are continuing to strengthen the tools and resources available to
them.”

“We often speak about the sacred trust we have with our service men and
women, and one way we honor that trust is ensuring they have every possible
opportunity for success,” Mills continued. “When it comes to entrepreneurship,
their success also means success in driving economic growth and creating
jobs.”

In 2009, SBA partnered with Syracuse University, providing a three-year
cooperative agreement providing funding totaling $450,000, to support the
university’s year-long EBV program on six campuses. Now in the second year
of the partnership, with SBA’s support, the “boot camp” is expanding to a
seventh campus, E.J. Ourso College of Business at Louisiana State University.
The other five campuses are: the University of Connecticut School of
Business, Mays Business School at Texas A&M, UCLA Anderson School of
Management, Florida State University’s College of Business, and the Krannert
School of Management at Purdue University.

Created and delivered by a network of some of the best business schools in
the country, it is designed to leverage the skills, resources and infrastructure
of higher education to offer experiential training in entrepreneurship and small
business management to veterans. Last year, the first year SBA partnered
with Syracuse University, 129 service-disabled veterans participated in the
program. Since the program’s inception, more than 320 wounded warriors have
graduated to date and more than 150 businesses to date have been launched
by graduates.

Additionally, SBA is also providing $2.6 million through a cooperative agreement
over three years for two new programs supporting veteran entrepreneurs. The
first, Women Veterans Igniting the Spirit of Entrepreneurship (V-WISE),
focuses on training, networking and mentorship for women veterans. The
three-day, off-site training program, online training and network support
structures will be delivered in several locations around the nation, and
anticipates serving up to 1,400 female veterans over a 36-month period.

The second new program, Operation Endure & Grow, targets National Guard
and Reserve members, their families and business partners. The goal of this
program is to mitigate the economic hardship of deployed members and their
families. The eight-week online course will focus on the fundamentals of
launching and/or growing a small business for those who will sustain the
business when the service member is deployed, injured or killed. Initially 550
individuals are expected to participate. In total V-WISE and Operation Endure
& Grow will serve over 1,950 individuals and their families.

The expansion of SBA’s partnership with Syracuse University builds on more
than $1.25 billion in loan guarantees for veterans in its flagship 7(a) and 504
programs, and through its Patriot Express loan pilot initiative. In three years
Patriot Express has supported nearly $550 million in loans to more than 6,500
veterans and spouses looking to establish or expand their small businesses.

SBA reaches out to veterans through its 68 local SBA district offices, 16
Veterans Business Outreach Centers nationwide, and its partnership with 1,000
Small Business Development Centers and some 12,000 SCORE – Counselors to
America’s Small Businesses volunteers. SBA has numerous programs creating
government contracting opportunities for vet-owned small businesses. For
more information visit www.sba.gov/vets and www.sba.gov/reservists.