PenFed Foundation Announces Winner and Finalists for Ignition Challenge Presented by MidCountry Bank

TYSONS, Va. and MINNEAPOLIS, July 8, 2021 /PRNewswire/ -- The PenFed Foundation, a national 501(c)3 founded by PenFed Credit Union, today proudly announced Next Global Security Inc. as the winner of the PenFed Foundation Ignition Challenge presented by MidCountry Bank. Burn Pit BBQ, DenScore Inc., Little Cardinals Nature School and Navy Paddles also qualified as finalists in the challenge.

"PenFed Foundation is proud to support veteran-owned businesses across the Midwest through the PenFed Foundation Ignition Challenge," said PenFed Foundation President and retired U.S. Army General John W. Nicholson, Jr. "We would like to thank the generosity of MidCountry Bank for helping make this ignition challenge possible. The quality of the proposals we received was astounding and we look forward to seeing what the future holds for these five finalists."

Each of these businesses received a $15,000 grant and had the opportunity to pitch to a panel consisting of PenFed Foundation and MidCountry Bank leadership. The winner of the pitch competition, Next Global Security, will also receive a full length promotional video and publicity from PenFed Credit Union.

This challenge supports veterans, active duty, guard, reserve, and military spouse entrepreneurs located in Iowa, Minnesota, North Dakota, South Dakota, and Wisconsin by inviting them to identify their business impact and goals, and providing the top businesses with funding and mentorship.

The PenFed Foundation Veteran Entrepreneur Investment Program (VEIP) received over 60 proposals for new businesses and ideas. The VEIP Selection Committee selected the top 15 companies, which were then put up for a public vote. The community decided that BurnPit BBQ, DenScore Inc., Little Cardinals Nature School, Navy Paddles, and Next Global Security Inc. were their favorite businesses out of the top 15.

Burn Pit BBQ was founded by U.S. Marine Corps veteran Greg Fischer in August 2020 and offers grilling and barbecuing tips, techniques, and products to aspiring backyard pitmasters. They serve delicious and all-natural barbecue sauces and spices throughout Wisconsin and Illinois, all while continuing to give back to military and veteran non-profit organizations.

DenScore Inc., a company dedicated to giving the consumer the best and most personalized dentist experience, was founded Dr. Kyle Gernhofer, a U.S. Navy veteran. The company uses artificial intelligence to help military families and everyone else find the most desirable dentists within their dental plan, taking into account cost, mental and physical health, and patient experience.

Little Cardinals Nature School is a nature-based childcare center in Brodhead, Wisconsin founded by Air Force National Guardswoman Chelsea Andrews. She has a passion for outdoor-based education and believes that children learn and thrive best when they are outside. Particularly during the COVID-19 pandemic, Andrews noticed that there is an extreme need for childcare services and she hopes to alleviate that need in her community.

Navy Paddles, founded by U.S. Navy veteran Kyle Nyseth, offers hand-crafted, high-quality memorabilia, paddles, plaques, coin boxes, and carriers to honor and recognize someone's achievement and military service that means more than just a card. Based in Fall Creek, Wisconsin, Navy Paddles has sold over 10,000 pieces of memorabilia so far.

Next Global Security Inc. provides security guards and patrol services for businesses and government in Minnesota, Iowa, Nebraska and Florida. Founded by U.S. Marine Corps veteran Barma Malekebu in Minneapolis, his company uses military experience to train and ensure their clients are getting the most effective security possible with the best defensive tactics, patrol techniques, and customer service.

In addition to funding, VEIP staff is providing coaching and support to the five finalists to help each fine-tune their businesses and to further position them for future success.

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.

About MidCountry Bank
MidCountry Bank is a full-service bank headquartered in Bloomington, MN. With 13 branch locations in Minnesota, MidCountry actively engages in its communities to provide high quality, diversified financial services and solutions for consumer and business clients. A comprehensive scope of banking, cash management, equipment leasing, insurance and investment products, tools and services make MidCountry Bank a solid financial ally. Visit www.MidCountry.bank to learn more.

SOURCE PenFed Foundation