PenFed Foundation's Veteran Entrepreneur Investment Program Announces Spring 2022 Master's Program Cohort

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Mar 30, 2022, 16:35 ET

The One-Year Intensive Accelerator Prepares Growth-Stage, Veteran-Owned Startups to Raise Investor Funds and Scale Their Companies

TYSONS, Va., March 30, 2022 /PRNewswire/ -- The PenFed Foundation, a national 501(c)3 founded by PenFed Credit Union, is proud to continue accelerating veteran-owned businesses with the announcement of the Spring 2022 cohort of the Veteran Entrepreneur Investment Program (VEIP) Master's Program. With the generous sponsorship of SOSi, a family-owned, government services integrator that works principally in the defense sector, the Spring VEIP Master's Program will prepare 10 growth-stage, veteran-owned startups to raise investor funds and scale their companies.

The Spring 2022 Master’s Program cohort participates in a weekend retreat to kick off their year-long journey.

The program kicked off with the Camp SOSi Leadership Retreat at Willing Warriors, a weekend camp that featured leadership training from PenFed and SOSi executives, as well as investor panels and problem-solving exercises. The weekend featured a number of learning sessions from veteran entrepreneurs focused on their experiences raising capital and leading a company as a veteran. The retreat also included a mentor mixer that paired cohort members with a leader in the business community who will serve as their mentor for the duration of the Master's Program.

"VEIP is proud to showcase its Master's Program and the kick-off retreat as hallmarks of our leadership in arming veteran entrepreneurs to scale strategically and sustainably," said PenFed Foundation Senior Director of Veteran Entrepreneurs Seda Goff. "Our team and our invaluable partners at both Willing Warriors and SOSi allow VEIP to offer top-notch instructional content - including investor panels and fundraising tips from successful founders of our previous cohort companies while building strong camaraderie."

The next phase of the program is a four-week due diligence boot camp focused on preparing documentation for seed-stage businesses to attract investment. The latter weeks of the boot camp prepare military entrepreneurs for pitching, meeting with investors and raising funds through multiday educational programs. Topics include traction, financials, legal, accounting, building an investor pitch deck, preparing for meetings with investors and pitch preparation.

The capstone of the program, is a VEIP "Deal Day," which will allow the 10 startups to present their products and services to a specially selected audience of investors, connecting them to tangible capital to accelerate their businesses.

This cohort brings together military veteran entrepreneurs from a variety of industries.

The PenFed Foundation VEIP Master's Program Spring 2022 cohort includes:

Master's Program participants are part of a year-long incubator, through which they receive coaching, mentorship and marketing assistance. The program is run at no cost to participants.

Since 2018, the PenFed Foundation VEIP has accelerated more than 350 veteran-owned startups and helped educate over 4,700 veteran and military spouse entrepreneurs.

Veteran and military-spouse owned and led companies who are interested in the Fall 2022 Master's Program are encouraged to apply here.

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.

SOURCE PenFed Foundation