U.S. Small Business Administration awards grant to support veteran entrepreneurs in Pennsylvania
UNIVERSITY PARK, Pa. — The U.S. Small Business Administration (SBA) recently announced a grant award to Penn State to establish a Veterans Business Outreach Center (VBOC). The center will enhance training and counseling services for both new and existing, veteran and military spouse, small-business owners across the commonwealth.
“Veterans own nearly 55,000 businesses in Pennsylvania, and every month, more service members who are considering entrepreneurship leave the military and transition back to civilian life,” said SBA Assistant Administrator for the Office of Veterans Business Development Robert Yannuzzi. “We selected Penn State as a Veterans Business Outreach Center due to their existing connection to the veteran community and their robust entrepreneurial support across the state. The VBOC at Penn State will further the mission of all SBA VBOCs: to be a one-stop shop for veteran and military spouse entrepreneurs, no matter what stage of business ownership they’re in.”
Over $1 million in awards were announced, with organizations from Puerto Rico and Ohio also receiving awards to establish VBOCs.
VBOCs offer a range of business support services, including business planning, assistance accessing capital, government contract guidance, marketing and outreach, and training for service members, veterans, and military spouses.
“Penn State is proud to be an institution that recognizes the contributions of our veterans to our nation, honors their service and sacrifice, and supports them in their education and continued success,” said Penn State President Neeli Bendapudi. “The establishment of this new Veterans Business Outreach Center will continue Penn State’s longstanding commitment to both supporting entrepreneurs and to serving our veterans. As I often say, we are the land of the free only because we are the home of the brave.”
Among the VBOC’s flagship entrepreneurship programs are Boots to Business (B2B), a key component of the Department of Defense’s Transition Assistance Program, as well as Boots to Business Reboot and the Military Spouse Pathway to Business program. The VBOC at Penn State will participate in all B2B programs in Pennsylvania, including the quarterly B2B Classes held at the U.S. Army Carlisle Barracks in Carlisle, Pennsylvania.
The opportunity to establish this center would not have been possible without the support and leadership of U.S. Reps. GT Thompson and Chrissy Houlahan, as well as U.S. Sens. Bob Casey and John Fetterman.
“Home to more than 720,000 veterans, Pennsylvania ranks fifth nationally in veterans’ population, and demand for entrepreneurial development services is overwhelming,” wrote Thompson and Houlahan in their letter of support. “[…] A Penn State VBOC will supply the resources and expertise necessary to effectively transition our service members into business owners and increase new venture success rates across Pennsylvania.”
“With 96% of Pennsylvanians residing within 30 miles of one of 21 Invent Penn State LaunchBox business services hubs, we believe the University is uniquely positioned to reach veteran entrepreneurs and military families in all regions of the commonwealth,” wrote Fetterman and Casey in their letter of support.
Annie Hughes, the statewide coordinator of the Invent Penn State LaunchBox & Innovation Network, will serve as the interim director for the VBOC until a permanent candidate is hired. The center will be housed in the Penn State Office of Entrepreneurship and Commercialization within the Office of the Senior Vice President for Research and will be centrally located at Innovation Park at Penn State. VBOC will be integrated into Pennsylvania’s ecosystem of entrepreneurial support resources, including the Small Business Development Centers, Women’s Business Centers, SCORE, and Penn State’s statewide network of entrepreneurial resources coordinated through the Invent Penn State initiative.
“We’re eager to get this center up and running. By leveraging our many valued resource partners and our LaunchBox & Innovation Network locations already embedded in communities across the state, we can ensure that these valuable VBOC resources reach the areas where they are most needed,” said James Delattre, associate vice president for research and director of the Office of Entrepreneurship and Commercialization. “We are excited to provide the veteran community in Pennsylvania with this added layer of business support.”
Details about the official opening of the center will be announced soon.
In celebration of National Veteran Small Business Week, the Penn State Small Business Development Center (SBDC) will host the Boots to Business Reboot program as part of Global Entrepreneurship Week Penn State. The one-day course will take place on Friday, Nov. 15 from 8 a.m. to 4:30 p.m. in room 612 of the Eric J. Barron Innovation Hub. Learn more and register here.
About Veterans Business Outreach Centers
The Veterans Business Outreach Center (VBOC) program is a U.S. Small Business Administration initiative lead by its Office of Veterans Business Development and spans across the country with 31 VBOC locations. This small business program features a number of success stories and offers business plan workshops, concept assessments, mentorship, and training for eligible veterans. Find your nearest center.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.