WASHINGTON, DC – Today, U.S. Sen. Cory Booker (D-NJ), introduced the Strengthening Technical Assistance, Resources, and Training to Unleash the Potential of Veterans Act (STARTUP-Vets), legislation which would increase access to capital and educational resources for veterans aspiring to enter the small business sector. Veterans Day is tomorrow, Wednesday, November 11.
“Many of our nation’s veterans possess a breadth of professional skills and experience that are ideal for starting a new business. Like anyone starting a new business, veterans often lack ties to the entrepreneurial sector or concrete knowledge of the startup process.” said Senator Booker. “This bill seeks to help veterans by providing them with resources that will help them thrive as small business owners.”
Specifically, the STARTUP-Vets Act adds a provision to the Small Business Act that makes grants available to business incubators and accelerators that focus onthe veteran community. These incubators and accelerators support the transition and reintegration of veterans by providing them with the resources to climb the steep startup learning curve in a community of like-minded peers who understand their unique shared experiences and skills. Under this provision, these incubators would select veterans through a competitive process and provide training, education, mentoring, and networking to assist the selected veterans through the different stages of building their businesses.
The STARTUP-Vets Act is endorsed by
The National Guard Association of the United States
Veterans of Foreign Wars, New Jersey
GI Go Fund
Sussex County and Warren County Veterans Coalition