NACCE Announces Expansion of Veteran Capital Readiness Initiative (V-CAP) in Partnership with IVMF

The National Association for Community College Entrepreneurship (NACCE) is excited to announce its partnership with Syracuse University’s D’Aniello Institute for Veterans and Military Families (IVMF) to expand the Veteran Capital Readiness Initiative (V-CAP). This initiative aims to provide crucial support to veteran entrepreneurs, especially those in rural areas, by enhancing their access to capital and offering comprehensive business training.

Supported by a $3 million grant from the U.S. Department of Commerce’s Minority Business Development Agency, V-CAP seeks to address the unique challenges faced by rural veteran business owners. These challenges include limited access to capital and labor shortfalls, which can hinder business growth and scalability. Through V-CAP, NACCE and IVMF will deliver tailored training and mentorship to help veteran entrepreneurs become financially ready for federal contracts and procurement opportunities.

“We are thrilled to partner with Syracuse University’s D’Aniello Institute for Veterans and Military Affairs to execute this transformative initiative,” said Rebecca Corbin, President & CEO of NACCE. “This program will reach thousands of underserved and aspiring entrepreneurs, advancing our vision of equity and prosperity for all through our extensive network of community colleges, universities, and HBCUs.”

Details of the Initiative

Syracuse University’s D’Aniello Institute for Veterans and Military Families has launched this innovative initiative to tackle the barriers to access for veteran business owners located in rural areas away from cities and urban development. According to the Department of Veterans Affairs, almost one-third of veterans live in rural areas compared to 19% of the nation’s non-veteran population. Like their urban or metro peers in small business, rural veteran business owners see access to capital as one of their primary barriers when trying to grow their business. Most veteran entrepreneurial support programs have been developed in urban and metro areas with denser populations.

“The IVMF has been educating, connecting, and supporting veteran and military-affiliated entrepreneurs for more than a decade,” said Dr. Mike Haynie, Syracuse University Vice Chancellor, Founder and Executive Director of the IVMF, and Executive Dean of the Martin J. Whitman School of Management. “This new award enhances pathways to capital for veteran entrepreneurs, supports the development of curriculum to educate future business owners about capital access, and facilitates research and analysis to inform policymakers and practitioners about the opportunities and challenges associated with military-connected business ownership in the U.S.”

Rural business owners face several unique challenges when trying to scale their businesses and seeking capital to fund growth. Labor shortfalls are common in rural businesses due to the smaller populations found further away from cities. When companies are looking to scale up their production, labor shortfalls can bring the entire plan to a grinding halt. The new initiative named V-CAP aims to provide capital access and financial readiness training to prepare veteran business owners for federal contracts or procurement deals with large companies. Current participants in the IVMF’s STRIVE program will have access to V-CAP with free business training and mentorship as well as technical assistance and more opportunities to connect virtually for their business needs.

Program Structure and Availability

The program will deliver custom-tailored training modules to eligible participants through the partnership with NACCE. Participants will go through a three-phase program that includes one week of online training, five weeks of in-person training, and a year of post-program support through IVMF’s expansive alumni network.

The V-CAP resource is currently available at the following NACCE colleges:

• Central Oregon Community College
• East Tennessee State University
• Hillsborough Community College
• Houston Community College
• Kaua’i Community College
• Pellissippi State Community College
• Salt Lake Community College
• University of South Florida

The program is made available to all participants of the IVMF’s Startup Training Resources to Inspire Veteran Entrepreneurships (STRIVE) program and is available to all IVMF alumni pending eligibility requirements. Those interested in learning more about this program are encouraged to visit the IVMF’s Veteran Capital Readiness Initiative page.