Wisconsin Starts Seed Fund for New Veteran Owned Businesses

The Wisconsin Economic Development Commission (WEDC) has put $150,000 into a fund for start-up seed grants aimed at supporting new companies run by Wisconsin military veterans.   The investment will make Wisconsin the first state to launch such a fund to support veteran owned businesses.

The fund will be managed by Entrepreneurial Veteran Transfer, Inc.., a Milwaukee nonprofit business incubator/accelerator for U.S. Veterans, providing free services to qualifying veterans looking to start or restart their own businesses.  VETransfer’s executive management team provides the business training and knowledge veterans need in order to create a sustainable and profitable business.

VETransfer will use $100,000 of the money from the state to establish the seed fund. That $100,000 should provide an estimated 15 grants to veteran owned start-ups.  The remaining $50,000 will support efforts to market the fund to potential contributors.

VETransfer has trained nearly 300 veterans in the lean start-up methods pioneered by Silicon Valley entrepreneurs who ignore traditional business development tools like business plans. Instead they create prototypes, using customer feedback to continuously innovate and more rapidly develop their business.

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