IVMF Awarded New $5 Million Federal Grant to Assist Small Businesses
28 October 2021 - 8:28PM
At a press conference today, the U.S. Small Business
Administration (SBA) announced that Syracuse University’s Institute
for Veterans and Military Families (IVMF) has been named as one of
only eight Tier 1 grantees, selected as part of the Biden-Harris
administration’s $100 million Community Navigator Pilot Program. As
a Tier 1 partner, the IVMF has been awarded a $5 million grant to
participate in this novel program.
The Community Navigator Pilot Program, an initiative of the
American Rescue Plan Act of 2021, is designed to deploy trusted
community partners within underserved communities across the U.S.
to coordinate the economic recovery efforts of specific
communities, including women, veterans and socially and
economically disadvantaged individuals.
The Community Navigator Pilot Program takes a “hub and spoke”
approach, featuring a lead “hub” at the center of a network of
“spoke” organizations that deploy trusted community advocates to
support small businesses hit hard by the pandemic. Of the eight
Community Navigator hubs funded, IVMF is the only hub
responsible for coordinating community-based, economic recovery for
veteran-owned small businesses. The other Tier 1 awardees include
the National Urban League, U.S. Black Chambers Economic Development
Corporation, Oweesta Corporation, U.S. Hispanic Chamber of
Commerce, U.S. Pan Asian American Chamber of Commerce Education
Foundation, International Rescue Committee and Local Initiatives
Support Corporation.
The $5 million grant over a two-year period will allow the IVMF
to support veteran and military spouse businesses with
entrepreneurship training, small business technical assistance,
loan preparation, capital readiness, corporate and federal
contracting, and networking.
“We are honored to continue our long-standing partnership with
the SBA through this new program. This is truly exciting for IVMF,
our partners and the thousands of veterans and military families we
serve every year,” says J. Michael Haynie, Ph.D., vice chancellor
for strategic initiatives and innovation, and IVMF’s founder and
executive director. “This grant recognizes the IVMF’s experience
and success in veteran entrepreneurship training programs, and our
national impact. Over the last decade we have developed a vast
network of partners dedicated to meeting the unique needs of
veterans and military-connected families both on our campus and
across the country.” Haynie noted IVMF entrepreneurship programs,
such as Boots to Business (B2B), Veteran Women Igniting the Spirit
of Entrepreneurship (V-WISE) and the Entrepreneurship Bootcamp for
Veterans (EBV), among others, have impacted more than 75,000
participants and that in the last 10 years the institute has
impacted over 160,000 in total.
During the pandemic, the IVMF also launched two new virtual
entrepreneurship programs, EBV Spark and R.I.S.E. (Resilience,
Innovate, Sustain, Evaluate), to help veteran and military spouse
entrepreneurs adapt their businesses to the current operating
environment.
In applying for the grant, the IVMF noted strong partnerships
with businesses that can help veterans achieve success. In
addition, the IVMF will be coordinating the work with key partners,
including Texas A&M, Florida State University, St. Joseph’s
University, Dog Tag Bakery and StreetShares, as well as others.
Whether through direct technical support, training or networking,
the entrepreneurs assisted by IVMF programs have demonstrated
resilience and success; 92% are still operating their business
today.
Haynie says IVMF research highlights how veterans face an array
of barriers in attempting to launch businesses, including a
fragmented ecosystem, capital readiness, difficulty navigating
resources, certification process hurdles and lack of assistance
from medical and disability service providers. He believes the new
pilot program offers a unique solution that provides a navigation
and support mechanism to strengthen the ecosystem, nurture
entrepreneurial aspirations and sustain growth and success.
“The goal is for military-connected clients to receive
efficient, timely and comprehensive access to the services and
resources they need, where they are and when they need them in
their entrepreneurial journey,” says Haynie.
About Syracuse University
Syracuse University is a private research university that
advances knowledge across disciplines to drive breakthrough
discoveries and breakout leadership. Our collection of 13 schools
and colleges with over 200 customizable majors closes the gap
between education and action, so students can take on the world. In
and beyond the classroom, we connect people, perspectives and
practices to solve interconnected challenges with interdisciplinary
approaches. Together, we’re a powerful community that moves ideas,
individuals and impact beyond what’s possible.
Josh Grossman
Syracuse University
2022279250
jmgrossm@syr.edu