A Milwaukee-based organization that helps military veterans start companies is launching a new initiative.
VETransfer is using a grant to launch VictorySpark, an initiative that will help veteran-owned business startups, Governor Scott Walker’s office reported.
Walker joined the Wisconsin Economic Development Corporation (WEDC) for a visit to VETransfer on Wednesday. In July, Walker, WEDC and The Global Accelerator Network announced a $300,000 grant for the organization.
VictorySpark is a three-month mentor-driven seed-accelerator program focused on helping companies grow. If accepted into the program, VictorySpark provides the company with $20,000 in seed funding and is given a small share in the startup company, the governor’s office said. After participants complete the program, they are given an opportunity to pitch their company to investors, members of the media and members of the community.
"In this year of the veteran, I am thrilled to be joining VETransfer and WEDC to highlight the continued progress we are making to ensure that our military veterans have the tools needed to succeed in the private sector," Governor Walker said in a statement. "With support networks military veterans will continue to be a vital part of growing Wisconsin’s economy."
VETransfer Co-founder Nick Wichert said, “We believe that our Veterans are incredible assets to the communities we live in and they are hardwired to take the risk of creating jobs and increasing the economic growth of Wisconsin."