After returning to civilian life, many veterans find entrepreneurship an attractive solution to a tough job market. Given the skillset gained through military experience, many veterans have the ideas and enthusiasm for venture creation, but what they lack is support. This spring, UF’s Center for Entrepreneurship & Innovation introduced the Veterans Entrepreneurship Program (VEP), which provides a rigorous entrepreneurial learning and development opportunity for disabled veterans and those who have uniquely distinguished themselves in the military.
Dr. Michael Morris, academic director of the VEP, helped create the program at Oklahoma State University and brought the concept with him when he began working for UF in Aug. 2013.
“What we are trying to do is empower veterans through entrepreneurship to create their own futures,” Morris said. “These veterans have paid a dear price for our freedom. This is the least we can do for them.”
Out of about 80 applications received, 32 were selected for the VEP’s inaugural year. Veterans applied from all over the country and were chosen based upon the nature of their military service, any honor or recognition they received and the degree of their disability if any. More importantly, veterans are selected by how motivated they are and the business ideas proposed.
“We place big expectations on the veterans to start these ventures and follow through with them,” Morris said.
Warrington College of Business Administration’s Laura Johnson, director of entrepreneurship degree programs, said that some people participating in the program only have a high school diploma, so it’s special for them to come be in a university setting.
Dr. Morris said the similar program at Oklahoma State had a very high success rate.
“Over 70 percent of these veterans will actually start something,” he said. “Our big goal is to make this program sustainable to be able to serve more veterans.”
While the program is being held at UF, it is entirely self-funded through grants, financial contributions from alumni, in-kind donations and the donation of time by UF faculty and volunteers. It is free to veterans who are selected, but every expense, including travel to Gainesville, accommodations, meals and books, is covered by private donations.
Getting the VEP started is just the beginning. Johnson said there limited time for planning this year; however, she hopes next year will be even bigger and better.
“The more the community knows about it, the more they will be able to get involved and help us provide a very special experience for the veterans,” she said. “Obviously, the veterans are here to learn so we have the lecture part covered, but we need experienced entrepreneurs to come act as mentors or guest speakers and community members to provide Gainesville hospitality for the veterans that are in town.”
Johnson described the experience of the VEP as becoming a member of a new family. The outpouring of support participants gave one another, she said, was inspiring: They call each other brothers and sisters and support one another to ensure that they all have success to share.
Guest lecturer, sponsor and volunteer, David Whitney, said he was impressed by the enthusiasm that the veterans had for being entrepreneurs.
“Enthusiasm in entrepreneurism is good, but it doesn’t help them become successful,” he said. “What the students learned, thanks to the VEP, was the insight and the knowledge from subject matter experts about what it takes to become a successful entrepreneur.
“I have never been more proud to be a Florida Gator than by participating in the veteran’s entrepreneurship program.”