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FAQs
Who is eligible to apply?
- Applicants must be at least 21 years of age at the time of application.
- Applicants must be a veteran, Reservist, National Guardsman, or transitioning active-duty Military Member of any of the United States Armed Forces, the spouse of a Military Member, or the surviving spouse or child of a Military Member who died on active duty (i.e., a “Gold Star” family member).
- Applicants must be low-income and otherwise lack the financial means to start, or grow, an early-stage business or nonprofit.
- Applicants must own at least 51% of the business entity described in the application.
- Business entities, as defined in these rules, include sole proprietorships, legally incorporated LLCs, S-Corps or C-Corps (or formal partnerships) created under the laws of any U.S. jurisdiction.
- If the Applicant is applying in conjunction with a nonprofit organization, the Applicant must be the organization’s senior executive director or equivalent in order to be eligible for the grant.
- The nonprofit or business entity will also be evaluated on its positive social, community, educational, military-transition, veterans’ employment, health and wellness, or veterans’ mental health/spiritual impact on the American military and veteran community in addition to or in conjunction with the business or nonprofit functions.
What criteria is used in judging the pitch competition?
The following are the criteria we look for in deciding which entrepreneurs receive funding:
- Social impact on the military community
- Personal story and business idea/potential
- What customer need is being filled (product/market fit)
- Team and company history
- How the entrepreneur plans to use the award and the potential impact on their business.
- The Second Service Foundation delivers an annual report to program sponsors on program impact based on continuous measurement and tracking of key outcomes to be identified in joint consultation. These outcomes include:
- Revenue increase for small business program beneficiaries
- Jobs created by small business program beneficiaries
- Veterans and military spouses hired by small business program beneficiaries
- Social impact on the military community
How are the Grantees selected?
- Pitch Competition Participants will be evaluated based on: personal story and business idea/potential, potential impact/use of award funds, product-fit, team/history, and social impact of the business on the military and veteran community.
- Pitch Competition Participants will be reviewed by judges. Our judges are comprised of the Second Service Foundation staff, the Board of Directors, sponsors, and industry experts. The judges will determine the Semi-Finalists of the Military Entrepreneur Challenge grant.
- The recipients of the grant are chosen from the Semi-Finalists of each award period and are determined by public vote on the Second Service Foundation website or at an in-person pitch competition event.
How many months of free support is included?
Grants and other prizes vary based on event. Please see our project page for specific grant amounts and other sponsor donated services.
Grant Winners must complete all compliance to claim award money within three (3) months of competition completion, otherwise the grant will be forfeit.
Award amount will not be given directly to the grantee, it will be used to fund the project that is being proposed.**