Official Report: National Invest in Veterans Week® Domains and Strategic Initiatives for Veteran Empowerment
Introduction
National Invest in Veterans Week® (NIVW) is an innovative national initiative focused on advancing veteran entrepreneurship. NIVW achieves this by creating state-specific domains aligned with the unique economic and social characteristics of various regions in the U.S. These 14 domains provide veterans with tailored resources, business mentorship, funding opportunities, and pathways to industry networks. This report deep-dives into the alignment, opportunities, and challenges faced by these domains while leveraging the 2024 PenFed Top Cities for Veteran Entrepreneurs Report as a key reference.
I. Overview of National Invest in Veterans Week Domains
The 14 domains reflect a highly localized approach to fostering veteran entrepreneurship, addressing regional economic strengths, and creating opportunities. By bridging the gap between veterans and essential resources, the domains empower veteran-owned businesses to flourish in diverse ecosystems. The domains not only enhance individual success but also stimulate broader regional economic development.
II. The 14 Domains: Strategic Analysis and Regional Impacts
1. LouisianaVeterans.com
Regions Served: New Orleans, Baton Rouge
Key Strengths:
Growing renewable energy sector.
Low costs for startups and small businesses.
Strategic location for logistics and maritime industries.
Opportunities:
Build collaborations with military bases and shipping industries.
Expand renewable energy initiatives and veteran-led sustainability projects.
Leverage New Orleans’ growing tourism economy for service-based businesses.
2. KansasVeterans.com
Regions Served: Kansas City
Key Strengths:
High livability and veteran-friendly policies.
Thriving agricultural and logistics economy.
Opportunities:
Promote agritech innovation led by veterans.
Establish incubators to connect veteran entrepreneurs with logistics hubs.
Leverage the region’s central U.S. location for supply chain optimization.
3. RhodeIslandVeterans.com
Regions Served: Providence
Key Strengths:
Strong financial services sector.
High government contracting opportunities.
Opportunities:
Develop fintech startups through partnerships with state resources.
Expand veteran roles in advanced manufacturing and biomedical sectors.
Promote government contracting initiatives tailored to veterans.
4. NewHampshireVeterans.com
Regions Served: Manchester
Key Strengths:
Low taxes and an educated workforce.
Proximity to Boston's economic hubs.
Opportunities:
Develop startups focused on clean energy and advanced engineering.
Foster cross-border collaboration with Boston’s venture capital ecosystem.
Improve veteran access to technical training programs.
5. DelawareVeterans.com
Regions Served: Wilmington
Key Strengths:
Strategic corporate and legal hubs.
Strong presence of financial networks.
Opportunities:
Expand into fintech and cybersecurity sectors.
Build stronger partnerships with corporations in Wilmington.
Support veteran-led innovation in banking and healthcare tech.
6. PennsylvaniaVeterans.com
Regions Served: Philadelphia, Pittsburgh
Key Strengths:
Diverse industrial and economic base.
Strong access to federal contracting opportunities.
Opportunities:
Enhance partnerships in defense and aerospace manufacturing.
Leverage tech hubs in Pittsburgh for veteran-led startups.
Increase funding access for veterans in underserved areas.
7. SouthCarolinaVeterans.com
Regions Served: Charleston
Key Strengths:
Thriving tourism and hospitality sectors.
Proximity to key military installations.
Opportunities:
Encourage veteran involvement in defense contracting.
Build tourism-focused startups tailored to Charleston's economy.
Strengthen small business growth through state-specific grants.
8. MississippiVeterans.com
Regions Served: Jackson
Key Strengths:
Strong manufacturing and agriculture sectors.
Opportunities:
Develop innovation hubs focused on ag-tech and energy.
Create platforms to connect veterans with underserved rural markets.
Increase veteran participation in regional infrastructure development.
9. WyomingVeterans.com
Regions Served: Cheyenne
Key Strengths:
Stable economy and energy-sector innovations.
Opportunities:
Promote renewable energy startups by veterans.
Leverage the state’s natural resources to develop rural economic hubs.
Encourage veteran-owned small businesses in tourism and outdoor industries.
10. WestVirginiaVeterans.com
Regions Served: Charleston
Key Strengths:
Emerging renewable energy and infrastructure development opportunities.
Opportunities:
Develop entrepreneurship programs in renewables and energy transitions.
Strengthen regional economic development through veteran-led enterprises.
Build business incubators tailored for rural and semi-urban veterans.
11. TennesseeVeterans.com
Regions Served: Nashville, Memphis
Key Strengths:
Thriving healthcare and music economies.
Strategic logistics and transportation hubs.
Opportunities:
Expand logistics startups in Memphis.
Promote veteran innovation in Nashville’s entertainment industries.
Strengthen healthcare-focused veteran entrepreneurship.
12. NewJerseyVeterans.com
Regions Served: Newark
Key Strengths:
Access to New York’s vast markets.
Robust logistics and tech sectors.
Opportunities:
Promote veteran-owned urban logistics businesses.
Leverage Newark’s role as a major port city for exports.
Expand veteran roles in financial and legal services.
13. NorthDakotaVeterans.com
Regions Served: Fargo
Key Strengths:
Energy production and agricultural hubs.
Opportunities:
Strengthen veteran-led innovation in farming technologies.
Promote data centers and rural tech initiatives.
Encourage public-private partnerships for small business incubation.
14. FloridaVeterans.com
Regions Served: Miami, Tampa, Orlando
Key Strengths:
Diverse economy with aerospace and tourism industries.
Veteran-friendly population.
Opportunities:
Strengthen veteran involvement in defense and aerospace contracting.
Expand retail and service-oriented startups.
Leverage Florida’s tech ecosystem to grow veteran-led ventures.
III. Trends and Challenges in Veteran Entrepreneurship
Trends Identified in the 2024 PenFed Report
Growing Metro Areas: Cities like Austin, Raleigh, and Denver lead in job growth and business start-up success.
Emerging Small Cities: Rapid City, Sioux Falls, and Cheyenne show strong support for veterans, despite smaller populations.
Venture Capital Expansion: Metro regions like Washington, Atlanta, and Dallas exhibit increasing VC opportunities for veteran-owned businesses.
Key Challenges:
Housing Costs: High housing costs in major metro areas constrain entrepreneurial growth.
Access to Capital: Small cities face limited venture capital availability compared to larger regions.
Infrastructure Needs: Public transit and childcare support remain inadequate in emerging cities.
IV. Recommendations for Strengthening Domains
Increase Funding Opportunities:
Advocate for public-private partnerships to expand venture capital availability.
Enhance funding access for underserved veteran entrepreneurs.
Strengthen Regional Networks:
Create statewide business incubators and accelerators focused on veterans.
Promote mentorship programs with successful veteran entrepreneurs.
Advocate for Policy Improvements:
Push for tax credits for veteran-owned businesses.
Improve housing affordability through targeted policy interventions.
Expand National Awareness:
Develop comprehensive marketing campaigns to raise awareness of the domains.
Highlight successful veteran-owned businesses as role models.
Conclusion
The National Invest in Veterans Week® domains represent a transformative framework for driving veteran entrepreneurship. By addressing unique regional challenges and opportunities, NIVW is poised to create a lasting economic impact. These domains, supported by state-specific strategies, will continue to serve as a guiding light for empowering veterans and fostering a robust national ecosystem for veteran-owned businesses.
The full study results can be found here.