For the third consecutive year, Rider University is running its Veterans Entrepreneurship Training Program at no cost to a group of veterans with business aspirations. The 9 week program, which began in mid May with the introduction of the veterans to their assigned mentors, will provide veterans with the core skills to start a business. By the program’s end, each veteran will have transformed their business idea into a solid business plan to go forward.
First, however, each veteran must pass through the program’s initial phase. They are required to research and develop their business idea to sufficiently answer core questions about the worthiness of the venture and whether they understand and accept the challenge of managing a startup.
“We’ll review them, we’ll make sure that they’re [veteran’s business concepts] tight enough that you’re going to gain the most out of this program going forward,” stated Ron Cook, Director of Rider’s Center for Entrepreneurial Studies and one of the program instructors.
Veterans then, upon the approval of instructors, move into the second phase in where they focus on the development of their business plan. The program is limited to only 20 students to allow for individualized attention throughout this process.
Aside from actual in-class entrepreneurial studies, veterans receive other support and resources, both during and after the program’s end. Every veteran will receive the business consultation of an experienced mentor for an entire year after the program’s completion. The success of the program and local publicity has also drawn in the involvement of other business organizations and their executives.
“They reached out to us and they want to offer 6-months of free space to any veteran from our program,” stated Professor Cook about Base Camp Trenton, a co-working space which has offered use of their services to the veterans participating in the program.
“We have a student venture fund that is available to Rider students,” continued Cook about a financial resource that is open to Rider students, “We’re opening this up and making it available to the vets too.”
Additional resources do not end at the co-working space and venture funding. Veterans are also offered help in banking, legal matters and many other fields, as Marc Citron of Saul Ewing Law Firm, a sponsor of the program stated, “You’ve given to your country, it’s about time I gave back to you.”
Grand Bank, based out of Hamilton, New Jersey, continues to play a significant role as the original sponsor of the program by funding the veteran’s studies with a $25,000 grant this year and offering their financial guidance and services to the participants. The Wilkin & Guttenplan CPA firm also sponsors the program and provides accounting advice to the veterans, and the NJ Bankers Charitable Foundation continues its support for a second year.
