Veterans Venture Challenge

Ten finalists will each receive mentorship and a go-to-market strategy team devoting time to develop a strategy, each package is valued at $4,000, for a total of $40,000.

First Place Total Package: $56,670
$47,000 – Seed capital funding
$7,500 - In-kind go-to-market strategy value
$1,000 – Advertising credit
$1,170 – Virtual services at the ideaHUb value

Second Place Total Package: $36,670
$28,000 – Seed capital funding
$7,500 - In-kind go-to-market strategy value
$1,000 – Advertising credit
$1,170– Virtual services at the ideaHUb value

Third Place Total Package: $26,670
$17,000 – Seed capital funding
$7,500 - In-kind go-to-market strategy value
$1,000 – Advertising credit
$1,170 – Virtual services at the ideaHUb value

Additionally, the Hofstra University ideaHUb will offer a six-month virtual services agreement at no-cost for three additional finalists ($1,170). For more information please visit ideaHUb. Please note some services are only available to companies based in NY.

The elements developed during the GTM phase are leveraged to enhance and mature their business through a focus on customer acquisition and market awareness. These initiatives validate their business vision, accelerate the initiation/growth of revenue, and mature their valuation proposition.

Key elements of the GTM Program, which will include a team of marketing professionals, includes:

• Develop: Buyer Profiles and Messaging
• Strengthen: Engagement Campaigns for B2B, B2C and Distributor Audiences
• Scale: Network and Cadence/Velocity of Outreach

In the 2020 Hofstra Veterans Venture Challenge, many companies booked their first sales, and launched digital marketing programs that, so far, have resulted in over 154,000 ad impressions and views.

January 31, 2021.

The CEO of the company and/or the Team Leader participating in the Challenge (as defined below) must be a veteran of the United States military (as defined in 13 CFR § 125.11), the spouse of a veteran, or a Gold Star family member (family members eligible to receive the gold star lapel button as set forth in 10 USC § 1126.) Companies must be 50% or more veteran-owned.

Yes, if they meet certain eligibility requirements. For example, if you are within six months of end of active service, on TDY, on personal leave, or in a Warrior Transition Unit you may be eligible. Please email veteranschallenge[at]hofstra.edu with more details about your service so we can verify your eligibility.

The rules state, “Companies do not need to be revenue-producing to apply, but must not have revenues greater than $250,000 annually to participate. Companies can be in existence for no longer than three years. Exceptions will be made on a case-by-case basis.”

Please email veteranschallenge[at]hofstra.edu to verify your eligibility if you have been in operation for more than three years. The company will be asked to demonstrate that it is still in the early stages through financial history.

Yes, a nonprofit organization can apply to the Challenge.

Contestants need to have formed a company to participate and demonstrate visibility to revenues in the next 12 months.

Entrepreneurs must participate in a virtual program that will require a significant amount of time. The same entrepreneur must attend the virtual sessions.

No, you do not have to live on Long Island or New York State, but the company must be incorporated in the United States.

The mission of the Center for Entrepreneurship is to provide Hofstra University's students, faculty, staff, alumni, and the community with the skills and training necessary to become accomplished entrepreneurs and to serve as a leader in Long Island's entrepreneurial ecosystem.  Follow the Center on Twitter and Instagram at @HuideaHUb.

Any type of business can be submitted, as long as it is meets the eligibility criteria and is an early stage business with high growth potential.

There is no cost to participate in the Hofstra Veterans Venture Challenge.

Applicants will be notified by March 1, 2021 if they are invited to pitch in the Semi-Final Round.

We will select ten finalists at the Semi-Final Round, who will participate in the GTM, mentorship, and Bootcamp program. The finalists will be eligible to pitch in the Final Round Competition for the seed capital funding.

No, and the seed capital funding is non-dilutive.

Email Veteranschallenge[at]Hofstra.edu. All questions and responses will be posted to this website as they come in.

Participants in the 2020 program are eligible unless they placed in first, second, or third and received prize money.