On the heels of the first NYC Boss Up program, FJC has partnered with the Ron and Kerry Moelis Family Foundation for a new version of the program, this time focused on veteran entrepreneurs. The program will provide 7-10 selected winners with a grant of $20,000 and enrollment in SBS’s small business mentorship program to help veteran entrepreneurs build and grow their businesses.
The NYC Boss Up Veteran Entrepreneurship Program was announced on September 12, 2023 alongside public sector partners at the NYC Department of Small Business Services (SBS), and the NYC Department of Veterans’ Services (DVS). The program focuses on veteran entrepreneurs living in New York City. SBS will provide the program’s technical training components and all applicants will be provided with information about SBS’s free business support services. SBS will provide the education, training, support, and mentorship through a program that helps veterans apply skills they developed in the military to grow a successful and profitable business.
Funded by the Moelis Foundation, FJC will administer the program through a Scholarship & Award Account (SAA), a variation on a Donor Advised Fund (DAF) account that enables awards to individuals that are consistent with U.S. Internal Revenue Service charitability regulations. When setting up an SAA, donors like the Moelis Foundation must undergo an application process that is approved by FJC’s Board of Directors, including designing fair selection criteria and assembling a committee of unbiased jurors, which recommend winners.
“Following the success of the NYC Boss Up program, we wanted to support another cohort of entrepreneurs and give them the financial support and skills to take their businesses to the next level,” said Ron Moelis, co-founder of the Ron and Kerry Moelis Family Foundation. “I’m thrilled to watch our military veteran winners pursue their business plans and encourage many more veterans to apply to the program for its next round.”
“The New York City Boss Up initiative is the kind of imaginative philanthropy that can significantly improve people’s lives,” said Sam Marks, Chief Executive Officer of FJC – A Foundation of Philanthropic Funds. “FJC is excited to execute the vision of the Ron and Kerry Moelis Family Foundation, bringing together partners from government, nonprofits, and the private sector to deliver a dynamic program that invests in New York City’s veterans.”
Applications will be made available to veteran entrepreneurs with existing businesses located across the five boroughs and will be reviewed in three rounds, culminating in a pitch and panel interview featuring SBS Commissioner Kim, DVS Commissioner Hendon, veterans, and stakeholders in the philanthropic and veteran communities. Interested applicants can apply until 11 PM on October 6, 2023 using an online application portal. A virtual information session will be held on Friday, September 22, 11 am – 12 pm. Interested applicants can register on Eventbrite.