SBS Acting Commissioner Dynishal Gross, DVS Commissioner James Hendon Announce Expansion of NYC Boss up Program for Veteran Entrepreneurs in Partnership with the K & R Moelis[...]

FOR IMMEDIATE RELEASE
July 16, 2024

SBS ACTING COMMISSIONER DYNISHAL GROSS, DVS COMMISSIONER JAMES HENDON ANNOUNCE EXPANSION OF NYC BOSS UP PROGRAM FOR VETERAN ENTREPRENEURS IN PARTNERSHIP WITH THE K & R MOELIS FAMILY FOUNDATION

NYC Boss Up for Veteran Entrepreneurs Program Will Now Be Open to Military Spouses and Gold Star Families

NEW YORK- New York City Department of Small Business Services (SBS) Acting Commissioner Dynishal Gross, New York City Department of Veterans' Services (DVS) Commissioner James Hendon, and the K & R Moelis Family Foundation, and FJC - A Foundation of Philanthropic Funds today announced the expansion of the NYC Boss Up Veteran Entrepreneurship Program and open application period for the second cohort. The program will provide up to 10 selected winners with a grant of $20,000and enrollment in SBS's small business education program, FastTrac® GrowthVenture™ for Veterans, to help veteran and military family entrepreneurs build and grow their businesses.

NYC Boss Up is a philanthropic program committed to encouraging excellence in entrepreneurship across New York City. The K & R Moelis Family Foundation committed $200,000 to support the first veterans' cohort in 2023, which provided nine veteran-owned small businesses with $20,000 each.

Following the success of the first round of the NYC Boss Up Veteran Entrepreneurship Program in 2023, this year the program is expanding beyond NYC's more than 135,000 military veterans to include their spouses and other family members. Entrants must be a current small business owner or in the process of starting a business in NYC and is either a veteran of the United States military, a military spouse, or the child, sibling, spouse, or parent of a service member who died as the result of active-duty military service (a "Gold Star" family member). By connecting these entrepreneurs with grants and access to the world-class FastTrac® education program, NYC Boss Up will prepare selected business owners to take their enterprises to the next level.

Applications will be open through Sunday, September 15, 2024, at 11:59 p.m. To learn more about eligibility requirements and the application process, individuals are encouraged to attend one of two online information sessions at 5:30 p.m. on both Wednesday, July 24, and Tuesday, August 20. Those interested in attending must register through the SBS Eventbrite page.

Acceptable forms of proof and identification documents can be found at the NYC Boss Up Veteran Entrepreneurship Program website.

Eligible applications will be reviewed to select finalists, culminating in a pitch and panel interview featuring SBS Acting Commissioner Dynishal Gross, DVS Commissioner James Hendon, veterans, and stakeholders in the philanthropic and veteran communities. Applicants will be notified if they are selected to advance to the pitch competition no later than October 4, 2024.

"The veterans who bravely serve our country are our heroes and our administration is committed to supporting them so they can live affordably and thrive right here in New York City," said New York City Mayor Eric Adams. "We are thrilled to announce the second cohort of the 'NYC Boss Up' program to give 10 veterans and their families $20,000 and the resources they need to help grow their business. As our administration has guided the city to achieving multiple total job highs, with the lowest unemployment since August 2022, we are proud that veterans continue to be a part of that economic engine and we will ensure they have the support they deserve."

"Thank you to the K & R Moelis Family Foundation for your outstanding commitment to supporting NYC's veteran community and their families, a commitment which we share deeply in our administration," said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. "I'm thrilled to see that the NYC Boss Up Veteran Entrepreneurship Program will now be available to military spouses and Gold Star family members, giving them access to invaluable funding and expert guidance in building and growing their small businesses."

"Small businesses, whether it is your corner bodega or your favorite local coffee shop, are the cornerstone of so many communities across this great city," said Deputy Mayor for Health and Human Services Anne Williams-Isom. "Our administration has been proud to support and uplift minority and women-owned businesses as well as veteran-owned businesses. The expansion of this initiative to include military spouses and Gold Star families is about more than helping these businesses grow, it is about empowering veteran and military families and honoring the sacrifices of those who served this nation. Thank you to SBS, to DVS, and all the partnerships that have made this valuable program possible."

"Boss Up provides a critical mix of supports to help veteran entrepreneurs build businesses that contribute to NYC's strong economy," said NYC Department of Small Business Services Acting Commissioner Dynishal Gross. "Expanding Boss Up to include military spouses and Gold Star families takes this robust program to the next level. I am grateful to Commissioner James Hendon and the K + R Moelis Foundation for their dedication to our veteran community, vision, support, and leadership."

"We are thrilled to see the NYC Boss-Up Veteran Entrepreneurship Program return for another iteration after already proving to be a vital resource of support for Veteran small businesses and entrepreneurs," said NYC Department of Veterans' Services Commissioner James Hendon. "The expansion of the program to include military spouses and Gold Star family members will undoubtedly empower more individuals within the New York City military community by equipping them with the resources and opportunities necessary to make significant strides in their business endeavors."

"The NYC Boss Up program has already helped veterans from all over the city grow their business through both direct grants and invaluable mentorship resources, and our expansion to serve military spouses and Gold Star Families is a wonderful opportunity to build on our work," said Ron Moelis, Founder of NYC Boss Up. "Small businesses are the backbone of our city and the key to our ongoing recovery. We look forward to continuing our efforts with our Boss Up partners to provide NYC's veteran community with well-deserved resources and a chance to see their companies thrive."

"NYC Boss Up continues to demonstrate how collaborative philanthropy can create substantial, positive change in our communities. The inclusion of military spouses and Gold Star families in this year's cohort reflects our commitment to supporting those who serve our nation," said Sam Marks, CEO of FJC - A Foundation of Philanthropic Funds. "FJC is excited to use our expertise administering award programs to enable the K & R Moelis Family Foundation to implement this vital program, in partnership with SBS and DVS."

"Winning the Boss Up grant has been a transformative milestone for Brothers Building Blocks," said Serghio Adams, Founder and President of Brothers Building Blocks and 2023 NYC Boss Up Veterans winner. "It has provided us with the resources and confidence to expand our outreach, innovate our programs, and positively impact more lives in our community. This support has been instrumental in turning our vision into reality."

"Winning Boss Up has been a tremendous honor," said Vance Gorman, Jr., Founder and Creative Director of Vanso Visual Imaging and 2023 NYC Boss Up Veterans winner. "The competition provided a valuable platform to showcase my business and gain valuable feedback from industry leaders. The resources and mentorship received have been instrumental in accelerating my company's growth and development."

"Winning the Boss Up competition has been a transformative experience for indeHealth," said Tsikata Apenyo, Founder and CEO of indeHealth and 2023 NYC Boss Up Veterans winner. "It has not only provided invaluable resources and mentorship but also significantly elevated our profile within the industry."

Additionally, SBS and DVS also announced an expansion of the Veteran Business Leadership Association (VBLA) initiative through new partnerships across the public and private sectors, including LaGuardia APEX, the Bunker Labs Ambassador Program, and JP Morgan Chase, to support veteran small business owners and entrepreneurs across the five boroughs. The VLBA offers veterans a suite of wide-ranging services, including one-on-one counseling, coaching and mentorship, M/WBE certification assistance, capital and financing assistance, and marketing strategy.

The expansion of the VBLA and NYC Boss Up Veteran Entrepreneurship build on the record achievements of the administration that took place as New York City regained all of the private sector jobs lost during the COVID-19 pandemic and saw the largest number of small businesses in its history, with one in three created since 2022. Since the start of the administration, SBS has facilitated more than $265 million in funding to businesses, saved businesses more than $45 million by cutting fines and fees, educating businesses on business compliance, and implementing a one-time liquor license fee; and connected more than 45,000 New Yorkers to jobs through SBS Workforce1.

About the K & R Moelis Family Foundation

Ron Moelis started the K & R Moelis Family Foundation to encourage programs that advance social mobility. Ron is the Co-Founder and Chairman of L+M Development Partners, a unique firm that goes beyond just building by collaborating with community partners to create neighborhoods that take into account the unique needs and lifestyles of the people living in them and actively look to enrich residents' lives through the use of private and public spaces.

Ron Moelis also founded the New York State Association for Affordable Housing and serves as Co-Chair of the Board of Building Skills NY and as a Trustee of Montefiore Hospital. His passion for entrepreneurship led him to sponsor the Wharton School's MBA Impact Investing Network Training (MIINT) Competition. As a primary investor in the winning companies, he seeks to support impact-investing students to inspire future business students to embody socially responsible business practices. NYC Boss Up is a natural extension of Ron's life's work and allows the Foundation to support even more under-represented adults in realizing their entrepreneurial potential.

About FJC

FJC is a boutique public charity that offers a diverse menu of philanthropic services to a range of stakeholders. With over $380 million under management, its over 1,000 accounts include Donor Advised Funds (DAFs), fiscal sponsorships, collective giving accounts, revolving funds, and many other philanthropic vehicles. FJC acts as an intermediary between the financial services sector and the nonprofit sector, enabling nonprofit organizations and their supporters to focus on their missions, rather than be burdened with the details of operations and compliance.

About the NYC Department of Veterans' Services (DVS)

The NYC Department of Veterans' Services mission is to connect, mobilize, and empower New York City's Veteran community to foster purpose-driven lives for US Military Service Members-past and present-in addition to their caregivers, survivors, and families. We assist NYC Veteran community members on issues that include, but are not limited to: employment, housing, food security, wellbeing, benefits, culture, and targeted advocacy. For more information, visit www.nyc.gov/vets, call (212) 416- 5250, email [email protected], or follow us on social media @nycveterans.

About the NYC Department of Small Business Services (SBS)

SBS helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building vibrant neighborhoods across the five boroughs. For more information on all SBS services, go to nyc.gov/sbs, call 888-SBS-4NYC, and follow us on Facebook, Twitter, Instagram, and LinkedIn.

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