Bunker Labs, a national nonprofit organization that serves as an entrepreneurship incubator for veterans, has opened a branch in Phoenix, Arizona. The organization partnered with the governor’s office, the city government of Phoenix, the Arizona Department of Veterans Services and WeWork.
According to the Small Business Administration (SBA), 25% of veterans want to start their own business but only around 5% do so.
Becca Keaty, Bunker Labs’ Chief Development Officer and a National Guard veteran, said that people who thrive in active-duty life are well-suited to the dynamic nature of entrepreneurship, but they need to learn the finer points of business. Bunker Labs focus on developing veterans as entrepreneurs and connecting them with those in the business community, added Southwest regional experience director Johnathan Paul Wojtewicz.
Bunker Labs suggested that the state and city governments provide financing assistance to veterans who want to venture into the entrepreneurial path and offer contracting incentives for veteran-owned businesses.