Veteran Entrepreneur Program
Empowering Entrepreneurs Who Served Our Nation
Building a Network of Military Founders
2024 Top U.S. Cities
For Veteran Entrepreneurs
| Rank | City |
|---|---|
| 1 | Raleigh, NC Metro Area |
| 2 | Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area |
| 3 | Seattle-Tacoma-Bellevue, WA Metro Area |
| 4 | Cleveland-Elyria, OH Metro Area |
| 5 | Fayetteville-Springdale-Rogers, AR-MO Metro Area |
| 6 | Cincinnati, OH-KY-IN Metro Area |
| 7 | Milwaukee-Waukesha-West Allis, WI Metro Area |
| 8 | Kansas City, MO-KS Metro Area |
| 9 | New York-Newark-Jersey City, NY-NJ-PA Metro Area |
| 10 | Houston-The Woodlands-Sugar Land, TX Metro Area |
| 11 | San Antonio-New Braunfels, TX Metro Area |
| 12 | Dallas-Fort Worth-Arlington, TX Metro Area |
| 13 | Tampa-St. Petersburg-Clearwater, FL Metro Area |
| 14 | Austin-Round Rock, TX Metro Area |
| 15 | Atlanta-Sandy Springs-Roswell, GA Metro Area |
| 16 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area |
| 17 | Charlotte-Concord-Gastonia, NC-SC Metro Area |
| 18 | Denver-Aurora-Lakewood, CO Metro Area |
| 19 | Las Vegas-Henderson-Paradise, NV Metro Area |
| 20 | Nashville-Davidson--Murfreesboro--Franklin, TN Metro Area |
Methodology:
This year’s study places a special emphasis on larger cities and their major Veteran Owned Business that have succeeded. Each city is analyzed across four main categories, which include livability, economic growth, support for veterans, and ability to start a business. We also ranked smaller cities in a separate category to highlight the advantages of both large and small cities.
To paint the full picture of veteran support, city characteristics and entrepreneurship ability across the US, the study used a custom scoring algorithm based on a robust set of quantitative data from existing PenFed partners and openly available data sources. 390 metropolitan statistical areas were evaluated.
Grow With Us!
The Veteran Entrepreneur Program propels veteran-led companies to new heights. With a focus on companies with high-growth potential, we support veteran entrepreneurs from the idea stage to Series A and beyond. Our founders experience group collaboration and individualized mentorship that better prepares them to navigate the complexities of growing a startup. From the elusive world of accessing capital to practical, hands-on coaching, the Veteran Entrepreneur Program has created an initiative tailored to the needs of founders.
Since 2018, the Veteran Entrepreneur Program has accelerated 100+ military founders. Through The PenFed Foundation and its investor partnerships, alumni founders have accessed several million dollars in startup capital, grown a network of key stakeholders, and received invaluable mentorship from industry experts.
Our accelerator program is free of charge to founders, and we do not take equity in your business. Our sole purpose is to position vet-led companies for success. Grow your business with us!
Cohort #1 Bentonville, AR – March 4-6, 2025
Cohort #2 Tyson’s Corner, VA – May 20-22, 2025
Cohort #3 Bentonville, AR – August 19-21, 2025
Click here to apply for the next Cohort!
Why Bentonville?
“Bentonville, Arkansas is a hub of knowledge, retail, consumer product goods, logistics, and supply chain. The world’s experts are here, and they love helping veteran entrepreneurs”
Testimonials
What's exciting about it is the connection to the military that everyone has. Everyone's a veteran, everyone has some sort of experience and background in military service. It's like-minded people that really, I believe, improve our creativity, thought, and focus as we go through the journey.
What Makes Us Different
Our program is tailored specifically for veteran entrepreneurs, providing free participation without taking equity in your business. You’ll receive personalized guidance from industry experts, access the latest business strategies, and connect with a robust network of fellow veterans and key stakeholders. Our hands-on workshops offer practical, immersive learning, and our exclusive resources support your business growth.
Leadership
Terry Williams, Program Director
Terry served in the U.S. Marine Corps for 32 years, attaining the rank of Brigadier General. During his time in the Corps, he commanded all levels and served in numerous staff assignments around the world. After retiring from the Marine Corps in 2019, Terry started Van Williams LLC, a consulting film specializing in Facilities Management, Logistics Innovation, and Executive Coaching before joining PenFed Credit Union as Senior Vice President of Global Fixed Assets and The PenFed Foundation as Program Director.
Rachel Miller, Program Manager
Growing up in a military town and having had several family members in the military including her grandfather, who served in the Navy during the Korean War, and a great-grandfather, who served as part of the Navy Seabees during WWII, Rachel is passionate about honoring her family's legacy through her work in helping veterans. Rachel has an extensive and varied career, bringing several years of nonprofit experience and 14 years as an educator to the Foundation. Originally from Shreveport, Louisiana, she now lives in Bella Vista, Arkansas with her husband, two teenagers, yellow lab, and two hilarious cats.
Mentors
Tom Davin
Davin has over three decades of experience building fast-growing, category-defining brands. He joined Black Rifle Coffee Company’s board in 2018, becoming Co-CEO in 2019. Under his leadership, BRCC expanded into new business areas and went public in 2022. Previously, he transformed 5.11 Tactical into a global brand. Davin also held leadership roles at Panda Express, Oakley, and Zumiez, and currently serves on the boards of Backcountry.com and PEAR Sports, and as an advisor to Innovate Partners.
Allan Peretz
Allan, the Founder of Bold Strategies has utilized his expertise in ecommerce and product placement to help Terra Arma and Trident Coffee prepare to launch on Amazon and Walmart's Ecommerce platforms. His expertise and network has saved our companies months, and thousands of dollars. Allan has had a direct role in preparing the companies in the program to grow their business and tackle D2C
Previous Presenters
Gail Becker
Gail is best known as an entrepreneur, philanthropist and the Founder of CAULIPOWER, the most disruptive company in the better-for-you frozen food space. The company experienced hyper-growth, reaching more than $100m in revenue in three short years. She has received recognition for her achievements in business from publications such as Forbes, Fast Company and Inc. Gail is a frequent media guest, sought out for her opinions on female leadership, healthy food trends and building great brands.
Stuart Smith
Stuart is the former Global CEO of Ogilvy’s Earned Influence business, where he led over 3,000 employees across 80+ countries, developing strategies for clients like Microsoft, P&G, Nestlé, Intel, and Unilever. With Board-level experience in Ogilvy, Burson-Marsteller, and H+K Strategies, Stuart has built brands and reputations for major companies over his 30+ year career. After a decade at Ogilvy, he became Chief Marketing & Growth Officer of CAULIPOWER, helping it reach $100m+ in revenue. Currently, he creates value through growth for businesses and brands, advises several companies, and works with Tenth Avenue Holdings.
Michael Steadman
Michael “Iron Mike” Steadman is a seasoned business coach, brand builder, and category whisperer, specializing in empowering veterans, Black women, and those accustomed to being the lone voice in the room. A Black veteran and serial entrepreneur based in Harlem and Newark, NJ, Michael understands the unique challenges faced by those who defy the odds and break barriers. Committed to redefining what it means to be a Mogul or MisFit, Michael sees these terms as badges of honor representing strength, resilience, and innovation. He provides trusted guidance to help clients focus on what truly matters, scale their businesses, and lead their teams. Michael’s goal is to be the trusted voice in your corner, ensuring you have the support needed to succeed.
Ben Bunn
Former Green Beret and Infantry Officer, Benjamin spent 17 years in the Military before exiting in 2016. He has several deployments in support of the Global War on Terror to Iraq, Afghanistan, and the Baltics in support of stability operations in Eastern Europe. He is the current owner of Cigar City CrossFit, and holds several Director-level positions across multiple businesses and enterprises including Bravo Sierra, Cold Zero Spirits, and Warrior Rising, where he serves as the Deputy Executive Director. He has 20+ years of successful management experience in the Military, Small Business, and Start-up industries.
Joe Yalch
Joe Yalch is a Partner with Pente Consulting Group. Joe has spent the last 20+ years implementing new strategies in industries ranging from retail to manufacturing to construction. He has worked with many firms, large and small, to help them establish new processes, organizational structures, and infrastructure to support business process changes. His role on projects can range from project manager, to content expert, to business process engineer.
Phil Shelhammer
Phil Shelhammer is the Executive Director of the Office of Entrepreneurship and Innovation (OEI) at the University of Arkansas. He mentors entrepreneurs and supports the community through entrepreneurial education. Previously, he held leadership roles at Sam’s Club, Best Buy, and Procter & Gamble. Phil holds a BS in Mechanical Engineering from the University of Cincinnati and an MBA from Harvard Business School. He enjoys outdoor activities and serves on the boards of Arkansas Athletes Outreach and Students Acquiring Knowledge through Enterprise.
Matt Hesse
Matt Hesse is an Army veteran and the Founder and CEO of the University of Health & Performance (UHP). Inspired by the military’s impact on his life, Matt created the “Purpose Blueprint” in 2017 to help veterans find their purpose post-service. He founded UHP in 2021. Previously, Matt founded and led a multinational sports nutrition company before selling it in 2017. He serves on the POTUS’ Council on Physical Fitness and Sports, supports Veteran charities, and advises Veteran Entrepreneurs.
Current Company Portfolio
