SBS, DVS Announce NYC Boss Up for Veteran Entrepreneurs in Partnership with Ron & Kerry Moelis Family Foundation - SBS

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FOR IMMEDIATE RELEASE
September 12, 2023

SBS COMMISSIONER KEVIN D. KIM, DVS COMMISSIONER JAMES HENDON ANNOUNCE CREATION OF NYC BOSS UP PROGRAM FOR VETERAN ENTREPRENEURS IN PARTNERSHIP WITH THE RON & KERRY MOELIS FAMILY FOUNDATION

Up to 10 Veteran New Yorkers to Receive Business Grants, Education in New Program, Building on Successful Model for NYCHA Residents

NEW YORK, NY– New York City Department of Small Business Services (SBS) Commissioner Kevin D. Kim, New York City Department of Veterans’ Services (DVS) Commissioner James Hendon, and the Ron and Kerry Moelis Family Foundation today announced the launch of the NYC Boss Up Veteran Entrepreneurship Program. The program will provide seven to 10 veteran entrepreneurs each with a grant of $20,000 and enrollment in SBS’s small business mentorship program to help build and grow their businesses. Applicants must apply to the program through the online portal by 11:00pm on October 6th, 2023. Applicants must be a military veteran and a current small business owner.

NYC Boss Up is a philanthropic program committed to encouraging excellence in entrepreneurship across New York City. The Ron and Kerry Moelis Family Foundation committed $200,000 to support the veterans' cohort, which follows the successful NYC Boss Up Entrepreneurship Program partnership with the New York City Housing Authority (NYCHA) that provides $1 million in grants over five years to budding entrepreneurs living in NYCHA residences.

The NYC Boss Up Veteran Entrepreneurship Program builds on the successful recovery of the New York City economy in the aftermath of the COVID-19 pandemic. By connecting military veteran entrepreneurs with grants and access to the world-class FastTrac® mentorship program, NYC Boss Up will prepare selected business owners to take their enterprises to the next level.

"Our veteran entrepreneurs and small business owners deserve to be supported as they have so selflessly supported us," said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. "NYC Boss Up is one way our administration is getting veterans the resources they need to succeed, and one piece of our commitment to honoring their sacrifice. Thank you to the Ron and Kerry Moelis Family Foundation for your continued partnership on this important effort."

"I am beyond proud to stand alongside my colleagues and dedicated partners as we launch the NYC Boss-Up Veterans Entrepreneurship Program," said Deputy Mayor for Health and Human Services Anne Williams-Isom. "The grants and mentorship opportunities offered through this initiative is how we pave the way for our veterans to become budding entrepreneurs, empowering them to lead the way in our city’s post-pandemic economic recovery."

"Through the innovative NYC Boss Up initiative, we have an opportunity to give back to our New York City veterans by helping take their businesses to the next level," said SBS Commissioner Kevin D. Kim. "I'm grateful to Mayor Adams, Commissioner James Hendon, and the Ron and Kerry Moelis Foundation for making this first-of-its-kind initiative possible as we work closely together to make New York a City of Yes for our veteran entrepreneurs."

"I am thrilled to see the NYC Boss-Up Veteran Entrepreneurship Program come to life. Our Veterans have demonstrated their dedication and resilience in their service to our country, and now, with the support of this program, they can channel that same determination into their businesses," said DVS Commissioner James Hendon. “This initiative is a testament of our unwavering support for our Veterans-turned-entrepreneurs as they play a vital role in New York City's continued economic recovery."

"Following the success of the NYC Boss Up program, we wanted to support another cohort of military veteran 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 winners pursue their business plans and encourage many more veterans to apply to the program for its next round. Thanks to Mayor Eric Adams, the New York City Department of Small Business Services, the New York City Department of Veterans Services, and FJC for their collaboration and support in turning this vision into a reality."

"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 Mayor Adams and 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."

The NYC Boss Up Veteran Entrepreneurship 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 necessary for professional growth and long-term success through its FastTrac® GrowthVenture™ for Veterans. This course helps veterans apply skills they developed in the military to grow a successful and profitable business.

Eligible applicants 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. A virtual information session will be held on Friday, September 22, 11 am – 12 pm. Interested applicants can register on Eventbrite.

The NYC Boss Up entrepreneurship program was founded by the Ron and Kerry Moelis Family Foundation. The Foundation is heavily focused on supporting social entrepreneurship and impact investing. FJC-A Foundation of Philanthropic Funds administered the program through a specialized Donor Advised Fund account that enables awards to individuals that are consistent with U.S. charitability regulations.

About the Ron and Kerry Moelis Family Foundation

Ron Moelis started the Ron and Kerry Moelis Family Foundation with the aim of helping to encourage 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. L+M Development Partners has successfully partnered with NYCHA on development projects.

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 and the Tenement Museum. His passion for entrepreneurship led him to sponsor the Wharton School’s MBA Impact Investing Network Training (MIINT) Competition. As a judge on the competition’s panel, 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. More information on how NYC Boss Up encourages excellence in entrepreneurship can be found at the NYC Boss Up website.

About FJC

FJC – A Foundation of Philanthropic Funds (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, 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 nyc.gov/vets, call (212) 416-5250, email connect@veterans.nyc.gov, 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 311, and follow us on Facebook, Twitter, and Instagram.