Empowering Veteran Entrepreneurs: The Veteran Shark Tank

At Small Business Lending Source, we are committed to supporting veteran entrepreneurs on their journey to business success. One remarkable initiative that aligns with this mission is the Veteran Shark Tank, founded in 2012. This national pitch competition is specifically designed to promote and assist U.S. military veterans who are starting or growing their businesses.

What is the Veteran Shark Tank?

Modeled after the popular TV show “Shark Tank,” the Veteran Shark Tank offers a unique platform for veteran entrepreneurs to pitch their business ideas to a panel of “sharks.” This event is not just about winning a cash prize; it’s about gaining valuable exposure, networking opportunities, and constructive feedback from seasoned business professionals. The live event, held in front of a sold-out audience of over 200 people, sees five finalists competing for a $50,000 cash prize​ (Veteran Shark Tank)​​ (Business Wire)​​ (MilVet Benefits & News)​.

Eligibility Criteria

To ensure a fair and beneficial competition, applicants must meet the following criteria:

• Veteran Status: Must be a U.S. military veteran.
• Ownership: Must own more than 50% of the company.
• Legal Standing: Must have no convictions for civil or criminal fraud and no outstanding personal or business liens resulting from court action.
• Prize Usage: The prize money must be used to grow and enhance the business and not for personal use.

Applications for the 2024 competition are due by October 6, 2024. The event will take place in Philadelphia, coinciding with the Army/Navy Football week, adding a patriotic flair to the proceedings​ (Veteran Shark Tank)​​ (Veteran Shark Tank)​.

How to Apply

Interested veterans can apply through the Veteran Shark Tank website. The application process involves submitting a detailed business plan and illustrating how the business would benefit from the prize money.

Benefits of Participating

• Financial Support: The $50,000 prize can significantly impact the growth and success of a veteran-owned business.
• Networking: Gain access to a network of successful entrepreneurs, investors, and business leaders.
• Exposure: Increase visibility for your business and attract potential investors and customers.
• Mentorship: Receive feedback and mentorship from experienced business professionals to aid in your business development.

The Veteran Shark Tank is an extraordinary opportunity for veteran entrepreneurs to gain financial support, mentorship, and valuable exposure. By participating in this competition, veterans can turn their business dreams into reality and contribute to the vibrant landscape of veteran-owned businesses in the United States.

For more information and to apply, visit the Veteran Shark Tank website. Don’t miss the chance to take your business to the next level!

At Small Business Lending Source, we are proud to support initiatives like the Veteran Shark Tank and are dedicated to helping veteran entrepreneurs succeed.