BROOKFIELD, Wis.—Fiserv is committing an additional $7 million to the (IVMF), the company announced.
As a longtime partner of the IVMF, Fiserv said it is extending an initial commitment made in 2014 to fund veteran and military spouse entrepreneurship programs and initiatives.
“This support will enhance and expand existing training programs designed specifically for transitioning military service members and military-connected small business owners and will create new opportunities to reach the veteran and military spouse/life partner community in underserved areas,” Fiserv said.
According to the company, the ongoing commitment to investing in the growth of the IVMF will enable additional programming to reach an expanded participant base of established veteran entrepreneurs and help address top challenges to business ownership.
The company noted IVMF’s most recent National Survey of Military-Affiliated Entrepreneurs research indicates veteran entrepreneurs experience a variety of barriers to include access to capital, difficulty navigating resources, certification process hurdles, and lack of assistance from medical and disability service providers.
"Success or failure does not depend on one, but rather on multiple factors related to barriers and challenges veteran entrepreneurs experience while also navigating the complex and fragmented veteran entrepreneurship ecosystem," Fiserv stated.
Part of ‘Larger Commitment’
The IVMF partnership is part of the larger Fiserv commitment to the military community through Fiserv Salutes, an initiative dedicated to making the company an employer of choice for veterans and military spouses, and a provider of a comprehensive suite of business solutions for veteran-owned businesses, according to the company.
“Supporting those who have served in the military is not just a good thing to do, it’s the right thing to do. Being an advocate for this community and ensuring that they have the best opportunities to achieve success embodies our Fiserv values and is incredibly important to me personally,” said Frank Bisignano, Fiserv president and CEO and IVMF Advisory Board member. “Fiserv is proud of our partnership with IVMF and we are eager to get started on the new roads we will pave into the future.”
The partnership between the two organizations started seven years ago with a $7-million pledge to the IVMF to fund the creation and implementation of innovative entrepreneurship resources such as the Coalition for Veteran Owned Business (CVOB) and Center of Excellence for Veteran Entrepreneurship. Fiserv and IVMF also partner to power the Vet100, honoring the 100 fastest-growing veteran-owned and -operated businesses in the country, as identified by Inc. magazine.
‘Unprecedented Opportunity’
“The growth of the IVMF and its 13 national, veteran-serving programs is due in large part to the steadfast commitment of Fiserv to the military and veteran community,” said J. Michael Haynie, executive director of the IVMF and vice chancellor for strategic initiatives and innovation at the University. “The leadership role Fiserv has played in establishing the Coalition for Veteran-Owned Business (CVOB) has resulted in an unprecedented opportunity for the nation’s veteran-owned businesses to connect and engage the supply chains of Fortune 500 companies. More than 13,000 veteran-owned business have already benefited from the CVOB, first launched as a collaboration between Fiserv and the IVMF. Further, Fiserv continues to support innovation across the veteran business ownership community.”