The primary purpose of the program is to make the start-up process for Veteran innovators, makers, and entrepreneurs as smooth as possible by providing business opportunities for Veterans interested in manufacturing entrepreneurship. In the spirit of American Manufacturing, MDI welcomes ideas ranging from cars and candy to airplanes and everything in-between and beyond.
Innovative Veteran Lab is a USA-based accelerator program designed to build and launch innovative start-up manufacturing companies that Veterans own and operate. At the core, iVLAB promotes leadership, business innovation, tech transfer and commercialization literacy among our nation's Veterans. iVLAB helps Veterans develop ideas that capture the important things their military training has taught them like discipline, critical thinking, and tactical perseverance. Through the program, Veterans have an opportunity to deploy the best of their military training toward the goal of creating manufacturing ventures that lead to Veteran owned enterprises.
Participants selected for the program will receive a $1,000 grant to help put them on a customized path to moving their idea into the marketplace. Each Veteran grant recipient receives customized guidance with accelerated technical assistance and business coaching intervention. Additionally, the grant will be used to direct Veterans to training and resources designed to shorten the product/service development cycle, reduce business risk, and fully explore the commercialization potential of the idea. It is expected that Veterans will use the grant funds to seek next level assistance in determining if they actually have paying customers, targeting specific customers' segments, through business intelligence ultimately building or designing something that customers want to buy and use.