Earlier this year, 1871-based Bunker Labs traveled to Washington, D.C. during White House Demo Day to be honored by President Obama for its contribution to technology and entrepreneurship. And with numbers like theirs, it’s not hard to see why.
Launched in just November of 2014, the accelerator has already set up shop in nine other markets. In that time, their member companies have cumulatively raised more than $16 million in capital, $5.8 million in revenue, and created jobs for more than 130 workers.
The first-of-its-kind incubator and accelerator operates exclusively for veterans looking to dive into the world of entrepreneurship. Built by veteran entrepreneurs for veteran entrepreneurs, Bunker Labs helps connect companies with the resources and community they need to be successful.
In honor of Veterans Day, here’s a look at some of the vet-centric startups that call the Bunker’s Chicago headquarters home.
Brand, a mobile app that marries the social capabilities of Instagram and the crowdfunding potential of Kickstarter, is a micro-funding platform that provides a platform where users can upload digital content and donate/receive money to help support causes, contribute to life goals, and celebrate hobbies and passions.
“[Brand is] a social media app with a monetized ‘like’ button,” said Will Crane, Brand’s President and co-founder.
The company, which was founded by three veterans including Crane, his brother Tommy, and Daniel Panzarella, said they knew from the get-go they’d have challenges entering the marketplace.
“We lacked the network and the education to start a business,” Crane said. “In the military the phrase ‘permission granted’ is frequently used. The phrase translates to ‘this is your job, figure it out.’ It's a way to keep people from asking too many questions. In the military, you are made to be leader, and leaders get their job done no matter what. We took this mentality and ran with it.”
Brand has been with Bunker Labs for almost a year and said the time spent with the vet-friendly hub has been invaluable.
“We are surrounded by a community of like minded people, not only in the tech world, but also as veterans,” he said. “Military veterans all have a shared experience. An experience 99% of the country doesn't have. Therefore, we want to help one another out, which makes collaboration seamless.”
Suggesthat is a social recommendation app that’s designed to be your go-to food and travel guide for Chicago. The app, a Yelp-inspired platform that integrates videos and photos into its in-depth reviews, provides a more holistic and informed alternative to social recommendations.
“Our approach is uniquely centered in our belief of improving the world of reviews by capturing experience through photos and revealing it through videos,” said Jan Gorospe (pictured above right), founder and CEO of Suggesthat.
Gorospe added that his experience in the military instilled within him the necessary traits to run a business.
“The military ingrained in me a sense of pride and responsibility,” said Gorospe, founder and CEO of Suggestthat. “This forced me to take ownership and initiative.
“It also taught me to persevere and fight through all circumstances — both good and bad,” he added. “These are traits that are very important when starting a business.”
Tribe is an easy to use, zero-adoption task manager that resembles a personal assistant who lives in your inbox. Whenever you email someone internally or externally with a specific task in mind, you can cc [email protected], which will send you both a daily check-in to report progress until the task’s completion. No software downloads or sign ups are necessary — it works organically within your email to help you keep on task.
“Entrepreneurship, much like the military, is far more glamorous on TV than in real life,” said Tribe CTO Sam Harris. “There are so many painful and mundane but absolutely necessary tasks that need to be done every single day. What's more, in school and at many jobs, if you have a good enough excuse for why you didn't accomplish the tasks, then you can get a pass. In the military, as in entrepreneurship, you will have many great excuses for why you didn't accomplish the mission, but at the end of the day the excuses will not save you.”
Harris, a serial entrepreneur behind companies like FindTraderIM.com and Speedbridge, just celebrated Tribe’s recent graduation from Techstars Chicago. In his eyes, Chicago’s tech scene is very egalitarian.
“If you have a product, a market, and revenue growth, someone will invest in you,” he said. “If you don't have any one of these things, important people will take meetings with you and suggest ways to improve. There are no handouts. Investors don't seem to have much of a fear of missing out on the next ‘hot’ company. They want to see a solid and functioning business, and are less interested in your experience, your credentials, or your connections.”
More than anything else, Harris said that a sense of community and support is what veterans working in tech — and entrepreneurs in general — need most.
“What we need as veteran entrepreneurs is the same thing all entrepreneurs need,” he said.
Code Platoon is a new Chicago coding bootcamp based out of Bunker Labs that’s designed specifically to arm veterans with the technical skills they need to launch a successful career in tech.
As a non-profit, Code Platoon’s 16-week bootcamp offers a deeply discounted program for veterans compared to other options open to the general public.
Rodrigo Levy, Code Platoon’s founder and executive director, said veterans offer a uniquely-qualified repertoire kills most employees look for in top candidates.
"I would encourage corporate leaders to think about what attributes they are looking for in their employees,” said Levy.“If the answer is leadership, ability to work in teams and resilience, then I encourage them to make a special effort to hire veterans, as their military experience has instilled those characteristics."
Code Platoon is accepting applications until the end of November, and the programs very first cohort is scheduled to begin in February 2016.
Image via Shutterstock
.jpeg)
