New Fund announced to support NYC boss up program graduates

The New York City Department of Small Business Services (SBS), the New York City Department of Veterans’ Services (DVS), and the Ron and Kerry Moelis Family Foundation came together to celebrate the graduation of participants in the NYC Boss Up Veteran Entrepreneurship Program.

The ceremony, held in New York City, honored eight veteran small business owners who each received a $15,000 grant. This grant follows their completion of an SBS business mentorship program aimed at fostering business growth. With an initial $5,000 grant received last year, each recipient now has a total of $20,000 to further their entrepreneurial endeavors.

NYC Boss Up, a philanthropic initiative dedicated to promoting entrepreneurship in New York City, has expanded its reach with the launch of the NYC Boss Up Entrepreneurship Program in collaboration with the New York City Housing Authority (NYCHA). This initiative provides $1 million in support over five years to aspiring entrepreneurs residing in NYCHA residences. Additionally, the Ron and Kerry Moelis Family Foundation has pledged $180,000 to bolster the Boss Up veterans’ cohort.

At the graduation event, Mr. Moelis unveiled a new fund in partnership with FJC: A Foundation of Philanthropic Funds. This fund aims to engage other entities interested in supporting the growth of entrepreneurs through the NYC Boss Up program. Administered by FJC through a specialized Donor Advised Fund, this initiative ensures compliance with U.S. charitability regulations while facilitating awards to individuals.

SBS Commissioner Kevin D. Kim expressed pride in the inaugural graduates, hailing them as exemplars of entrepreneurial excellence contributing to New York City’s vibrant small business landscape. Commissioner James A. Hendon of the Department of Veterans’ Services emphasized the program’s role in uniting diverse stakeholders to champion veteran entrepreneurs on their transformative business journeys.

Ron Moelis, co-founder of the Ron and Kerry Moelis Family Foundation, underscored the program’s inclusivity and its vital contribution to the city’s economic recovery. Sam Marks, CEO of FJC, commended the collaborative effort in delivering essential support to New York City’s veterans, highlighting the significance of philanthropic partnerships in addressing community needs.

The event showcased the accomplishments of the eight grant recipients, representing a diverse range of businesses poised for expansion. From educational enrichment programs to food ventures and healthcare platforms, each entrepreneur embodies the spirit of innovation and resilience. As New York City continues its post-pandemic recovery, the NYC Boss Up Veteran Entrepreneurship Program stands as a testament to the city’s commitment to fostering a dynamic entrepreneurial ecosystem and empowering veteran-owned businesses.