As an eight-year Air Force veteran with a combat adviser deployment to Afghanistan, followed by five fulfilling years at IBM as a product manager, I entered the business world armed with a unique set of skills.
In 2021, I co-founded Rownd, an adaptive, passwordless authentication startup. Brimming with energy, that company raised millions of dollars of venture capital and now authenticates millions of users a month for dozens of customers. Much of that success can be attributed to the training the military provides. In many ways, becoming an entrepreneur — a path that demands resilience and sacrifice — was a natural next step.
But as organic and rewarding as this venture has been, I quickly learned that entrepreneurship can be a lonely, daunting road. Luckily, the Air Force taught me something else: the extraordinary power of mentorship and asking for help.
Leading up to Rownd, I yearned for guidance and found it at DAV Patriot Boot Camp, a program dedicated to veteran and military-spouse entrepreneurs. I first attended the program in 2017 in San Antonio, where I learned how to launch a startup and received world-class mentorship from founders, venture capitalists and specialists. I’ve since attended four more boot camps, both as a participant and as a mentor. I’ve attended other great mentorship programs and accelerators, like YCombinator and Bunker Labs, and can confidently say Rownd wouldn’t be where it is today without them.
Consider Roger Bannister and the four-minute mile. Before Bannister, running a mile any faster was considered impossible. Yet, when he broke that barrier in 1954, 20 runners followed in the subsequent decade. That is the power of mentorship; of being shown what is possible.
Veterans transitioning into the business world often lack access to institutional knowledge, to the Roger Bannisters of their field. Seasoned founders and business leaders are crucial in filling that gap. They have walked the treacherous path of startups, made mistakes and emerged stronger. Their experiences can prevent others from straying down the wrong road. For veterans who have spent their formative years focused on serving their country, this guidance can be the key to their success.
And when veterans succeed as entrepreneurs, we all benefit.
According to the Census Bureau’s 2021 Annual Business Survey, veteran-owned businesses had an estimated $926.7 billion in receipts in 2020, employed 3.6 million people and paid $176.6 billion in annual payroll. A report from AIN Ventures, a venture capital fund and investment syndicate, further shows that veteran-led early-stage companies have a history of outperforming their nonveteran peers on a revenue basis.
We also know that veterans are mission-driven and found companies that make meaningful impacts. Take for example Jonathan Kuniholm, a combat-wounded Marine veteran and fellow DAV Patriot Boot Camp alum who is revolutionizing arm prostheses for amputees like himself. Or Ali Ahmadi, a Navy veteran and the founder of TCARE Inc., a data and analytics platform that connects caregivers to supportive resources to help reduce burnout.
Entrepreneurship is a relentless pursuit where failures often outnumber successes. Guidance from a mentor can be the difference between throwing in the towel and forging ahead. Particularly when it comes to veteran entrepreneurs, we have a vested interest in ensuring the latter.
Veterans are underrepresented in both venture-backed startups and more traditional small businesses, but we can all help change that. Many seasoned entrepreneurs out there are willing to share their insights and offer support. But we need more. We need experienced founders — civilians and veterans alike — to step up for our veteran community by volunteering to mentor. It is an honor and duty to do so, and it could be the catalyst for the next game-changing startup.
Rownd CEO Rob Thelen regularly volunteers as a mentor and speaker for DAV Patriot Boot Camp, a program of DAV (Disabled American Veterans). Founded in 1920, DAV is a nonprofit organization that empowers veterans to lead high-quality lives with respect and dignity. Learn more at dav.org. The next DAV Patriot Boot Camp will be held Oct 12-14 in the Cincinnati, Ohio, area. Learn more about the program at patriotbootcamp.org and email info@patriotbootcamp.org to become a mentor.
