What is VETEC?
The Virginia Employment Though Entrepreneurship Consortium or VETEC is a 52 month $8.3+ million impact study program funded by the U.S. Department of Labor that is designed to provide WIA-eligible adults and dislocated job seekers, particularly veterans, from the Northern Virginia, Richmond and Hampton Roads workforce areas with training and technical assistance to start their own businesses.
Participants will be randomly selected by a third party evaluator who will access the outcomes achieved from the core entrepreneurship training services offered through this program. Participants in this program will receive training in areas such as Understanding the Basics for Starting a Business; Accounting; Finance and Credit; and Sales and Marketing. They will also receive one-on-one counseling services, mentoring and networking opportunities.
The 3 VETEC regional workforce projects are:
ENOVATE – Employing Northern Virginia Through Entrepreneurship – serving the Northern Virginia areas including Fairfax County; Loudoun County; Prince William County; City of Fairfax; City of Falls Church; City of Manassas; and the City of Manassas Park. Along with the SkillSource Group, Inc., the other consortium partner organizations include Northern Virginia Community College, the Business Development Assistance Group and the Fairfax County Department of Family Services (the One Stop Operator).
Launch Hampton Roads – serving the Isle of Wight County, Southhampton County Chesapeake, Franklin, Norfolk, Portsmouth, Suffolk, and Virginia Beach. Old Dominion University is a consortium partner providing customized training to program participants.
Greater Richmond GATE – Growing America Through Entrepreneurship in Greater Richmond – serving Charles City County, Chesterfield County, Goochland County, Hanover County, Henrico County, New Kent County, Powhatan County and the City of Richmond. Entrepreneurial training provided by the Community College Workforce Alliance.
Who is eligible?
All eligible adults and dislocated job seekers must meet federal Workforce Investment Act eligibility:
- Be 18 years old or older
- Be authorized to work legally in the U.S.
- Able to meet military selective service registration requirements (males born after January 1, 1960)
- Individuals, who were terminated or laid off from their most recent job AND approved or eligible for unemployment insurance (UI) compensation AND unlikely to return to their previous occupation, are considered dislocated job seekers. Dislocated job seekers are not required to meet the low-income criteria
- Priority will be given to low-income individuals, recipients of public assistance and military veterans
- Must attend a regional information session or view the information video
- Must complete the WIA eligibility determination process
- Once determined eligible, must complete program application
- After completing VETEC application, candidates will be randomly selected by a third party evaluator for the “Treatment” or the “Control” Group placement
Will receive specialized entrepreneurial training and technical assistance to start own business over a 12-month period
Can pursue all WIA services available to start own business
VETEC Information Video