Veterans Day is a long way off, but this and every Fourth of July we celebrated the freedom secured for us by men and women serving their country at home and around the world. As a country, we owe it to veterans to give them the opportunity to participate in the American dream. Because of their military experience, veterans offer a vast pool of tech talent, innovative capabilities and entrepreneurship.
The Colorado Technology Association recently hosted its monthly Industry Collaboration Briefing. At the meeting Brian Abrams of Lazarus Israel Opportunities Fund LLLP gave an inspiring overview of how Israel has become a technological powerhouse relative to its size. For example, according to the book Start-Up Nation, Israel has the “highest density of start-ups in the world…one for every 1,844 Israelis.”
Start-Up Nation argues that much of Israel’s success hinges on its ability to capitalize on military talent and transition veterans into the private sector. Unlike the United States, Israel has conscription, which accounts for its high concentration of military personnel entering the workforce. But even without conscription, the United States military has provided the training, discipline and drive that is motivating and enabling U.S. veterans to become entrepreneurs and innovators in technology.
It would make sense for companies and states to invest in programs that attract military tech talent and foster it. It could help address the perceived shortage of technology professionals and may alleviate the unemployment rate among our veterans.
The military experience of many veterans makes them ideal candidates for entrepreneurship. They make difficult decisions in battle and are trained leaders. TechStars’ Patriot Boot Camp is a great example of this type of thinking. The boot camp is a part of the RisingStars program and will “educate and mentor a selected group of Veterans and Service Member founders to build technology companies.” It’s a smart move and a worthy cause.
More cooperation between the private sector and government can reap big rewards. We should think through the entire lifecycle of a military career starting at recruitment and find ways to integrate veterans into careers that leverage their training and expertise in the next generation of American innovation. Governments can also look at their business policies and consider how to alleviate barriers to entry for veterans starting tech businesses helping them access private capital and economic development incentives.
The innovation economy thrives on freedom - freedom to think about, discover and expand new ways of doing business. Let’s leverage the power of the Internet and technology to give back to our veterans. We can empower them to have a better quality of life while marveling at the result of their creativity and determination. They are capable of fulfilling the American dream, creating businesses that innovate the world they fought so hard to protect.