A company founded by Army veterans that makes it easier for travelers to give back to the communities they visit by purchasing destination-themed patches has been named the winner of the PenFed Foundation Ignition Challenge Powered by Purefy for military entrepreneurs of color.
Henry Rosario, the co-founder of Outpatch, served in the Army’s missile defense branch and served overseas in Korea.
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“We started Outpatch to make it easier for travelers and tourists to give back while they’re traveling and in the process raise more money for small, local nonprofits,” he explained.
Outpatch sells souvenir patches that are designed by local artists.
“All travelers or tourists have to do is buy these souvenirs and then we donate 50 percent of our proceeds to a nonprofit in the place that the patch represents,” Rosario explained.
Outpatch began in Vermont and then moved to Colorado, home to co-founder Rachel Willis.
“We’ve just been hopping around state to state,” he said with a laugh. “It’s been quite an adventure.”
Rosario said Outpatch hopes to be in all 50 states by the end of this year.
The Ignition Challenge is a competition in which military entrepreneurs with a new business or an idea for a business can identify their business impact and goals, compete for votes, and winners receive both funding and mentorship.
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“Veterans face challenges building professional networks and accessing capital, and these challenges are compounded for veterans of color. PenFed Foundation is committed to supporting veteran entrepreneurs of color and recognize the vitally important role they play in communities and the economy,” said PenFed Foundation Senior Director of Veteran Entrepreneurs Seda Goff.
Dope Coffee Company, Abacrop and Youth Enrichments were the top three finalists in the challenge.
Each of the finalists had the opportunity to pitch a panel consisting of PenFed Foundation and Purefy leadership. Outpatch, received a $25,000 grant. Dope Coffee Company received a $15,000 grant, Abacrop a $5,000 grant and Young Enrichments a $2,5000 grant.
In addition to funding, PenFed Foundation staff is providing coaching and support to the four companies to help each fine-tune their businesses and further position them for future success.
The foundation is also providing national promotion to the four finalists. To learn more or to apply to future Ignition Challenges, visit here.
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Reach Julia LeDoux at Julia@connectingvets.com.