A spice company founded by two Air Force veterans has been named the winner of this year’s PenFed Foundation’s Veteran Entrepreneur Investment Program Ignition Challenge presented by MidCountry Bank, which included grants for the winner and finalists totaling $75,000.
Mississippi River Flavor Company won a grant of $25,000 and will also receive a full-length promotional video and publicity. Air Force veterans Jaden and Erica Peck founded the company that hand mixes an assortment of all-natural spice blends and rubs that can be ordered and shipped around the nation. One of their specialties includes a collection of blended rubs that celebrate all five branches of the armed forces.
“We were amazed by the quality of applicants and we are thrilled to be part of the promising future of these veteran-owned companies,” said PenFed Foundation President and PenFed Credit Union Senior EVP and President of Affiliated Businesses Shashi Vohra.
This challenge supports veterans, active duty, guard, reserve, and military spouse entrepreneurs located in Iowa, Minnesota, North Dakota, South Dakota, and Wisconsin by inviting them to identify their business impact and goals and providing the top businesses with funding and mentorship.
Second place finalist Bucket of Bread LLC received a grant of $20,000. Army veteran Chris Wysong founded the company, which provides high-quality dough mixes. Each bucket holds about three and a half pounds of dough that come in traditional white dough, hearty wheat dough, and seven grains dough. The company has also started the Bucket Benefit Program, where donated buckets are brought to community kitchens and organizations and help to combat hunger in America.
Runners-up also received $10,000 grants:
- Barnside Woodworks – The small woodworking business was founded by Air Force veteran John Scholtz. The business custom makes cutting boards, keepsake boxes, and even end tables.
- Catalyst Group – is a coaching group that combines occupational therapy and certified Enneagram coaching to help their clients reach their professional potential. It was co-founded by Marine Corps veteran Ryann Engholm and certified Enneagram coach Jessie Johnson.
- Rivers Edge Bistro – the restaurant founded by Air Force Reserve member Andrew Britton offers inventive, shareable plates to pair with beverages from Rush River Brewery.
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Each of the businesses had the opportunity to pitch to a panel consisting of PenFed Foundation and MidCountry Bank leadership.
In addition to funding, VEIP staff is providing coaching and support to all winners and finalists to help each fine-tune their businesses and to further position them for future success.
Reach Julia LeDoux at Julia@connectingvets.com.
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