New York, NY – November 11, 2022 – WeWork (NYSE: WE), one of the leading global flexible space providers, today continues its commitment to the Veteran community through the continued hosting of the Veterans in Residence Program (ViR) and sponsorship of the 2022 New York City Veterans Day Parade, supporting the United War Veterans Council.
This marks WeWork’s fifth consecutive year of the Veterans in Residence Program, a peer-facilitated, six-month business incubator that provides veteran and military spouse entrepreneurs a networking community, business skills, and workspace to help launch and grow their business. According to Bunker Labs, of this year’s first cohort participants who completed the program in June 2022:
- 33 percent of participants saw their monthly business revenue increase; of those, 67 percent reported an increase of greater than 25 percent
- 78 percent were able to gain tools and resources to help grow their business
- 65 percent made connections to potential advisors/mentors
- 49 percent made connections to potential customers
- Over one-third say ViR increased the company runway for the future
Since the launch of the Veterans in Residence Program, more than 1400 Veterans and military spouses have participated in the six-month incubator program, which is held twice a year. The current cohort, which operates in over 34 cities across the country, will culminate with showcases nationwide on December 7, 2022.
“Entrepreneurship has become a key avenue for Veterans and military spouses to create an impact and we are grateful for WeWork’s contributions to their stories,” said Blake Hogan, CEO at Bunker Labs. “Through the spaces, resources, and powerful community WeWork has provided us access to, the Veterans in Residence program continues to impact so many of America’s communities and we look forward to seeing what our cohorts can achieve as a result of this partnership.”
The partnership coincides with WeWork’s participation in the annual New York City Veterans Day Parade supporting the United War Veterans Council. This marks the second year that WeWork has sponsored the parade as part of its ongoing efforts to support Veterans.
“WeWork is proud to continue our support of the Veteran community through the New York City Veterans Day Parade and our Veterans in Residence program in partnership with Bunker Labs,” said Roberto Concepción, Global Head of Inclusion & Diversity at WeWork. “As we invest in our purpose to harness the power of community to make a positive impact, we are committed to empowering those who have served this country, inside and outside of their entrepreneurial ventures.”
WeWork (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become one of the leading global flexible space providers committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.
About Bunker Labs:
Bunker Labs is a 501(c)(3) nonprofit and a national network of veteran and military spouse entrepreneurs dedicated to helping members start their own businesses. Bunker Labs is committed to seeing veterans and military spouses have the network, tools, and resources they need to launch and grow their own business.