The national 501(c)3 organization PenFed Foundation announced Mississippi River Flavor Company as the winner of its Veteran Entrepreneur Investment Program Ignition Challenge.
The award was presented by MidCountry Bank, including $75,000 in total grants for the winner and finalists. Mississippi River Flavor Company won a $25,000 grant and will also receive publicity and a full-length promotional video. The second-place finalist, Bucket of Bread LLC, received a $20,000 grant, while runners-up also received $10,000 grants.
The challenge supports veteran, active-duty, guard, reserve and military spouse entrepreneurs across the Upper Midwest by inviting them to outline their business impact and goals and providing top businesses with mentorship and funding. Businesses could pitch their plans to a panel consisting of leaders from both PenFed Foundation and MidCountry Bank.
“We would like to thank MidCountry Bank for their generosity and helping to make this challenge possible,” said PenFed Foundation President Shashi Vohra. “We were amazed by the quality of applicants, and we are thrilled to be a part of the promising futures of these veteran-owned companies.”