Wayne State’s conference room witnessed a display of inspiration and collaboration on Wednesday as recently graduated prospective entrepreneurs sought to turn their dreams into reality with the help of Venture For America (VFA) based in Detroit. VFA, a national nonprofit organization, empowers aspiring entrepreneurs by providing them with training, coaching, and valuable connections.
At the core of VFA’s mission is a two-year paid fellowship program, boasting a community of 1,600 fellows and alumni. This program serves as a platform for inspiration, collaboration, and support, allowing participants to level up their entrepreneurial skills. More than 900 companies have already hired fellows through this program, making a substantial impact on communities in cities like Detroit and Baltimore.
A crucial aspect of VFA’s success lies in its commitment to inclusivity. The program strives to ensure that women, people of color, and historically excluded groups can envision themselves as entrepreneurs, creating a diverse ecosystem of talent and ideas.
“Our aim is to leave everything we touch better than we found it – with our Fellowship stronger and the entrepreneurship industry more diverse, inclusive, and welcoming,” ventureforamerica.org’s homepage reads.
VFA CEO Eric Somerville emphasizes the importance of accessibility, making it a key pillar in the organization’s accomplishments.
“Cities like Detroit and Baltimore are really fertile grounds for us to engage and make an immediate difference in the community.” Somerville said.
This approach, according to Somerville, has helped foster a community where all types of fellows can thrive, embracing the spirit of trying new things and connecting with new people.
The positive impact of VFA is not limited to Detroit alone; it extends across various American cities. The organization supports the growth of diverse entrepreneurial ecosystems through its programs, networks, and resources.
An important consideration for potential VFA participants is the salary structure. On average, Venture For America offers a yearly salary of $39,600, with salaries ranging from $17,000 for the bottom 10th percentile to $89,000 for the top 90th percentile. Additionally, the average hourly wage is $19.04. Salaries may vary depending on the department and geographic location, with research and development departments and cities like Baltimore, MD, and Philadelphia, PA, offering higher pay.
The essence of Venture For America was showcased as new fellows embarked on their paid fellowship journey, turning their aspirations into tangible career paths. Founded in 2011, VFA has frequently expressed its aims to stimulate economic growth and job creation by connecting recent college graduates with startups and early-stage companies in cities with burgeoning entrepreneurial ecosystems.
