Micro Markets

Elevate Vending among veteran-owned businesses selected for PenFed accelerator program

Photo: PenFed

March 19, 2025

Elevate Vending, founded by U.S. Air Force veteran Nicholas Grillo, has been selected to participate in the PenFed Foundation's Veteran Entrepreneur Program's March 2025 cohort. The accelerator program, designed to support veteran-owned businesses, features a three-day in-person seminar in Bentonville, Arkansas, followed by a six-week virtual program, according to a press release.

Elevate Vending, based in the Washington D.C., Maryland, and Virginia area, provides micro-market solutions, emphasizing a "concierge level of service" through AI-driven hardware and software, custom markets and strategic partnerships. The company joins a diverse group of veteran-led businesses in the program, which aims to provide networking, mentorship and educational opportunities.

The PenFed Foundation's Veteran Entrepreneur Program offers seminars with business leaders covering topics such as business development, marketing, legal considerations and investor pitching. "The PenFed Foundation is proud to continue propelling veteran-led companies to new heights with the first cohort of 2025," PenFed Foundation Director of Veteran Entrepreneur Program and retired U.S. Marine Corps Brig. Gen. Terry Williams said in the release.

The program is offered free of charge to military founders, with the PenFed Foundation not taking equity in the participating businesses. Other businesses in the March 2025 cohort include companies specializing in construction communication platforms, air mobility technology, AI for maritime applications, maternal health monitoring, cybersecurity, agricultural technology and nutrition bars.

Since 2018, the PenFed Foundation's Veteran Entrepreneur Program has supported over 120 military founders, facilitating access to startup capital, networking and mentorship.