ANNUAL REPORT 2017

As we mark the first year since our launch, I am honored, proud and – most of all – excited

for what the future holds for our veteran entrepreneur community. When we set out, our

goal was to transform Raleigh – Durham into the center of veteran entrepreneurial activity.

Since we planted the guidon, our community has engaged with us in a collaborative way to

help us provide veteran entrepreneurs with access to first class resources and support

throughout the community and the state. By joining with us, we have begun to create a

statewide network where veteran entrepreneurs can come to start businesses, grow them

and succeed!

This annual report captures just a few of the many highlights from this past year. Bunker

Labs is first and foremost a learning organization and most of this past year was focused on

discovering how we can best support our veteran community. The mission of Bunker Labs is

twofold: first to accelerate the growth of early stage companies as

measured by revenue, headcount, connections made (that have an impact), and capital raised. The second social-

impact mission of Bunker Labs is to create a “High Collision” environment, or a version of “The modern day VFW –

where veterans come together without an agenda because they want to connect, create, innovate and meet like-

minded veterans – and form that social ecosystem for the veteran community in Raleigh-Durham and the state of

North Carolina. As we continue to grow, our number one priority is to ensure we are having impact while we create a

sustainable model for the future.

None of what we have accomplished this past year would have been possible without the support and vision of our

national leadership, fellow Bunker leaders, corporate and foundation sponsors and community partners. Because of

their support, Bunker Labs RDU will be able to further expand our program in support of veteran needs across

diverse business sectors. This type of community support allows us to continue to build upon our already strong

foundation of mentors, investors and partner resources. It is because of these leaders that we have been able to

introduce our members to the rich entrepreneurial resources our community offers. I am extremely grateful to see

all of the goodwill and leadership that exists within our community. Finally I am thankful for all of the amazing

veterans who have joined with us and embraced our mission. Know that it is you who inspires me and I am truly

honored to have the opportunity to once again serve by your sides.

Dean Bundschu

Executive Director, Bunker Labs RDU

“Entrepreneurs thrive best in

places where they have

communities or “ecosystems”

to draw upon – people who can

stimulate their thinking, offer

advice and assistance…”

— Kauffman Foundation

According to the Institute for Veterans and Military Families at Syracuse

University, among the generation of World War II veterans, 49 percent of veterans

started their own business after returning home. This incredible commitment to

entrepreneurship among the “greatest generation” led to an unprecedented

post-war economic boom. This story has not yet been replicated by the post-

9/11 generation of veterans.

According to the Kauffman Foundation study, while 12 percent new

entrepreneurs were veterans in 1996, in 2016, just 4.5 percent of new

entrepreneurs were veterans.

“Younger veterans now have less

support…as they consider their own

entrepreneurial ventures: fewer networking

opportunities, mentors and funders…”

— Kauffman Foundation

Given our state’s veteran population, military installations, veteran

business community and business climate, we feel Bunker Labs

RDU has the unique opportunity to become the hub for veteran

innovation and entrepreneurship.

More than 769,000 veterans live in North Carolina, representing

9.8% of the state’s total population with the majority (97,184

veterans) located in the Raleigh-Durham metropolitan area alone.

Today, North Carolina has the fourth-largest active duty military

population in the U.S. distributed among several major military

installations. Additionally, there are over 87,500 veteran owned

firms in North Carolina generating over $54.9B in receipts, which

makes the state the 8th largest veteran owned business economy

in the nation.

Bunker Labs RDU is seizing this opportunity to expand the ranks of

veteran entrepreneurs here in North Carolina. As the American

economy advances and innovates, the value of the American

veterans needs to be understood and activated.

CREATING A “HIGH COLLISION” ENVIRONMENT THE BUNKER OPPORTUNITY

The Bunker Labs Ecosystem

Bunker Labs has developed “high collision” environments that efficiently

connect veterans with relevant stakeholders and resources

Our sponsors and partners are the lifeblood of our organization. We simply

cannot thank them enough for their incredible support. It is because of them

that we are able to continue our mission to help military veterans start and grow

their businesses.

“At MetLife, we know that veterans bring

extraordinary talent to every endeavor. We are proud

to hire them as employees and honored to support

them as entrepreneurs through our work with Bunker

Labs. This is a win for our business and our

community.”

Timothy McClain

Co-Chair, MetLife Military Veterans Network and

former Captain, U.S. Army

EPIC (Entrepreneurial Program for Innovation & Collaboration) CEO Circle

Bunker Braintrust Thusdays

EPIC is Bunker Labs 10 week rapid-immersion experience that utilizes the

EntreDot 6 Steps to Success curriculum to help entrepreneurs develop the

talents and skills required to be successful.

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The primary focus of EPIC is to assess, train and develop

entrepreneurial minded military veterans.

The second focus is to support experimentation,

development and growth for their entrepreneurial

ventures.

The third focus is to cultivate a resource-rich

community within which Bunker RDU members would

be highly likely to secure their first sales contracts,

startup or growth funding, access to co-founders, first

hires, attorneys, auditors, advisors, mentors, coaches

and vendors of many types.

Continuing program designed to surround CEO's of

validated, stable companies with the resources,

networks, and mentors they need to position their

company for future success (i.e. hiring, expanding

to new markets, raising additional financing). Open

to successful veteran CEO's & small business

owners.

Thursday Braintrusts are bi-weekly community collaboration and

mastermind style workshops for all members, prospective members,

invited guests and a steady stream of thought leaders interested in

interacting with Bunker Labs members and others.

Thanks to the support of The RTP

Foundation, Bunker Labs has a

fantastic space at The Frontier that

we can truly call home.

Bunker RDU officially launched in December of

2015. Our first cohort of 12 member companies

kicked off our inaugural VET programming in

February 2016. During this first year we have

constantly worked to refine our programming

through our partnership with EntreDot, gaining

insights from subject matter experts and sharing

big ideas among other veteran entrepreneurs.

During our first year, Bunker RDU saw significant

demand for an intensive course for new

entrepreneurs who were unavailable during the

day. This led to the creation of our EPIC program,

a 10-week course built around best-in-class

curriculum and practices in entrepreneurial

education. We also continued to engage the

community, our members,

“When Bunker Labs presented

their vision for Bunker in a Box

our team immediately saw the

value. This tool will allow service

members and veterans to access

the service offerings of Bunker

Lab’s programs remotely and will

help drive participant growth and

collaboration. The Bob Woodruff

Foundation is thrilled to be a

partner with Bunker labs and

looks forward to their continued

success.”

Anne Marie Dougherty

Executive Director

Bob Woodruff Foundation

With Bunker in a Box,

we’ve curated

hundreds of hours of

thought leadership to

help veterans learn

the language of

entrepreneurship and

create a vision and a

plan.

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mentors, sponsors and partners over the course of the year through our Bunker Brews series,

BraintrustThursdays and partner roundtables.

We are looking forward to finding new ways to make our second year just as incredible as our

first. Our goal is to support 2 VET entrepreneur-in-residence programs and 3 EPIC programs in

RDU this year. We will also look to expand our programming through partnerships with

organizations that support our mission throughout the state.

“Through their military service, Veterans gain skills and

experiences that contribute to starting and sustaining a small

business. JPMorgan Chase is a leading small business lender with

a long history of supporting the success of active-duty service

members, veterans and their spouses. Bunker Labs, a partner of

JPMorgan Chase, has done a tremendous job of making

entrepreneurship a viable path for our talented men and women

Veterans by providing them with the tools necessary for small

business success.”

Ross Brown

Head of Military and Veteran Affairs

JPMorgan Chase & Co.

Bunkerinabox.org

THE MUSTER RDU

Designed to bring together hundreds of participants and partners for a

full day of veteran entrepreneurs pitching their businesses, keynote

speakers, workshops and panels, a pitch competition and marketplace.

This year’s event attracted over 280 participants, to include 230

veterans. 11 sponsors supported the event, 81 veteran led companies

attended and 40+ guest speakers, moderators, and panelists

participated in 14 workshops, panels and events throughout the day.

Additionally, 12 veteran led startups participated in a pitch competition

where the winner took home a $5K prize and 14 companies had the

opportunity to showcase their products and services.

“Bunker Labs RDU did a tremendous job putting together the

Muster RDU, which had a dramatic impact on the lives and

business opportunities of many of our veterans. Our law firm,

PoynerSpruill, was a major sponsor because we know that the

work of Bunker Labs makes a true difference for our veterans

and we strongly support those who have served our country.

As a former member of the U.S. House Armed Service

Committee, I am honored to work with ourveterans and retirees. Our firm was honored not only to be a supporter of the

Muster RDU, but also an active participant and we look forward to working with

our veteran entrepreneurs as they build their businesses and expand their

entrepreneurial opportunities.”

Mike McIntyre

Director of Government Relations, Member of Congress 1997-2015

Poyner Spruill

North Carolina is consistently ranked high in

business climate and quality of life. Raleigh and

Durham are ranked as two of the top

communities for veterans and the area has a

strong entrepreneurial ecosystem. Bunker RDU

has an experienced leadership team that has

been able to tie into the significant resources

already available to veterans within both the

public and private sectors.

Dean Bundschu – Executive Director

Dean is an entrepreneur, accomplished sales

professional and business advisor who has spent his

entire career building successful businesses for

himself and his clients. Prior to venturing into the

business world, Dean served 8 years as an Infantry

Officer in the US Army, to include a combat tour in

support of Operation Iraqi Freedom.

Michael Penney – Program Manager

Mike served 8 years in the Marine Corps infantry, deploying

three times to combat in Iraq and Afghanistan where he

served as an embedded advisor to the Afgans in Kajaki and

Sangin. After leaving the Corps in 2012, Mike set out as an

entrepreneur. Now he is one of the hosts of Cigars and Sea

Stories, Chief-contributor at Bloodstripes.com, developer of

the 5 Paragraph Business Plan and a public speaker who

was recently invited to speak at TEDx Raleigh.

Bill Warner – Educational Programs

Bill is a former Army Officer and Vietnam Veteran. Bill

has forty years of business experience, as a CEO and

general manager with companies like IBM, Intel,

Dialogic, Banyan Systems and LiveWireLogic. He

founded Paladin and Associates, a firm that helps

executives create successful businesses by providing a

broad array of executive services. He is also the Co-

founder and Fund Executive of the Inception Micro

Angel Fund (IMAF-RTP).

Brad Lienhard – Operations Development

After a 28 year career in product management, supply

chain management, and profit center leadership at The

Dow Chemical Company; Brad moved to the RTP area to

begin 16 years of founder/investor/executive support

activity with Triangle based start-ups. These start-ups have

been based on novel technologies licensed from the

Triangle’s major universities and ideas launched by

working people wanting to pursue a dream and a new

career.

Terry Conlon – Entrepreneurship Instructor

Terry is an Air Force veteran who has over 30 years

of leadership experience in manufacturing,

technology, and professional services companies,

including his own consulting and executive coaching

firm. He has excelled throughout his career as a

leader, strategy planner and implementer, financial

and operations executive, mentor and coach, and a

highly effective people change leader at The

Northern Trust Bank, Nortel Networks, Siemens, and

Vishay InterTechnology.

CJ Scarlet – Evidence Vault“The Bunker RDU has had a tremendous impact on me and my

business! The mentoring, the educational sessions, the networking

and the connections have been phenomenal. I would recommend

this program for every veteran entrepreneur who is serious about

growing their business.”

Budd Radvoich – Neusiok Wines“As a Vietnam veteran I have always known the need for veterans

helping veterans. The Bunker does that but also helps veterans who

are or are striving to become entrepreneurs. Although I was

skeptical at first the Bunker family showed me new ways to look at

and advance my business. The relationships created, both personal

and professional, have impacted my life in ways I never thought

possible.”

Nick Bradfield – Divvy Investments“If you are a veteran who is interested in starting a business, run

(don’t walk) to the nearest Bunker Labs. It is different from other

accelerators in that there is another level of trust between

veterans. We all genuinely want to collaborate to help each other

succeed. Bunker Labs is the way to tap into the veteran network

nationwide.”

Alisha Ramsey – Tellurvision Studios“Bunker Labs provided the inspiration, education and network to

help my business thrive! The education, Braintrusts, one-on-one

mentoring and peer-to-peer support has allowed me to grow

professionally and personally. Being part of a community with

fellow veteran entrepreneurs who understand how difficult

entrepreneurship can be, motivates me to be the best I can be.”

Edward Hall – Petrics“Bunker Labs has been nothing short of helpful and inspirational for

me and my company Petrics. From day one, Bunker has significantly

grown my network, knowledge, and passion to build my business

and pay it forward by helping other veterans. I am honored to be part

of this group that I am now luckily enough to call friends. Because of

Bunker RDU, I was able to connect to a hardware design firm that is

ready to invest in my company to help bring our flagship product to

market. Without Bunker Labs this would not have been possible.”

Michael Wayne – Qualia Networks“Bunker Labs has been a tremendous resource where veterans

and civilians alike can meet in a learning environment where you

help each other succeed. The instruction, exposure and

connections we have made have proven to be essential to our

business success”

The Toof-inger BrushThe Toof-inger Brush is a daily-use toothbrush that is

designed to facilitate healthy brushing behavior by-the-way-

of-the-grip.

www.toofingerbrush.com

PermitZonePermitZone informs contractors if they need a permit and

gives them the ability to pull a construction permit online

from anywhere.

www.permitzone.com

Neusiok WinesWas started by two combat veterans with a vision of

creating a unique boutique winery. As a result they have

found a niche where their flexible business model allows

them to tailor the amount and types of wine they can

produce so that they can customize individual orders.

www.neusiokwines.com

Startup Impact

Bunker Labs RDU has directly

supported 48 veteran run

startups through our, EPIC, CEO

Circle and Braintrust

programming. We have indirectly

supported over 150 additional

companies through the Muster

RDU, Bunker Brews, VetStart and

partner events.

BLAZnTECHBLAZnTECH produces the world’s first and only motorized

Weapons Cleaning System, a pocket-sized tool that manages to

quickly and effectively clean most commonly used rifles and

handguns.

www.blazntech.com

Divvy InvestmentsDivvy is an online subscription based tool designed to simplify

retirement investing. It provides low cost asset allocation

advice using data science to recommend specific index funds

for the chosen models and provides alerts to help customers

rebalance.

www.divvyinvestments.com

K9 SaluteThe mission of K9 Salute is to honor and serve our K9 heroes that

serve the military, law enforcement, fire and search & rescue. K9

Salute provides organic and nutritional treats for you to honor your

own hero. All ingredients are locally sourced from veteran farmers

and a portion of all profits are donated to help outfit K-9s with

ballistic vests.

www.k9salute.com

PetricsPetrics helps you keep your pet healthy – with tools that

are elegant and easy to use. It’s a very cool three-part

system that includes a feeder and bowl, a wireless collar

device, and a really handy app.

www.petrics.com

Off Duty BlueOff Duty Blue is a security logistics solution that allows clients to

easily request security details, officers to find work that fits their

schedule and departments to manage their workforce.

www.offdutyblue.com

IT IS OUR MISSION TO CATALYZE THE ENTREPRENEURIAL POTENTIAL OF THE MILITARY

EXPERIENCE TO LEAD THE AMERICAN ECONOMY

TOGETHER LET’S LAUNCH THE NEXT GENERATION OF VETERAN ENTREPRENEURS

Bunker Labs RDU

800 Park Offices Drive

Research Triangle Park

North Carolina 27709

Connect with Bunker RDU online:

Bunkerlabs.org

@BunkerLabsRDU

/BunkerLabsRDU

TheBunkerLabs