Transforming Lives Through Second Chances: Defy Ventures

In celebration of our partners and the great work they do to advance economic progress for all, we interviewed some of our Nasdaq Foundation quarterly grant recipients about their roles, backgrounds and the importance of their work. We spoke with Andrew Glazier, CEO and President of Defy Ventures, on their mission to shift mindsets and provide people with criminal histories their best shot at a second chance through entrepreneurship, career readiness, and personal development training programs.
 

Tell us about Defy Ventures. What is its core mission?
Defy Ventures is a national nonprofit whose mission is to shift mindsets to give people with criminal histories their best shot at a second chance through entrepreneurship, career readiness, and personal development training programs delivered both in prison and in the community. Defy’s vision is to cut recidivism (return-to-prison) rates in half by leveraging entrepreneurship to increase economic opportunity and transform lives. Defy helps currently and formerly incarcerated people defy the odds in prisons, transitional facilities and in the community in nine states across the country. Together with the thousands of business executives and leaders in our network, we are helping to shift the conversation and landscape of opportunity for people with criminal histories.

Can you share a story that illustrates the impact of Defy Ventures?
Defy Entrepreneur in Training (EIT) Spence joined Defy’s Entrepreneurship Bootcamp in August of 2024 and quickly became a leader among his cohort peers as a gregarious and caring EIT. Throughout the Bootcamp, Spence decided on an idea for a procurement company called Seek & Source, helping companies find quality, eco-friendly supplies and materials at the best price. This would capitalize on his 8 years of experience working in procurement and logistics for various for-profits and nonprofits.

In January of this year when Spence started prospecting leads, he connected with a fellow New Jersey-based entrepreneur who runs a sneaker and apparel business, leading to his first contract for $7,500. Spence is continuing to develop his business through the Defy Business Accelerator program, building on the knowledge, structure, and connections to make his dream a reality.

Can you tell us more about Defy’s Pathway to Entrepreneurship program? What impact are you hoping the Nasdaq Foundation’s Quarterly Grant will have on its success?
Defy’s Pathway to Entrepreneurship program provides holistic, beginning-to-end support and training from business concept development to business launch for formerly incarcerated individuals who are interested in exploring entrepreneurship. The program includes three key program phases designed for formerly incarcerated entrepreneurs: an Entrepreneurship Bootcamp, a Pre-Accelerator, and a Business Accelerator. Our Entrepreneurs in Training, or EITs, who enroll in the Entrepreneurship Bootcamp, participate in a 17-week, twice-weekly online evening sessions led by a Defy facilitator. 

At the end of the Entrepreneurship Bootcamp program, EITs will have a business concept and a Minimum Viable Product idea ready for testing. The bootcamp program also supports the personal development of EITs, by helping them to develop a positive, entrepreneurial mindset.  During the Bootcamp program, EITs participate in two Business Coaching events, and a Business Pitch Showcase & Graduation. Upon completion of the Entrepreneurship Bootcamp, EITs earn a Certificate of Entrepreneurship from The Drucker School of Management at Claremont Graduate University.

Defy EITs who complete the Entrepreneurship Bootcamp and who wish to launch their business concept are invited to apply for the Defy Business Accelerator program, which is a 5-month program that supports EITs through the process of launching and growing a small business. If accepted into the accelerator, EITs undertake advanced coursework in entrepreneurship and business management while receiving coaching and 1:1 mentorship from executive- level business volunteers.

In addition to allowing us to continue our entrepreneurship pathway in markets across all 9 states, the Nasdaq Quarterly Grant has enabled us to pilot a new program offering within our Entrepreneurship Pathway specifically for formerly incarcerated people with tech skills. Our first tech entrepreneurship bootcamp kicked off in January 2025 and will complete in May. Businesses in development range from apps to make shopping safer to AI-enabled web applications. We are looking forward to advancing several EITs from this group into our accelerator this summer.

What’s on the horizon in 2025 for Defy Ventures?
This year, we hope to serve at least 100 Entrepreneurs in Training across the nation and support the launch of 25 new businesses. We are also working to incorporate AI into our entrepreneurship programming so that our EITs can learn how to take advantage of the power of AI in developing their businesses.