HPSP & business ownership?

[Medic741]

Hey there, have an opportunity to be a tech advisor (part owner) of a startup. Does anyone know if being a part-owner of a biotech startup would prevent me from signing up for HPSP?

App approved for final decision @ May 2 board

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[pgg]

I would assume that if HPSP didn't prohibit outside employment outright (surely it does? read the fine print) that you would still need formal approval to engage in off-duty employment. Which surely wouldn't be granted. HPSP graduates in GME are prohibited from moonlighting or holding 2nd jobs. I can't imagine that they'd let HPSP students do it.

 

[Homunculus]

Hey there, have an opportunity to be a tech advisor (part owner) of a startup. Does anyone know if being a part-owner of a biotech startup would prevent me from signing up for HPSP?

App approved for final decision @ May 2 board

do you personally own it or does an LLC or corporation you control own it? are you married? I don't think being a business owner per se would be against the rules-- but like @pgg mentions the rules for "working" during off duty hours are strict. how they would be able to enforce this I don't know-- if you had an internet business or some side gig where you are self employed I don't know how they would ever find out. it's not like they ask for your tax return each year.

I would assume that if HPSP didn't prohibit outside employment outright (surely it does? read the fine print) that you would still need formal approval to engage in off-duty employment. Which surely wouldn't be granted. HPSP graduates in GME are prohibited from moonlighting or holding 2nd jobs. I can't imagine that they'd let HPSP students do it.

technically I would say I'm not working a second job, I'm watching my partners run a business... active vs passive income I guess? interesting situation.

easiest place to go might be JAG-- though they'd probably just spout the regulation and you may have to read between the lines a bit.

let us know what you discover. and if it's promising and you are going to make mad cash let us know so we can get in before the IPO.

-- your friendly neighborhood maybe don't ask don't tell works with this caveman

 

[USArmyHPSP]

Surprisingly, the HPSP has nothing in writing stating that someone can't do this, be a Target Team Member, or flip burgers... Of course, there would probably be some heartburn if a HPSP student were on ADT orders and working - IF the HPSP office heard about it That said, if someone were to try and use a part-time job as an excuse for bad grades, the HPSP office probably would have little to no sympathy.

 

[Medic741]

Good to know guys, thanks! I'll call JAG and ask if the May 2 board gives me a green light, hadn't thought of that. Really want to serve/practice milmed, but sometimes opportunities arise that are just too good to pass up on.

And it would be held in an LLC shared between partners

 

[deleted480308]

Good to know guys, thanks! I'll call JAG and ask if the May 2 board gives me a green light, hadn't thought of that. Really want to serve/practice milmed, but sometimes opportunities arise that are just too good to pass up on.

And it would be held in an LLC shared between partners

I'd just note that once the military owns you. Finishing med school is the opportunity that's too good to pass up. If this messes with that, it's not a good call.

 

[narcusprince]

Why would you do hpsp if you had the opportunity to startup a business and go a civillian route for medical school? One potential hiccup is your security clearance. Having ties to a business you may have to submit paperwork showing business ties and potential foreign entanglements.

 

[Red Lobster Actual]

We should follow the footsteps of our Commander in Chief who has over 500 businesses in his name. Does not seem to interfere with his duties in the military.

 

[DennisRubalcava]

It's nice to be a part of startup company as one can learn and explore more in such companies. Even my brother has started the startup company, and taking much effort to grow his business. He has also taken help from this source (BBEXmarketing) to grow his business online. Starting from building the website for his business and after that many more things like SEO service and social media marketing.