Scott launches Vermont’s first technology-based financial growth program
Elevate Vermont Program Makes $800,000 Accessible to Startups and Rising Tech Firms for Technical Help, Matching Grants and Innovation Analysis
Vermont Enterprise Journal Governor Phil Scott and the Company of Commerce and Neighborhood Growth immediately introduced the launch of the State’s first Know-how-Primarily based Financial Growth program designed to catalyze progress in Vermont’s excessive tech enterprise sector by way of elevated entry to focused technical and analysis help. Coined as Elevate Vermont, the objective of the multi-faceted program is to assist speed up early-stage know-how firms and assist established small companies stay related in a worldwide market.
“Supporting companies in each area of the state to retain and create jobs stays a high precedence of my administration,” stated Governor Scott. “This program will assist our revolutionary employers develop and succeed within the international market, whereas strengthening our communities right here at residence.”
H.439 (Act 74) appropriated $800,000 to this system within the 2021 legislative session. An in depth request for proposals (RFP) course of has resulted within the number of outdoors consultants who can help Vermont companies in efficiently making use of for federal Small Enterprise Innovation Analysis (SBIR) and Small Enterprise Know-how Switch (STTR) grants.
Yearly, the federal authorities grants out over $3 billion to small companies by way of the SBIR/STTR applications by way of a extremely aggressive software course of.
Elevate Vermont will assist firms looking for this non-dilutive (no lack of fairness) funding by way of one-on-one SBIR/STTR software help from skilled advisors at North Carolina-based Eva Garland Consulting, LLC.
The software for this Technical Help is now open and accepting submissions on a rolling foundation till funding is depleted.
“Vermont has by no means earlier than had such alternative to assist startups and early-stage tech firms,” stated Division of Financial Growth Commissioner Joan Goldstein. “These investments current an infinite alternative for the state’s rising tech sector.”
Within the coming months, two extra functions will develop into accessible underneath the Elevate Vermont moniker to supply much more assist for firms engaged with SBIR/STTR. Eligible individuals could qualify for matching grants to speed up the commercialization of their know-how, offsetting prices resembling gross sales and advertising and marketing bills that can not be supported with SBIR/STTR funds.
Elevate Vermont will even present an Innovation Analysis Partnership Program to assist small companies strengthen connections with analysis establishments that may help them in fixing difficult product growth points.
To obtain notification concerning the Elevate Vermont program as extra data turns into accessible, please subscribe to the Division of Financial Growth publication.
Governor. Montpelier 8.10.2022. www.vermont.gov
