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Vermont’s Tech Ecosystem Continues to Grow
The Northeastern Vermont Development Association, was selected to receive the U.S. Economic Development Administration’s (EDA) Build to Scale Venture Challenge grant to jump start tech-focused entrepreneurship and innovation in Vermont’s Northeast Kingdom. The grant represents a $1.5 million investment split between federal funding and local matching funds.
NVDA worked with Do North Coworking, an entity of Vermont State University, and the Center on Rural Innovation (CORI), a VTTA member, to apply for this grant as part of CORI’s 2023 Rural Innovation Initiative, a technical assistance program empowering rural communities to develop inclusive tech economies that support scalable entrepreneurship and tech job creation.
NVDA and Do North Coworking plan to launch the InnovateNEK initiative. This effort is designed to create a regional community and culture around tech innovation, build off existing programming to implement a scalable startup support program, and develop a network of mentors and investors to increase access to social and financial capital needed to sustain and scale tech startups in the Northeast.
This announcement comes on the heels of Vermont being designated a Tech Hub by the EDA,focused on building on the strengths of a semiconductor technology called Gallium Nitride at the GlobalFoundries facility and elsewhere in the state. The Vermont GaN Tech Hub, representing a range of participants and supporters, including the VTTA, is now eligible to apply to receive up to $70 million for projects that lead to the development and commercialization of GaN Devices and spur workforce expansion.
These are two exciting and potentially game changing opportunities to create new tech businesses, opportunities, and jobs in all parts of Vermont.
Examples of other tech opportunities throughout the state also come from VTTA members Startup Rutland and its new gener8tor tech startup accelerator, and the Black River Innovation Campus (BRIC) in Springfield and its Actuator program designed to help launch tech or tech-enabled businesses.
These and other initiatives underscore the VTTA’s belief that tech is Vermont’s greatest economic development growth opportunity statewide.
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As we come to the end of the year, I want to thank our many members, sponsors, supporters, and others who enable the Vermont Technology Alliance do the work it does on behalf of Vermont’s tech and tech-enabled business and organizations.
Please accept my best wishes for the Holiday Season and a Happy New Year.
Jeff Couture
Executive Director
Vermont Technology Alliance
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Vermont Economic Conference
(January 24,2024 – UVM Dudley H Davis Center)
The Vermont Chamber of Commerce presents its annual Vermont Economic Conference January 30, 2024. The event is designed to offer insightful presentations, engaging discussions, and networking opportunities. This year’s content will be curated to provide an in-depth look at national, global, and state economic outlooks, as well as the latest economic indicators shaping Vermont’s business landscape.
Find more here.
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Find Investors, Research Competitors, Get Strategic Advice with the Fuel Platform
The Vermont Technology Alliance has partnered with York IE, a strategic growth and investment firm, to offer their online Fuel service for a discounted price. Fuel is a platform trusted by thousands of entrepreneurs and operators.
York IE has helped more than a hundred startups accelerate their growth through its hands-on expertise and guidance. Fuel takes the same operational expertise that York IE provides to its startup clients and portfolio companies and makes it available on-demand in a strategic growth platform. Fuel users can access expert startup advice, in-depth market data, tailored playbooks, and cutting-edge AI tools.
This includes finding investors; researching competitors and the market; creating strategic plans, messaging, and online content; and meeting face-to-face with a business coach.
Through the partnership, the VTTA offering r its network discounted access to this one-stop-shop platform. You can now access Fuel for 25% off — that’s just $37.50/month.
Find more information and sign up here
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An Experiment in Jumpstarting Vermont Tech Startups
(December 11, 2023 – Forbes)
A paltry percent of U.S. tech employment is in rural areas—5%, while 12% of the workforce lives in such locations, according to the Center on Rural Innovation (CORI). That’s why, in 2017, Matt Dunne founded the nonprofit, which focuses on job creation and economic development in rural areas by building tech economies in those regions.
It recently got preliminary financing approval from a U.S. Treasury program for the Green Mountain Accelerator Fund, a $3 million pre-seed investment fund aimed at financing and nurturing early-stage tech startups in five rural Vermont communities. And it received a $520,758 Capital Challenge grant via the U.S. Economic Development Administration.
That money, half of which must come from matching contributions, will help create the Green Mountain Launchpad, a regional tech startup catalyst hub. “We’re addressing a funding gap for tech startups that especially exists in rural regions lacking a strong angel network,” says Dunne.
Read more here.
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Tech Start-Ups Sought by Startup Rutland (December 11, 2023 – Rutland Herald)
Start-Up Rutland, a VTTA member, is looking for a few good ideas.
As more money becomes available in Vermont to launch technology companies, the business accelerator program run by Chamber and Economic Development of the Rutland Region out of The Hub co-works is wading through ideas it can help shepherd to market.
“Right now, our job is to attract them to apply for the accelerator program,” said Mose Cassaro, The Hub’s director of venture capital.
At the same time, the Center on Rural Innovation has been preliminarily awarded $260,000 in federal money to invest up to $50,000 at a time in companies coming out of accelerator programs. The program requires a one-to-one local match.
“We will have a fund,” said CORI Executive Director Matt Dunne. “We will be taking pitches from early-stage tech companies that are based in Vermont, but not in Chittenden County. … There is a fair bit of venture capital now available in Vermont …. but there isn’t as strong an angel network outside of Chittenden County. … That’s a role that doesn’t exist as much in rural America and rural Vermont. We’re hoping to fill that gap.”
Read more here.
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Resonant Link and Air Force’s AFWERX Announce Partnership to Deliver Wireless Charging for Unmanned Systems
(December 12, 2023 – Resonant Link)
Resonant Link, a VTTA member, has been selected by the U.S. Air Force’s AFWERX for a SBIR Phase I contract focused on wireless charging for autonomous systems. This work will address some of the most pressing challenges in the Department of the Air Force (DAF). AFWERX brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF.
“Power needs are increasing in every area of our lives, but energy and recharging capabilities haven’t kept up,” said Grayson Zulauf, PhD, CEO and co-founder of Resonant Link. “With the continued support from AFWERX, we will further evolve our wireless charging to support expeditionary power needs, like keeping devices and vehicles powered without any involvement from the warfighter.”
Read more here.
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Comcast Now Available to 2,000 Additional Vermont Homes and Businesses
(December 10, 2023 – Comcast)
Comcast announced the completion of a project to expand its Xfinity 10G Network, and deliver its full suite of Xfinity and Comcast Business services, to more than 2,000 additional homes and businesses in Vermont. The expansion connects residents and businesses in the towns of Elmore, Eden, Sudbury, Wardsboro and Wolcott as well as more addresses in areas already serviced by Comcast, including Hubbardton, Jamaica, Stratton, and Morristown.
The milestone is part of Comcast’s ongoing expansion in Vermont, where the company has invested more than $93 million in technology and infrastructure over the last three years
Read more here.
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Nonprofit Leaders Work to Close Digital Divide, with Help from Microsoft TechSpark Program
(December 7, 2023 – VermontBiz;Technology for Tomorrow)
Technology for Tomorrow (T4T) kicked off its Microsoft TechSpark partnership with a roundtable conversation on how to address the challenges of digital inequality and opportunities to address them, Dec. 1 at the South Burlington Public Library. Guests included TechSpark U.S. Program Manager Michelle Schuler, Sen. Kesha Ram Hinsdale, Vermont Community Broadband Board Executive Director Christine Hallquist, and Vermont nonprofit leaders from across the state.
Enrollment is now under way for the free digital literacy courses T4T has designed as part of its partnership with Microsoft TechSpark. Both the 10-week basic digital literacy and 10-week introduction to AI courses will be offered January-March at the South Burlington Public Library. The courses, one for beginners and one for advanced learners, are free. Participants in the two cohorts will come from local nonprofit organizations.
Read more here.
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GlobalFoundries Announces New Multi-Million Dollar Student Loan Repayment Program
(November 20, 2023 – GlobalFoundries)
GlobalFoundries announced that it is launching a new student loan repayment program to help current employees and new recruits pay down student loan debt. The new benefit program is part of the company’s multi-million-dollar investment to strengthen the semiconductor talent workforce by helping to ease the financial burden of higher education and training of present and future employees.
GlobalFoundries has a semiconductor production facility in Essex Junction, Vermont
Under GF’s new benefit program, set to begin in early 2024, U.S.-based employees and new hires that meet eligibility guidelines will be able to receive a tax-free, lifetime total of $28,500 toward their student debt, enabling employees to pay off their loans faster and at lower out of pocket expenses. The program is open to all U.S. employees that have qualified student loans for all degree types and credit-based certificate programs offered by U.S. universities and colleges.
Read more here.
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Beta Technologies Lands $169M Federal Loan to Build its Electric Planes
(November 17, 2023 – VTDigger)
Federal officials have granted a $169 million loan to Beta Technologies, the South Burlington electric aircraft manufacturer, aimed at bolstering the company’s capacity to build its planes for buyers throughout the Asia-Pacific region.
The “export promotion loan” from the U.S. Export-Import Bank will support 400 jobs at Beta’s newly christened production facility at the Patrick Leahy Burlington International Airport, according to Lexi Pace, a company spokesperson. The loan also will support some costs associated with the plant itself.
Beta received the loan based on its “high growth potential” stemming from current and possible new contracts in countries including New Zealand, India, Japan and Canada, according to the Export-Import Bank. The federal agency offers credit to U.S. companies to help them be more competitive in international markets.
Read more here.
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Fluency Ranked 76th Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500 List
(November 8, 2023 – Fluency)
Burlington, Vermont-based Fluency announced it ranked no. 76 on the Deloitte Technology Fast 500™, a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 29th year.
Fluency is an innovator in digital advertising management and automation solutions for enterprise-level agencies and brands. Fluency earned this recognition by achieving a 2,060% growth rate since 2019.
Read more here.
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Vermont Technology Alliance Membership Update
The Vermont Technology Alliance works on behalf of its members and can carry out its mission through the support of its membership.
New members include Smart Resource Labs, Black River Innovation Campus (BRIC), Concepts NREC, Nomad Power, Vermont Information Technology Leaders (VITL), and individuals Ganna Kadnikova, and KF Samandari,
Renewing members include Echo Consulting, Northern Digital Inc (NDI), Paul Frank + Collins, and Stephen Waite (Care Management Solutions)
Not a VTTA member yet? Then why not join now? Find more information and register here. You can also contact us at admin@vtta.org.
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Featured Member – Marvell | |
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Marvell offers a broad, innovative portfolio of data infrastructure semiconductor solutions spanning computing, networking, security, and storage. Our products are essential to the required transformations the carrier, enterprise, data center and automotive data infrastructure market segments must achieve to advance the emerging services and applications of the proliferating data economy.
To deliver the data infrastructure technology that connects the world, we’re building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world’s leading technology companies for over 25 years, we move, store, process and secure the world’s data with semiconductor solutions designed for our customers’ current needs and future ambitions.
Our success is dependent on the tenacity of our global team coming together to lead that change. At Marvell, everyone has an important role to play in changing the way tomorrow’s enterprise, cloud, automotive, and carrier architectures transform—for the better.
Visit https://www.marvell.com/
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Useful Information & Links | |
Online Professional Development Courses
The VTTA has partnered with MindEdge to offer easy-to-access, affordable, online professional development courses. Whether you are looking to expand your skill set, earn professional credits, or learn something new, these courses are an option to gain essential and in-demand skills on your own time, at your own pace, and from any location. As a bonus, VTTA members save 10% on all offerings.
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VTTA Career Center
Vermont Technology Alliance member companies are hiring, and when you visit the Career Center on the Vermont Technology Alliance website you can browse and search for these job openings and subscribe to updates. The Career Center on average features 200+ tech and non-tech jobs with Vermont Technology Alliance member businesses. Jobs available from VTTA members are listed at no charge in the Career Center as a member benefit.
Find the Career Center here.
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Find the Software Development Staff with Recruiting Services from VTTA and ScaleTech
The Vermont Technology Alliance has partnered with tech talent solution firm ScaleTech to offer talent solution services to help Vermont businesses find the software developers and engineers. they need to sustain and grow their businesses. ScaleTech focuses on developing a working partnership with businesses between 5 to 200 employees, and offers discounted rates for VTTA members.
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The VTTA Thanks Its Member/Sponsors
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