LaunchVT seeks to develop the next generation of Vermont businesses

It was a busy year. We had a fantastic Accelerator cohort, we expanded our work with collegiate entrepreneurs, we launched a new program to support business development programs throughout Vermont, and our state-wide entrepreneur Peer Network will go live later this year. Our community supported model continues to grow with the addition of new organizations and businesses who support our focus on providing entrepreneurial Vermonters with the resources and programs they need to grow their businesses. Through a multi-year Cornerstone Partnership with the Vermont Community Foundation, and a ThinkVT Innovation Grant, LaunchVT will play a larger role in accelerating business growth, job creation, and economic vitality in communities throughout Vermont.

With this year’s cohort, LaunchVT has now accelerated 51 Vermont businesses, 76% of whom are either still in business or have been acquired. Cumulatively, they employed 200 people and generated over $9M in revenue in 2018. To date, we have invested over $700K in cash and services in our startups and our program works with over 100 community partners and advisors, which is why our businesses have had such great success. Together our alumni have raised over $29M in investment capital and they continue to gain momentum as they leverage the networks they’ve created, and expert services from existing local businesses. As we look toward the future and a more equitable economy, we will remain focused on breaking down barriers for all of our founders. This year’s cohort featured 6 female founded startups and all 3 cash investments went to female founders.

LaunchVT is rolling out two new programs in 2019.

The REACT program is modeled after a successful pilot collaboration with Generator called JUMP/START, and is designed to increase the number of quality startups in Vermont. Through a partnership with Co.Starters, LaunchVT is providing world class business development curriculum, and has trained over 20 regional facilitators, in order to launch business development programs throughout the state. The LaunchVT Peer Network will provide mid and growth stage startup founders with access to a professional collaboration tool, and is designed to accelerate their growth. The Peer Network will bring LaunchVT Alumni and qualified entrepreneurs together through in person events, a digital forum, and shared access to the LaunchVT network of advisors.