http://www.rutlandherald.com/article/20120515/BUSINESS09/705159947
Firing up Vermont’s economy
By Gareth Henderson | May 15,2012
Rutland Herald
In Vermont’s close-knit economy, a good idea and the right resources can go a long way for a young business.
This year, local entrepreneurs have a brand new resource to tap: Startup Vermont. The program is affiliated with the national program, Startup America, which looks to equip entrepreneurs with the resources and expertise they need to grow their ideas into successful businesses. Startup America is chaired by Steve Case, co-founder of America Online.
Cairn Cross, managing director at the Middlebury firm Fresh Tracks Capital, was instrumental in bringing Startup Vermont to fruition. On June 7, IBM in Burlington is scheduled to host a Startup Vermont conference, where businesses can learn about Startup Vermont programs, receive information on business collaboration, and take advantage of networking opportunities and discussions. The event will center around three topics: technology, consumer products, and food systems.
The purpose of this kind of programming is to encourage young businesses to develop successful products and present the resources and know-how necessary to accomplish their goals. Vermont, said Cross, is rich with business expertise, and Startup Vermont wants to work closely with those experts to help entrepreneurs.
“There is already a cluster of people with great experience,” he said.
Along with advice on financing and other resources, Startup Vermont offers a number of benefits to its members. These include discounts on Google Adwords spending, discounted (and, in some cases, free) Microsoft products, and discounted admission to various events. To be eligible for a Startup Vermont membership, a business must be no more than 10 years old.
In several regions of Vermont, business advisors with other organizations say Startup Vermont would compliment other existing programs well.
Brian DeClue, a business advisor with the Vermont Small Business Development Center (SBDC), works primarily in Bennington and Rutland Counties. He said the arrival of Startup Vermont will make it that much easier for young business owners to set up shop in the state. Furthermore, DeClue said this was a good opportunity for similar business-focused organizations in Vermont to pool their resources.
“I think it’s a win-win situation,” he said.
DeClue works closely with the Bennington County Industrial Corporation (BCIC), and BCIC Executive Director Peter Odierna said he sees Startup Vermont as a great benefit for the state as whole.
“I think that encouraging entrepreneurial activity is something the state needs to do more on, and this is a step in the right direction,” Odierna said.
Brennan Duffy, executive director of the Rutland Redevelopment Authority (RRA), said RRA’s efforts would fit in well with the mission of Startup Vermont. Furthermore, he said the Startup Vermont program could be helpful for certain local projects, such as the business incubator space on Merchants Row.
“Entrepreneurship is certainly something we want to encourage and facilitate,” Duffy said.
Helping local people who want to go into business in Vermont sustains and grows the fabric of local communities, since they are willing to invest in the region and grow their roots here, said Duffy.
“There are tangible reasons they want to be in the area,” Duffy noted.
Like other experts in the business community, Duffy said that the Startup Vermont effort should dovetail nicely with other programs meant to help grow local businesses. These include the Vermont Investors Forum, which works to connect entrepreneurs with equity investment, he said.
In the current economic climate, organizations that can help young businesspeople obtain the capital they need are essential for business growth in Vermont, experts agreed. Finding venture capital in Vermont has been a challenge for start-ups, according to Bob Flint, executive director of the Springfield Regional Development Corporation.
“I think that’s been a barrier to entrepreneurship,” Flint said, adding that start-ups often need help navigating complex government regulations and making sure their plans are sound.
Flint also said that Startup Vermont could help “stimulate the culture of entrepreneurship in Vermont.”
“You can’t have enough of that in the economy,” Flint said.
He said Startup Vermont would be an ideal partner for a number of groups, such as the SBDC, the Vermont Economic Development Authority, the Vermont Sustainable Jobs Fund and the Vermont Center for Emerging Technologies.
Vermont Commerce and Community Development Secretary Lawrence Miller, who started Otter Creek Brewing in Middlebury, has been a strong supporter of Startup Vermont. He publicly announced the program when it began in early 2012.
Miller said Startup Vermont can help spur the job creation and income growth that the state needs. “We’re trying to help improve Vermonters’ quality of life,” he said.
Miller also pointed out that Startup Vermont initiatives and events will bring in experts from many different industries to aid start-up businesses. “It’s not a top-down type of government activity,” Miller said.
Such assistance and networking is critical for people who are just starting to build a young company, said Miller, noting there are myriad challenges and choices that face all entrepreneurs. Visit www.startupvt.org for more information.
Gee, what a surprise that it's difficult to find venture capital in an overtaxed and overregulated state with an anti-business track record and a minimum wage service economy. Cry me a river Bob, then get to work fighting to pare back the suffocating insanity of state and federal government that has killed economic opportunities for Vermont and her citizens.
ReplyDeleteUh, so we can become say like Mississippi?
DeleteFlint can be used to start a fire but in this Flint's case the spark is gone but his salary keeps coming in. Bob do something or get out of the way. Springfield Regional Development needs to start developing something but just gives us excuses for why you and it can't.
ReplyDeleteBob is fighting the good fight to lure good jobs to Springfield, but the major obstacle is too great. Vermont, and Springfield more so, does not have a viable labor pool for the type of jobs that fuel an economy.
ReplyDeleteNext time you're at a local convenience store, take inventory of the people around you. See anyone that could be trained to do 5-axis programming, design optics, perform bio medical research, turbine blade inspection, write code, diagnose digital electronics? Fat chance huh?
Due to the proliferation of low income housing and the ills that follow it, no one of means would ever relocate here. Add the fact that due to a state income tax, local employers are at a further disadvantage to lure from the labor pool across the river. And now due to cornball legislation mandating alternative energy, employers can count of unnecessarily inflated rates.
Consider that the Howard Dean Tech Ctr remains a dumping ground for misfits. Existing only as a stop gap for dropouts and a job program for teachers. Want proof? Ask how many employers are invited to interview this year's graduates. Point being, we can't even train talented young people enter the work force as the Co-Op program did for so many generations.
Springfield may be open for business, but those that with a choice are shopping elsewhere.
You're negativity and inability to get out and public astonishes me. I am a younger person who has a college degree and is a professional. I came to Springfield, landed a great job and am loving every second. This is Vermont, it is better than 99% of anywhere else in the world. Get out in the community and look at all the young people coming back to the town, much more than you think, I am sure of it and am part of it. Youth want to make a difference and negative people like you are no help. Get out and see the progress the 20 and 30 year olds are making. People in this town see rough times and only focus on that. They don't see all the good that is happening because they are so busy complaining. Suck it up and help out. US younger people are trying to do good for this town and we need your help. We have the potential here, we have the core younger generation moving back to town. Great job and standing ovation to the YOUTH of Springfield believing and shame on all those negative people especially on here who are to blind to see.
DeleteIt's very clear that Anonymous 5/15/12 5:52 PM really doesn't know what he or she is talking about. Once again the facts are all wrong. THERE IS NO HOWARD DEAN TECH CENTER!!!! Get the name right if you are going to bash the place, it's the River Valley Technical Center! A large number of students go on to college, not the work force as you seem to think. Have you even been in the building and seen the programs offered? I bet not!
DeleteI know it's an embarrassment to the community, but The Howard (the screamer) Dean Center indeed exists.
Deletehttp://www.deancenter.org/static/about.htm
Have to disagree with the lead post here. Springfield schools have been doing a good job of training students. Unfortunately, we have been exporting them elsewhere -- in fact our graduates are our most valuable export. We do in fact have kids doing all of the work indicated, Springfield alum go off to do those things elsewhere. To Anonymous 11:32 you are right, there is no Howard Dean Tech Center. There is the River Valley Technical Center more commonly referred to as RVTC. There used to be entity known as the Howard Dean Education Center, sometimes referred to as HDEC. Its vision was a seamless web of technical education where students started in the 10th grade and finished in the 14th grade or beyond. That vision of course has died at least as far as HDEC is concerned, now the Dean Center basically just refers to a building. However, RVTC is struggling to keep at least some of the vision alive, and it is not just a place for misfits -- it produces some very talented students and has some programs which are considered superior to what is normally encountered at the collegiate level.
DeleteAlpin, I would have to suggest some qualifications to what you have written. It does not appear to me that Springfield has been well served by the other occupants of the Dean Center building namely CCV and UVM. Their programs are spotty and tend towards the pathetic. I do agree the RVTC has been struggling to fill the gap.
DeleteWe don't want any of those real colleges in Springfield! Might make people uppity and demand services.
Deletewhy dont they just open another pizza shop, that should help....
ReplyDeletemmmmm pizzzzzzaaaaaaaa
DeleteIn response to Anonymous 5:52; I can think of several people "of means" who have either relocated or "come back" to Springfield and who are doing quite well - actually in all reality (considering state averages) far better than he/she is.
ReplyDeleteAlpin Jack-- I spent six months in Mississippi years ago; it was like a Third World country, but with dead appliances in the yard. The quality of life generally is the worst in America, and I believe God created Mississippi to make Texas look good. That should be their state motto.
ReplyDeleteI notice that the people who complain about Vermont being a high-tax, business unfriendly state live here. What's the problem?
I have mentioned elsewhere that the income profile for the town has 85% of the households averaging $25,000 a year. If the shops were in business here today, there would be about 3,000 people making $130,000 and living here. There are only about four households in town making that; the rest live elsewhere, and I don't have the data.
Once Bob has finished with the medical complex, maybe he'll be able to turn his talents into attracting those people to live here as well as work here.
And it's not that the work force is stupid, lazy or untrained. It's that the money isn't spent here, so people don't start businesses here. The federal government could seed a health tourism industry here (we have about 159 beds for tourism) similar to what the Mayo clinic does for allopaths. You would see 159 people bringing $2,000-plus into town every week.
And the "young" adults who are focusing on the bike path and concert projects certainly do credit to the town's potential for optimism!
the state of vermont dont want any industry here...they only want bike paths cross country anskiing and tourist traps
DeleteA unique cloud-based system to track and manage your insurance policies, coverages, premiums, claims as well as your covered participant’s assets, premium contributions and activities.
ReplyDeleteVermont Captive Insurance Conference 2016