VCET presentation to the VT Tech Council on October 11, 2012

2. VCET Today
• 2005
doors
opened
as
classic
incuba2on
program
• 2007
total
remake
of
programs,
value
proposi2on
and
infrastructure
began
• Financial
support
from
US
Senator
Patrick
Leahy,
Vermont
Technology
Council,
Agency
of
Commerce,
UVM
and
Middlebury
College
• 2.5
Employees,
1-­‐3
EIR’s,
3-­‐4
interns,
100+
mentors/advisers,
scores
of
strategic
partners,
network
effect
of
36+
Client
firms.
Outstanding
Board
of
Directors
• Opera2ng
budget
halved,
impact
up
20x

3. VCET Today
Mentor
Network
(i.e.
Talent
Cloud,
volunteers)
Incuba0on
Programs
(2
facili2es,
remote
services,
partners
and
hands-­‐on
counseling/assistance)
Seed
Capital
Fund
($5M
revolving
fund,
May
2010)
Por<olio
Impact

4. Entrepreneurs Served
Entrepreneurs)Served)2008)0)2012)
Cumula2ve"Entrepreneurs"Served" Entrepreneurs"Served"
600"
500"
400"
300"
200"
100"
0"
FY"2008" FY"2009" FY"2010" FY"2011" FY"2012"

5. Next Generation Jobs
Next%Genera*on%Jobs%2008%2%2012%
Cummula3ve"Next"Genera3on"Jobs" Next"Genera3on"Jobs"
800"
700"
600"
500"
400"
300"
200"
100"
0"
FY"2008" FY"2009" FY"2010" FY"2011" FY"2012"

6. Revenues
Revenues'2008'+'2012'
Cumula1ve"Revenues" Revenues"
40"
35"
30"
25"
20"
15"
10"
5"
0"
FY"2008" FY"2009" FY"2010" FY"2011" FY"2012"

7. Capital Investment
Capital'Investment'2008'1'2012'
Cumula1ve"Capital"Investment" Capital"Investment"
45"
40"
35"
30"
25"
20"
15"
10"
5"
0"
FY"2008" FY"2009" FY"2010" FY"2011" FY"2012"

8. How We Innovate
• Institutional paranoia around relevancy to Vermont
entrepreneurial ecosystem
• Measure key performance drivers to validate relevancy
and reach to entrepreneurs
• Engage with regional and national partners to learn
about not just best practices, but superior outcomes
• Solve their problems, not necessarily ours
• 1 principal new initiative a year

9. Innovation In Practice
Forward Leaning – Highly Relevant – Great Timing
• Entrepreneurs-In-Residence
• Seed Capital Fund
• Partnerships
• Tech @ Networking Series
• Co-working space
• UVM Start
• What’s Next ?

10. Connecting Student Entrepreneurs
with Alumni Donors

12. Get Involved!
• 8 Student Teams
• Each raising ~$3,000
• 45 Day Campaigns
• Launching October 18th
• www.uvmstart.org

13. Challenges Ahead
• Maintaining high degree of relevance and
service levels to Entrepreneurial Ecosystem
• Scaling the VCET team and services model to
meet record market demands
• Deepening relationships with Colleges and
Universities for faculty and student start-ups
• Securing modest annual funding to replace
expired Senator Leahy provided SBA grants
• Supporting entrepreneurs and their inherent
ever dynamic situations