VCET FY20 Impacts
Evolving Support for Entrepreneurs
According to the organization’s 2020 impact report, VCET directly assisted 259 startups and entrepreneurs in the fiscal year 2020, bringing the total number served in Vermont to 2,392. VCET’s 59 lifetime “portfolio” companies have cumulatively generated $221 million in sales, $191 million in payroll, and attracted $250 million in capital.
Key to their continued ability to meet the needs of entrepreneurs, says Roach-Gerber, is continual assessment of their programing and services.
“These are dynamic times,” she said, “We had 100 new inbounds from startups in the first 100 days of the pandemic. VCET is about people, places, and capital, but we’ve had to evolve in response to the conditions under which businesses are starting and scaling today.”
Expanding the board, says Roach-Gerber, is just one example of how VCET is building new supports for entrepreneurs. On October 15, VCET along with 35 partner organizations launched the Vermont Startup Collective, a dedicated virtual space for building community, advancing business ideas, and connecting with other startups, remote workers, small business owners, freelancers, investors, and mentors. The Collective now has over 400 members.