Vermont Business Magazine LaunchVT, a division of the Lake Champlain Chamber, together with its partner, Rho Impact, a leading environmental, social, and governance (ESG) software and advisory firm headquartered in Charlottesville, VA, and Burlington, VT, provided foundational training in ESG strategy and materiality assessment to its current cohort of eight high-growth startups. The partnership was made possible by a grant provided by BTV Ignite, a local nonprofit organization that helps to launch entrepreneurs, grow businesses, and spur economic growth.
In collaboration with LaunchVT leadership, Rho Impact designed a two-part, cutting-edge learning module delivered to startups in LaunchVT’s flagship accelerator program. Through tailored and co-branded content, LaunchVT’s members of the 2023 cohort benefitted from direct instruction from Noah Miller, co-Founder of Rho Impact and Chief Advisory Officer, and Gal Shargil-Yaari, Senior ESG Advisor.
“Inspiring our startups to incorporate robust ESG methodologies helps these companies to be more resilient, more competitive, and ultimately, better investment opportunities for our finance community,” said Lauren Bass, Director of LaunchVT. “The content delivered by Rho has introduced strategies and frameworks leveraged by globally recognized market leaders. It’s taken our curriculum to the next level, and we’re grateful to BTV Ignite for making it possible.”
“Evolving regulatory requirements and stakeholder expectations are making environmental, social, and governance issues critical considerations for companies as they look to gain and maintain investors and customers,” said Miller. “We are thrilled to partner with Vermont’s flagship accelerator, LaunchVT, as we help Vermont’s next class of entrepreneurs scale their business, grow their impact, and ultimately win in ‘the age of ESG.’”
The combined Rho Impact and LaunchVT partnership commenced on April 26th with an in-person learning session led by Miller at the Lake Champlain Chamber. The content covered:
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Insight into the key concepts of ESG and how ESG can create strategic, financial, and operational value for a start-up.
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Provided a light impact reporting exercise, helping participants articulate both the narrative and the numbers regarding their impact thesis, performance, and long-term mission.
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Offered 1:1 office hours with start-up founders the week following the learning session.
The module concluded on May 3rd with a final learning session held virtually by Shargil-Yaari that delivered:
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Insight into the fundamentals of impact measurement, helping participants both articulate and contextualize the impacts they must manage operationally and the broader societal impact of their product or service.
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A materiality assessment exercise, providing participants with an explicit understanding of what ESG issues are material to their business and the associated risks and opportunities they present.
"I didn't think ESG was going to be relevant for my service-based business," said Sarah Lyman, founder of PurplCouch, an online resource for divorce. "I was wrong! Literally, every founder should think about their company's impact on the world - how to measure and improve it. LaunchVT keeps connecting our cohort with eye-opener experts, like those at Rho Impact."
The startups participating in the 2023 LaunchVT Accelerator Cohort are:
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Founders: Brendan O’Brien, Terry Therrien, Ryan Lau, Michael Curtis
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Starksboro, VT and Chester, VT
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Founder: Ashley Farland
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Starksboro, VT
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Founders: Jason Van Nest, Jim Verzino
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Brattleboro, VT
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Founders: Max Luthy, Luke Montgomery-Smith
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Richmond, VT
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Founder: Sarah Lyman
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Vergennes, VT
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Founder: Joshua Costa
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Burlington, VT
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Founders: Dr. Turner Osler, MD, Lex Osler
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Burlington, VT
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Founders: Jeffrey DeJarnette, Luke Kosby, Bill Kuker
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Rutland, VT
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LaunchVT is made possible thanks to their amazing partners, including Ari Souliotis, Arion Thiboumery, bytes.co, BTV Ignite, Casey Johnson, Codingscape, David Schmidt, Dinse P.C., Downs Rachlin Martin PLLC, Doug Merrill, Dudley Fund, Forecast LLC, FreshTracks Capital, Jason Dolatshahi, JHCapital, Gallagher, Flynn & Company, LLP, Hula, Jeff Chu, Jim Frazier, Jim Feinson, Lee Bouyea, Leonardo’s Pizza, Matanya Horowitz, Merrill Family Foundation, Merritt & Merritt, Myla Lai-Goldman, National Bank of Middlebury, Neil Bainton, Rho Impact, Ruth and Peter Metz Family Foundation, M&T Bank, Northeast Delta Dental, NFP, Scout Media, Tom Messner, University of Vermont, Vermont Department of Economic Development, Vermont Federal Credit Union, VSECU, and Vermont Economic Development Authority.
LaunchVT is a division of the Lake Champlain Chamber, Vermont’s largest business advocacy organization. The Lake Champlain Chamber powers prosperity in the Lake Champlain region through five distinct points: seeking economic opportunity for all; celebrating business ownership and entrepreneurship; promoting a robust, diversified visitor economy; cultivating community leadership; and nurturing emerging talent.
Source: BURLINGTON, VT - (May 9th, 2023): LaunchVT, www.launchvt.com. To learn more about the Lake Champlain Chamber, visit www.lccvermont.org.
