LaunchVT was awarded $50,000 in prize money for equitable access to entrepreneurship
Vermont Business Magazine The U.S Small Business Administration (SBA) announced LaunchVT as a Stage One winner for the 2024 Growth Accelerator Fund Competition (GAFC). LaunchVT will receive a $50,000 cash prize for its impactful and inclusive approach to nurturing a collaborative national innovation ecosystem to advance small business research and development (R&D) from ideas to the market.
By fostering connections between entrepreneurs, mentors, partners, philanthropies, corporations, investors, and other shared resources, GAFC 2024 catalyzes strategic ecosystem partnerships to build community and organizational capacity for the successful launch, growth, and scale of STEM (Science, Technology, Engineering, and Mathematics)-based entrepreneurs.
LaunchVT’s award-winning model will create a specialized accelerator program in collaboration with Generator Makerspace for gallium nitride tech entrepreneurs developed with the new V-GaN Tech Hub, a consortium with the State of Vermont, the University of Vermont, and GlobalFoundries. By building a strategic network of tech and financial organizations and resources, LaunchVT will prepare startups for significant investment to help their businesses scale, creating outstanding value for all Vermonters.
“Recognition from the SBA is an amazing bellwether for Vermont’s innovation economy,” said LaunchVT’s Director, Lauren Bass. “As Vermont’s high-growth ecosystem matures, we need more startups to build a pipeline for our investment community. This is a win for innovators, investors, and Vermonters alike. GaN tech startups will generate outstanding jobs and stimulate tax revenues reinvested into our communities.”
Two Stages
SBA welcomed Stage One submissions from a broad range of organizations with a collaborative vision to nurture a national ecosystem for equitable access to entrepreneurship. Winners of Stage One were selected through a multi-tier review panel process with experts in entrepreneurship, business, innovation, and strategic planning both inside and out of the federal government.
Stage Two offers an additional $50,000 to $150,000 in cash prizes for Growth Accelerator Partnerships. To learn more about Stage Two opportunities and to access the Growth Accelerator Fund Competition Guidelines, please visit https://www.americasseedfund.us/accelerators.
From inequity and climate change, to supporting national defense and community-driven economic prosperity, the real opportunity is now to build up innovation ecosystems and LaunchVT is eager to deepen its collaborative impact in Sustainability and Biotechnology.
LaunchVT is made possible thanks to their amazing partners, including All Stage, Brady Hoffman, Byron Batres, Consolidated Communications, David Schmidt, Doug Merrill, Dudley Fund, Forecast LLC, Jason, Mintz, Jeff Chu, Jeff Meller, Features Capital, FreshTracks Capital JHCapital, Gallagher, Flynn & Company, LLP, Hula, Inner Citadel Consulting, Jeff Chu, Laury Saligman, Lee Bouyea, Leonardo’s Pizza, Merrill Family Foundation, Neil Bainton, Rho Impact, Ruth and Peter Metz Family Foundation, M&T Bank, Northeast Delta Dental, Sharon Rossi, Tom Messner, U.S. Small Business Administration (SBA), University of Vermont, Vermont Community Foundation, 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.
To learn more about LaunchVT, visit www.launchvt.com.
WASHINGTON– (April 25, 2024). To learn more about the Lake Champlain Chamber, visit www.lccvermont.org.
