VCET Tech Council 10.11.12

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

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

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  • 1. 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  
  • 2. VCET TodayMentor  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  
  • 3. 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"
  • 4. 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"
  • 5. Revenues Revenues2008+2012 Cumula1ve"Revenues" Revenues"40"35"30"25"20"15"10" 5"0"FY"2008" FY"2009" FY"2010" FY"2011" FY"2012"
  • 6. Capital Investment CapitalInvestment200812012 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"
  • 7. How We Innovate• Institutional paranoia around relevancy to Vermontentrepreneurial ecosystem• Measure key performance drivers to validate relevancyand reach to entrepreneurs• Engage with regional and national partners to learnabout not just best practices, but superior outcomes• Solve their problems, not necessarily ours• 1 principal new initiative a year
  • 8. Innovation In PracticeForward Leaning – Highly Relevant – Great Timing •  Entrepreneurs-In-Residence •  Seed Capital Fund •  Partnerships •  Tech @ Networking Series •  Co-working space •  UVM Start •  What’s Next ?
  • 9. Connecting Student Entrepreneurswith Alumni Donors
  • 10. Get Involved!•  8 Student Teams•  Each raising ~$3,000•  45 Day Campaigns•  Launching October 18th•  www.uvmstart.org
  • 11. 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