VCET Ranked 11th Best Academic Business Incubator in the World
The Vermont Center for Emerging Technologies (VCET), a member of the Addison County Economic Development Corporation (ACEDC), was ranked as the eleventh Best University & College-Orientated Business Incubator in the world. It was also ranked fifth best in the U.S in 2013 by the Stockholm-based University Business Incubator Index. While VCET is based in Burlington, they also maintain a location in Middlebury.
VCET is an economic development organization helping to launch and scale start-up companies. They also offer co-working space. The three components of innovation are:
- people: their expansive network
- places: their 3 physical locations in VT (partnering with UVM and fellow ACEDC member Middlebury College)
- capital: a $5.1 million seed fund used to leverage additional investment
Since 2008, VCET’s 50 portfolio companies, to whom they provided seed capital, have raised over $172 million total in capital. Those companies so far have sales of $133 million and a payroll of $112 million. VCET has worked with 1,630 starts-ups around the state. One third of VCET’s 188 members are student entrepreneurs and interns.
Recently the organization has created more original content with their new Start Here podcast and the Female Founders Series, a networking event for female entrepreneurs. VCET was also recently featured on a Local 44-WFFF/MyChamplainValley.com broadcast about two of their member companies who have joined forces to save lives around the world. Click here to view the episode.