All ViTAL Economy (VE) Journeys start with a local champion who is willing to become an initial sponsor to start their region on the path to a brighter, sustainable economic future. Each VE Journey is ultimately sponsored and resourced by a broad base of collaborative funders that represent a cross section of the private, public and non-profit sectors in a region.
Levels of sponsorship vary depending on the specific interests of each potential sponsor:
- Telecommunication firms often sponsor VE to help them build multi-year CED programs which partner with the communities they serve. These initiatives focus on growing the regional economy and improving community understanding of broadband technology’s important role in this growth.
- Chambers of commerce, industry associations and economic development organizations will initially engage VE to provide keynote presentations to build broader support and commitment for a long-term VE Journey. The Journey itself is then often collaboratively funded by public, non-profit and private sector interests.
- Governments, universities, foundations, private businesses and regional economic development districts have provided seed funding to launch the first phase of a VE Journey on a challenge grant basis. This is intended to jump start a larger and broader collaborative investment in a VE Journey.
Sponsors of VE Journeys have been very diverse. Approximately 40 percent of our initial sponsors have been telecommunication or telecommunication equipment manufacturing firms, while other sponsors have included universities, community colleges, chambers of commerce, regional economic development districts and philanthropic foundations.
If you wish to learn more about sponsoring a VE Journey in your community, please contact us. We’ll describe how other sponsors have successfully invested in their company’s and community’s future and discuss the requirements for sponsoring a VE Journey.