ViTAL Economy Alliance Completes Accelerator Feasibility Study
ViTAL Economy released the results of a feasibility study focused on development of an effective and sustainable business accelerator that creates a more robust regional innovation environment. Brattleboro Development Credit Corporation (BDCC) hired ViTAL Economy to conduct this feasibility study for development of a Southern Vermont Business Accelerator (Accelerator) based on VE’s history of development and management of accelerator, incubator and co-working spaces throughout the U.S. for more than 25 years. The study found that the region needs a more productive innovation ignition environment before it is feasible to support a Southern Vermont Business Accelerator. VE recommended the creation of a Green Mountain Innovation Network that would connect existing independent entrepreneurship and business development resources into a unified virtual innovation support network across four counties.This would include the launch of a robust innovation ignition network that would engage 2000 individual engagements to achieve 200 active qualified prospects, 36 active business development clients and 3 scalable business starts per year.
One of the first initiatives launched by Brattleboro Development Credit Corporation in response to ViTAL Economy Alliance recommendations is INSTIG8. Its first kick-off event was an Idea Jam at the Vermont Jazz Center on May 5, 2016. The Idea Jam was led by Dr. Birton Cowden, Associate Director of the award winning Berthiaume Center for Entrepreneurship at the University of Massachusetts Amherst. INSTIG8 is a system that fosters innovation through creativity and ideation. It is designed to foster a safe environment for creative entrepreneurs to try, fail, learn, build, explore and connect to other like-minded individuals while developing their business concepts and models.