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A potentially viable technology-based product, idea or service (preferably susceptible to proprietary protection) |
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Potential for job creation, growth, and overall contribution to State and regional economic development |
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Likelihood of success due to quality of business plan and qualifications of applicant management team |
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Compatibility of the proposed business with the VCET program and facility |
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The involved technology does not knowingly infringe on other existing or pending patents |
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A willingness to work well with VCET to identify its business development needs, establish appropriate milestones, and accept mentoring |
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A desire to grow a scaleable business and successfully graduate from the VCET program |
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An ability and the desire to contribute to the VCET community |
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Access to start-up seed capital |
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Applicants must demonstrate a need for VCET services and the ability to pay, or obtain funding for payment of cost-based VCET services necessary to their proposed venture. Preference will be given to applicants who have or possess a reasonable likelihood of obtaining sponsorship through public or private sources for venture research and/or development.
An applicant must be a for-profit business in the start-up phase of development, and show a likelihood of developing a successful and competitive business venture. Applicants will be asked to explain the competitive advantage of their technology based product, idea, or service, and must demonstrate the commitment of a start-up team possessing qualifications reasonably related to the business concepts involved.
Applicants’ ventures must be suitable for VCET’s facilities based on space availability and resources and compatibility with other VCET client. Other considerations such as modification of the facilities and the addition of necessary equipment are subject to approval.
Prior to starting operations at the Center applicants must have, or must be able to obtain all necessary licensure or certification for its proposed business activities.
Applicants must incorporate their business in the U.S. and propose to conduct a significant portion of current or projected business activities within the State of Vermont, adding to the technological capabilities and economy of the State and the region.
The applicant must meet the definition of a technology-based company, broadly defined as applied science. Natural sciences in this context may include agricultural sciences, biology, chemistry, earth sciences, engineering and mathematics, and medical sciences.
When other criteria are satisfied and applications are being considered on a competitive basis, favorable consideration shall be given to applicants who have significant potential to develop, academic, research, student internship or technology licensing relationships with the University of Vermont. |
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The Center will select Client Members on the basis of the stated criteria.
VCET will establish customized milestones with its Client Members and do quarterly assessments of their progress.
Graduation benchmarks may include: |
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Occupancy of space for up to 3 years |
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Staff exceeding 10 employees |
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Annual sales in excess of $1,000,000 |
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Acquisition by another company; e.g. making of a successful public offering |
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Exceeding VCET’s capabilities to add value |
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Apply Online |
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