VSJF Receives VLITE Funding for New Climate Economy Initiative
Posted on February 20, 2017
In June, 2016 the VSJF received a 3-year funding commitment from VLITE to enable it to establish a new initiative which aims to accelerate the creation and growth of entrepreneurs that commercialize business solutions to address the negative impacts of climate change. By targeting young entrepreneurs, new and existing businesses in the emerging climate economy sector, the VSJF will work with VCRD's Climate Economy Action Council to position Vermont as THE place to come and build and grow businesses that export solutions for a changing climate worldwide.
What do we mean by the “Climate
We define the Climate Economy to mean the work being done by businesses whose products and services aim to reduce, mitigate, or prepare for the negative impacts of climate change on human systems, such as: clean energy development and distribution; thermal and electrical efficiencies in buildings, workplaces, and homes; public and private transportation systems; efficient building construction; energy and efficiency innovations in the working lands economy; recycling, reuse, and renewal of resources; resilience technologies such as soil sensing devices; among others.
What do we mean by a "Business Accelerator"?
An Accelerator is a program that selects a cohort of typically early stage businesses to participate together in a time-limited series of trainings, mentorships, and investment opportunities. Once launched later in 2017, the accelerator program will expose promising businesses and technologies to the lessons learned by successful entrepreneurs and investors. It will help them clarify the market for their product, evaluate the needs of their management team, define their business model, and articulate their unique value, all with the intention of making them more attractive to the investment capital they need.
Additional funding for this initiative has been provided by the Canaday Family Charitable Trust.
Photo Credit: Northern Reliability (Waitsfield) is an example of a climate economy business already in existence in Vermont.