Burlington, Vt. – May 4, 2020 – BTV Ignite, a public/private partnership in Burlington, Vt., Burlington Mayor Miro Weinberger, and Burlington Telecom, announced an accelerated timeline for community investments, as well as new programs developed in partnership with the University of Vermont and a wide range of community partners focused on supporting businesses, our local workforce, and economic development. These community investment funds, which will total $3 million over 10 years, are a result of the competitive process directed by the Mayor and supported by the City Council that culminated in the sale of Burlington Telecom. The elements of the announcement include:
Accelerating the next round of $50,000 workforce development grants for Burlington-based STEM & workforce training, focusing on programming for Burlington youth;
Up to $500,000 in new investments for Burlington-based businesses in 2020, including about $200,000 of investments expected to be announced in the coming weeks, with funds drawn from the Burlington Telecom Innovation Fund;
A retail resiliency webinar, How to Move from Storefront to Shopify in Under an Hour, created in partnership with the University of Vermont’s Continuing and Distance Education office to help local merchants learn and leverage e-commerce solutions focused on building resilience;
A new BTV Ignite-led Burlington Small Business Digital Presence Program, that will connect small businesses with a range of technical support to develop an online presence. The program’s development follows a tech sector business impact and needs assessment conducted by BTV Ignite.
“The BTV Ignite and Burlington Telecom community investments announced today will directly benefit youth and innovative homegrown businesses in Burlington,” said Mayor Miro Weinberger. “The fact that these investments are being accelerated now, amidst enormous economic headwinds, should be reassuring to everyone who cares about the future, and the economic strength of this great city. I am thankful to BTV Ignite, its board, and our partners at Schurz Communications for working hard to make these opportunities available now, at this critical moment in the COVID-19 economic crisis. With everyone working together and pitching in however they can, we will make it through this generational challenge.”
“In response to the COVID-19 pandemic, BTV Ignite and our partners are laser focused on supporting our community’s local businesses and workforce,” said Adam Roof, BTV Ignite Project Manager. “We are face to face with an economic crisis that has put thousands of Vermonters out of work. Our recovery will be hard-fought, and the initiatives announced today are aimed to provide immediate relief and look forward to the needs of tomorrow. We will get through this together.”
STEM and Technical Skill Fund
Initially planned for October 2020, the application for the BTV Ignite’s STEM and Technical Skill Fund is now open. A streamlined application and review process has been implemented to meet the immediate and emerging needs of Burlington workers facing hardship as result of the COVID-19 pandemic.
The BTV Ignite STEM and Technical Skill Fund was made possible through commitments secured by the Mayor and City Council in the asset purchase agreement formalized during the recent sale of Burlington Telecom. Funds are granted to organizations teaching technical skills and supporting STEM education for Burlington youth and creating new economic opportunities for the Burlington workforce. Funded though Burlington Telecom, this local support fund will grant $50,000 annually through 2029 under the administration and management of BTV Ignite.
Michael Seaver, Division President at People’s United Bank. a longtime funder of BTV Ignite, said, “We are pleased to partner with BTV Ignite, the City of Burlington and the other BTV Ignite partners to accelerate investment in our community, our businesses and our youth. Vermont is where nearly 900 of our employees work and raise their families. Finding ways to provide workforce training and technical skills to Vermonters so that they can find work, is important to all of us. Finding alternative ways for our youth to learn has been a focus for us at People’s United Bank. Partners such as Generator, teach skills that engage our youth and develop skills for a successful career.”
In 2019, The BTV Ignite board selected Generator, a design and fabrication consortium for entrepreneurs, and Mercy Connections, an educational organization creating opportunities for women, to receive $20,000 and $30,000 respectively. The nonprofits were chosen for their demonstrated focus on helping start and grow new businesses, create new jobs and promote the skills needed to fill them in Burlington.
Learn more and apply: btvignite.com/stem-technical-fund
Burlington Telecom Innovation Fund
Inaugural investments from The Burlington Telecom Innovation Fund will be made in the coming weeks, and Schurz Communications, Inc (the owner of BT) has committed to invest up to $500,000 in 2020 in a spring and fall investment round. The Fund’s Investment Advisory Committee is in the final stages of evaluating and selecting investments in Burlington-based businesses with priority given to businesses founded or run by women, people of color, people with disabilities, and other historically disadvantaged groups.
“These investment dollars are much needed at a time where access to capital will make or break a business competing in local and global marketplaces in transition,” said Mike Loucy, General Manager of Burlington Telecom and BTV Ignite Board Member, “This Fund is designed to inject capital into the Burlington entrepreneurial ecosystem to help startups. The Fund aims to support local, diverse entrepreneurs, who in turn will increase community contribution of invested companies to Burlington’s economy, fulfill diversity goals, bring attention and interest generated by the investments to the local economy, and an increase in the ability to keep businesses local as they grow and raise additional capital.”
The Fund has an available capital pool of $2.5MM over 10 years, to be used for investments in flexible structures allocated across a mix of startups and more established growth companies. You can learn more about the Fund here: btvignite.com/bt-innovation-fund
Retail Resiliency Webinar
How to Move from Storefront to Shopify in Under an Hour, presented in partnership with UVM Continuing and Distance Education (CDE), aims to make important resources available to the business community as they adapt to events related to COVID-19.
Shopify is the fastest growing online store builder, with over 1.2 million active websites worldwide. This webinar will demonstrate how storefront businesses can quickly set up an online presence using the Shopify platform in a few easy steps. This session will include the basics of signup, adding products, customizing design, plus shipping and payment options.
Sarah Beal, owner of Common Deer in Downtown Burlington who will be highlighted as a case study during the webinar, believes promoting these resources are critical during these times. “Small, local retail has been impacted more than most industries by the COVID-19 pandemic. Every business who wants to remain competitive must have a strong digital presence and a network of support, because the hard truth is foot traffic will likely never be the same. Shopify and digital advertising are highly effective in driving virtual traffic and much needed sales.”
The webinar will be led by Andrew Stoller, founder and President of Stoller & Company Inc., a web design and development firm in Baltimore, Maryland. He has over 25 years of experience in e-Commerce web design and development, lead generation, and search engine optimization.
This free webinar will be May 7th from 12:30 - 1:30 PM. Register here: btvignite.com/retail-resiliency
Burlington Small Business Digital Presence Program
The Burlington Small Business Digital Presence Program, is being launched to create connections between businesses who would benefit from improved digital presence and local e-commerce / digital marketing professionals able to provide technical assistance. Financial support for these services are also available through partnership with the City’s Resource and Recovery Center (RRC).
“Initiatives like this provide Burlington’s small business community with much needed support so that they can quickly transform their businesses to accommodate the changing retail landscape,” said Kara Alnasrawi, Executive Director of the Church Street Marketplace.
These resources, along with a peer support network of local merchants to support one another, have been developed in partnership with the Church Street Marketplace, the Lake Champlain Regional Chamber of Commerce, the Burlington Business Association, Common Deer, The Vermont Center for Emerging Technologies (VCET), Study Hall, and Hula.
You can learn more about the program and get involved here: btvignite.com/digital-presence
Tech Sector Business Impact and Needs Assessment
In an effort to understand the evolving scope and nature of the individual and collective economic injury occurring and how to best and most rapidly deploy resources as they become available, BTV Ignite has released a Tech Sector Business Impact and Needs Assessment. While we still do not yet know the scope and duration of the community and economic obstacles that lie ahead, we do know that we need information about how this crisis is impacting Burlington’s Technology Sector. Over 20 companies have filled out the survey to date.
This survey has been released in partnership with The City of Burlington’s Resource and Recovery Center (RRC), Vermont Center for Emerging Technologies (VCET), The Lake Champlain Regional Chamber of Commerce, LaunchVT, Generator, Burlington Business Association (BBA), Hula, and others.
You can complete the survey here: Tech Sector Business Impact and Needs Assessment
About BTV Ignite
BTV Ignite is focused on bringing together the energy, resources, and values of the Burlington, Vermont community to create opportunities to start and grow new businesses, create new jobs and promote the skills needed to fill them. The nonprofit provides STEM experiences for students, helps launch ‘smart’ city initiatives, and ensures these opportunities are inclusive and accessible for everyone. BTV Ignite was founded in 2014 and is sponsored by the leading government, business, and academic stakeholders of Burlington, including The City of Burlington, People’s United Bank, The University of Vermont, UVM Medical Center, Hula, Burlington Telecom, The Lake Champlain Regional Chamber of Commerce, and Burlington Electric Department. It’s founding mission is to help take advantage of Burlington's city-wide fiber optic gigabit network infrastructure and unlock the potential of this world-class digital resource to drive sustainable economic and community development. Learn more at https://www.btvignite.com/.
About Burlington Telecom
Burlington Telecom is Burlington, Vermont's only 100 percent fiber-optic network, focused on providing transparent pricing and the best customer service. Burlington Telecom is a core institutional partner for BTV Ignite, supporting the creation of a sustainable tech eco-system aimed at generating new, well-paying jobs in Burlington and providing professional careers for young Vermonters.
Media Contact:
Adam Roof
BTV Ignite Project Manager
802.777.3255