Rutland receives $1.5M grant for tech startups

The Chamber & Economic Development of the Rutland Region (CEDRR) recently secured a $1.5 million grant to launch Rutland’s Tech Startup Incubator, which will offer technology support and develop a mentor and investor network providing tech entrepreneurs capital needed to grow their businesses.

“The CEDRR board of directors and staff are very pleased that Rutland’s Tech Startup Incubator will become a reality for Rutland City, the county and the state,” said Lyle Jepson, executive director of CEDRR. “This has become a reality because of the great partnerships that have been forged and because of the unwavering support of all involved.”

The Venture Challenge grant was announced Oct. 5 via the U.S. Economic Development Administration (EDA) Build to Scale (B2S) program. CEDRR worked with the Center on Rural Innovation (CORI) to apply for this grant as part of CORI’s 2022 Rural Innovation Initiative, a technical assistance program in Hartland empowering rural communities to create inclusive digital economies that support scalable entrepreneurship and tech job creation.

The Initiative was launched in 2018 by CORI and its mission-aligned collaborating organization, Rural Innovations Strategies, Inc. To date, this program has graduated 29 communities and helped rural organizations secure more than $29.9 million to develop strategies and build out programs that can accelerate their local digital economic development efforts.

“The work that goes into the Rural Innovation Initiative process requires intense focus, unwavering optimism, and a clear vision for the future — which is why it’s been so exciting to watch these communities receive Build to Scale funding,” said Matt Dunne, a Hartland resident and founder and executive director of CORI. “This is the fourth year we’ve run this program, and each year we grow more inspired by the commitment these rural leaders have to transform their local economies with new tech pathways.”

The 2022 Build to Scale program awarded 51 grants to applicants from 31 states. The grants represent a combined $47 million in federal investment. Rutland was one of just eight rural applicants to receive the award this year.

“This is encouraging news for Rutland County and I’m grateful for CEDRR’s hard work in securing this grant,” said Gov. Phil Scott. “Growing the economy in all regions of our state is a top priority for me and my team, and investments like this make a big difference.”