Southeastern Vermont Economic Development Strategies

SeVEDS

Posted on by Posted in News

SEVEDS Board Agenda Meeting, April 28, 2016, 3:00 pm – 5:00 pm, BDCC

Attendees: Patrick Moreland, Adam Grinold, Avery Schwenk , Meg Streeter, Jill James, Susan McMahon, Peter Yost, Luke Stafford and Kristin Mehalick

 

The Usual Business

  • Welcome and Gathering

Peter Yost, Vice Chair of the SeVEDS Board welcomed board members

Minutes reviewed. Motion to be approved by Meg Streeter, seconded by Avery Schwenk and approved by all.

  • Review and Approve Financials – Jill James

Financials reviewed. $5,000 in the printing and advertising from contract with Mondo Media. This amount is incorrect. This is amount it so be divided among SeVEDS and BDCC. Motion to be approved by Avery Schwenk, seconded by Susan McMahon and approved by all.

 

Informational Updates

  • Update from BDCC Executive Director – Adam Grinold

Board resignations from Jill James and Berta Maginniss

Dutch Walsh has become the new Real Estate and Property Manager at BDCC. Due to start at BDCC in the middle of May

Since Jill’s resignation it is important to find board members who represent Rockingham and Bellows Falls

  • Tri-State CEDS Group – Kristin Mehalick
    • Review of CEDS SWOT Comparison for the Tri-State Region

As part of the EDA grant, each of the planning commissions in Windham, Cheshire and Franklin have been meeting to complete a SWOT (strengths, weaknesses, opportunities and threats) analysis of each of their CEDS. These finds and outcomes will be presented at an upcoming event on May 19th.

  • CEDS Stakeholder Event: Thursday, May 19th, 9:00 – 11:00 am at SIT
  • Overview of BDCC/SeVEDS New Marketing Materials – Adam Grinold, RT Brown and Alex Beck

BDCC has contracted with Mondo Media to complete new logo images, report templates, press release templates and online advertising ads. There is now a true integration of the BDCC/SeVEDS logos. This is an exciting branding opportunity! BDCC has also become an organizational member of BCTV and has planned to air segments on projects and programs.

 

Substantive Discussions

  • Review SeVEDS 2017 Work Plan – Kristin Mehalick

Brief/quick overview of the drafted 2017 SeVEDS Work Plan. The 2017 work plan and budget will be reviewed in more detail at the May board meeting

 

  • Accelerator Feasibility Study Presentation & Update on Green Economy Innovation Hub – Vital Economy

Frank Knott and Jim Haugewood of Vital Economy presented the board with the findings of the Accelerator Feasibility study.

Review of the study objectives: 1) assess, 2) conduct and 3) recommend

What we tested: Four County study of a true business accelerator

Resource Assessment Conclusions:

Business and entrepreneurship resources exist in a variety of forms, but are not well recognized, understood or easily identifiable for a point of entrance.

Business capital is not a problem, the resource issue is the network between funders and entrepreneurs and the need for better and more complete plans.

“People choose to live in Vermont”  – the high quality of life and social ethic is an indigenous resource that can be leveraged to grow and attract niche entrepreneurs.

The innovation ecosystem assets and resources do not collectively utilize best practices  in program operations and economic strategies.

The region is well above average in access to the most importance resource for a healthy innovation ecosystem; Human Capital.

The area is not seen as an innovation hub, it is overshadowed by Burlington and Boston.

The region does not have all the resources available to strengthen the innovation ecosystem and should not look to duplicate but rather connect to others.

There is no branded entrepreneurship initiative or communication strategy for the region.

Needs Assessment Conclusions:

To strengthen and secure the long term performance of an innovation ecosystem the region needs to fill gaps in the following resource areas.

Mentors with specialty skills and experience that can concentrate and commit to extended support of individual businesses and startups.

Specialized expertise that can be directly accessed or can be provided through educational programs;

More idea igniters both formal and informal sources. Once ignition has occurred the ecosystem must be able to identify them and support them through a open system model.

Be proactive to create more intersections between entrepreneurs, mentors and funders, social events, TED type talks, pitch programs, or entrepreneur celebrations

Multiple locations in the region that provide a “home” or ‘hub” for entrepreneurs to work and network; co-working spaces, makers labs, or technology centers

Improved Internet access through wireless, cell and landline broadband service.

Create chaos, free and open environment for inventors and entrepreneurs that spans town boundaries.

A consistent communication plan that highlights entrepreneurship and innovation

Accelerator Feasibility Conclusions:

It does not appear that a traditionally designed accelerator program is feasible at this point in time and will not be until a number of market fundamentals improve.

The region requires a more productive innovation ignition climate that can be supported by existing experienced finance and mentor programs to launch new ventures while gaining valuable local experience.

Starting now, local and regional economic development entities can develop relationships and alliances with Universities and research institutions which are directly related to the targeted industry sectors.

BDCC can lead the building of a networked innovation ecosystem by convening, connecting and leveraging existing programs, facilities and resources.

The region can begin to expand the establishment of meet up locations and programs that build relationships and generate ideas in multiple towns.

Virtual communication and access to resources must be created to remove distance as a barrier.

Themed meetup and startup events where innovations can be explored can be designed and launched for the four targeted industry sectors (One event per sector per year)

Recommendations:

Create the regional Green Mountain Innovation Network (GMIN) using a collaborative Input/output pipeline model (slide 19 & 20)

Maximize idea ignition to accelerate creation and deal flow (slide 21)

Implement a performance metrics framework relative to development time (slide 22)

Build tech transfer opportunities with the region’s research centers

Fund BDCC staff role to coordinate GMIN and launch Windham activities

Develop a private/public/philanthropic GMIN investment pool by year 3

Establish a Five-Year Implementation & Funding Plan to Sustain the GMIN

 

Other Business / Announcements

  • BDCC Semi-Annual Meeting, Wednesday, April 27th, 4:00 – 6:00 pm, SIT
  • Idea Jam – Instig8 VT, Thursday, May 5th, 6:00 pm, The Vermont Jazz Center
  • CEDS Stakeholder Event, Thursday, May 19th, 9:00 – 11:00 am, SIT

 

CEDS and FY ‘16 Board Priority Area Updates

  • General CEDS
    • CEDS Objective 1: Act Regionally
      • Town Meeting Day Total Funding: $76,474.00

 

  • CEDS Objective 2: Create an entrepreneurial environment and culture to enhance existing business and grow new business.
    • Board 2016 Priority:
      • Review of Accelerator Feasibility Study results in the substantive discussion

 

  • CEDS Objective 3: Improve wage parity with the surrounding laborshed
    • Board 2016 Priority: Green Building, Healthcare, Tech Driven Precision Manufacturing

 

  • CEDS Objective 4: Increase the size and quality of the workforce
    • Board 2016 Priority: Workforce Development and Internship Program
      • FYI -One new intern- Jillian @ Logic Branch
      • FYI -3 Interns in the process
      • FYI- Digital Advertising Campaign will start soon
      • FYI-Conducted School board presentations to Twin Valley, BUHS, BFUHS School Boards

 

  • CEDS Objective 5: Retain and attract younger talent through engagement linkages, lifestyle amenities, and meaningful career opportunities
    • Young Professionals – Alex Beck
    • “Community Crawl” April 16th, 4-10pm YP’s will go around Brattleboro, leaving social media reviews/posts to boost web presence of local businesses (4-7:30)
    • Begun deepening relationships with Downtown Brattleboro Alliance & Chamber of Commerce
    • Board 2016 Priority: SoVT Recruiting
      (TENTATIVE) 6-Month YP Calendar
      May
      YP Mix @ Whetstone post Brewers-Fest (Brattleboro)
      Charlie Nardozzi “Gardening for Renters” (Location TBA)
      June
      Wilson’s Barn Ho-Down? (Dummerston)
      Late Night @ the Latchis (Brattleboro)

July
Zoar Outdoor  (Wilmington)
First-Time Home-Buyer w/ Windham Windsor Housing Trust  (Dianich Gallery, Brattleboro)
August
Brattleboro Field Day & Tie-Dye (VABEC Fields?)
Manchester mix (Manchester YP’s)
September
Apple Picking & Cider Making (Green Mountain Orchards)
October
Beaver Lanes Disk Golf (Wilmington)
Energy Efficiency for Renters with Efficiency Vermont, SEVCA, BuildingGreen (Brattleboro)

 

   Send article as PDF