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InventVermont Wins $10,000 USDA Rural Business Enterprise Grant
May 2, 2006 - InventVermont has been awarded $10,000 by the United States Department of Agriculture (USDA) for its grant application entitled "Web-Based Services for Entrepreneurs in Vermont." In addition to the USDA funds, matching funds of $3,500 from our individual and corporate members will be applied towards the project. The project will develop the following resources:

  1. Inventor's Forum - A forum at the InventVermont web site where entrepreneurs can seek answers to specific questions they have about the product development and commercialization process from others that have already walked that road.
  2. Inventor's Database - A database of resources available to inventors featuring a guided process identifying what an entrepreneur needs to do at each stage in the product commercialization process and provide a list of available resources and service providers that can help at each point in the process.
  3. Inventor's Links - Links for inventors from the InventVermont web site showing photos of their invention, a description and link to the inventor's own website to aid the entrepreneur in selling their product or to get feedback on their idea.
  4. Inventor's E-Commerce Site Feasibility - Data will be acquired over time from the "Inventor's Links" to evaluate whether an E-Commerce site devoted to selling products invented in Vermont could be profitable.
  5. Inventor Help - A select group of InventVermont associates will provide limited one-on-one assistance to new entrepreneurs.

The work associated with implementing this grant will take place over the next year.

The USDA Rural Business Enterprise Grant (RBEG) Program gives funding to public bodies and private nonprofit corporations that provide assistance to small and emerging private business enterprises in rural areas. The application selection process is competitive and grants are based on scoring criteria. Some of the criteria include the organization's experience, potential for job creation and written evidence of commitment from the small businesses that startup or expansion will occur as a result of the grant.

InventVermont wishes to thank all who have contributed their time to writing the application and to our members for their generous donations that will be used as matching funds.

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