Elevate Vermont Matching Grants Available to Tech Businesses

FOR IMMEDIATE RELEASE
May 1, 2025

Elevate Vermont Matching Grants Available to Tech Businesses
Applicants must have received Small Business Innovation Research or Small Business Technology Transfer award.

Montpelier, Vt. – Starting today, the Elevate Vermont program of the Vermont Department of Economic Development (DED) is accepting applications for grants of up to $50,000 to help innovative technology-based businesses grow and commercialize new technologies in Vermont. 

“These Elevate Vermont grants are a powerful tool to help tech start-ups and small companies grow and bring their ideas into the marketplace,” says Interim DED Commissioner Brett Long. “Vermont is heavily invested in innovation and the high-quality jobs it creates.”

Non-competitive matching grants are available to companies that have received a federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) award and are committed to developing and commercializing their technology in Vermont. Elevate Vermont participants and companies that have not used Elevate Vermont may be eligible. Grants may be used for marketing, market research, development of sales materials, and other costs that advance the commercialization of the research.

To qualify, businesses must be:

• For-profit entities with their principal place of business in Vermont
• Recipients of a Phase I or Phase II SBIR/STTR award
• Actively pursuing Phase II funding (for Phase I recipients), or commercialization (for Phase II recipients)

Applications are accepted on a first-come, first-served basis and will be evaluated based on eligibility. The application includes a project narrative, a timeline with milestones, and a project budget. Each business is eligible for one grant per federal award and can receive up to five awards over the life of the business.

In 2023, DED launched Elevate Vermont Technical Assistance which paired businesses with consultants who specialize in navigating the SBIR/STTR application process. The new funding for the Elevate Vermont Matching Grants available now resulted from Act 74 which was passed in 2022 by the Vermont Legislature and reflect the state’s continued commitment to fostering a robust innovation economy.