Elevate Vermont Matching Grants

Elevate Vermont Matching Grants is sponsored by Vermont Department of Economic Development. Elevate Vermont offers non-competitive matching grants to Vermont-based businesses that have received a federal SBIR (Small Business Innovation Research) or STTR (Small Business Technology Transfer) Phase I or Phase II award.

These funds can be used to offset expenses related to launching a new product into the marketplace that cannot be supported with federal funds, such as marketing, market research, and development of sales materials.

Guide to Vermont Small Business Grants and Funding Options Top Small Business Grants in Vermont Vermont’s small business grants help entrepreneurs overcome financial hurdles and fuel long-term growth. From state-backed programs like the Vermont Training Program and Elevate Vermont to federal opportunities such as SBIR and STEP, these grants offer funding that doesn’t require repayment.

They’re designed to support innovation, job creation, and community development across the state. In this guide, you’ll learn about the most valuable grants available in Vermont, who qualifies, and how to apply successfully.

Easily form your LLC with Tailor Brands Start your business for as little as $0 + state fees State select llc centered Choose your LLC state Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming 1 What are small business grants?

2 Vermont state-specific grants 2. 1 Vermont Agency of Commerce and Community Development (ACCD) grants 2. 2 Vermont Economic Development Authority (VEDA) grants 2.

3 Vermont Training Program (VTP) grants 2. 4 Industry-specific and niche grants: overview 3 Federal grants available to Vermont businesses 3. 1 Small Business Innovation Research (SBIR) grants 3.

2 Small Business Technology Transfer (STTR) grants 3. 3 Small Business Administration (SBA) grants 3. 4 State Trade Expansion Program (STEP) grants 4 Corporate and private foundation grants While loans are one option, they create debt and add pressure to repay with interest.

Grants, on the other hand, are unique because they provide financial support that does not have to be paid back. For new businesses that have not yet started generating revenue, or for companies that want to grow without risking too much leverage, grants can provide the breathing room they need to succeed.

In Vermont, where small businesses are the backbone of many local communities, finding small business grants can serve as a lifeline. The financial challenges are real, with rising costs, seasonal slowdowns, and limited access to capital often leaving business owners stretched thin. Grants can help ease that burden by offering funding that does not eat into future profits.

This makes them a powerful tool for entrepreneurs who want to innovate, expand, or simply keep their doors open. Ultimately, grants can give Vermont businesses the critical boost they need to not only stay afloat today, but to thrive over the long-term. What are small business grants?

Small business grants are funds provided by government agencies, nonprofit organizations, corporations, or community groups to help businesses pursue their goals. Grants differ from loans in one key way: they generally do not require repayment. This makes them attractive because they do not create debt or demand a trade in equity as venture capital often does.

While other types of financing (such as credit lines or crowdfunding campaigns) can also provide capital, they typically involve ongoing costs or obligations that grants avoid. Grants are offered for many reasons. Federal agencies often use them to encourage innovation or research in areas such as energy, defense, or healthcare.

Vermont and other state governments commonly fund grant programs to strengthen local economies and support industries that matter most to their residents. Corporations sometimes sponsor contests or initiatives to support small businesses nationwide, and nonprofit foundations frequently award grants to companies that align with their missions. The benefit of receiving a grant goes beyond the money itself.

Because repayment is not required, a business owner can invest funds directly into training workers, developing new products, or expanding operations without worrying about loan installments. For entrepreneurs still proving their ideas, this can mean the difference between stalling out early and reaching sustainable growth.

Grants can also come with extra advantages (such as mentorship, technical assistance, or matching funds), which can stretch their impact even further. Vermont state-specific grants Vermont has a range of grant programs tailored to the needs of its local businesses. These programs are often administered by state agencies or through partnerships with nonprofit organizations.

They address problems in the areas of workforce development, economic stability, community revitalization, historic preservation, and address other issues that are important to Vermont. Vermont Agency of Commerce and Community Development (ACCD) grants The Agency of Commerce and Community Development, often called ACCD, manages a wide variety of economic and community development programs in Vermont.

The agency is known for supporting initiatives that breathe new life into communities, strengthen businesses, and encourage tourism. One of its best-known programs is the Better Places Grant, which helps towns and cities create vibrant public spaces like markets, plazas, and cultural hubs. Projects funded by ACCD often aim to make communities more inviting while boosting local business activity.

Applying for an ACCD grant usually involves submitting a project proposal through the agency’s online portal. Applicants are asked to describe their project, outline a budget, and provide information on any matching funds. For the Better Places program, applicants are also required to organize a crowdfunding campaign through the Patronicity platform.

Once the community demonstrates support by raising funds, the state makes the project financially viable by providing a matching grant. Strong applications tend to show clear public benefits, measurable outcomes, and community involvement. ACCD staff are available to help applicants confirm eligibility and prepare materials for submission.

Vermont Economic Development Authority (VEDA) grants The Vermont Economic Development Authority, better known as VEDA , is primarily known for offering financing to businesses, but it sometimes oversees grant-like programs in partnership with other state or federal initiatives. These programs are designed to help businesses that cannot secure enough traditional financing to move forward.

Although loans remain at the heart of what VEDA does, the organization occasionally provides grants or hybrid programs that reduce costs for businesses in priority sectors. The VEDA grant application process usually begins with business owners exploring opportunities on the VEDA website. To discuss these opportunities, applicants schedule a consultation with VEDA staff member.

Businesses are typically asked to provide a project proposal, financial records, and details about how the project will create or retain jobs in Vermont. Applications must also explain why conventional financing is not sufficient. Once an application is submitted, the VEDA board reviews it and makes the final decision.

Vermont Training Program (VTP) grants One of the most practical grants available in the state is the Vermont Training Program. Widely known as VTP , this program helps employers cover the cost of training workers by reimbursing up to half of eligible expenses.

The goal is to give Vermont businesses the ability to train new hires or upgrade the skills of current employees, ensuring that the local workforce remains competitive in fast-changing industries. Businesses interested in VTP can apply through the ACCD website by submitting a detailed training plan. This plan explains the goals of the training, identifies which employees will participate, and estimates the cost.

Once approved, businesses conduct the training and subsequently request reimbursement. Because the program focuses on aligning workforce skills with Vermont’s economic priorities, successful applicants tend to work closely with program administrators throughout the process. Industry-specific and niche grants: overview In addition to broad programs, Vermont offers grants that are tailored to specific industries or sectors.

These niche grants are important because they focus resources on areas that have a unique role in Vermont’s identity and economy, such as technology, outdoor recreation, and historic preservation. Elevate Vermont provides matching funds to businesses that win federal Small Business Innovation Research (STTR) or Small Business Innovation Research (SBIR) awards.

Since federal funds are often restricted to research and development, Elevate Vermont ensures that small businesses also have support for commercialization, including costs such as marketing, testing, and scaling. This program has been especially valuable for Vermont’s technology startups, helping them turn groundbreaking ideas into market-ready products.

Vermont Outdoor Recreation Economic Collaborative (VOREC) grants Outdoor recreation is a cornerstone of Vermont’s culture and economy, and the Vermont Outdoor Recreation Economic Collaborative, known as VOREC , supports projects that strengthen this sector. VOREC has awarded grants for trail improvements, recreation facilities, tourism programs, or events that bring visitors and locals together.

By funding outdoor projects, VOREC not only enhances the quality of life for residents but promotes sustainable economic development in towns that rely on recreation and tourism. Paul Bruhn Historic Revitalization (PBHR) grants The Paul Bruhn Historic Revitalization grant program, named after a longtime preservation leader, helps communities restore rural historic buildings.

Administered by the Preservation Trust of Vermont with support from the National Park Service, this program allows towns to preserve their architectural heritage while putting old buildings to new use. Whether turned into a business, community center, or housing, these revitalized spaces contribute to local vitality and keep Vermont’s rural character alive.

Federal grants available to Vermont businesses Beyond state programs, Vermont businesses also have access to federal grant opportunities. These are often larger in scale and highly competitive, but they open the door to research, development, and international growth. Small Business Innovation Research (SBIR) grants The Small Business Innovation Research (SBIR) program funds small businesses that are engaged in research and development.

Through SBIR, federal agencies such as the Department of Defense or the National Institutes of Health issue solicitations for projects that align with their needs. Grants are awarded in phases, starting with a feasibility study in Phase I and moving to product development in Phase II. Vermont businesses that succeed in this program often gain national visibility as well as critical funding.

To apply for an SBIR grant, businesses must identify relevant solicitations on the SBIR website. When they find one, they must prepare a detailed proposal that emphasizes technical merit and commercial potential, and then submit this proposal electronically through Grants. gov .

The process is competitive, but it can make a tremendous positive difference for research-focused small businesses. Small Business Technology Transfer (STTR) grants The Small Business Technology Transfer (STTR) program is much like SBIR but requires applicants to partner with a nonprofit research institution. Vermont companies often team up with the University of Vermont to combine business innovation with academic expertise.

Like SBIR, STTR awards are granted in multiple phases and can provide substantial support for research and commercialization. The application process requires early collaboration with the research partner to define roles, budgets, and intellectual property agreements. Proposals are then submitted through federal portals, with requirements varying depending on the agency involved.

Small Business Administration (SBA) grants While the Small Business Administration provides very few direct grants to businesses, it funds organizations that support entrepreneurs through training, technical assistance, and resource development. Vermont businesses benefit indirectly from SBA programs by working with resource partners such as Small Business Development Centers and other organizations supported by the agency.

To explore available opportunities, business owners can monitor the SBA website and consult the Vermont SBA District Office . The office helps entrepreneurs determine if SBA-backed resources can meet their needs and guide them toward the right programs.

State Trade Expansion Program (STEP) grants Sponsored and operated by the SBA, the State Trade Expansion Program, commonly referred to as STEP , helps small businesses expand into international markets. In Vermont, STEP funds can reimburse expenses for trade missions, translation services, foreign market research, and compliance with export regulations.

This program is designed to make global expansion more affordable and achievable for local businesses. In Vermont, the STEP application begins with a pre-approval form submitted to the Vermont ACCD STEP program. Once pre-approval is granted, businesses participate in export activities and then submit receipts for reimbursement.

Companies that maintain strong records and comply with program guidelines typically experience faster approvals. Corporate and private foundation grants Corporate and nonprofit foundation grants are another valuable resource for Vermont businesses. While these programs may not be as consistent as state or federal funding, they often provide unique opportunities and can be highly competitive.

The FedEx Small Business Grant Contest was one of the best-known corporate programs, offering both funding and national exposure, though it was discontinued in 2024. Visa has provided grants focused on women entrepreneurs and minority-owned businesses, often tied to programs that help small businesses embrace digital tools. Vermont’s private foundations include the Vermont Community Foundation and the Preservation Trust of Vermont .

Both of these foundations manage grant programs that support local businesses, particularly in areas of community and historic development. Corporate and foundation grants are expected to play an even larger role in the future, especially in areas such as sustainability, equity, and technology. As they look for funding and growth opportunities, entrepreneurs should pay close attention both to national contests and to local foundations.

Running a small business in Vermont will always come with challenges, but the right funding can make those challenges easier to overcome. Grants provide a way to invest in your business without taking on additional debt, allowing you to focus on growth, hiring, and innovation rather than repayment schedules.

Whether you are just getting started or looking for ways to expand, taking time to research and apply for grants can have a lasting impact on your success. If you are still in the early stages, learning how to start a business is a great first step that will make your grant applications stronger and your operations more focused from the start.

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