Vermont may be known for its picturesque landscapes, quaint towns, and maple syrup, but it‘s also home to a thriving tech industry that‘s making waves across the country. With over 2,000 tech businesses employing more than 16,000 people, the Green Mountain State has become a hub for innovation and entrepreneurship in recent years.
According to the Vermont Technology Alliance, the state‘s tech industry was worth over $2.8 billion in 2020, accounting for a significant portion of its economic output. And with 8% of Vermont‘s workforce engaged in tech-related roles, it‘s clear that this sector is a major driver of job growth and opportunity.
So, who are the key players in Vermont‘s tech scene? Let‘s take a closer look at some of the largest and most influential companies making their mark on the industry.
One of the oldest and most established tech firms in the state is Systems and Software, founded in 1973. Based in Winooski, this company specializes in developing custom financial management software, utility billing solutions, and customer information systems for businesses. With a staff of 30, including many graduates from nearby Champlain College, Systems and Software has built a reputation for delivering high-quality, reliable software to clients across various industries.
In the education technology space, Schoolhack Solutions is making a big impact. Founded by local educators in 2014, this Bristol-based company created LiFT, a proprietary online learning platform used in dozens of Vermont schools. By keeping teachers and students connected, personalizing lesson plans, and incorporating real-life experiences, LiFT aims to optimize educational outcomes for Vermont students. The company‘s innovative approach even secured a $350,000 business loan from the state government in 2016.
Another major player is Inntopia, a Stowe-based company that provides customer relationship management (CRM) software for the travel industry. Founded in 1998 by Trevor Crist, Inntopia‘s platform is used by hundreds of resorts, hotels, and travel agents to streamline online booking processes. When the COVID-19 pandemic hit, the company quickly pivoted to develop test scheduling software for travelers, demonstrating its agility and responsiveness to changing market needs.
In the healthcare sector, Data Innovations LLC has been a leader in middleware solutions for medical clinics and blood laboratories since 1989. With 180 employees across offices in Colchester and several international locations, the company installs and maintains software systems in over 6,500 hospitals and clinics worldwide. Data Innovations also actively recruits talent from the University of Vermont, with over 14% of its Vermont workforce hailing from the school.
iTech US, founded in 2001 and based in South Burlington, is another major employer in the state‘s tech industry. With 200 employees in Vermont and over 1,200 globally, iTech provides technology consulting, software development, and staffing services to medium and large businesses. The company prides itself on leveraging the latest advances in technology and agile methodologies to deliver innovative solutions to clients.
In the energy sector, Dynapower Company LLC has been designing and manufacturing custom power electronics and energy conversion equipment since 1963. Based in South Burlington with 300 employees worldwide, Dynapower serves a wide range of clients, from small businesses to Fortune 500 companies, military institutions, and government agencies. The company is also actively involved in research collaborations with the U.S. Department of Energy to optimize energy grid solutions.
Simmonds Precision Products, Inc., a subsidiary of Collins Aerospace, is another major player in Vermont‘s tech landscape. Founded in 1956 and based in Vergennes, this company designs and manufactures electronic systems, sensors, and aircraft parts for the aviation and defense industries. With 650 employees, including many from Vermont Technical College, Simmonds Precision Products has been supporting the U.S. military for decades, such as through a recent $15 million Navy contract for medical monitoring devices.
On the publicly-traded side, The Peck Company (formerly Peck Electric) stands out as a leading contractor and manufacturer of solar power systems and related technologies. Founded in 1972 and based in Williston, The Peck Company employs over 350 people and generated $28.2 million in revenue in 2019. With plans to expand across New England, the company is poised for continued growth in the renewable energy sector.
While these companies represent some of the largest and most successful in Vermont‘s tech industry, it‘s worth noting that not all startups have found long-term success. SUSS Microtec, a Germany-based chip manufacturer, closed its Waterbury plant in 2015 after 35 years of operation, while Seldon Technologies, a water purification startup, shuttered in the same year due to lack of funding. These cases highlight the challenges and risks inherent in the fast-paced world of technology entrepreneurship.
Looking ahead, Vermont‘s tech industry shows no signs of slowing down. In August 2022, Governor Phil Scott announced the launch of Elevate Vermont, an initiative that provides over $800,000 in seed funding and grants to support tech startups in the state. This program, along with the more than $600 million in outside investment that flowed into Vermont‘s tech sector in 2021, underscores the ongoing importance of technology for the state‘s economic future.
As Vermont continues to attract top talent, nurture innovation, and support the growth of its tech businesses, it‘s clear that this small state is punching well above its weight in the digital economy. With a skilled workforce, strong educational partnerships, and a supportive business environment, Vermont is well-positioned to remain a leader in the tech industry for years to come.
