VIC Technology Venture Development, the former Virtual Incubation Co., last week announced big plans to establish the VIC Investor Network that will provide $250,000 in funding to every new VIC startup.
Chris Bahn of Arkansas Business has coverage of the announcement here. (VIC’s portfolio of companies includes several IA firms. Check ‘em out here.)
But even without the new startup fund and expansion plans outlined last week, VIC has had a huge impact on Fayetteville and the surrounding area.
We just wanted to point that out real quick. We could fill a page or more with links to AB coverage of VIC and its portfolio companies. Instead, we’ll just link to this previous post that includes links to some of that coverage.
Consider that since its founding in 2003, VIC has:
- Twelve portfolio companies based on large market potential disruptive technologies
- Over $30MM in federal grant funding into portfolio since 2003
- Multiple innovative, large market opportunity products brought to market
- Average wage of about $90,000
- Rapid value growth in portfolio companies estimated at over 40% per year average
- Successfully translated VIC business model to Boston, Mass. area with opening of Atlantic VIC
Expect even bigger things from Arkansas-bred VIC in the future.