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I pulled data from the [[US Startup City Ranking]] project, which also provides state rankings, and draws data from [[VCDB20]] to make some graphs showing Vermont's VC over time. Vermont's VC is so small that it is dwarfed by year-to-year national variation, which is one or two orders of magnitude larger. So, as much as we might want Vermont to be something, it is currently very much a rounding error. Its state rank has mostly oscillated between 35 and 40. Its current contemporary states include Alabama, Louisianna, Montana, and Idaho, none of which can be considered successful for their entrepreneurship. Its five-year moving average rank suggests that Vermont's most recent peak was 10 years ago.