Connecticut Technology Council

Bigger Than Chicago and You’ve Never Heard of It…

The CTC’s Matthew Nemerson travelled to China this March with a delegation from Connecticut including Marcom LLP senior partner John Schuyler who is also chairman of the Connecticut – US Commerce Department Export Council, senior staff from CT Innovations, a partner from Wiggin & Dana, LLP and Daniel Drew, the new mayor of Middletown.  Unlike most trade missions, the goal was not to sell products per se, but instead to seek direct investments from Chinese government and private entities that are looking to purchase or take positions in American firms with technologies that are of interest to the Chinese.  Quite a turn of the screw from 25 years ago when Connecticut first set sail for China with an official trade mission led then by Governor William O’Neal. The hope in 1987 was to land big contracts for manufactured goods to sell or make them – inside in a growing country. Now, with trillions of US dollars on hand in various types of organizations and a growing group of internationally savvy investors, China is a legitimate and huge source of venture capital. 

Along the way if the companies can find partners to exploit growing Chinese markets that is more upside, but for the forty or so firms – some CI portfolio firms, others clients of Wiggin & Dana or Marcom and seven established CTC members – were all being pitched as if this were the old CVG Crossroads event.

Eighty government officials and curious investors showed up in Jinan City, Shandong Province and two days later nearly 100 were on hand in Shenyang, Liaoning Province – a bulging city of 4 million with a software incubator itself larger than a few northeast corner Connecticut towns. 

CTC firms represented by Matthew included Axxun, Directedvision, i-Mark, Secure RF, Spot On Networks, Tribute Creations and VR Sim.  All of the companies seemed to be of some curiosity to business people in the two audiences, but no deals have been completed to date.

In addition to the meetings and presentations, the delegation was shown the site of a newly planned 1.7 million person “Bio-Tech City” in Liaoning province. Still under construction, it will be complete in five years time, together with a 180-mph high-speed rail connection to Beijing.  They sure seem to do things differently over there!

 

 

CTC Open House May 3, 4:30 pm in East Hartford

CTC invites you to join an open house celebrating the magnificent contributions of Paige Rasid during her seven years here as Marketing, Communications & Operations Director.

Please join us for a send-off party in her honor at CTC Offices in East Hartford.

Thursday, May 3, 2012 4:30-6:30pm

RSVP to Ann Discenza, adiscenza@ct.org
860-289-0878, x345

Paige will be joining Connecticut Innovations as a program manager in the CT SBIR Office where she will continue to help CT tech companies!  

Entrepreneur's Flourish in New Haven

In recent years, New Haven has been a hotbed of entrepreneurial activity, launching large public companies and small startups. New Haven boasts numerous educational assets, plentiful lab and office space, and a vibrant cultural scene that is attracting young talent interested in working for exciting startups. This trend is exemplified by the popularity of the Grove a shared workspace that serves as an incubator where entrepreneurs can share ideas and networks, and CTech, a technology business incubator managed by Connecticut Innovations. 

Check out a recent article in Fast Company that references CI’s CTech and TechStartinitiatives. 

Announcing Girls of Innovation 2012 Science Challenge

Registration is open for The Girls of Innovation Science Challenge  for girls, grades 7 & 8, to explore science and it's challenges in a fun, interactive way.

There is no fee for the students to attend, but they must pre-register here and get confirmation from CTC.

About the program:                                                           
An offshoot of CTC's Women of Innovation program, Girls of Innovation inspires today's middle school students to consider studies in science and technology-related research, health services and business areas.

Our sponsor, Covidien Surgical Devices and volunteers actively encourage Connecticut's talented young women to prepare for key roles that will enhance organizational innovation and achievement. We thank them for their support of this effort.  

When: Saturday, June 9 - 8:30 AM - 2:30 PM

Where: Connecticut Science Centre , 200 Columbus Blvd., Hartford CT

 

To know more about the event. Click Here

 

 

Matthew Nemerson talks to WNPR about crowdfunding

Entrepreneurs all over the country are buzzing about crowdfunding. A new federal law will make it possible for small companies to attract investors online. But not everyone in Connecticut is thrilled about the new rules. WNPR’s Harriet Jones reports.

Earlier this month President Obama signed into law the JOBS Act, a measure with rare bipartisan support.

 Matthew Nemerson, President of the Connecticut Technology Council, says this new law could potentially speed up the pace of innovation.

“I think what we’re really doing here is reducing some of what have become very onerous costs of going public. And I think we’re looking at pools literally of billions of dollars around the country and around the world that are looking for new technology to invest in.”

To Read the Entire Transcript Click Here.

For more information about Crowdfunding: Click Here

 

 

Now Accepting applications for Marcum Tech Top 40

On Thursday, September 27, 2012 the 5th annual event of this popular awards program will be held.  This program recognizes technology companies on the basis of revenue growth.  Eligible companies must have
revenues of $3 Million and have been in business at least four years. 

Forty companies are recognized each year in six technology verticals. The six technology verticals are:Software, IT Services, New Media/Internet/Telecom, Life Sciences, Advanced Manufacturing, Energy/ Environmental Technology (including green technologies).

To Read More about Marcum Tech Top 40 Click Here.

To apply for Tech Top 40, click here to apply The deadline for application is May 31, 2012. 

 

To Register for the Networking Event. Click Here

 

Connecticut Innovations Makes $500,000 Follow-on Investment in Innovatient Solutions Inc.

 

 

 

Rocky Hill, Conn., April 16, 2012 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology-based innovation and economic development, today announced that it has made a follow-on investment of $500,000 in Innovatient Solutions Inc. (Innovatient) of Farmington, Conn., through its Seed Investment Fund. This investment is part of a Series A extension round of $2 million, led by CI and involving company founders and angel investors. In 2011, CI made its first investment of $500,000 in Innovatient under the first part of the Series A round.

Innovatient is developing a patient-centered information system aimed at improving communications between hospital care providers and patients in order to enhance clinical outcomes and patient satisfaction.

“It is highly encouraging that Innovatient’s tool addresses a sizeable and growing market that is being favorably affected by federal mandates on healthcare institutions,” said Claire Leonardi, chief executive officer and executive director of CI. “Our continued support of Innovatient will enable the company to address a portion of this market while supporting Governor Malloy’s goal of promoting innovation in the state.”...................

Click Here to read the Press Release

 

Great Energy & Ideas at Startup Weekend: Stamford, 04/01/2012

Congratulations to MyStuDebt for getting first place at Startup Weekend Stamford. The Teams in the second and third place were Be Beautiful and Agricomm Weather.

There were many terrific startup ideas presented, and many potential businesses in the pipeline. We look forward to seeing the success of groups move beyond this weekend.

Slideshow of the events on Flickr.

Top Winners:

• 1st Place: MyStuDebt (Michelle Laviree and Amee Patel, @mystudebt):  Helping students manage and repay their loans.
• 2nd Place: Be Beautiful (Katherine Yarborough): BeBeautiful is an online clothing exchange where women can buy and sell clothes and be a part of an online wellness community.
• 3rd Place: Agricomm Weather (Linda Woods, #Agricomm): AgriComm Weather is a fully-customizable weather dashboard, created specifically for the agricultural commodity market.

Honourable Mention:

- Risknicity (Greg Berg, #Risknicity):Making buying car insurance as easy & as social as sharing photos on Facebook.

-Love Squadron (Kip Steele, #LoveSquadron)  Service that allows you to ask your friends to help you plan the perfect date.

Other Participants:

• Caregiver Roadmap
  
• Challenge Good
  
• Enerknol
  
• Gabinja                                                                    
• Palobo
  
• The SuperHero Academy
  
• Webcard
  

Thanks go to the:

Speakers:

Richard Blumenthal, US Senator for Connecticut

Jonathan Yarmis, Doctor Disruptive

Bob Dorf,Startups Owner Manual

Art Shulman, Former COO Priceline Gasoline

Erik Endress, CEO Share with 911

Joe Rutledge, Former CMO Priceline.com

 

Mentors:

Doug Campbell, CEO, SuccessCoach

Joe DeMarco, Ponus Ridge Investments

Richard Guha,Max Brand Equity

David Furth, Leap the Pond

Ira Yellen, First Experienc Communications

Leonard Vignola, Beacon Partners

Anand Katragadda

Lafir Thassim, UBS Investment Bank

Alex Zesch,VP Technology and Marketing, IRA Market

Cindy McLaughlin,CEO, Style for Hire

McAdory Lipscomb Jr.,Founder, CEO Coach

Liwen Yaacoby

Michael Grunei,William Perrone (William and Diggins)

Kelly Hadous,Win The Room™

Scott Fuller,Business Advisor

Judges:

Joe DeMartino,Former President, Angel Investor Forum

Dale Kutnick,SVP, Gartner

Steve Obsitnik, Candidate for U.S. Congress (CT 4th District)

Geoff Schneider, Founder, Cava Capital

Konstantine Drakonakis, Director, New Haven, Launch Capital

Pauline M. Murphy, Managing Director, Investments, Connecticut Innova

Bill Gordon,Entrepreneur In Residence, Stamford iCenter

 

 

Connecticut IT Jobs Report April 2012

Labor demand for IT specialists in Connecticut declined slightly in March. Online job postings decreased 2.5%, with employers providing a daily average of 770 opportunities. Nevertheless,the job seekers in Connecticut fared better than those in other states.

Employer participation in the job market was mixed. While postings in Healthcare and Financial Services declined, there were additional openings with HiTech and Insurance companies.

Read the Full Report:Download Skillproof IT

Connecticut Report April 2012.                                                        

View Archive of Connecticut IT Jobs Trends Reports

Click here for a range of data and articles on the

economic outlook for Connecticut, prepared                                                       

by the US Bureau of Labor Statistics

See the data for unemployment among

all New England States

Technology Incubators Post Impressive Gains

Technology-focused incubators long have been praised by economic development professionals for their essential role in helping entrepreneurs succeed and populating regional economies with high-tech jobs. A number of incubators recently have unveiled data to support that view, including the first impact report from Detroit's TechTown and an annual progress report from the Birmingham Innovation Depot, which posted impressive results in 2011.

Recent announcements of new incubators launching across the U.S. and those citing notable impact measures is included below.

Detroit's TechTown revealed that between 2007 and 2011, they helped 647 companies create more than 1,000 jobs and raise $84 million in startup capital. Additionally, active and graduate clients generated a combined total of $52 million in revenue in 2011, up from $41 million in 2010. The report highlights successful companies supported through TechTown's entrepreneurial programs, which include mentoring, financing, and access to Wayne State University's research, academic and technology assets.

Birmingham's Innovation Depot released its annual progress report, which revealed companies supported by the incubator posted record sales figures in 2011. The incubator is home to 84 companies and graduated 10 companies last year. Over the last four years, tenant companies had an economic impact of $1 billion, reportsAlabama Live.

New York Mayor Michael Bloomberg announced that 22 technology-focused companies have graduated or soon will graduate from a city-sponsored business incubator launched three years ago. Approximately 550 companies are located within the 10 city-sponsored incubators and those companies have raised more than $78 million in investor funding, according to a news release.

The University of Washington (UW) opened the New Ventures Facility with the goal of doubling the number of startups produced by UW over the next three years. The new facility initially will host up to 15 companies with room for 25 companies when the space is completed.

With funding from the Maine Technology Institute and Blackstone Charitable foundation, three small business incubators joined to form the Maine Incubation System (MEBIS) to increase the number of entrepreneurs reached across the state. MeBIS will provide business assistance and improve technology infrastructure, specifically through the creation a cloud technology network.