Tech Companies to Watch

Congress Approves Six-Year SBIR Reauthorization

After 14 short-term continuing resolutions and years of negotiations, the federal Small Business Innovation Research (SBIR) and Small Business Technology Tranfer (STTR) programs have been reauthorized through 2017. The legislation changes a number of features of SBIR/STTR, including making it possible for companies that are majority-owned by venture capital firms to receive awards. President Obama is expected to sign the bill in the near future.

Last week, the House of Representatives passed the National Defense Authorization (HR 1540) conference report, which had incorporated the SBIR reauthorization. The six-year term of the conference agreement was a compromise between the three-year reauthorization approved by the House in April and the eight-year term passed by the Senate earlier this month. Funding for awards will increase gradually over the six-year period. Federal science agency set-asides for SBIR will increase from 2.5 percent of their budget in the first year to 3.2 percent by 2017. STTR set-asides will grow from 0.3 percent to 0.45 percent.

The increase in agency set-asides will contribute to a significant boost in the size of awards. Phase I SBIR and STTR awards will increase from $100,000 to $150,000. Phase II will increase from $750,000 to $1 million. Up to 25 percent of the awards made by the National Institutes of Health, the Department of Energy and the National Science Foundation can be invested in companies that are majority-owned by venture capital firms, including hedge funds or other private equity firms. Other agencies can make up to 15 percent of their awards in venture firm-controlled companies.

A new pilot program will allow agencies to use three percent of SBIR funds for administration, oversight and outreach. This program helps carry out required data collection on awards and investigate abuses. It also will be used to encourage participation of companies in states that receive few awards.

Once signed by the President, the Small Business Administration will have 180 days to implement the revised rules, during which time the public will have a change to offer comments and recommendations.

Read HR 1540 and check its status at: http://thomas.loc.gov/cgi-bin/bdquery/z?d112:h.r.01540:

Attributed to: State Science and Technology Instiute

 

Startup Weekend Storrs, at UConn January 27-29, 2012

Do you have a great idea for a startup?  Want a chance to work on a new application idea with a high-energy team?

Startup Weekend Storrs is an intense 54-hour weekend-long event (January 27-29, 2012) which focuses on building a web or mobile application which could form the basis of a credible business. The weekend brings together people with different skill sets -- primarily software developers, graphics designers, and business professionals -- to build applications and develop a commercial case around them.  To learn more about Startup Weekend, visit http://storrs.startupweekend.org.

For the latest about Startup Weekend Storrs, follow us on Twitter @swstorrs ( http://www.twitter.com/swstorrs), or look for the hashtag #swstorrs.  A Facebook page is in on its way - for specific questions, contact the organizing team at storrs@startupweekend.org .

To attend, register online at http://storrs.startupweekend.org/tickets/ - student tickets are just $25.

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Editor's Note:  This is the third startup weekend in CT - Hartford & New Haven have held them already.  I have heard it described as a life changing event!  It is a huge time commitment - a full weekend, but the development process is exciting and fulfilling!   We are looking to see what great ideas come out of this one!

About “crowdfunding” legislation – The Democratizing Access to Capital Act: Creating A Nation of Venture Capitalists Through Crowdfunding

Crowdfunding "would allow small companies to offer shares of stock directly to ordinary investors through established and vetted peer-to-peer platforms. “Crowdfunding” is just a new term for an old idea: offering small-dollar investors the chance to invest in new ideas."
Great article in Wired by Sen. Scott Brown: http://www.wired.com/epicenter/2011/11/scott-brown-next-steve-jobs/all/1

Startup Weekend New Haven gives 'rapid start to new businesses'

City resident John Fitzpatrick has an idea for a business that would get adolescents with diabetes to check their blood sugar frequently.

Fitzpatrick is among several entrepreneurs participating this weekend in the new "Startup Weekend New Haven," an event aimed at helping people with an idea for a business venture turn it into reality.

Those attending the event that began Friday, packed The Grove on Orange Street Saturday. The event is focused on people who want to create a web or mobile application which could form the basis of a business, according to the event's web site.

Participants listened to advice and met in groups to get input from a variety of experts and mentors. Winners will be selected today.

Fitzpatrick's idea is to develop a mobile app to help adolescents with diabetes. It would provide incentives to test one's blood sugar, such as blocking text messaging capability until a test has been completed, or providing rewards like cheat codes for games, he said.

"Diabetes is a serious disease with serious complications, and the first step in management is managing blood sugar," Fitzpatrick said.

His wife has diabetes, which got him thinking about how to help others with the disease, he said. On Saturday, Fitzpatrick met with experts in software development and psychology to get advice. "I'm just learning how to start a business and I hope to get started out of this weekend," Fitzpatrick said.

Candace Klein, guest speaker at the event, is an attorney and has her own business, Bad Girl Ventures, a nonprofit that provides loans to women who want to start businesses. Klein gave advice on a variety of topics entrepreneurs must know to be successful, such as how to pitch an idea to investors, research one's market, build a management team, and secure patents.

"There is a really good mix of business ideas, and it has been good to see people who don't know each other forming teams," said Derek Koch, event organizer and the founder and CEO of the city-based Independent Software. "The weekend gives people a rapid start for their new business." The local entrepreneurs' ideas included start-ups involving coupons and sports communities, for example.

"It is a judged competition, with winning the goal, but going through the weekend helps people start the business they have been working on and dreaming about," Koch said.

According to the event's website, the plan is to keep the momentum going with continued events in the community, workshops and more Startup Weekends like the current one. Visit the website, http://newhaven.startupweekend.org/ for more information and updates.

Contact Michelle Tuccitto Sullo at 203-789-5707.

___ (c)2011 the New Haven Register (New Haven, Conn.) Visit the New Haven Register (New Haven, Conn.) at www.nhregister.com Distributed by MCT Information Services 

Why Science, LLC

Why Science designs, develops, and delivers platforms in manufacturing educational technologies, web-tools and interactive software. The resulting technology products (web-tools and interactive software) will be used by WHY SCIENCE and its partners to deliver online training and enhance current onsite training. The company's goal is to create educational technologies that inspire teachers to train tomorrow's leaders, discoverers, and innovators in science today using engaging science curricula, films, multimedia and web-based applications.

Why Science, LLC
New Haven, CT
Dr. Yvonne Akpalu, Founder & CEO
http://www.whyscience.com

 

This company has been selected as a 2011 CT Tech Company to Watch, for more information visit,http://www.ct.org/Innovation_Pipeline.asp.

Click here for the year's event recap--> http://bit.ly/tdNqwc

Watu Research

Watu is a revolutionary new way to perform data collection and surveying in emerging market populations. We give a job to anyone with a phone by paying them in phone credits for collecting information around them. We gather data faster, more affordably and more comprehensively, for market research firms interested in insights from developing countries -- enabling whole new populations a voice and for many, to afford a phone for the first time.

Watu Research
Mansfield Center, CT
Steve Moses, CEO
http://www.waturesearch.com

 

This company has been selected as a 2011 CT Tech Company to Watch, for more information visit,http://www.ct.org/Innovation_Pipeline.asp.

Click here for the year's event recap--> http://bit.ly/tdNqwc

Volvensa

Volvensa is a company based in Connecticut that offers a proprietary optimized fuel injection system for fossil fuel burning within IC engines. Engines will be able to burn at the same current performance level using less fuel and increasing gas mileage efficiency by up to 10X. Volvente will revolutionize the modern engine and will become the new industry standard for any manufacturer or company using internal combustion engines.

Volvensa
Avon, CT
Hemal Shah, Founder

 

This company has been selected as a 2011 CT Tech Company to Watch, for more information visit,http://www.ct.org/Innovation_Pipeline.asp.

Click here for the year's event recap--> http://bit.ly/tdNqwc

Virtual Procurement Services

VPS uses proprietary technology (VVI©) and processes to evaluate and renegotiate technology maintenance contracts. VPS is earning back this money for our customers without affecting vendor relationships or service level agreements.

Virtual Procurement Services
Fairfield, CT
Scott Robins, CEO
http://www.vprocurement.com

 

This company has been selected as a 2011 CT Tech Company to Watch, for more information visit,http://www.ct.org/Innovation_Pipeline.asp.

Click here for the year's event recap--> http://bit.ly/tdNqwc

Umbie Health Corp.

We are creating a web-based and mobile application for the healthcare industry. Our first product is Umbie Office (www.umbieoffice.com), which is currently in development. Other applications in research/prototype are Umbie HomeCare and Umbie HospiceCare. We also create custom web and mobile applications for providers, payers, and other healthcare organizations.

Umbie Health Corp.
East Hartford, CT
Jeremy Hamel, President
http://www.umbiehealth.com

 

This company has been selected as a 2011 CT Tech Company to Watch, for more information visit,http://www.ct.org/Innovation_Pipeline.asp.

Click here for the year's event recap--> http://bit.ly/tdNqwc

Type-U

Type-U is a vibrant, invitation-only health and wellness platform that combines in-person and on-line interactions with a distinct set of resources and member benefits to help people with diabetes live happier and healthier. 

Type-U
Norwood, MA
Mike Norwood, CEO
http://www.type-u.net

 

This company has been selected as a 2011 CT Tech Company to Watch, for more information visit,http://www.ct.org/Innovation_Pipeline.asp.

Click here for the year's event recap--> http://bit.ly/tdNqwc