Connecticut Technology Council

Entrepreneurs 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.

 

Antibiotics Developer BioRelix Inc. Secures Follow-on Investment from Connecticut Innovations

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 $269,160 in antibiotics developer BioRelix Inc. (BioRelix) of New Haven, Conn., through its Eli Whitney Fund. This investment will be part of a funding round of approximately $2.5 million for the company. CI made its first investment of $500,000 in BioRelix in December 2011.

BioRelix is developing antibiotics using a new riboswitch-based drug discovery platform. Riboswitches are short stretches of messenger ribonucleic acid (mRNA) that bind small molecules and control genes that are essential for the survival of many human pathogens. First identified in the laboratory of Prof. Ron Breaker at Yale University, several different classes of riboswitch mRNAs have been identified and each potentially could serve as a novel anti-infective drug target.

“The ongoing support from our current investors has been critical to our progress in advancing potential new antibiotics through the research and development process,” said Brian Dixon, chief executive officer of BioRelix. “We are very pleased that Connecticut Innovations continues to invest in our efforts and support the development of new medicines here in New Haven.”

The BioRelix team, which includes several scientists that formerly worked at Bayer Pharmaceuticals and Yale University, has extensive scientific and drug development experience. The team has successfully secured technology licenses from Yale University and other institutions.

The company’s most advanced initiative is an antibiotic for a hospital-acquired infection. BioRelix is also involved in a research collaboration with a subsidiary of Merck & Co. to identify new antibacterial drug candidates.

“CI’s follow-on investment in BioRelix demonstrates our confidence in the company’s innovative antibiotic platform and supports Governor Malloy’s goal to strengthen Connecticut’s bioscience industry,” said Claire Leonardi, chief executive officer and executive director of CI.  “We look forward to supporting the BioRelix team.”

About Connecticut Innovations Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in early-stage Connecticut technology companies, university/industry research collaborations and technology transfer and collaborating with government, business, nonprofit and academic organizations to advance technology growth and promote public policies consistent with CI’s mission. For more information on CI, please visit www.ctinnovations.com.

About BioRelix Inc.
BioRelix Inc. is a drug discovery and development company focused on identifying new anti-infective drug treatments. BioRelix is building a portfolio of products based on novel patented RNA targets, termed riboswitches, which were identified by the laboratory of BioRelix co-founder, Ronald Breaker, Ph.D., Howard Hughes Investigator and Henry Ford II Professor at Yale University. BioRelix owns a worldwide license to develop and market riboswitch targeted medicines. The company’s investors include CHL Medical Partners, Novartis Bioventures, New Leaf Ventures, Aisling Capital, Elm Street Ventures, Alexandria Equities and Connecticut Innovations. For more information on BioRelix, please visit www.biorelix.com.

Tech Trends - article picks from SSTI staff, Week of 04/02/12

U.S. Manufacturing Office Seeks Input on Program Design for $1B Initiative 
The U.S. Advanced Manufacturing National Program Office will hold its first workshop to help design a national network of regional manufacturing innovation hubs on April 25 at the Rensselaer Polytechnic Institute in Troy, NY. The event will be the first in a series of meetings to gather ideas from industry, academia and government participants on how to best structure the proposed National Network for Manufacturing Innovation. The president's FY13 budget requests $1 billion for the initiative to create up to 15 regional institutes, which will help develop industry-relevant manufacturing technologies. Read the announcement...

Obama Administration Announces $200M in Data-Driven R&D 
Six federal departments and agencies today announced a total of $200 million in commitments to support R&D related to the manipulation of large data sets. The Big Data Research and Development Initiative will invest in efforts to improve our ability to extract knowledge from large collections of digital data. The announcement comes in response to recommendations issued last year by the President's Council of Advisors on Science and Technology, which found that the federal government was under-investing in data science. Learn more...

New SBA Online Portal to Connect Small Businesses with Corporate Supply Chains 
The SBA announced Supplier Connection, a private-public collaboration intended to help small businesses strengthen their revenue streams by gaining access to more than $300 billion in combined supply chain spending by a consortium of 15 of America's largest corporations. Supplier Connection, a free online portal created by the IBM Foundation, allows small businesses to send information about their products and services to 15 large private sector companies. The Obama administration hopes it will help bridge the gap between small, nimble businesses looking for new opportunities and large corporations looking for innovative new ideas and diversity in their supply chains. Visit the Supplier Connection website...

Inside Higher ED: Stem Cells Revisted 
State level threats to stem cell research are on the rise as the policy debate at public universities heats up in Michigan and Nebraska. At the same time, the issue remains absent on the presidential campaign trail.Read more ...

New Book Explores Methods to Foster Innovation in the Workplace 
Science writer Jonah Lehrer explores where innovative thoughts originate and how some companies are creating environments where they are more likely to occur. Read more ...

Five Trends Shaping Workforce of Advanced Economies 
A growing skills mismatch and geographic imbalance are highlighted in the McKinsey Global Institute's latest discussion paper, which explores the forces shaping new jobs created, who fills them, where they are located, and what they pay. Read more ...

Nominations Open for Excellent K-6 Math and Science Teachers 
The nation's highest honor for math and science teachers recognizes the most inspiring teachers. Awardees receive $10,000 from the National Science Foundation, professional development opportunities and more. Nominations are due April 1. Read more ...

Benefits to Public Workers Cut by 43 States over Three Years 
NCSL highlights major changes in state retirement plans to address long-term funding issues from 43 states in 2009-2011. Read more ...

Consumer Survey Reports U.S. Economic Model Broken 
A recent consumer survey found working Americans feel as worried about their financial situation today as they did a year and one-half ago. A striking 63 percent of respondents think the U.S. economic model no longer works for most Americans. Read more ...

BLS Reports 3.1M U.S. Jobs Were Green in 2010 
California had the largest number of green jobs and Vermont had the highest percentage of employment in green goods and services at 4.4 percent. Read more ...

Patent Decision Could Be Setback for Life Sciences Industry 
A recent Supreme Court ruling could affect the patentability of life-sciences inventions developed at universities and other research institutions. Read more ...

Minority Biomedical Entrepreneurship Conference in Cleveland 
The America21 Project and BioEnterprise are hosting the first annual event May 21-22. Attendees can connect with capital investment resources and learn about trends. Read more ...