Rick Mastracchio is one of just five Connecticutians who have made the incredible journey from the Constitution State to the vast expanse of space. He is currently deep into preparations for his upcoming fourth expedition off the planet- and his longest one yet.
In November, he will be boarding a Russian Soyuz spacecraft leaving from Kazakhstan to spend an astounding six months at the International Space Station, a facility he helped prepare and supply on a previous mission.
Before joining NASA and logging almost 40 hours in space, Rick attended the University of Connecticut and left with a degree in electrical engineering and computer science. He later completed a master's in electrical engineering from Rensselaer Polytechnic Institute's Hartford campus.
On an earlier excursion to the ISS, he brought with him a UConn banner, which can be currently seen at the visitor's center in Storrs. To see what he's up to this time, follow his twitter @AstroRM, where he posts regularly.
For more on this story, check out this blog post from UConn.
(FARMINGTON, CT) – Governor Dannel P. Malloy today signed new legislation creating a $200 million Bioscience Innovation Fund during a ceremonial event at the University of Connecticut Health Center (UCHC). The fund will make investments over the next 10 years in the form of grants, equity investments, loans and loan guarantees to foster innovation in smaller companies.
“Over the last two and a half years, we’ve taken great steps forward in reinventing our economy,” said Governor Malloy. “With the addition of Jackson Laboratories and the investments we are making in our flagship university, we are positioning Connecticut to be a leader in the creation of 21st Century jobs. The Bioscience Innovation Fund will allow us to build on the tremendous progress that’s being made across our state. Little by little, we are turning around years of stagnation and growing jobs for our residents.”
“This project is not only creating jobs, but is creating energy and a momentum that will put Connecticut on track to regain our legacy of economic leadership and innovation,” Lt. Governor Wyman said. “The emerging bioscience industry plays to all of Connecticut’s strengths, and these are the tools and the resources we need to take advantage of those assets for generations to come.”
“The Bioscience Innovation Fund will provide the means to support the translation and commercialization of cutting edge science in such sectors as therapeutics, diagnostics, medical devices, bioinformatics and testing,” said Claire Leonardi, CEO of Connecticut Innovations, the organization that will administer the fund. “This is a very exciting time for bioscience as the cycle of discovery is ever more rapid. On behalf of CI, I’d like to thank the governor for recognizing the opportunity to build on Connecticut’s incredible bioscience assets. The industry’s future will be driven by innovation, and the fund’s investments will be a catalyst for that growth.”
Prior to the bill signing, the Governor joined legislative and University leaders on a tour of Bioscience Connecticut construction progress at UCHC.
Construction has been underway for the last year at the UConn Health Center to fulfill all aspects of Bioscience Connecticut – a forward-thinking plan championed by Governor Malloy and approved by the General Assembly in 2011 to create thousands of construction and related jobs in the short term and generate long-term, sustainable economic growth based on bioscience research, innovation, entrepreneurship, and commercialization.
“The new Bioscience Connecticut fund will build upon the significant investment the state has already made in the UConn Health Center and Jackson Labs,” said Commissioner Catherine Smith of the Department of Economic and Community Development. “The fund will promote economic development by allowing investments in translational research, emerging technologies and new companies. It is a terrific example of how Governor Malloy’s economic development strategy works: combining the resources of the state, the private sector, and our research universities to enhance our position in the bioscience sector and establish Connecticut as a global destination for leading edge medical innovation.”
In the year following its groundbreaking last June, all aspects of Bioscience Connecticut have moved forward on time and on budget. Of note, the project has created about 700 construction and related jobs on the UConn Health Center campus in its first year, including higher-than-required averages for small and minority business participation and 82 percent of all work going to Connecticut-based contractors. The number of construction jobs will rise significantly over the next three years.
“As we move forward with this exciting project, we remain enormously appreciative of the support and confidence entrusted to us from Governor Malloy and the General Assembly,” says Dr. Frank M. Torti, the Health Center’s executive vice president for health affairs and dean of the UConn School of Medicine.
UConn President Susan Herbst noted the vital connection between Bioscience Connecticut, the Bioscience Innovation Fund and Next Generation Connecticut legislation approved this past legislative session that will greatly expand educational opportunities, research, and innovation in the science, technology, engineering, and math (STEM) disciplines at UConn over the next decade.
“The University is deeply grateful to Governor Malloy and the General Assembly for their recognition of the University’s role in economic and workforce development,” she added. “There is strong data to support that these initiatives will work. For example, by investing STEM, Next Generation Connecticut will generate $146 million per year in new research expenditures and $285 million in new business activity in Connecticut. In addition, it will create 4,050 permanent new jobs and 30,000 total construction jobs through 2024. This is a model that has worked in other states and is bound for success in Connecticut – along with many other facets of the Governor’s economic development plan.”
In addition, the Governor noted the progress of the new Jackson Laboratory for Genomic Medicine, which broke ground in January and is on schedule for occupancy in the fall of 2014. The 189,000-square-foot facility will house research laboratories, offices for scientists and administrators, conference areas to support scientific collaboration, and leading-edge genome analysis technology.
“We are proud to be here and proud to be helping Connecticut build a stronger life sciences industry,” said Mike Hyde, Vice President for External Affairs and Strategic Partnerships as the Jackson Laboratory for Genomic Medicine’s. “Meaningful partnerships with institutions of higher learning will allow us to tap into the best minds in the state, so that we can make the medical advancements that will have a direct impact on people’s lives.”
Scientists at JAX Genomic Medicine are building collaborations among doctors, researchers and the biomedical industry to bring research findings into the clinical setting. Their goal is to discover precise genomic solutions to disease, improving care, lowering costs and increasing life span and health span.
The Laboratory has awarded bid packages totaling $108 million for the construction of the new facility. Of that figure, 87 percent – more than $94 million – has been awarded to companies headquartered or with regional offices in Connecticut. JAX has awarded nearly $30 million in contracts to small businesses and minority-owned companies.
Within 10 years, JAX Genomic Medicine will employ at least 300 people. Already, the number of employees has reached 46, including more than 30 principal investigators and scientific staff, all working in temporary space on the UConn Health Center campus. More than two dozen additional employment applications and contracts are in process. About 16 scientific and administrative positions have been filled by residents of Connecticut.
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For Immediate Release: September 4, 2013
Contact: Andrew Doba [email protected] 860-524-7308 (office)
860-770-8090 (cell)
Twitter: @GovMalloyOffice Facebook: Office of Governor Dannel P. Malloy
With the state lagging behind in job recovery, Connecticut officials
in the months following the 2008 recession weren't bullish on the
state's entrepreneurial prospects.
Urged by business groups like
the Connecticut Technology Council and Connecticut Innovations, which
needed only to look north or south to start-up hotbeds like Cambridge or
New York City, policymakers decided the state needed a new approach to
develop an innovation economy.
In the 2011 Jobs Bill, the
legislature set aside $5 million to fund a network of business
consultants, incubators and a pool of innovation vouchers, that is just
now starting to gain traction, although its effectiveness is yet to be
decided.
The "CTNext" experiment — the moniker that encompasses
the effort — focuses on fostering startups and somewhat further along
stage-two companies. It has given rise to state-subsidized incubators in
Hartford, Storrs, Stamford, Westport and New Haven.
A team of growth advisors tied to each location was hired to work with companies that seemed particularly promising.
The
centers can walk an entrepreneur through the application process for
vouchers — which can be used for prototyping, market research and
intellectual property services — that top out at $10,000.
That
network of providers has now worked with, in some capacity, more than
600 startups and granted $307,000 worth of vouchers, according to the
state Department of Economic and Community Development (DECD).
As
both providers and entrepreneurs tell it, CTNext has been a positive
step in building a start-up industry. But it's still difficult to assess
any return on investment for the public dollars funding it.
Some
have also raised concerns that the effort lacks a centralized focus.
Opening incubators across disparate parts of the state, critics warn,
separates entrepreneurs who should be sharing ideas.
Regardless,
CTNext has helped entrepreneurs like advertising executive Carissa
Ganelli, founder of software startup LightningBuy, which makes it
quicker and easier for consumers to make online purchases using their
mobile phones.
Through a chance encounter in Manhattan with Patty
Meagher, entrepreneur and founder of the Stamford Innovation Center,
Ganelli found CTNext.
LightningBuy, which launched its product in
February, is now housed at the Stamford center, paying a reduced rent of
$500 a month thanks to state money the center gets through a CTNext
provider contract. Five facilities around the state have similar
contracts.
Ganelli's company has also received some free legal and accounting services.
That's
all been vital to keeping LightningBuy's operations running lean. But
what's been most important, Ganelli says, is tapping into a pool of
knowledge about other state grants through DECD.
LightningBuy, for
example, was awarded $30,000 from the Connecticut Center for Advanced
Technologies, and later got another grant from DECD.
Ganelli said
Stamford center officials put in a good word for her at the state level,
which she believes led to her company getting an award.
"We were really lucky," she said. "It helped us pay bills, develop our alpha and refine our beta."
Ganelli
wouldn't disclose if her company is profitable, but she said the free
and discounted services she's gotten from CTNext has made her feel more
loyal to her home state. She says she'll likely stick around if, or
when, LightningBuy, with its six full-time employees, grows.
A growing network of connections
CTNext
hopes its website and any buzz it creates will help spread the word to
entrepreneurs like Ganelli about its services. Networking has been just
as vital.
Like Ganelli, Jason Maloney, co-founder of Fairfield
iPhone case maker diffr3nt, stumbled upon CTNext through a chance
encounter.
Last September, Maloney was waiting in line at an Apple
store to purchase the iPhone 5, which he and his business partner Mark
Donne needed as quickly as possible to build a prototype case that fit
its dimensions.
Maloney bumped into [Derek] Koch, CEO of Independent Software and a growth advisor in New Haven's CTNext network.
Koch
introduced the differ3nt founders to CTNext's programs and services,
including a CEO bootcamp, which helped sharpen the entrepreneur's
leadership and management skills.
Diffr3nt is also applying for an innovation voucher.
Maloney didn't disclose how many cases diffr3nt produces, but he said the company's sales are funding its operations.
He recently left his job at a major tech company to pursue diffr3nt's future full time.
"As
an entrepreneur in Connecticut, there are so many resources out there,"
Maloney said. "Instead of going to 27 different doors and asking for
help, CTNext is the one door I go to, and they know everyone behind
those 27 doors."
Serial entrepreneur sees value
Eric
Knight has been building companies for years. The UConn alum founded
Fairfield's UP Aerospace, which in 2007 launched Star Trek actor James
"Scotty" Doohan's ashes into space on a private rocket.
Knight is
now entrepreneur in chief of Innovation East, the CTNext region that
includes incubator space in Storrs and Groton, and is affiliated with
UConn. Knight and his team have worked with more than 100 companies so
far, he said.
For Knight, one of the most important things CTNext
has accomplished is creating a tighter network of entrepreneurs like
himself.
Getting better acquainted with people around the state
has helped Knight have a better sense of which combination of advisers
might be best to help entrepreneurs.
"This is a really remarkable team across Connecticut," he said.
And it's a fledgling team. In describing CTNext to a newcomer, Knight often calls it "a startup helping startups."
Matthew
Nemerson, president and CEO of the technology council, said the idea
all along was to try different things and go with what works.
He
said the tech council, Connecticut Innovations, and the innovation
centers have been comparing notes about results so far, and talking
about what seems to be most effective.
One thing that Knight said
is working better is his center's process for vetting voucher
recipients. A board of reviewers hears entrepreneur pitches at a monthly
gathering.
The board can grant a voucher on the spot if the pitch passes muster.
"We really hit our stride with the processing," Knight said.
Knight
said developing those types of standards is vital, especially as the
program approaches its second round of contracts. CI sent out a request
for proposals last month for service providers to represent the second
year of the CTNext program.
About $5 million is expected to be up for grabs.
Nemerson hopes the results will build on what's been done so far.
"We
need to maintain the statewide relationships that have been created,
build on the actual experiences of helping companies, and be very
analytical about what happened and why," he said.
DECD will have an open mind to proposals and ideas as the second round of RFPs roll in, said Commissioner Catherine Smith.
Smith said the number of companies formed, and the number that survive, will be key metrics to measure as the program continues.
"It
still feels like it's pretty fledgling," Smith said. "The first year
has barely moved the needle, but we're moving in the right direction."
Though
CTNext will receive another round of state funding in its second year
the idea in the long run is for the effort to sustain itself, Smith
said. That's something that has been communicated to the various players
involved in the effort.
"We have large companies that are interested in innovation and they can help participate," she said.
This article is a product of the Hartford Business Journal.
CTNext experiment casts entrepreneurial web across state
Connecticut is often accused of having tax rates that are too high and thus unfriendly to business. You'll hear this criticism from all kinds of sources- newscasters on tv, angry contributors to internet forums, and occasionally even Texas Governor Rick Perry as he strolls through the State trying to lure Connecticutians away from the Northeast.
But we work with hundreds of businesses in Connecticut, on a regular basis, and the outlook is not so grim and taxophobic in our community. Yes, the national economy is still in a period of recovery, and of course, everyone would prefer to have their taxes lowered, but Connecticut companies continue to thrive in the state and are as happy as ever to set up shop in the Constitution State.
The accounting firm Ernst & Young recently conducted a study in conjunction with the Council on State Taxation (COST) to take an objective look at the dense and dynamic world of state and local taxation across the United States. Their results confirm and quantify something we've long understood: Connecticut's infrastructure, benefits, and potential for profitability drastically lower the explicit tax rate to a substantially lower effective tax rate.
How low? Connecticut businesses pay the second lowest percentage of their gross state product back to the state in taxes. We rank behind only North Carolina, and by only a fraction of a percentage point.
This image, from the review's Total State and Local Business Taxes findings, shows the nation in terms of the total effective tax rate that businesses are charged on a state and local level. Connecticut is in the very lowest category.
The following is an editorial by UConn Ventures President R. Mark Van Allen from the Danbury News-Times.
Alexion Pharmaceuticals recent groundbreaking on a new $100
million headquarters is the centerpiece of New Haven's landmark
initiative to reconnect the city's neighborhoods. It is also a glimpse
at the process of achieving "overnight success" in the technology
transfer field -- in this case, a success story that began modestly two
decades ago.
We have an opportunity not only to reflect on Alexion's humble
formation, but to look ahead to companies that currently reside, or will
soon, in the portfolio of UConn Ventures-- now a pivotal player in
determining Connecticut's future research-driven entrepreneurial
standouts, grown from the labs of our state's flagship university.
Alexion began in New Haven's Science Park in 1992 in the shadow of Yale University.
It was little more than an idea of what might be achieved by scientific
discovery and an early commitment to guide and grow that potential.
Slowly at first, buffeted by setbacks, uncertainties and halting
progress, Alexion began to gain ground. They stuck with it. In time,
they outgrew their small New Haven space and moved to Cheshire, where
during the past decade, spurred by the discovery and development of
Solaris, they have spectacularly become among the world's most
innovative and successful biopharmaceutical companies.
History could repeat at any moment at UConn, as the university
redefines and revitalizes efforts to encourage entrepreneurial
discovery. More than anything, we need the collective patience to
sustain an effective pathway to commercialize scientific discovery and
stay the course. Such cutting-edge efforts rarely hit paydirt overnight,
but as Alexion demonstrates so dramatically, solid growth and new
ground can, overtime, be achieved.
UConn Ventures, aligned with the University's Office of Economic Development,
creates business start-ups by seeking out university-based research
innovations, guiding the development process, soliciting funding and
recruiting management. It is a subsidiary of the UConn Foundation.
Financial benefits achieved by the resulting start-up companies accrue
to the individuals whose research innovation is at the core of the
start-up, and UConn.
Just two months ago, the university named Alphachromics as the "Top
UConn Start-Up Company" at annual awards ceremonies attended by state
business, academic and government leaders, reflecting a revitalized
university-wide commitment to commercialization initiatives.
Alphachromics was formed in 2010 by UConn Ventures to commercialize the electrochromic innovations developed in the lab of Greg Solzing, professor of organic and polymer chemistry in the Department of Chemistry and the Institute of Materials Science. The technology changes the light transmittance properties of a substrate by the application of voltage and/or current.
The company's low-cost color-changing conductive polymers can be
applied to products as diverse as energy-efficient windows, tunable
eyewear (goggles and sunglasses) and high-performance switchable
fabrics. Alphachromics is currently working with development partners in
industries including eyewear and apparel to develop and adapt their
technology for use in a range of high-volume consumer, commercial and
military applications.
And just last month, LambdaVision
Inc., a bio-tech start-up launched by UConn Ventures, received a
pre-seed funding commitment of $110,000 from Connecticut Innovations.
LambdaVision is developing a high-resolution, protein-based retinal
implant intended to restore sight and improve the quality of life for
the millions of people who have been blinded by photoreceptor
degeneration in the outer retina -- specifically, individuals affected
by age-related macular degeneration and retinitis pigmentosa.
The company's core technology was developed by Robert Birge,
Ph.D., a UConn professor of biological and physical chemistry, who,
along with students in his lab, founded LambdaVision in 2009.
There are other examples in the UConn Ventures portfolio, at various
stages of development. Led by a distinguished and experienced Board of
Directors with significant industry background and entrepreneurial
expertise, the staff of UConn Ventures works closely with faculty to
evaluate their research. It is an exacting task, fraught with perils but
brimming with potential.
Working together, we navigate each stage of development, as UConn
Ventures provides structure, direction and momentum to the evolving
process in critical areas: developing the business model, aligning the
intellectual property assumptions, raising the necessary capital, and
recruiting key management personnel. Beyond start-up guidance, UConn
Ventures also provides back office support, in areas including
accounting, legal, tax, and human resources.
Every aspect matters, and integrating effectively and efficiently can be the difference between a near-miss and a solid start.
In accepting well-earned accolades, Mark Bertolami,
CEO of Alphachromics, observed that the company "hopes to establish a
performance track-record that rivals the UConn women's basketball team."
Just the day before, they had won their eighth national championship.
There was a time when such accomplishment was seen as remote at best,
more than likely impossible. As with Alexion, by staying the course,
investing wisely, and methodically putting in place the necessary
talent, admirable success has been achieved.
As UConn Ventures and the would-be entrepreneurial enterprises that
turn to it for direction respond in the years ahead, patience and
perseverance with our collaborative endeavors will similarly prove to be
virtues in the pursuit of realizing great possibilities.
Yesterday evening, Connecticut Energy Commissioner Daniel Etsy, along with other state officials at the EVConnecticut Expo in Middletown, announced an exciting plan to dramatically improve the state’s relationship with electric vehicles.
According to the announcement, $200,000 in state funds will be allocated to build new, convenient charging stations across the state to expand the extant network of public sites available to recharge an electric car.
For the time being, commercially available electric cars can typically travel around 150 miles per charge, which is, on average, about half that of a conventional gasoline engine.
State officials cite the current paucity of charging stations as a leading explanation for the relatively low number of electric vehicles in Connecticut, despite the substantial federal tax credits awarded for their purchasers.
Hopefully, the new initiative to grow the number of charging locations will encourage more residents to join the Department of Energy and Environmental Protection and the Department of Transportation in their endeavor to find a way to make our transportation needs more sustainable and environmentally friendly.
Currently, there are 81 charging stations in our 5,543 square mile state, but the new allotment expects to raise that number to 200 by the year’s end. To see the current layout of charging stations regionally, follow this link.
If you already own an EV, the state government is eager to make Connecticut a better place to drive one, and if you don’t, 2013 might be a perfect time to buy.
On June 25th, Governor
Malloy and DOT Commissioner announced Transform CT, an 18-month outreach
campaign that will culminate in the development of a strategic transportation
plan for the state. Residents and stakeholders will play a key role in
the development of the plan.
As of today the Transform CT
website has received over 8700 ideas. Please log on to the website, www.TransformCT.org, and express you
views. It is extremely important that decision makers are aware of your
support for increased and improved bus transit in Connecticut. Include
the importance of bus transit to get to work, school, medical appointments and
shopping. Also note the importance of timely bus/rail connections,
express bus service and dial-a-ride programs.
Two topics posted on the
website today are: “What transportation investments should we make today
that our children and grandchildren will thank us for tomorrow?” and “ What
transportation systems or elements of transportation systems do you admire in
other parts of the country that Connecticut could learn from to improve our
quality of life?” Bus transit needs to be up there along with roads
and rail. Bus transit is the backbone of Connecticut’s transportation
system and improving bus transit will improve the quality of lives for all
residents of the state.
Please add the importance of
adequately funding bus transit and the need for the state to use transportation
funds for transportation and to invest wisely in transit projects that will
generate economic benefits, reduce congestion, and provide much needed
transportation options.
While most people in college dorm rooms spend their time daydreaming about the weekend, Joshua Aferzon spent his time dreaming up plans for his first medical device company.
Orthozon Technologies L.L.C., founded by the 2011 University of Connecticut graduate, is quickly gaining momentum in the medical device field.
The company launched its first minimally invasive tool for spine surgeons in March and already the tool is being used in four Connecticut hospitals. In June Aferzon plans to position the tool in four additional states, and within his first year he expects to be running a more-than $1 million company with a developing portfolio of tools.
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As his company grows, Aferzon said it is important to him to be able to contribute to the state’s economy and hire more employees.
“I grew up here. So for me, this state is very close to heart,” he said, adding that he surveyed what other states had to offer and came away impressed with Connecticut’s business incentive packages. Aferzon has also been an active member of the Stamford entrepreneurship community, leasing a private suite at the Stamford Innovation Center.
“Other states didn’t show as much interest in me as Connecticut did,” he said. “It’s helped me out a lot. …It’s a wonderful opportunity to be here, growing. I’m happy to be here.”
The full text of the Fairfield County Business Journal article by Jennifer Bissel can be read here.
March 2013 - IT job postings rose by 1.9% in Connecticut in February - not exactly a first quarter flurry, but at least the trend is upward. Similarly, new Insurance sector opportunities were only slightly higher. Apparently, economic growth is still too slow to boost confidence in cautious employers. In contrast to last year, the Healthcare and Financial industries posted a healthier percentage of openings last month. And we are keeping an eye on those currently active startups in the state; will smaller innovators begin hiring?
For a breakdown of February's hiring activity by IT job category, read the full report.
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