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Connecticut Innovations establishes $4 million fund to help startup tech firms

from New Haven Register via McClatchy-Tribune

A new $4 million fund has been established to support the formation of very early-stage technology companies and jobs, Connecticut Innovations announced. Called the Connecticut Innovations Pre-Seed Fund, the pool of general obligation bonds can be used by start-up tech companies to cover expenses such as accounting and legal, intellectual property development, prototype development, business plan assistance and development, technology reviews, assessment or development, market analysis, market entry strategy development or hiring resources, consultants or employees. Connecticut Innovations is the state's quasi-public authority that administers technology investing and innovation development. Connecticut Innovations has a portfolio of about 50 active companies, valued at about $42 million. The number of businesses in the portfolio has grown over the past year, but the value remained flat, Longo said. The authority invests in early-stage, state-based tech companies, university/industry research collaborations, technology transfer and clean energy initiatives through the Connecticut Clean Energy Fund. more

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