Connecticut Innovations Invites Applications for Fall TechStartSM Accelerator Program
Entrepreneurial teams vie for funding to launch new technology ventures
Rocky Hill, Conn., June 27, 2012 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology-based innovation and economic development, today announced that it is now accepting applications from entrepreneurial teams interested in participating in the fall TechStartSM Accelerator Program. Applications will be accepted through August 15, 2012.
The $1 million TechStart initiative was made possible by funding provided to CI through the Jobs Bill that was passed last fall.
“We look forward to receiving applications from entrepreneurial teams that are seeking assistance in launching new technology ventures and to welcoming our second class of TechStart participants,” said Claire Leonardi, chief executive officer and executive director of CI. “Our first ‘graduating class’ of TechStart teams accomplished so much in such a short period of time and made valuable connections with prospective investors. These entrepreneurs are already achieving success through their diverse ventures – spanning information technology, e-commerce, energy efficiency and environmental businesses. The TechStart initiative was designed to complement the Malloy administration’s efforts to attract entrepreneurs and startups to Connecticut and create an environment where young companies can thrive.”
The first TechStart Accelerator Program, which ran in spring of 2012, was highly competitive, with over 80 applicants competing for nine spots. Entrepreneurial teams were provided $25,000 in initial capital through the TechStart Fund as well as focused mentoring through the three-month TechStart Accelerator Program, which concluded with the teams pitching their innovations to a room full of angel and venture capital investors. The teams were coached by mentors in areas including customer discovery and development, sales and marketing, technology development and legal matters to ensure they were prepared to introduce their ventures to prospective investors.
The upcoming three-month TechStart Accelerator Program will take place in New Haven from mid-September through mid-December 2012.
The full schedule for the fall TechStart Accelerator Program is noted below:
- Applications Open - June 15
- Early Application Deadline - August 1 (for additional consideration)
- Application Deadline - August 15 (5:00 p.m., no exceptions)
- Finalist Presentations - August 29
- Notification of Selection - Early September
- TechStart Accelerator Program Begins - September 17
- TechStart Accelerator Program Concludes/Teams Pitch to Investors – Mid-December
For more information about TechStart, visit www.ctinnovations.com/TechStart.
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.