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CI news • Posted on: Mar 1, 2017

Connecticut’s $5 Million Global Venture Challenge Opens Applications to Early-Stage Companies

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VentureClash 2017 focuses on attracting Internet of Things, Digital Health, FinTech and InsureTech companies

ROCKY HILL, Conn., March 1, 2017Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced the launch of the first-round application period for VentureClash. VentureClash is Connecticut’s $5 million global investment challenge for early-stage digital health, financial technology, Internet of Things and insurance technology companies.  

“This year, we added two more industries that are rapidly growing and have the customers, investors and infrastructure in Connecticut to help companies thrive,” said Matt McCooe, CEO of Connecticut Innovations. “In our second year of operation, VentureClash will offer additional partners that can provide valuable insight and business opportunities for our companies.”

Awards
The top award for the challenge will be a $1.5 million investment. There will be two second-place winners that will receive a $1 million investment, and up to three runners-up will each receive a $500,000 investment.

Application
The VentureClash challenge launches the first-round application on March 1, 2017. Companies will have until June 9, 2017, to submit the first-round application. After two rounds of judging, approximately 10 companies will be invited to Yale University on Friday, October 20, 2017, to compete in person for investment awards. An outside panel of judges will help to determine the winning companies of VentureClash 2017.

Eligibility
To be eligible to apply, a company must:

-        Have been in business for at least 12 months

-        Have paying customers or customers who are actively testing the applicant’s product

-        Be willing to establish a Connecticut presence, which applies to domestic and international applicants

-        Be focused in digital health, financial technology (FinTech), insurance technology (InsureTech) or Internet of Things (IoT)

For more information on qualifications, requirements, guidelines and application, visit www.ventureclash.com.

About VentureClash
Managed by Connecticut Innovations, VentureClash is Connecticut’s global venture challenge focused on early-stage companies. The challenge, launched in 2016, identifies high-potential companies in digital health, IoT, InsureTech and FinTech that will compete for investments from a $5 million award pool. For more information, visit www.ventureclash.com.  

About Connecticut Innovations
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. CI provides venture capital and strategic support for early-stage technology companies; financial support for innovation and collaboration; and connections to its well-established network of partners and professionals. For more information, please visit www.ctinnovations.com.