Nationally Ranked No. 8

In the Country with 93.9 Patents Per 100,000 People

Source: U.S. Patent Office, State Science & Technology Institute, 2008.

Nationally Ranked No. 7

In the "State Technology & Science Index"

Source: The Milken Institute, State Technology and Science index, 2008.

CT Economic Development News

Natural Gas growth Lowers Costs; Improves...
Read More »

Rendering of Downtown Development

Yale Growth, Ultra-low Vacancy rates spur...
Read More »

$25 Million Starter Fund to Enhance world-class Manufacturing
Read More »

Connecticut's Central Coast is home to 2 business incubator programs that work to assist growing companies.

Connecticut's Central Coast is a center of innovation.

Helicopters, submarines, bicycles and sewing machines were invented in Connecticut and that entrepreneurial spirit continues in the state today.

Key Factors:

Yale University and Tech Transfer

In recent years Yale University has worked to move research into the commercial sector. The Yale Office of Cooperative Research (OCR) works with Yale researchers to identify inventions that may ultimately become commercial and consumer products and services. Yale OCR staff also engages in industrial partnerships to license Yale inventions.

In 2007 Yale bought the 136 acre former Bayer Healthcare Research Campus and renamed it West Campus. With 17 buildings and more than a million square feet of office and warehouse space Yale plans to use the campus as a collaborative, inter-disciplinary research center. Some of the early focuses will be on molecular and cellular biology and gene sequencing. Yale will also pursue partnerships with industry on nanotechnology and pharmaceutical research. Art and artifact restoration will also be done at the new campus.

Yale University also encourages students to follow their entrepreneurial ideas. Yale University established the Yale Entrepreneurial Institute (YEI) to help undergraduate and graduate Yale students start scalable new ventures. In addition to assistance and operating space, YEI offers several programs and forums that are open to both Yale students and the New Haven community. YEI works in conjunction with the Yale Entrepreneurial Society (YES), which is a student run organization, to help students learn about being successful entrepreneurs.

Venture Capital & Funding

Since 2006 more than $733 million in venture capital has been invested in Connecticut firms according to the PricewaterhouseCoopers Money Tree Report. With the highest per capita income rate in the nation, Connecticut has a great deal of available capital including active venture capital firms like Oak Investment Partners, Canaan Partners and CHL Medical Partners. Combined with a quasi-state venture organization, Connecticut Innovations, and venture and angel investor organizations companies in Connecticut have a clear path to access the capital they need.

Connecticut Innovations (CI) — A quasi-state organization that provides strategic capital and operational insight to assist emerging high-tech companies. CI has helped over 100 companies research, develop, and market new products and services. This activity has attracted over $1 billion dollars in additional investments from private equity providers. Since 1995, returns from CI investments - not state money - have supported operations and new, forward-thinking funding programs.

The Connecticut Venture Group (CVG) — A voluntary professional organization that connects leading venture investment professionals with high-growth emerging companies. Through chapters in Hartford, New Haven and Stamford, the organization produces technology-focused seminars and expositions, updates on financing and market trends, university tech transfer conferences, and the annual Crossroads Venture Fair.

The Angel Investor Forum (AIF) — An organization located in Connecticut comprised of sophisticated, accredited investors, who are former CEOs, VCs, serial entrepreneurs, and active private equity investors. AIF is not a fund. Investment members collaborate on due diligence, but make individual investment decisions under common valuation and terms. Connecticut has more angel investors per capita than any other state.

Incubators

Connecticut's Central Coast is home to 2 business incubator programs that work to assist growing companies. The Bridgeport Trade & Technology Center has been in operation for more than 15 years with more than 60 companies having called the Center home. CTech is a new business accelerator in New Haven focusing on technology start-ups. Founded with money from Connecticut Innovations, Yale University and The United Illuminating Company, CTech is located in Yale's Science Park giving its tenants great access to area resources.

Venture Firms Located in Connecticut:
  • Axiom Venture Partners (Hartford)
  • Canaan Partners (Westport)
  • CCP Equity Partners (Hartford)
  • CHL Medical Partners (Stamford)
  • Elm Street Ventures (New Haven)
  • Oak Investment Partners (Westport)
  • Sachem Ventures (New Haven)
  • Scheer & Company, Inc. (Branford)
  • Thomas, McNerney & Partners LLC (Stamford)

Info Links:

Website by: 505 Creative Services, Guilford CT  |  www.505Creative.com  For Info & Assistance Please Call: (203) 499-3977
© 2017 The United Illuminating Co., All Rights Reserved.