NewHavenBIZ

n e w h a v e n b i z . c o m | A p r i l 2 0 2 2 | n e w h a v e n B I Z 3 F r o m T h e E d i t o r s Volume 5 • Number 3 • March 2022 New Haven Biz 900 Chapel Street, New Haven, CT 06510 (203)-937-2148 • www.newhavenbiz.com EDITOR Michelle Tuccitto Sullo MANAGING EDITOR Liese Klein CT CONTENT DIRECTOR Greg Bordonaro CONTRIBUTING WRITERS Chris Hoffman Frank Rizzo Matt Broderick Jean Falbo-Sosnovich Skyler Frazer DESIGN DIRECTOR Mitchell Hayes PRODUCTION DIRECTOR Kira Beaudoin PRESIDENT & PUBLISHER Tom Curtin CHIEF EXECUTIVE OFFICER Peter Stanton CHIEF FINANCIAL OFFICER/CHIEF OPERATING OFFICER Mary Rogers DIGITAL DIRECTOR Jan Holder AUDIENCE DEVELOPMENT DIRECTOR Valerie Clark NEW HAVEN BIZ (ISSN 2639-605X), is published twelve times annually, 900 Chapel St., 10th Floor, New Haven, CT 06510. Copyright 2018. All rights reserved. Subscriptions: Annual subscriptions are available for $29.95. To subscribe please email circulation@newhavenbiz.com or contact our circulation team at 203-937-2148 ext. 4 New Haven BIZ accepts no responsibility for unsolicited manuscripts or materials and in general does not return them to the sender. A division of: New Haven BIZ is a publication of New England Business Media, LLC. L aunching a successful business can be daunting and difficult for anyone, but minority business owners oen face a unique set of challenges. Lack of access to enough funding. Trouble finding mentors. ese are just a couple of the difficulties entrepreneurs encounter. It can mean the difference between a business' success or failure. In this issue, we spotlight several area organizations and programs focused on helping minority-owned businesses as they start and grow their ventures. We also examine the future of New Haven's Food Terminal, which will lose a major tenant when Long Wharf eatre leaves the property later this year. Our focus this month is on banking. In our Q&A feature, we chat with Bankwell Financial Group's President and CEO Christopher R. Gruseke about the growth opportunities he sees in the New Haven market and the bank's future outlook. Another story spotlights a proposal for Connecticut's newest bank, to be based in Norwalk, TNB USA Inc. e bank has been trying to get off the ground for years but has faced regulatory hurdles. If approved, TNB wouldn't be a traditional commercial bank. It would focus on managing money for institutional investors, from municipalities to universities. is month, we spotlight the city of Derby, which is working on an economic turnaround. An apartment complex, the biggest construction project in this small Valley city in years, will break ground in the coming months. Major transportation projects, including improvements to Route 34-Main Street and a new $25 million train station, could also help boost the city. Another story features the metaverse and the opportunities it presents for businesses. Get ready to enjoy yourself in a virtual restaurant with the convenience of home delivery. Experts say the metaverse will change life as we know it, and business opportunities are limited only by our imaginations. We hope you enjoy the issue. Please send us your comments and share your story ideas with us. n Michelle Tuccitto Sullo Editor Liese Klein Managing Editor Helping minority entrepreneurs succeed 4 | Around the Region 5 | By The Numbers 6 | Startups, Technology & Innovation 7 | Corner Office C o n t e n t s Michelle Tuccitto Sullo T H E L I S T S 24 | Largest in-state banks 25 | Largest out-of-state banks in Connecticut newhavenBIZ 18 | Arts & Business 26 | What's the Deal? 28 | C-Suite 30 | Biz Starts 6 | Innovation & Technology Yale grads' product aims to prevent post- alcohol misery. 7 | Corner Office Yale School of Management's entrepreneurship czar Jensen sees more growth in startups. 8 | Town Spotlight CT's smallest city, Derby, poised for renaissance amid new projects. 10 | Rise Of The Metaverse Immersive virtual, augmented realities offer the next frontier for businesses, consumers. 12 | Helping Hands Minority-owned business support network is growing, but entrepreneurs say more is needed. 16 | Shifting Landscape New Haven Food Terminal navigates future in changing Long Wharf district. 22 | Focus: Banking & Finance TNB seeks to become state's newest bank in face of Fed delays. F E A T U R E S D E P A R T M E N T S Liese Klein 6 12 22

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