4 Hartford Business Journal•January5,2015 www.HartfordBusiness.com
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successful, said Susan Froshauer, president and
CEO of CURE, the state's bioscience trade group.
"When I started my biotech company
years ago, there was no place to put it,"
said Froshauer, who co-founded New Hav-
en's Rib-X Pharmaceuticals. "By building
these workspaces and incubators, we are
addressing the critical lack of entrepre-
neurs, of startups, and of places for them to
bump into each other."
The new incubation space being added
at UConn is designed to have more commu-
nity spaces, so TIP scientists and research-
ers can share ideas and help solve problems,
Zangari said.
"Scientists like to interact, but some-
times it is hard to get them out of their labs,"
Zangari said.
Of the companies that enter TIP, roughly
two-thirds are successful in that they gradu-
ate onto bigger things, Parker said. They either
start making too much
money to need the
incubator, need more
space than UConn can
accommodate, or get
purchased by a larger
organization.
Even after they
graduate, TIP will
work with compa-
nies by helping them
with local permitting so they can build labs
of their own, providing research assistance,
supporting grant applications, and mapping
roads to regulatory approvals.
"The relationship doesn't end the day they
leave here," Parker said.
Even for companies that don't graduate,
TIP doesn't view their time in the program as a
failure, Zangari said. The incubator provided
support for them to research their ideas and
ultimately find out they weren't practical or
financially viable, leaving room for the entre-
preneurs to move onto more viable ideas.
"The incubator allows entrepreneurs to
fail at a lot less cost," Zangari said. "They
didn't spend a lot of money finding out that
their idea didn't work.
"Instead of starting a business home alone
in your basement or garage, we have people
here to support you," she said. n
Incubator
Paul Parker, director of UConn TIP, shows the office space that incubator companies can
rent in the Cell & Genome Sciences Building in Farmington.
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Be a Part of Doing Business
in Connecticut in 2015.
A Publication Of:
P u b l i s h i n g J u n e , 2 0 1 5 | i n P r i n t a n d O n l i n e
Economic Vitality, Workforce Development,
Research and Innovation for Connecticut.
For more information contact
Donna Collins, Associate Publisher
at 860-236-9998 ext. 121.
Or dcollins@HartfordBusiness.com
Publication Date: June, 2015
Reservation Deadline: April 30, 2015
Doing Business in Connecticut
will examine the many
advantages Connecticut offers
companies to grow their
operations in the state and
highlight why Connecticut is
in a prime position to attract
new business. Doing Business
in Connecticut is designed to
provide government officials,
presidents, CEOs, owners, and
top level executives an overview
of resources.
See the full digital edition at
www.DoingBusinessinCT.com
