Hartford Business Journal

92 Doing Business in Connecticut | 2015 By Phil Siuta, chief financial officer and acting chief executive officer of Connecticut Innovations I n terms of size, Connecticut is a small state, besting only Rhode Island and Delaware in square mileage. But rank us for innovation, and you'll see that tiny Connecticut is pretty mighty. Our state is home to the first color television, the first helicopter, and the first submarine. We invented the Frisbee, anesthesia and the artificial heart. e first public library was started here, and so was America's first trade association. In fact, innovation has been a hallmark of Connecticut for more than 200 years. And if Connecticut Innovations and our portfolio of start-ups have anything to do with it, our state will continue to play a significant role in changing the world's future for many more years to come. Connecticut Innovations' mission is to invest in the state's most promising technol- ogy start-ups. As such, we have a front-row seat at innovation in the state, and have seen first-hand how Connecticut companies are changing the world. Indeed, many of the start-ups we invested in over the course of our 30-year history have matured into glob- ally recognized leaders in sectors such as life sciences, energy, lasers, precision manufac- turing, sensor technologies and more. Emerging innovations to watch Choosing which companies to invest in is part science and part art, and it involves knowing which technologies have true potential to be in demand worldwide. Today, we continue to see exciting young companies in fields where Connecticut is strong, such as soware and information technology, biosci- ence, clean tech and advanced manufactur- ing. We're also seeing a great deal of promise from companies in emerging sectors such as digital media and wireless technology (also known as the "Internet of ings"). For the next big technology innovations coming out of Connecticut, you need look no further than our seed portfolio, which includes companies that have demonstrated growth and market need. Our portfolio contains companies that have developed incredible innovations such as soware that delivers live, high-quality 360-degree video; a bioresorbable scaffold designed to regener- ate knee ligament tissue post-ACL surgery; technology that increases the energy effi- ciency of utility plants; wireless technologies that allow people to, for example, run their home's electrical outlets and lights from their smart phone — or grill the perfect steak outside while monitoring it from their smart phone indoors — and much more. e start-ups in our pre-seed portfolio — those companies at the earliest stages of development — also show tremendous prom- ise. We're seeing what we believe will become game-changing innovations such as a diagnos- tic test for breast cancer that will enable doctors and patients to make personalized decisions about treatment, and a digital media platform that can help companies monetize digital me- dia consumption from so-called cord cutters. Recognizing our competitive advantage and success in bioscience, Connecticut has a new, $200 million fund, the Connecticut Bioscience Innovation Fund, dedicated to innovation in this area. Already, we're seeing amazing new technologies such as a tiny implantable heart valve designed for cardiac patients who cannot undergo traditional open-heart surgery — and a point-of-care molecular diagnostic test for tuberculosis, for use in developing countries, which can detect the disease without the use of a lab. Like the Frisbee, anesthesia, and the helicopter before them, amazing innovations that are enhancing or improving our lives are being developed right here in Connecticut. To read more about these and other exciting technologies, visit our website at www.ctinnovations.com/opportunities/all. ❑ Reinventing the Future Connecticut Innovations helps launch promising technology start-ups CREDIT/ CONNECTICUT INNOVATIONS ' Choosing which companies to invest in is part science and part art. ' — Phil Siuta, Connecticut Innovations Key business officials weigh in on what the next decade, and beyond, may hold for our state. S h a p i n g Connecticut's Future

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