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2015 | Doing Business in Connecticut 101 Quick Links Angel Investor Tax Credit Program www.ctinnovations.com/ angels Business Support www.ctinnovations.com/ entrepreneurs Small Business Innovation Team www.ctinnovations.com/sbi CTNext www.ctnext.com Connecticut Bioscience Innovation Fund www.bioinnovationct.com IRBs and Specialty Finance www.ctinnovations.com/irb SPONSORED PROFILE is comprised of two funds, is to help scientists and entrepreneurs speed their health care innovations toward commercialization. Through the funds—the $200 million Connecticut Bioscience Innovation Fund and the Regenerative Medicine Research Fund, which has allocated nearly $100 million toward stem cell research to date—we offer a select group of the world's most innovative sci- entists and entrepreneurs the financial and strategic support they need to move their idea from lab to life. Filling the gap dur- ing the critical "Valley of Death," the early stages where capital is so hard to come by, these funds not only help keep companies and innovations here in our state, but will help to improve human health worldwide. Small Business Innovation CI's SBI group supports innovation, promotes col- laboration and fosters an entrepreneurial environ- ment in Connecticut. One of the primary ways this group assists Connecticut companies is by helping them obtain a share of the billions of dollars the federal government has earmarked for small busi- ness research through the federal Small Business Inno- vation and Research (SBIR) program. Specifically, we offer grant and strategic support at three different phases as a business ad- vances through the federal program. Last year, CI's SBIR program awarded $970,000 in grants to 15 companies, leveraging approximately $24 million from the fed- eral government. This group also devel- oped Technology Talent Bridge, a grant program for companies looking to hire interns. The popular pro- gram, which offers compa- nies up to $25,000 to offset the cost of hiring an intern, has been held up as a best practice in other states. CTNext Created as an initiative of Governor Dannel P. Malloy, CTNext is Con- necticut's innovation ecosystem, a public-private partnership and network of mentors, coaches, entrepreneurs and ser- vice providers that equips startups and entrepreneurs with resources, guidance and networks to acceler- ate their growth. The ecosystem seeks to build a more robust community of entrepreneurs, and to provide access to talent, space, industry expertise, services, skill development, capital, and more. To date, more than 600 young companies have received help. The network's signa- ture event, the Entrepre- neur Innovation Awards, or EIAs, a Shark Tank-style pitching competition held four times a year through- out the state, has awarded more than $216,000 in grants to help these start- ups further their business. For more information about Connecticut Innovations, you can reach CI by calling 888-337-5454 or by visiting www.ctinnovations.com. ZetrOZ, based in Trumbull, has invented "sam," the first and only FDA-approved wearable device to use ultrasound therapy to control pain for up to four hours. Photo credit: ZetrOZ LLC