70 Doing Business in Connecticut | 2016
Connecticut Innovations Keeps Offerings
Fresh for the Startups It Supports
C
onnecticut Innova-
tions (CI), the state
of Connecticut's
venture capital in-
vestment arm, offers financ-
ing and strategic support to
early-stage, high-tech start-
ups in Connecticut, as well
as to promising startups that
are willing to move here. In-
dustry powerhouses Alexion,
Cara Therapeutics and Cura-
gen (now Celldex) are among
the 20-year-old agency's
success stories, and CI is
hoping that up-and-coming
companies like Arccos Golf,
etouches and New Haven
Pharmaceuticals are not far
behind. Like the companies
it supports, CI knows that
you have to keep innovating
to stay relevant. Under new
CEO Matthew McCooe, the
Rocky Hill–based quasi-agen-
cy has recently embraced
venture debt, expanded its
physical presence, diversified
the partners it supports and
introduced a new $5 million
global venture challenge.
Read on to learn more about
these exciting new initiatives.
$5 Million Venture
Challenge
Looking to fund and
help grow the best compa-
nies, not only in Connecticut,
but in the world, McCooe
and his team created Ventu-
reClash, a $5 million venture
competition open to early-
stage companies across the
globe. The competition's
final, live pitch event will
take place at Yale University
in October. It is open to start-
SPONSORED PROFILE
Comradity offers a
collaborative workspace for the
creative community. CI currently
uses this location as a satellite
office in Stamford, Conn.
