Hartford Business Journal

8 Hartford Business Journal • July 4, 2016 www.HartfordBusiness.com Latest incubator creates CT's 'bioscience triangle' By Matthew Broderick Special to the Hartford Business Journal L ike the CEO of any startup, Wendy Davis under- stands the challenges of taking a fledgling compa- ny and trying to grow it. That's perhaps doubly true in the bioscience industry where access to affordable lab space and equipment are often essential to success. "Science-based [startups] have unique needs," said Davis, whose company is working to commercialize a diagnostic for preeclampsia, a potentially life threatening complication of pregnancy. "They need an environment so they don't get bogged down in day-to-day support infra- structure [concerns] that can detract from accomplishing significant milestones." Davis, it seems, has found her company's home: Gro- ton-based CURE Innovation Commons, Connecticut's lat- est bio-tech incubation lab designed to attract startups to and from within the state. The newest site — a $4.1 million, 22,000-square-foot facility — features 12 private and shared laboratories, 18 private and shared office suites, conference rooms, event space and office hours with mentor and industry experts. The state's latest innovation lab joins similar incubation centers in Hartford/Farmington and New Haven creating a bioscience triangle across the state, according to Ste- phen MacKenzie, executive director of the Southeastern Connecticut Economic Development Group, which sup- ported the build out and promotion of CURE Commons. "Bioscience is one of the largest industry clusters in southeastern Connecticut," MacKenzie said. "We expect this facility will help us attract back some of the scien- tists and entrepreneurs who may have left during previ- ous economic downturns." According to state employment figures, from 2007 to 2012, the state's bioscience sector declined by 13 percent, while the national drop in the industry was about a half-percent. But that decline has been steadily reversing itself. In fact, the U.S. Bureau of Labor Statis- tics shows the sector now employs more than 24,000 workers in Connecticut, which ranks fourth nationally for bioscience patents per 1,000 people. Gov. Dannel P. Malloy this year said the industry employs 50,000. With more than 80 percent of the state's R&D dol- lars — and more than 54 percent of venture capital — invested in bioscience, those numbers are expected to grow. For Susan Froshauer, CEO of CURE, a 24-year-old bioscience industry booster that oversees CURE Com- mons, that's good news. "The purpose [of this incubation facility] is to create jobs and cultivate talent," she said. And Connecticut is talent-rich when it comes to science-based jobs, ranking fifth nationally in the number of science and engineering doctorates in the workforce, according to a 2014 report from the National Science Foundation. In southeastern Connecticut, much of that talent comes from pharmaceutical giant Pfizer, which has not only been a strong supporter of the CURE Commons project, but donated the building — renovations were funded by the Department of Economic and Community Development — to make it a reality. "Pfizer recognized there was a need for really talented former employees to have a place to convene and have access to lab space for building out ideas," Froshauer said. But the value of CURE Commons is about more Q&A CT launches Entrepreneur Learner's Permit A new state law was signed recently creating an Entrepreneur Learner's Permit. This week's Q&A talks with Glendowlyn Thames, director of Small Business Innovation and CTNext at Connecticut Innovations, about the program. She oversees programs that sup- port the state's small businesses and encourage innovation, col- laboration and commercialization. Q: The governor recently signed into law the Entrepreneur Learn- er's Permit pilot program. What is its purpose and what was its inspiration? A: The purpose of the Entrepreneur Learner's Permit pro- gram is to encourage entrepreneurship and job growth in our state. The new program pro- vides up to $1,500 in reimbursements for state licensing and per- mitting costs to first- time entrepreneurs in the information ser- vices, biotechnology and green technology industries. Q: The bill has an effective date of July 1. When do you think it will be up and running? What will some of the conditions be for eligibility? A: The Entrepreneur Learn- er's Permit program will be up and running in July. We'd like to get it off the ground as soon as possible so entrepreneurs can take advantage of the benefit. The program allows owners and executives of qualifying small businesses to waive any state or municipal filing, licens- ing or permitting, and the fees associated with starting a new company. We are currently work- ing through the application and criteria, which will be available on our site in July. Q: How much of a factor do fees play in discourag- ing businesses from starting in Connecticut? Are they so high as to be a deterrent to entrepreneurs? A: Starting and running a busi- ness in its earliest stages can be a massive undertaking, no matter the location. This benefit does more than cover fees — it is another step the state has taken to help create a more active ecosystem and assist entrepreneurs when they need it most. Entrepreneurs scrutinize every cost, so while the fees may not deter a company from coming to Connecticut, removing those fees can certainly serve as a benefit. Q: It's obviously a difficult fiscal time for the state. How can Connecticut afford to wave up to $500,000 in fees? A: It is a challenging fiscal time for the state, which is why it's important we focus on investing in the areas that can have a posi- tive impact on the state economy. With the recent pas- sage of [a bill that beefs up CTNext — the state's innovation ecosystem], there has been an inten- sive effort to improve the environment for entrepreneurs in Con- necticut. The process of waiving these fees may help to alleviate the initial burden an entrepreneur encoun- ters when starting out. Q: At this point how would you rate the environment in Connecticut for being an entrepre- neur? What's been done to make the state more attractive? What might the state stop doing? A: The creation of CTNext in 2011 through the Jobs Bill has sig- nificantly improved the environ- ment for entrepreneurs. Today, CTNext offers entrepreneurs opportunities to network, receive guidance from experienced entre- preneurs and compete for micro grants to assist with prototyping, performance testing, compliance testing, product or service devel- opment, market research and licensing, to name a few. In addition to the financing companies receive through Con- necticut Innovations, they can also access talent through the Technol- ogy Talent Bridge Internship pro- gram; receive guidance from exec- utives in residence who specialize in operations, marketing, commu- nications finance and government; and access subject-matter experts and investor networks. And the most recent legisla- tion does even more to support the entrepreneurial environ- ment. It formalizes the structure of CTNext and creates a separate governing board; it adds resourc- es and expands programming for CTNext, which will continue its support of the entrepreneurs in our state to have an even greater impact; and it brings the concept of "innovation places" to life, which supports the theory that innovation occurs in geographic locations that are physically GLENDOWLYN THAMES Director of Small Business Innovation and CTNext, Connecticut Innovations Susan Froshauer, CEO, CURE Continued Continued CURE Innovation Commons in Groton is the latest bioscience incubator space to open in Connecticut. The 22,000-square-foot facility, formerly owned by Pfizer, includes 18 private and shared office suites, 12 laboratories, two conference rooms and a 100-person event space. FOCUS BIOSCIENCE P H O T O | C O N T R I B U T E D

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