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BELIEVE IN UNICORNS
Achieving unicorn status is what every founder and investor dreams
of. Yet, it's extremely rare. Some 57 startups joined the unicorn club
in 2017, which was down from the peak two years ago, but two of
those companies are based in Connecticut.
Datto, of Norwalk, was acquired in late 2017 after hitting a billion-
dollar valuation, and New Haven's Biohaven consistently trades near
a $1 billion market cap following its IPO last year.
Success stories like these are attracting new attention to our state,
with more investors and founders considering locating here.
QUALITY OF LIFE MATTERS
It might sound simple, but being a nice place to live matters, and
in this area Connecticut shines. The state offers easy access to
several major cities at a fraction of the cost, a waterfront lifestyle and
downtown areas that are bustling with activity.
The math is easy: New York City home prices average over $1,500
per square foot. But 45 minutes away in Stamford, that price drops
to less than $270 a square foot. Startups can spend less and
employees can enjoy a higher outdoor quality of life in Connecticut.
IT TAKES AN ECOSYSTEM
We've come a long way, but there's still plenty of work to do in
Connecticut's startup scene. Connecticut will continue to need the
guidance and support of all of its leaders, in all spaces, to ensure
the state remains an affordable, attractive destination for technology
innovators.
Will that bring the Hartford Whalers back?
We're still working on it.
Entering its third year, VentureClash,
Connecticut's $5 million global venture
challenge managed by Connecticut
Innovations, is at it again with a focus
on early-stage financial technology,
insurance technology, digital health
and Internet of Things companies. This
year, VentureClash has teamed up with
corporate partners like Fortune 500
Stanley Black & Decker to scan the globe
for companies focused on smart factory
and security solutions. Finalists will meet
back up again on Thursday, October 18,
2018, at the Yale School of Management.
Learn more at
www.ventureclash.com.
2018 | DOING BUSINESS IN CONNECTICUT | 113
COMPANY
PROFILE
