Connecticut innovations

Connecticut innovations - News

Renaissance unveils new IPO index - Stamford Advocate

Stamford Advocate, CT - Apr 15, 2009

Renaissance unveils new IPO indexManeesh Sagar, managing director for investments at Connecticut Innovations, said the historic path start-up companies follow in Connecticut generally doesn't lead to Wall Street. He added the trend right now is leading away from the IPO market.

Two decades of innovation funding applauded - Bristol Press

Bristol Press, United States - Apr 08, 2009

Two decades of innovation funding applaudedBy RALPH HOHMAN SOUTHINGTON — Technological innovation in everything from glucose monitoring to business forms to automotive braking systems was on display Tuesday at the Aqua Turf Club. All of it symbolized the goals of Connecticut Innovations, Small-Biz Innovations Office on Move

NE governors talk tech policy and promotion - Mass High Tech

Mass High Tech, USA - Apr 10, 2009

Mass High TechNE governors talk tech policy and promotionConnecticut Innovations, founded by the Connecticut Legislature in 1989, makes investments in startup tech companies using state venture capital. • State’s partnership with Yale University provides low-cost lab space rentals for local bioscience Smaller tech tales from around New England

Connecticut officials target stimulus funds - Mass High Tech

Mass High Tech, USA - Apr 09, 2009

Connecticut officials target stimulus fundsConnecticut is scheduled to receive $3 billion in stimulus funds. The energy event and a forum on entrepreneurship were part of Connecticut Innovations’ annual technology event. In a keynote address, Gov. M. Jodi Rell said, “Our state is in the midst Governor Rell honors Norwalk software company State Agency Honors Local Company

Connecticut Technology Council President Matthew Nemerson Elected ... - Business Wire (press release)

Business Wire (press release), CA - Apr 14, 2009

Connecticut Technology Council President Matthew Nemerson Elected CTC is an advocate for the role of innovation, tech transfer and ample early stage capital in the state. In conjunction with the State of Connecticut and an angel investor network the Council helps hundreds of start-up firms through its Innovation

Renaissance unveils new IPO index - Stamford Advocate

15.04.09

Greenwich-based Renaissance Capital has partnered with FTSE Group, which is the Financial Times' and London Stock Exchange's index operation, to create an IPO index as the market for initial public offerings appears to be thawing after a deep freeze.

Kathleen Smith, chairwoman of Renaissance Capital, said the IPO market, in which private companies offer shares to the public, was effectively shut down for the last six months of last year. There have been only four IPOs filed during the first quarter of this year, compared with 73 in the same period of 2008.

Only two IPOs have been priced so far this year, compared with 43 during the same period last year. And the comparisons grow further apart when numbers for 2007 are brought into the equation. For the first three months of this year, only one IPO was priced while 59 were priced in the same period in 2007.

It's not that the past several years have exhausted the number of companies ready to take the step into the public arena, Smith said.

Source: Stamford Advocate, CT

Yale MBA Students Schooled in the Art of Venture Capital

David Lipowicz
MBA Student, Yale School of Management

For many MBA students, working in venture capital is the ultimate dream job. You work alongside talented entrepreneurs to launch innovative new companies. You help develop cutting-edge technologies that save lives (biotech), improve global communications (tech and telecom), and power the economy while reducing carbon emissions (cleantech). You send the next Googles of the world off to windfall IPOs while getting immensely rich along the way. This is capitalism in its purest, most exciting form, right?

Well, as I learned during a recent visit to Connecticut Innovations, the reality is that VC is an extremely competitive and sophisticated business where long-term, successful VCs are heavily outnumbered by those who fail. So it’s a great testament to the investing and operational skill of the team at CI that they recently celebrated their 20 year anniversary.

I help run a club at the Yale School of Management for MBA students interested in entrepreneurship and venture capital. Last week, 20 of my classmates and I met with CI to learn more about their work. We were hosted by three members of the deal team–Maneesh Sagar, Matt Smith, and Patrick O’Neill. They cover investments in areas including the life sciences, software, telecom, and cleantech, and they bring decades of experience managing companies in these industries to the table.

For you entrepreneurs out there, we discussed in-depth what makes for an attractive funding opportunity. In short, VCs are looking for businesses that have disruptive answers to big problems. Also, a great management team really helps, though deciding what constitutes a “great management team” is more of an art than a science.

While being a good presenter can help you get funded, smart VCs will spot deficiencies in your business plan no matter how polished you are. One CI deal team member told us about a pitch meeting he attended where the entrepreneur gave a terrific presentation, but some back-of-the envelope calculations revealed that the physics underlying his technology couldn’t possibly work.