Executive Vice President and Chief Investment Officer
Most entrepreneurs are loath to give up equity—anyone who has ever watched Shark Tank knows that. And it makes sense. After all, it’s your breakthrough idea, your money (and sometimes your family’s and friends’ money), your sleepless nights and your hard work. When you’re pouring all that into a venture, you should be the one to call the shots and reap the spoils. It stands to reason that the more equity you take—in other words, the more ownership you give away—the less control you have over your business. And of course, you stand to make less money upon exiting, right? Continue reading
Today we announced that Connecticut Innovations’ board approved a plan to deploy $250 million over the next five years. The $50 million per year that CI will deploy over this period consists of $25 million per year from the State of Connecticut, along with a matching $25 million per year from CI itself, contingent on CI investment returns.
The new funding will enable CI to strengthen its support of Connecticut’s entrepreneurs and emerging high-tech businesses. Specifically, the funding will enable CI to expand existing initiatives, create new programs and step up efforts to recruit businesses to the state – actions that will ultimately generate high paying jobs, bolster our technology-based economy and accelerate Connecticut’s recovery from the current economic slump.
We are very excited to begin deploying these funds. We expect that over the next five years our activities will help create and retain 15,000 jobs, leverage more than $500 million in private funds, increase federal SBIR awards and Phase III commercialization funding for Connecticut companies by $60 million, sustain at least 200 new technology companies and fuel a culture of innovation in Connecticut.
To learn more about this deployment plan, please review our press release.
President and Executive Director