“The awards dinner officially kicks-off the reinvigorated Women of Innovation® Program for 2017,” said Bruce Carlson, President and CEO of the Connecticut Technology Council. “We have a growing network of over 600 women that we have honored over the past thirteen years that the CTC is committed to cultivating to promote a diverse and inclusive tech talent pipeline for Connecticut.”
Danbury: FuelCell Energy Inc. [Nasdaq: FCEL] stock went on a world wind trip this week losing 10% of it value on a single day May 2. The stock closed at $1.08 as 2.81 million shares changed hands, nearly twice the daily average.
A day later the company added $15.4 million to its coffers with a public underwriting.
The past year has been difficult for Fuel Cell Energy, its large Korean Partner POSCO ENERGY is retrenching and Fuel Cell will be picking up the load of marketing in Asia.
At home New England power producers didn’t agree to a power purchase agreement for the company’s planned construction of the largest Fuel Cell Plant in the country to be built in Beacon Falls.
Milford: Northeast Fisheries Science Center's Milford Laboratory has developed a “Man Overboard” rescue Device. The device is the invention of Robert Alix, captain of the Lab’s 49-foot research vessel Victor Loosanoff, and Werner Schreiner, a former deck hand on the boat, developed the Man Overboard Recovery device, or MOB, and a U.S. patent is pending. The rights belong to the National Oceanic and Atmospheric Administration (NOAA), the parent organization of NOAA Fisheries.
“We thought it would be useful and could save lives, especially on small boats that usually have a small crew,” said Alix, who came up with the idea with Werner about five years ago during safety training in local waters. “It is hard enough to get a person who is conscious and cooperative into a boat with high freeboard, but much harder if the person is unconscious and cannot help in their own rescue.”
Fifty State Tech Reports Present Connecticut Data
CONNTACT.com Compiled Comparisons With Our State Neighbors Below
The state of Connecticut and many of its companies and institutions have spent the last two decades trying to build out the technology infrastructure of companies and jobs.
A new annual study of tech employment in all fifty states presents a detailed look at employment in the state’s technology industry and within non-tech companies as well.
The report’s data is compiled and reported by CompTIA, based in Downers Grove, IL. CompTia is a member based non-profit organization and bills itself as “the world's leading tech association, is a thought leader and an action leader.” Among the services of the association are standards development, communities of professionals, industry advocacy and IT certification programs.
A Global Healthcare Giant Engineers and Builds New In Connecticut
By Mitchell Young
NORTH HAVEN: Leon Hirsch was hoping to get his entrepreneurial dreams flying in 1963 in the helicopter parts business, when he came across a device described as a “surgical stapler” in a meeting at a patent broker.
The device seemed poorly designed to Hirsch, but he quickly understood its utility in providing a surgeon an alternative to sutures and “needle and thread” stitching.
Soon Hirsch had outfitted a prototype in his basement, and in 1964, he started the fledgling United States Surgical Corporation with four employees.
Hirsch’s early innovation helped to change how surgeries were performed, and his company, would become one of Connecticut’s most successful "start-ups” ever.
More than four decades later the “company” has stitched together its accumulated knowledge of Minimally Invasive Surgery MIS, [entering the body cavity through small incisions or even existing orifices], with advanced engineering, electronics and manufacturing techniques.
Today’s innovation is an entirely new device with the introduction of a new generation of surgical stapler – The Signia (TM) Stapling System, built by the successor company Medtronic.
HARTFORD: Fifty women from across Connecticut were honored for their innovation and leadership during the thirteenth annual Connecticut Technology Council Women of Innovation®Awards Ceremony on March 29th at the Aqua Turf Club in Southington. The awards program recognized women innovators, role models and leaders in science and technology professions, including outstanding young women at the high school and collegiate level pursuing technology studies. Of these 50 women, nine were recognized as winners in their respective categories.
STAMFORD: Revolution Lighting Technologies, Inc. [Nasdaq:RVLT] was recognized as Connecticut’s fastest growing technology company by the Connecticut Technology Council in 2016. On March 9th, the company reported fourth quarter 2016 revenues and sales growth has continued, but not at its once torrid pace. Revenues were $51.2 million for Q4 2016, an increase of 15% over Q4 2015, with a gross margin of 34% with Adjusted EBITDA [Earnings before interest, taxes and deductions] of $5.2 million.
Net income for the company's foruth quarter was $1.6 million or $0.08 per share. Annually revenues of $172 million were a 33% increase over 2015 for the year, with a loss of $500,000. The company has a current market value of approximately $120 million.
Robert V. LaPenta, Chairman, CEO, was happy with the performance saying, "we are pleased to deliver a successful fourth quarter and full year 2016 operating and financial performance, and believe the Company continues to outperform the overall growth of the LED lamp and luminaire industry.”
|Core Informatics CEO: Gabelle wants to "accelerate the digital lab."
BRANFORD: Core Informatics one of Connecticut’s fastest growing technology companies has been purchased by Thermo Fisher Scientific Inc., [NYSE THMO] a diversified global technology and science company with more than 55,000 employees and $18 billion in sales.
Core Informatics founded in 2006, the company was listed by Deloitte at 469 on its 2016 Tech Fast 500 list among US companies for its 130 percent cent growth rate. Core informatics provides “laboratory data management solutions to biopharma, genomics, and other scientific organizations.”
For nearly its first decade the company “bootstrapped” growth, in 2014 the management team put their foot on the accelerator raising $ 5 million to fuel growth, a year later it raised another $17 million, its then 65 employees swelled to the current 100.
ROCKY HILL: The fourth quarter of 2016 brought a great stash of new cash to 31 companies across Connecticut and beyond, from Ridgefield to Tolland.
Connecticut Innovations Inc., [CII] the quasi public venture capital fund, placed 12.2 million on Connecticut’s tech table.
The companies were as diverse as Kleo Pharmaceuticals [previous coverage] , a New Haven based bioscience company developing the research from David Spiegel’s lab at of Yale University. The company is developing what the company says is an entirely new class of immunotherapy drugs by “developing small molecules that emulate biologics.”
NORWALK: etouches is a global provider of cloud event management software and one of Connecticut’s fastest growing companies. Ranked 461 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America it grew 132 percent during this period.
Founded in 2008, etouches says it has assisted more than 25,000 event professionals in “planning, executing and measuring their events,”
VentureClash 2017 focuses on attracting Internet of Things, Digital Health, FinTech and InsureTech companies
ROCKY HILL: Connecticut Innovations (CI), announced the launch of the first-round application period for VentureClash. VentureClash is Connecticut’s $5 million global investment challenge for early-stage digital health, financial technology, Internet of Things and insurance technology companies.
“This year, we added two more industries that are rapidly growing and have the customers, investors and infrastructure in Connecticut to help companies thrive,” said Matt McCooe, CEO of Connecticut Innovations. “In our second year of operation, VentureClash will offer additional partners that can provide valuable insight and business opportunities for our companies.”