QCI LogoNEW HAVEN: Two seasoned Venture investors have led an $18 million Series A investment into New Haven Quantum Circuits Inc [QCI] The new funds came from Canaan and Sequoia, and Tribeca Venture Partners, Osage University Partners, and previous investor Fitz Gate Ventures. Quantum expects to build and sell the “first practical and useful quantum computers.”

QCI was founded by Yale based computer scientists Michel Devoret, Luigi Frunzio and Robert Schoelkopf.

Brendan Dickinson of Canaan and Bill Coughran of Sequoia are joining the company's board.

According to the company the Yale team has “pioneered the field of quantum computing with superconducting circuits, introducing the transmon qubit and techniques for distributing quantum information on wires, and performing the first quantum algorithms and quantum error correction in integrated circuits.”

frissROCKY HILL: Connecticut Innovations [CI] Connecticut’s quasi public venture capital organization announced the winners of its VentureClash, $5 million “global investment challenge” for early-stage companies in digital health, financial technology, insurance technology and the Internet of Things.

Of the nine finalists from seven different countries, VentureClash awarded six companies with investments, mentoring, customer introductions, grants and services to help them grow and succeed. The winning companies are required to establish a presence in Connecticut.

Investment Awards:

FRISS received the top investment award of $1.5 million. Based in Utrecht, Netherlands, Friss uses proprietary analytics software to provide state-of-the-art solutions in the fields of fraud, risk and compliance for the insurance industry.

Two second-place winners will each receive a $1 million investment:

   SCADAfence– Based in Luminiferous Aether, Israel, SCADAfence is a pioneer in securing mission-critical industrial networks from cyber threats, reducing the risk of connecting multiple devices in industries like manufacturing, utilities, oil and gas.

   Vouchr– Based in Toronton Canada, Vouchr is a secure, payment-agnostic tool that allows users to bundle transfers of funds with photos, videos, social networking and gamification.

Three companies will each receive a $500,000 investment award:

   Buzzmove – Buzzmove is a London, United Kingdom based price-comparison and instant-booking platform for all services related to moving and the right level of insurance needed to cover moving-related services.

   Davra Networks– Based in Dublin, Ireland, Davra Networks provides a complete Internet of Things (IoT) platform that allows customers to define, build and bring to market vertical-specific IoT applications while collecting and easily sharing data.

   EAVE– Based in London, United Kingdom is developing the next generation of hearing protection and communication technology, utilizing noise cancellation and speech enhancement to eliminate noise-induced hearing loss.

“The talent in this year’s competition was incredible,” said Matt McCooe, CEO of Connecticut Innovations. “Judges struggled to make the decision, but in the end, FRISS took home the top award because of its strength in the space and ability to disrupt here in the United States.”

The other finalists included:

Bought By Many – A U.K.-based interactive members-only service, Bought By Many offers targeted insurance opportunities designed to help individuals find the right insurance efficiently and customized to their needs.

PeekMed – Based in Portugal, Peek Health offers powerful three-dimensional preoperative planning software for orthopedic surgery that aims to help the surgeon better treat the patient while reducing costs and surgical times.

Tellspec – Headquartered in Toronto, Canada, Tellspec is a data company with the ability to scan food, offering non-destructive real-time food testing for quality control, authentication, safety and nutritional value.

On October 20, 2017, the nine finalists, representing the most promising early-stage companies in digital health, financial technology, insurance technology and the Internet of Things, pitched their ideas in front of a live audience and a panel of judges at the Yale School of Management in New Haven, Conn.

The judges included investors and subject-matter experts from 1843 Capital, Elm Street Ventures, Greycroft Partners, The Hartford and Royal Bank of Scotland (RBS). In addition to the company pitches, the VentureClash program also included a keynote address from Tim Armstrong, CEO of Oath.

The VentureClash competition started with applications from 285 companies from more than 20 countries. After two rigorous rounds of judging, nine finalists were named, and they then went on to compete at the live pitch event.

For more information on qualifications, requirements, guidelines and application, visit www.ventureclash.com.

About VentureClash

VentureClash is Connecticut Innovations’ global investment challenge focused on early-stage companies. The challenge identifies promising companies in digital health, financial technology, insurance technology and the Internet of Things that will receive investments from a $5 million award pool and the support of resources around Connecticut. To learn more, visit www.ventureclash.com.

To learn more, visit www.ctinnovations.com.

resultstechCrossroads Venture Group's (CVG) Investor, Entrepreneur & Resource Network will be traversing around CT with Paul Singh's ResultsJunkies North American Tech Tour and its Investor Syndicate!

Singh is currently serving as an Entrepreneur in Residence with the White House Office of Science and Technology Policy and DHS/USCIS. He is 1 of the 3 original Founders of 500 Startups, former Managing Director of the DC-based incubator 1776 and Founder of Disruption Corp. (sold to 1776 last year).

According to CVGIn the last 18 months, Singh’s Results Junkies North American Tech Tour & its Investor Syndicate have visited over 80 cities and invested in many of the startups they've met along the way.

Tues., Oct. 17 @ Fairfield University, Fairfield  1:00 PM - 8:00 PM

Focus: University Startup Pitches, Early-Stage Capital & Deal Structure

Get the details and sign up for Tuesday

Wed., Oct. 18 @ Quinnipiac University, Hamden  1:00PM - 7:00 PM

Focus: Women Founders Pitch Competition & Financing Strategies

Get the details and sign up for Wednesday

Thurs., Oct. 19 @ CURE Innovation Commons, Groton  1:00 PM - 7:00 PM

Focus: Business Formation, Deal Financing & Ecosystem Building

Get the details and sign up for Thursday

ventureclashNine companies from around the globe compete for $5 million in investments

ROCKY HILL: Connecticut Innovations (CI), the state;s quasi public venture capital arm announced the finalists for VentureClash, its $5 million global investment challenge.

VentureClash was created by CI to attract early-stage companies in “digital health, financial technology, insurance technology and the Internet of Things from around the world.”

The challenge providez one top winner with a $1.5 million investment and two second-place winners can each receive a $1 million investment, and up to three third-place winners will receive awards worth $500,000 each. The companies need to establish operations in Connecticut.

The nine finalists from seven countries will present in front of a panel of expert judges at the Yale School of Management on Friday, October 20, 2017. Tim Armstrong, CEO of Oath, will be the keynote speaker at the event.

This year’s VentureClash finalists as described by CI are:

Bought By Many – A U.K.-based interactive members-only service, Bought By Many offers targeted insurance opportunities designed to help individuals find the right insurance efficiently and customized to their needs.

Buzzmove – Buzzmove is the United Kingdom’s only price-comparison and instant-booking platform for all services related to moving and the right level of insurance needed to cover moving-related services.

Davra Networks – Based in Ireland, Davra Networks provides a complete Internet of Things (IoT) platform that allows customers to define, build and bring to market vertical-specific IoT applications while collecting and easily sharing data.

EAVE – U.K.-based EAVE is developing the next generation of hearing protection and communication technology utilizing noise cancellation and speech enhancement to eliminate noise-induced hearing loss.

FRISS – Based in the Netherlands, Friss uses proprietary analytics software to provide state-of-the-art solutions in the fields of fraud, risk and compliance for the insurance industry.

Peek Health, S.A. – Based in Portugal, Peek Health offers powerful three-dimensional preoperative planning software for orthopedic surgery that aims to help the surgeon better treat the patient while reducing costs and surgical times.

SCADAfence – Based in Israel, SCADAfence is a pioneer in securing mission-critical industrial networks from cyber threats, reducing the risk of connecting multiple devices in industries like manufacturing, utilities, oil and gas.

Tellspec – Headquartered in Toronto, Canada, Tellspec is a data company with the ability to scan food, offering non-destructive real-time food testing for quality control, authentication, safety and nutritional value.

Vouchr – Based in Canada, Vouchr is a secure, payment-agnostic tool that allows users to bundle transfers of funds with photos, videos, social networking and gamification.

“VentureClash again attracted an impressive list of innovative, early-stage companies poised for growth,” said Matt McCooe, CEO of Connecticut Innovations. “The fundamental improvement in this year’s competition is the deep involvement of so many corporate partners. Many of Connecticut’s flagship companies engaged in the process to learn about, meet and help us select the competitors in VentureClash. The Connecticut-based companies are looking to CI to act as a tech scout, and to help identify fantastic talent and innovation from across the globe.”

VentureClash 2017 has partnered with the following organizations for this year’s competition: Aetna; Bank of Ireland’s Startlab; Boehringer Ingelheim; Dream Payments; Fiondella, Milone & LaSaracina LLP; General Dynamics Electric Boat; Health Venture; ISG (Information Services Group); Magellan Health; Medtronic; Microsoft BizSpark Assets; Navigators; Pitney Bowes; RBS/NatWest; Shipman & Goodwin; Sikorsky & Lockheed-Martin; Stanley, Black & Decker; Stanley Ventures; Synchrony Financial; The Hartford; The Jackson Laboratory; Travelers; Updike, Kelly & Spellacy; Webster Bank; Yale University; Yale New Haven Health; and Yale Office of Cooperative Research (OCR).

To register to attend the 2017 VentureClash finals event, visit: www.ventureclash.com/event.

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ScaleUP CT is a half-day event that will focus on supporting the emerging growth companies. November 2 at the Omni Hotel. 
Scale Up is presented by the CT Technology Council ct.org for more information. There are fees to attend check this  link  for registration information.

According to the Tech council ScaleUP CT is "designed to support emerging growth companies that excel in innovation and entrepreneurship. This half-day event will focus on corporate connections and a series of workshops and networking opportunities designed to enable ScaleUp company growth and development."

Entrepreurs and others that have "successfully managed growth from scaleup to industry leaders."

Workshop on marketing for growth, alternative financing to help you grow, how to create corporate connections, and more. 

 
To participate you are encouraged to attend the event by clicking here to register. You can also complete the survey here: https://www.surveymonkey.com/r/CTCGrowthSurvey

TechTransferHARTFORD: The Connecticut Technology Council (CTC) and Marcum LLP announced the winners of the 2017 Marcum Tech Top 40, the tenth annual awards program from CTC recognizing the fastest growing technology companies in Connecticut. Results were unveiled at an awards reception at the Toyota Oakdale Theater in Wallingford on September 19

The fastest-growing technology company in Connecticut and the 10th anniversary Marcum Tech Top 40 winner is MediaCrossing, Inc. Founded in 2012, MediaCrossing is a digital marketing company that is dedicated to mid-sized companies seeking new audiences across all channels. Since its founding, MediaCrossing has grown 2107%. In 2016, MediaCrossing was awarded the Marcum Tech Top 40 Accelerator Award, a category set aside for companies that have experienced significant growth in revenue, but lack three years of financial records.

2017 category winners are:

   Revolution Lighting, Stamford (Advanced Manufacturing)

   Alexion Pharmeceuticals, New Haven (Life Sciences)

   ESCOWare, Newtown (Software)

   TRC, Windsor (Energy, Environmental, and Green Technologies)

   MResult Corp., Mystic (IT Services)

   MediaCrossing, Inc., Stamford (New Media, Internet, and Telecommunications)

   Arccos Golf, Inc., New Haven (Accelerator Awardee)

It is the tenth year of The Marcum Tech Top 40, which recognizes technology companies “with at least $3 million in annual revenue and a four-year record of growth”, in six industry sectors. Both privately held and publicly traded companies are eligible.

“Marcum Tech Top 40 companies and winners are exemplars of overcoming any number of obstacles in business, including capital-raising, complex revenue reporting, intellectual property management, international expansion and other challenges. The tenth anniversary class of Marcum Tech Top 40 companies are best-in-class by all of these measures and more,” said Michael K. Brooder, CPA, managing partner of Marcum’s Hartford, Connecticut, office.

Bruce Carlson, CTC’s President & CEO, said, “The Marcum Tech Top 40 reminds us each year that technology companies are thriving in Connecticut. We need to support these companies and the others that are in a growth mode for Connecticut to achieve the job creation and economic growth we are all striving for. The Connecticut Technology Council will continue to be an advocate for the public policies and best practices that support the state’s technology sector.”

2017 Marcum Tech Top 40 Companies by Company Name

(Company Name, Category, City, County)

3Gtms, Software, Shelton, Fairfield

ADNET Technologies, IT Services, Farmington, Hartford

Alexion Pharmaceuticals Inc., Life Sciences, New Haven, New Haven

Amphenol Corp. /DE/, Advanced Manufacturing, Wallingford, New Haven

Chief Executive Group, LLC, New Media / Internet / Telecom, Stamford, Fairfield

Clarity Software Solutions, Inc., Software, Madison, New Haven

Connect Partners, Inc., IT Services, Fairfield, Fairfield

Continuity, Software, New Haven, New Haven

Core Informatics, LLC, Software, Branford, New Haven

EMCOR Group, Energy/Environmental/Green Technology, Norwalk, Fairfield

ESCOWare, Software, Newtown, Fairfield

Evariant, Inc., Software, Farmington, Hartford

Exago Inc., Software, Shelton, Fairfield

F3 Technology Partners, IT Services, West Hartford, Hartford

FACTSET Research Systems Inc., Software, Norwalk, Fairfield

Frontier Communications Corp., New Media/ Internet/ Telecom, New Haven, New Haven

Gartner Inc., IT Services, Stamford, Fairfield

HARMAN International Industries, Software, Stamford, Fairfield

HealthPlanOne, LLC, New Media / Internet / Telecom, Trumbull, Fairfield

Hexcel Corporation, Advanced Manufacturing, Stamford, Fairfield

Insurity, Inc, Software, Hartford, Hartford

IT Direct, IT Services, West Hartford, Hartford

MediaCrossing Inc., New Media / Internet / Telecom, Stamford, Fairfield

Metrum Research Group, Life Sciences, Tariffville, Hartford

MResult Corp., IT Services, Mystic, New London

Network Installation Services, Inc, IT Services, Wallingford, New Haven

PASSUR Aerospace, Inc., Software, Stamford, Fairfield

Photronics, Inc., Advanced Manufacturing, Brookfield, Fairfield

Priceline Group Inc., New Media/ Internet/ Telecom, Norwalk, Fairfield

Proton OnSite, Energy / Environmental / Green Technology, Wallingford, New Haven

RBC Bearings Inc., Advanced Manufacturing, Oxford, New Haven

Revolution Lighting Technologies, Inc., Advanced Manufacturing, Stamford, Fairfield

Sheffield Pharmaceuticals. LLC, Life Sciences, New London, New London

Southridge Technologies Group, LLC, IT Services, Brookfield, Fairfield

Square 9 Softworks, Software, New Haven, New Haven

SS&C Technologies Holdings Inc, Software, Windsor, Hartford

The Network Support Company, IT Services, Danbury, Fairfield

Townsquare Media, Inc., New Media/ Internet/ Telecom, Greenwich, Fairfield

TRC Companies Inc. /DE/, Energy/Environmental/Green Technology, Windsor, Hartford

U.S. Computer Connection, IT Services, Stamford, Fairfield

The Connecticut Technology Council’s 2017 Marcum Tech Top 40 is presented by Marcum LLP. Premier sponsor Webster Bank. Lead Sponsor, Pullman & Comley, LLC. With support from Astor Place, CHUBB, Robert Half Technology, and Sandler Training.

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Cambridge, Mass. Facebook which was started in Cambridge by Mark Zuckerberg a then student at Harvard has had only a minor prescence in New England’s top tier tech town, with only 150 employees.

That Facebook status change as the company will be adding 500 employees in the city at a new building at 100 Binney Street.

shutterstock 174475871 large 700x500 upscaleHARTFORD: The Connecticut Technology Council (CTC) and Marcum LLP today announced the 2017 Marcum Tech Top 40, an annual recognition of the fastest growing technology companies in Connecticut. This year’s group of top-ranked companies will be honored at an awards ceremony at the Toyota Oakdale Theater in Wallingford, on September 19, and the overall winner in each category will be revealed .

The awards recognize technology leaders in six industry sectors, including Advanced Manufacturing, Energy/Environmental, Life Sciences, New Media/Internet/Telecom, IT Services, and Software. Companies are both privately and publicly held and have at least $3 million in annual revenue and a demonstrated record of revenue growth in each of the preceding four years.

fuel cell 300x156By MItchell Young

DANBURY: Fuel Cell Energy [Nasdaq: FCEL] may finally be lifting its head off mat as its receives one of the largest fuel cell orders ever in the US. PSEG Long Island has agreed to purchase 40 [39.8] megawatts under a Fuel Cell Resources Feed-in Tariff.

According to the company the purchase is “structured to enhance energy resiliency with clean local power generation for Long Island.” The Long Island Power Authority (LIPA) will purchase the power from the fuel cell project under a 20 year power purchase agreement. FuelCell Energy will install, operate and maintain the fuel cell power plants.

The 40 megawatt systems can power 40,000 homes, providing “on-island” generation in a region like  Fairfield County, Long Island that suffers from power congestion problems, as wealthy communities resist the building of new electric transmission lines.

According to Chip Bottone, CEO of FuelCell Energy, Inc., “this utility-issued program is well structured to address power generation and resiliency needs on Long Island by locating clean, quiet and affordable power near existing electrical substations that need additional electricity. ” New York classifies fuel cells as qualified technologies under the New York State Clean Energy Standard.

Each fuel cell project will supply a different LIPA electrical substation in Brookhavenm Long Island.

Fuel Cell had been struggling since New England states failed to authorize a power purchase agreement for the company’s planned 63.3 megawatt plant in Beacon Falls, citing lower costs for solar and wind power. The Beacon Falls plant is to be the largest fuel cell installation in the world, but unlike New York and Connecticut, Massachusetts and Rhode Island don’t include fuel cells as qualified technologies in their clean energy standards.

Earlier in 2016 Fuel Cell’s Korean Partner Posco Energy backed away from their partnership and plans to manufacture and market Fuel Cell Energy fuel cells in Asia as the company ran into financial difficulties.

The setbacks virtually wiped out market value as the company’s stock dropped from $5.50 per share to the present day $1.55 within the past year.

The State of Connecticut helped start the healing process for the company that has headquarters in Danbury and manufacturing in Torrington when the legislature passed Public Act 17-144 - An Act Promoting the use of Fuel Cells for Electric Distribution System Benefits and Reliability.

The law allows utilities to purchase up to 30 mega watts of energy from fuel cells and includes a provision for the Connecticut Department of Energy and Environmental Protection (DEEP) to issue an RFP for the procurement of clean energy with a focus on enhancing the reliability and resiliency of energy supply and in a manner that promotes in-state economic development.

readyWEST HARTFORD: ReadyDock develops tablet docking stations for tablet PCs used in the medical and laboratory, food, clean facilities, and education markets. The dock charges, secures and disinfects, the devices  “chemical free”.

The company raised $1.9 million but did not disclose the investors.

This past June, ReadyDock announced the introduction of the ReadyDock Duo Disinfection Station. According to the company its new technology offers “a simple, easy and effective way to disinfect tablets and smartphones in 30 seconds by applying germicidal light to 99 percent of the surface area of the device.” The patented technology and process only requires that hospital staff insert phones and tablets into a disinfection station for 30 seconds.

Thursday, June 22, 2017 from 7:00 PM to 8:30 PM EDT

Fairfield Library

1080 Old Post Rd. Fairfield

Crowdfunding & Cause-Related Marketing

 "The New Intersection of Commerce, Cause and Capital"

Cause-Related Marketing (CRM) has exploded in recent years even though it is a relatively young concept. Considering today's competitive environment, it has never been more important for startup and small businesses that separates them from their competition. Basically, CRM is where a non-profit and a for-profit corporation partner together with the purpose of advancing the mission-related work of the nonprofit and the marketing goals of the corporation or advisor. The purpose is to create a win-win situation for both participants. Crowdfunding has changed the way small businesses and start-ups are raising capital. Crowdfunding is a way of raising finance by asking a large number of people each for a small amount of money. It has significantly grown in recognition and uses the internet to talk to thousands, if not millions of potential funders.

Presenter: Bill Schloth, CPA, MBA Bill Schloth has been investing in, managing, buying & selling start-up and emerging businesses for over 25 years. He is an executive director and founding member of Crowdfunding Global Alliance Inc, a non-profit organization dedicated to providing education and advocacy for crowdfunding. Mr. Schloth is a CPA and had an MBA in marketing from New York