Nine 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.