May 11, 2016

Connecticut Innovations' $5 Million Investment Challenge

Connecticut Innovations (CI), a quasi-public agency that is a source of financing and support for Connecticut's innovative, growing companies, recently announced a $5 million global investment challenge called VentureClash.  Starting April 28, 2016, early-stage digital health and financial technology companies can apply for a chance to win a CI investment. 

The first-place winner will receive a $1.5 million investment, the second-place winner will receive a $1 million investment, and four runners-up will each receive a $500,000 investment.  The winners will also receive mentoring, grants, and other assistance.  First-round applications must be submitted by June 30, 2016.

To qualify, a company must:

  1. have been in business for at least 12 months;
  2. have paying customers or customers who are actively testing the applicant's product;
  3. be willing to establish a Connecticut presence; and
  4. be focused on digital health or financial technology.

The selection process will include two rounds of judging, an in-person competition at Yale University, and a four-week development and orientation program.

Read more about the challenge on CI’s website.