Innovative and Progressive Connecticut

Goals

To prove that Connecticut is both innovative and progressive in funding innovation, we are interested in uncovering recent proof points around this in 4 fields: BioScience (New Haven is apparently a hotbed); FinTech; MedTech; and Advanced Manufacturing to be used in articles targeting millennials and Gen Z to dispel the notion that Connecticut is out of touch and does not afford opportunities people could find by working in nearby Boston or New York to attract them and retain them in the workforce in these fields.


Early Findings

Our initial research on proving that Connecticut is both innovative and progressive in funding BioScience revealed insights. Here are key pieces of information we found:

Innovative and Progressive Connecticut:

BioScience

  • The Elm City Innovation Collaborative (ECIC) has a vision for how to further promote the development of software and bioscience jobs in New Haven to retain entrepreneurs and support the development of new ones by creating more spaces for start-ups to grow and connect, developing talent for bioscience and software jobs, and making tech hubs welcoming places.
  • ECIC has supported 32 participating organizations, has opened 30,000 square feet of new office and lab space, hosted 214 events, and catalyzed $10 million in private investment.
  • They have also funded the creation of new and progressive testing facilities at Science Park to accommodate the expansion of Arvinas and other medical device start-ups.
  • In the future, ECIC is planning to build a shared lab space somewhere in New Haven by securing state and private investment for a new “world-class lab facility” similar to what Rhode Island, New York, and Massachusetts have used public and private dollars to fund in their own states.
  • This collaborative was initially funded by a CTNext Innovations Places grant. Other cities in Connecticut to have been awarded this grant are Stamford, Hartford, and Groton.
  • The Connecticut BioScience Innovation Fund (CBIF) is a $200 million, 10-year fund created in 2013 that provides up to $500,000 to speed bioscience breakthroughs and help commercialize them.
  • According to data compiled by CBIF, Connecticut is ranked 2nd for academic R&D investments in bioscience, ranked 4th for venture capital R&D investments in bioscience, ranked 4th for the nation's most innovative economy, ranked 4th for number of bioscience patents per 1,000 people, and ranked 6th for the number of scientists and engineers in the workforce.

Proposed next steps:

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