Gov. Malloy Announces Launch Of Startup Connecticut

Connecticut entrepreneurs got some good news this morning when Governor Dannel P. Malloy joined with business leaders to announce the launch of Startup Connecticut, a new initiative that will help to reinvent Connecticut by assisting high-growth entrepreneurship throughout the state. Startup Connecticut will be part of a national network of state and regional efforts coordinated by the Startup America Partnership, the national organization working to help young companies grow in order to create jobs in the country. Connecticut becomes the third state in the nation to adopt its own regional initiative.

“Connecticut has always had a reputation as the home to innovative companies, technologies and workers,” said Governor Malloy in a press release. “But in recent years, people have begun to wonder if Connecticut’s best days are behind it. Nothing could be further from the truth. In finding new and innovative ways to compete in a 21st century economy, we also have to find new ways to reinvent Connecticut. I believe we have yet to effectively harness our potential to create new companies, help those already here, and maximize the job creation potential of both. The launching of Startup Connecticut will give us a series of coordinated efforts to improve our track record now.”

A group of almost two dozen entrepreneurial, business, government and academic leaders has met regularly with the Malloy Administration during the past five months, reviewing measures that should be taken to improve Connecticut’s efforts to support entrepreneurship and innovation. They concluded that better organization, coordination and networking of existing entities and creation of very focused and carefully designed new entities would produce the best results for the state, rather than starting from scratch.

Governor Malloy explained, “Startup Connecticut will form the basis of a new public/private partnership that will bring sweeping changes to how we approach and support our state’s startups and small business entrepreneurs. The goal is to launch many more startups in a much shorter timeframe, and increase the quality and levels of support for our existing base of smaller firms. This will create jobs as well as a vibrant innovation ecosystem in Connecticut, which will accelerate our economic recovery.”

The program will focus on several areas, including a hub design that will see regional centers established and supported by statewide efforts to bring technology, concept testing, mentors, funding and key business connections to firms where and when needed.

Scott Case, a successful entrepreneur who was founding CTO of Priceline in Connecticut and is now CEO of the Startup America Partnership, said, “I know first-hand that Connecticut is a tremendous place to start and grow a business. I look forward to working with Connecticut to take its startup ecosystem to the next level and build the next generation of companies whose innovation and growth will create more jobs.”

“Startup Connecticut will help maximize the resources of our existing small business leaders, entrepreneurs, universities, incubators, funders, and other support organizations, and in doing so will go a long way in improving the ability of Connecticut to market itself as an ideal location for high-tech startups and innovative, high-potential firms,” said DECD Commissioner Catherine Smith. “We look forward to leveraging the learnings of Startup America from other states and joining into a national network of support systems that can link our firms to capital, administrative support and entrepreneurial support.”

Additional information about Startup Connecticut can be found on its website at www.startupct.org.