VentureClash is back for a second year, offering early-stage companies the opportunity to compete for $5 million in funding to expand their business in Connecticut.

Ten chosen companies will be invited to pitch their plans to experts, customers, and other innovators at the one-day Venture Clash final at Yale University October 20.

“VentureClash allows you to improve the strategy of your business, and gives you introductions to venture capitalists that you probably would never have access to otherwise,” says Brent Ho-Young, CEO of Dream Payments and first place winner of the 2016 competition.

“You’re also able to network with a group of entrepreneurs who are just like you, who have the same struggles and who are trying to be successful.”

Companies in the areas of FinTech, Digital Health, InsureTech, and the Internet of Things will be judged and chosen by their innovative use of technology, efficient business model, a strong team of employees, traction of their product in the marketplace, and eagerness to take advantage of Connecticut’s resources and talent pool.

Companies will compete for either a first place, $1.5 million investment award; second place, $1 million; or up to three additional awards worth $500,000 each..

Venture Clash was developed by Connecticut Innovations. The application process closes June 9.