TechStart Fund Launched

Jan 26th, 2012 @ 02:20 pm › Katelyn Anton
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Capital is an important ingredient to launching a venture, there’s no question. But support and advice can be equally powerful. And they are often equally hard to find. That’s why a recent announcement by Connecticut Innovations is important.

“Connecticut Innovations today (01/10/2012) launched the TechStart Fund, which was created to spur technology innovation at its very earliest stage. TechStart provides entrepreneurial or student teams with initial capital so they can determine whether a technology concept and business is viable and whether future funding can be obtained to launch a new business. Teams will participate in an initial 10-week pilot program during which they will be provided with mentors and professional resources offering strategic guidance in launching a new business.”

Connecticut Innovations expects that at the end of this program, each team should have a prototype or market-ready product, be ready to launch a company and be prepared to make a pitch to investors for additional funding.

The 10-week pilot program will be held at CTech@Science Park at Yale in New Haven and will begin in March 2012. Eligible Connecticut-based student or entrepreneurial teams will be awarded up to $25,000 in funding. Participating startups don’t give up any equity in exchange for funding.