Governor M. Jodi Rell today announced a new initiative to spur the development of high-tech start-ups, fostering additional economic development and stimulating job creation in greater Bridgeport and Fairfield County.
The “CTech IncUBator” is a partnership between Connecticut Innovations (CI), the state’s quasi-public authority for technology investing and innovation development, and the University of Bridgeport (UB). To be based at UB, the CTech IncUBator will be Fairfield County’s first and only university-based incubator for high-tech start-ups.
“Small businesses account for eight out of 10 of our state’s new jobs every year,” Governor Rell said. “In these economic times, it is more important than ever to cultivate entrepreneurial, start-up businesses – our primary engine of job creation. There is strong evidence showing businesses that participate in incubators like CTech tend to do better over the long haul, so we expect this initiative to go a long way toward ensuring the success of the next generation of high-tech leaders in our state.
“New businesses will benefit from a full range of resources provided by the University and CI,” the Governor said. “That includes access to mentors, UB research facilities and faculty, student interns and pro bono or discounted business advice from partner sponsors. The IncUBator will be a one-stop answer shop for entrepreneurs.”
CTech IncUBator offices will be located on the UB campus at 250 Myrtle Avenue in Bridgeport and are scheduled to be ready for occupancy by early summer.
“It is very appropriate to have a technology incubator on this campus, given the well-known history of the University of Bridgeport in developing high-technology, innovative interdisciplinary-research projects, and cutting-edge products and services,” said Dr. Tarek Sobh, Dean of the UB School of Engineering and Vice President for research and graduate studies. “The University is home to the largest graduate engineering school in the state of Connecticut. Its faculty and students are involved in major research endeavors, including the development of the U.S. Army’s next generation of unmanned aerial vehicles and sponsored projects in the areas of biomedical engineering, nanotechnology, and wireless computing. It is a partner with the Connecticut Center for Advanced Technologies (CCAT) and is home to CCAT’s Center for Robotic Simulation, which was founded at UB in 2008.”
The incubator will initially focus on attracting participants from the several key industry sectors: information technology, digital media, advanced materials and clean tech. Businesses in the STEM classifications (science, technology, engineering and mathematics) will eventually be considered.
While priority will be given to projects launched by UB students, alumni or faculty as well as companies supported by CI initiatives, the CTech IncUBator also will welcome businesses that are developed independently.
“We are delighted to collaborate with the University of Bridgeport on this important project,” said Joan McDonald, chair of CI. “This latest CTech initiative strengthens CI’s support for very early-stage companies and will help generate prospective pre-seed and seed funding opportunities for CI.”
Entrepreneurs or start-up ventures interested in obtaining more information about the incubator or applying to participate may contact Dr. Gad Selig, Associate Dean of Business Development and Outreach in the Graduate Studies and Research Division of the University of Bridgeport, (203) 576-4870 or email@example.com; or Charles Moret, Managing Director, Business Development at Connecticut Innovations, (860) 257-2333 or firstname.lastname@example.org .
Contact: Rich Harris, 860-524-7313, email@example.com
About University of Bridgeport
The University of Bridgeport offers career-oriented undergraduate, graduate and professional degrees and award-winning academic programs in an international, culturally diverse supportive learning environment that prepares graduates for life and leadership in an increasingly interconnected world. There are 400 full- and part-time faculty members, including Fulbright Scholars, National Science Foundation Fellows, Ford Fellows, National Endowment for the Humanities Fellows, American Council for Learned Societies Scholars, and Phi Beta Kappa Scholars. Committed to creating new learning venues, the University of Bridgeport’s School of Continuing and Professional Studies and its Office of Distance Learning pioneered the first online graduate degree program in the state of Connecticut. A variety of online courses and certificate programs are also available. The University is independent and non-sectarian. For more information on UB, please visit www.bridgeport.edu.
About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies, university/industry research collaborations, technology transfer, and clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, nonprofit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. CI directs the activities of CTech New Haven in partnership with founding sponsors, Launch Capital, The United Illuminating Company and Yale University. For more information on CI, please visit www.ctinnovations.com. For more information on CTech New Haven, please visit www.ctinnovations.com/ctech.