Connecticut Innovations, the state’s quasi-public venture capital fund, recently announced its small businesses research grants have helped businesses secure more than $4 million in additional federal funding.
Since CI launched its  acceleration and commercialization program for small business innovation research over a year ago, nearly 30 high-tech companies in Connecticut have secured about $1 million in grants and loans from CI. In turn, company owners have been able to leverage close to $4 million in federal grants,  contracts and matching funds, according to CI officials.
“We are extremely pleased to support the game-changing technologies of these 30 companies,” Claire Leonardi, CI CEO, said. “Our funding is enabling the companies to sustain important research and take initial steps toward technology commercialization … The (Gov. Dannel) Malloy administration encourages this type of support for innovative companies, as it promises to accelerate job and revenue growth for the state.”
Three of the 30 CI grants have been awarded to businesses in Fairfield County, including Biodel Inc. of Danbury, Materials Technologies Corp. of Monroe, MetroCrops L.L.C.  of Norwalk and PsquaredT L.L.C. of Wilton.
