On the eve of the annual Crossroads Venture Fair for technology startups, Connecticut Innovations Inc. unveiled plans for an incubator at the University of Bridgeport with the goal of providing space and support to such companies.
When it opens this summer at 250 Myrtle Ave. in Bridgeport, the CTech Incubator will be the only such university-based facility in Fairfield County, according to Connecticut Innovations. The University of Connecticut at Stamford runs a facility called EdgeLab that encourages collaborations between the school and corporations such as Fairfield-based General Electric Co., but is not considered a business incubator.
The National Business Incubation Association lists a half-dozen incubators in Connecticut, including the original CTech incubator in Rocky Hill where Connecticut Innovations is based. Operated under the purview of the Department of Economic and Community Development, Connecticut Innovations operates as a state-backed venture capital and “clean” energy fund.
“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,” Gov. M. Jodi Rell said in a statement.
Over the past several years, the University of Bridgeport has sharply increased the size of its graduate school of engineering. It is now “home to the largest graduate engineering school in the state of Connecticut,” said Tarek Sobh, dean of the University of Bridgeport School of Engineering and vice president for research and graduate studies. “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.”
Priority will be given to projects launched by University of Bridgeport students, alumni or faculty; companies supported by Connecticut Innovations. However, the CTech Incubator will also consider businesses that are not otherwise affiliated with the two organizations.
Connecticut Innovations did not immediately disclose asking rents and benefits of housing one”™s business at the incubator.
The new incubator will initially focus on attracting entrepreneurs working in information technology, digital media, advanced materials and environmental and energy technologies. Businesses in other technology sectors will eventually be considered.
Entrepreneurs or startup ventures interested in obtaining more information about the incubator or applying to participate may contact Gad Selig, associate dean of business development and outreach in the graduate studies and research division of the University of Bridgeport at (203) 576-4870 or gadselig@bridgeport.edu; or Charles Moret, managing director of business development at Connecticut Innovations at (860) 257-2333 or charlie.moret@ctinnovations.com.
