‘Glaring Lack’ of Capital for Connecticut Start Ups

An article in today’s Connecticut Business News Journal says Connecticut’s medical device market is taking off — with over 300 companies between New Haven and the bordering Massachusetts town of Springfield — but growing demand in the region may leave many small companies high and dry when it comes to funding. Joseph Bronzino, head of Biomedical Engineering Alliance & Consortium, a Hartford-based non-profit dedicated to bringing new medical technologies to market, tells the Journal that there is a “glaring lack of significant capital for start-ups” to keep up with high demand for preventive technologies, and an aging population. Another local, David Reed of Connecticut Innovations, the state’s technology investment arm, is charged with selecting the early stage companies that are worthy of state money. What’s he looking for? A compelling economic strategy, strong management team, intellectual property, and “how a product fits into the industry.”

The comments are closed.