Connecticut Innovations recently announced the launch of the first-round application period for VentureClash 2018. The global venture challenge is designed to attract digital health, financial technology (FinTech), insurance technology (InsureTech) or Internet of Things (IoT) companies to Connecticut.
“This is our third year of VentureClash, and we expect more high-quality companies as well as additional corporate partners in our industry verticals,” said Matt McCooe, CEO of Connecticut Innovations.
“VentureClash and Connecticut Innovations are helping incredible companies grow and succeed here in Connecticut. As one example, Dream Payments, the 2016 top winner of VentureClash, has gone on to raise two rounds of funding for more than $10 million. Dream Payments has since launched in the United States, won major banks and insurance companies as customers, and announced partnerships with major credit and payments companies,” he added.
The entire investment award pool is $5 million, with a top investment award of $1.5 million. The remaining $3.5 million will be determined by the judges’ panel on the day of the event.
The VentureClash challenge launched the first-round application on March 1, 2018. Companies will have until June 8, 2018, to submit the first-round application. After two rounds of judging, approximately 10 companies will be invited to Yale University on Friday, October 20, 2017, to compete in person for investment awards. An outside panel of judges will help to determine the winning companies of VentureClash 2018.
To be eligible to apply, a company must:
- Have been in business for at least 12 months
- Have paying customers or customers who are actively testing the applicant’s product
- Have a compelling business reason to create a Connecticut presence, which applies to domestic and international applicants
- Be focused in digital health, financial technology (FinTech), insurance technology (InsureTech) or Internet of Things (IoT) including energy cost reduction technologies
For more information about qualifications, requirements, guidelines, and application, visit www.ventureclash.com.
Managed by Connecticut Innovations, VentureClash is Connecticut’s global venture challenge focused on early-stage companies. The challenge, launched in 2016, identifies high-potential companies in digital health, IoT, InsureTech and FinTech that will compete for investments from a $5 million award pool. For more information, visit www.ventureclash.com.
About Connecticut Innovations
Connecticut Innovations provides financing and ongoing support for Connecticut’s innovative, growing companies. Connecticut Innovations provides venture capital and strategic support for early-stage technology companies; financial support for innovation and collaboration; and connections to its well-established network of partners and professionals. For more information, visit www.ctinnovations.com.
Interested in learning more about Connecticut Innovations?
Read our interview with Connecticut Innovations CEO Matt McCooe.