CT Startup Lifestyle Brand Empowers People to Do Good

March 22 2019 Innovation Destination: Hartford Startups 0 comments Tags: Connecticut, CT, Greater Hartford, reSET, startups, women business owners, women-owned business, women-owned startup

Fuel Love Creator and Founder Melissa Muszynski.

Fuel Love is one of many innovative startups participating in the 2019 reSET Impact Accelerator. The program is designed for entrepreneurs in the early stages of business development.

Fuel Love Creator and Founder Melissa Muszynski recently shared her startup experience with Innovation Destination Hartford.

INNOVATION DESTINATION HARTFORD: When and why did you launch your startup?

MELISSA MUSZYNSKI: I explicitly remember the morning Fuel Love launched. I was getting ready for work and closed my eyes for a minute to send positive energy to a relative going through a difficult time. Suddenly, the words “fuel love” came to my mind. It felt like the “ah-ha moment” so many business owners describe.

I visualized a logo on a shirt. It must have been my intuition saying, “launch a business to help connect people through love.” It was a surreal moment.

I followed my intuition and within days we were designing shirts. A few weeks later we were selling them in stores throughout the state. I’m a spiritual person and I don’t believe in coincidence. I believe we’re destined to do something greater than we could imagine. That’s why I created Fuel Love.

I often ask people, “Do you believe the world needs more love?” Every single person says, “Yes!” Our mission is to inspire people to do good and love more. The brand reminds people to ask themselves, “How can I make a difference?”

IDH: In your startup process, did you connect with any Connecticut business resources?

MELISSA: Yes. Early on, I connected and collaborated with other women-owned businesses, which has been critical to Fuel Love’s growth. Establishing these relationships early on enabled my brand to grow organically with the support of talented, successful business owners.

I’ve learned and grown as a business owner because of these women and the inspiring relationships we’ve created. We all see the importance of supporting one another and we’re creating a community of business owners who genuinely want to help each other. It’s positive and empowering. I hope someday I can give back others like they have to me. Larissa Lake, founder of Larissa Lake and Co./Linden and Kimberly Pedrick, founder of dwell New Haven are two business women who believed in my brand from the beginning. I cannot thank them enough.

In addition, I’ll begin two major endeavors as a new business owner this year. In February, I joined reSET’s 2019 Impact Accelerator Program, which is designed to provide entrepreneurs with access to the knowledge, networks, and resources they need to grow their businesses and their social impact. The program focuses on connecting entrepreneurs with early-stage customers and industry-specific experts and mentors, while providing them with coaching along important startup milestones.

Later in the spring, I’ll attend Cornell University to participate in its Women’s Entrepreneurship Program in partnership with Bank of America. This first-ever pilot program and strategic partnership will provide women entrepreneurs with the skills, knowledge, and resources to build, manage, and scale a successful business.

IDH: Who is your target client and how are you marketing?

MELISSA: Our customer base is primarily women in their 20s to 60s who shop for themselves and young children. Many are mothers who want to teach their children about love and kindness and believe our merchandise offers them a good starting point to have those conversations. Some of our customers have gone through challenging times in their lives and feel connected by our clothing.

We’re marketing on social media and via social media influencers, as well as in person and at major events throughout the state. We’re also growing the brand by establishing retail partnerships.

IDH: How did you develop those partnerships? And do you intend to find additional distributors?

MELISSA: Our products will be available at more shops in Connecticut (and one in Rhode Island) and we’ll be growing that list in the months to come. I made those connections by having in-person conversations with the business owners about the brands they look to collaborate with as they gear up for their fall and spring buying. We’re also selective about the stores where we sell. They all have the mindset of empowering people with merchandise that does the same.

IDH: What’s your biggest startup challenge?

MELISSA: Time! I have an enormous amount of energy, but not enough hours in the day. Being a wife and a mother to two little girls who have bigger social lives than me, while growing this company has been a major balancing act. However, with it comes the learning lesson of how to prioritize and manage deliverables in all areas of my life.

IDH: What are you most proud of that you have accomplished in the last year?

Fuel Love is one of innovative startups participating in the 2019 reSET Impact Accelerator.

MELISSA: Since our launch, Fuel Love is empowering people to offer more love, kindness, and compassion into their daily lives. We receive stories about how people are making a difference and that’s what our company strives for—seeing people fuel love.

IDH: What resources do you need most to move your company forward?

MELISSA: We would greatly benefit from collaborations with major retailers and social media influencers while creating robust and interactive communications and developing marketing and public relations campaigns.

IDH: Any advice to others thinking of launching a Connecticut startup?

MELISSA: Don’t think, just do it. Take the leap of faith and believe in yourself and the product/service you can provide. We have one life to live and we have to make it count. None of us want to look back and have regrets.

Learn more about Fuel Love
VISIT: fuel-love.com
FOLLOW: Facebook | Instagram

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Innovation: Industry 4.0 Makes an Impact on CT Additive Manufacturing

March 12 2019 Innovation Destination: Hartford Innovation 0 comments Tags: 3D printing, additive manufacturing, Connecticut, CT, Industry 4.0, startups

This story by News Editor Gregory Seay originally appeared in the Hartford Business Journal March 11, 2019.

David Hill, Director of Additive Manufacturing Operations at ATI Hartford, formerly Addaero Manufacturing, inspects a part developed using 3D-printing technology. (Photo courtesy Hartford Business Journal)

Technology mankind has used for generations to cast and shape metal parts is giving way to “additive” processes, in which digital-laser machinery applies layer upon layer of hot material to create complex parts to fine tolerances.

Some three decades after it was first introduced, additive manufacturing is finally taking hold, manufacturers and others say, but not just among tinkerers, test sites or smaller firms using it to create part prototypes.

Large Connecticut and U.S. original equipment makers like Pratt & Whitney, General Electric, Stanley Black & Decker, and others are growing more comfortable with the technology's product quality and operating efficiencies, leading them to acquire or partner with additive manufacturing—or 3D printing—companies and suppliers.

…

Meantime, a small batch of 3D printing startups that came to Hartford last fall to participate in the Stanley+TechStars Additive Manufacturing Accelerator say they are staying in the Capital City to focus on refining their technology.

Read the complete story:
CT Stakes High Ground in Additive-Manufacturing Arms Race

Interested in learning more about Industry 4.0?
READ: Industry 4.0: We’ve Come a Long Way from Traditional Manufacturing

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CT Entrepreneur Launches Beauty Box Subscription Startup

March 11 2019 Innovation Destination: Hartford Startups 0 comments Tags: Connecticut, CT, Greater Hartford, reSET, startups, women business owners, women-owned business, women-owned startup

Connecticut entrepreneur Eliana Cardeno is Founder and CEO of Kiyomi Beauty, a startup participating in the 2019 reSET Impact Accelerator.

An opportunity to live and model in South Korea inspired Connecticut entrepreneur Eliana Cardeno to found Kiyomi Beauty. Since then, she connected with startup resources to launch her business, including participating in the 2019 reSET Impact Accelerator, a program designed for entrepreneurs in the early stages of business development.

Innovation Destination Hartford Website Curator Nan Price spoke with Eliana about her startup journey.

NAN PRICE: How did you develop the business idea for Kiyomi Beauty?

ELIANA CARDENO: I spent about a year and half in South Korea, which is where I started to learn about Korean skin care.

K beauty is becoming more popular in the United States and I thought: How can I make a product to show people about K beauty? I had heard about subscription boxes and I thought that concept could work and enable me to introduce Korean skin care products as a subscription method where people can see many of the different existing products.

Originally, I was going to start the business from South Korea. I was born in Colombia, but I grew up here in Connecticut and I’ve been here for about 19 years. I thought: Why would I start a business in South Korea when my home is Connecticut and there are so many great resources here?

NAN: Let’s talk about those resources.

ELIANA: I started working on a business plan when I was still in South Korea. I had taken an entrepreneurial class at the University of Hartford, which helped with that aspect. I had saved some money while I was in South Korea, so I knew I had the building blocks to create something.

When I moved back to Connecticut, the business was still just an idea. The more I met with people, the more I realized it could actually become a viable business.

I thought about reSET right away because I had worked with them in the past at a Startup Weekend event. They helped me connect with business advisors at the Connecticut Small Business Development Center who reviewed my business plan and provided feedback. They thought my business concept was fresh and exciting. But they weren’t sure if I would be able reach out to investors because, with subscription plans, you don’t see a quick return on investment in the beginning.

My business really took hold when I decided to participate in Cratejoy’s free one-month accelerator, which is designed to help people start subscription box businesses. Out of the 60 people in my cohort, I was the only one who only had an idea and a business plan. Everyone else was a little further along.

The program helped me get to a point where I felt like I was ready to launch. In one month, it broke down everything you need to do—building a website, creating a tagline, writing a mission, reaching your target market, and choosing a company name. I chose “Kiyomi” because it means “cutie” in Korean.

I completed the Cratejoy program around the time as the reSET Flight Night Pitch event last November. I wasn’t going pitch, but Ojala Naaem, who was Managing Director at the time, encouraged me. She told me: You have something. This is an actual business. Just go for it.

So, I went for it. And it turned out great. Everyone loved the idea and it was a big push for me. It really gave me the confidence to say this business is real. I launched January 15.

NAN: How are you marketing?

ELIANA: I’m taking a very holistic approach using social media, doing giveaways, and offering coupons. I haven’t invested any money on ads but, as I continue to grow, I think that will be the next step.

NAN: What’s your biggest startup challenge? Anything you wish you’d done differently?

ELIANA: There’s a challenge in getting people to invest in a product they don’t know anything about. It was important for me to think of the education behind it. That’s one of the biggest things I want to add to my website and company mission: information about how to use the products and what the products entail to empower individuals and help them feel more confident.

Another challenge was the idea of wanting to be perfect. I was so afraid of how the website would look, if I was using social media effectively, or if I was doing the blogs or the newsletter correctly. It would take me forever to finally get something accomplished.

I finally realized, people are just happy to see something different and new. All you need is a platform where people can see what you have, buy the product, test it out, and then from there you can continue to grow. Instead I was bogging myself down with minutia: Is it perfect? Are people going to like it?

And I’ve gotten a lot of encouraging feedback about the website, my social media posts, and how much I interact with my audience. Looking back, I wish I told myself: Just do it, it will be fine!

NAN: How did you connect with a supplier in Korea?

ELIANA: Working in the modeling industry in Korea I networked and connected with Korean beauty suppliers and different companies. From those connections, I met with wholesalers and some suppliers, which enabled me to build the first few products for my subscription boxes. The only thing is, because the products are coming from Korea, it can take a little while for them to get to the United States.

Kiyomi Beauty is a beauty box subscription featuring a variety of K beauty products.

Since beginning this whole process from the United States, I’ve reached out to more companies. And now that I have built a brand with a website, they’re more open to working with me. Also, a lot of K beauty companies want to reach American audience, so they’re interested in working with new and up-and-coming companies.

NAN: What do you see for the future of your business?

ELIANA: I hope to continue to grow the company. Ultimately, I’d like to bring this box all over the world. My current focus is ensuring there are a lot of subscribers and increasing the educational portion of the company, so it’s not just products people are getting but also information and education about them.

I also want to tap into my nationality and give Latin American and Spanish speakers in the United States an opportunity to try my products. My next goal is to increase content on the website so people can access it in English and Spanish. I’ve been doing my social media that way, and I want to do that for the educational materials as well.

I feel like I’ve always had an entrepreneurial mindset. But it took a long time for me to finally decide on a project I really wanted to pursue. I had so many ideas and I found something I truly love, which is why I finally went ahead and did it. This is my passion project.

Along the way, I’m grateful to have met a number of community leaders and entrepreneurs in the area who have provided feedback and support. Many are willing to provide resources about marketing, finance, or legal issues at no cost.

There are a lot of resources out there for people starting new businesses in Connecticut. All it takes is for you to go out and try to find it. Network. Go to events. Really put yourself out there.

Learn more about Kiyomi Beauty

VISIT: www.kiyomibeauty.com
FOLLOW: Facebook | Instagram

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CT-Based Creatives Launch Event Styling Company

March 06 2019 Innovation Destination: Hartford Startups 0 comments Tags: Connecticut, Greater Hartford, how to start a small business, startups, women business owners, women-owned business, women-owned startup

Aglow Event Styling founders Genae Griffin, Shay Ingersoll, and Ashley Holloway (left to right).

Shay Ingersoll, Ashley Holloway, and Genae Griffin founded Aglow Event Styling in June 2018. The team spoke with Innovation Destination Hartford Website Curator Nan Price about their startup experience and why they emphasize relationship building.

NAN PRICE: Give us a little background. When and why did you launch?

SHAY INGERSOLL: We officially launched in June 2018, but the ideation phase began in January 2018. Ashley, Genae, and I have always been creative, and we were independently working on our own initiatives. Ashley kind of pushed us to do something as a group, because we had that synergy.

We went through a few different ideas and then it clicked. Ashley and Genae were planning my 30^th birthday. I really wanted to have a flower wall at my birthday party, and I wanted to know if we could do it ourselves. I also thought it would cost a lot to buy the materials and put the wall together, so maybe we could DIY it and rent it out to others. Then we all realized: Maybe this is what we could do as a business together.

NAN: You’re all coming together as creative mindsets. Does anyone have a business background?

ASHLEY HOLLOWAY: I’ve always been in the creative space. I went to college for fashion merchandising and business management. I always thought I was going to be doing something with fashion or design and then I got to the point where I was more interested in that merchandising aspect—getting the look of a store together, which ties into what we’re doing with event styling.

GENAE GRIFFIN: I’ve always had a passion for party decor. I started by planning and decorating my daughter’s birthday parties six years ago. I specifically love doing treat/cake table setup. I started by using YouTube to research ideas and teach myself how to make treats, favors, and balloon decor.

SHAY: I had a sole proprietorship called contribeaution, which I considered my hobby business. The name was a play on words with contribute and beauty. I hosted events for women where I’d collect donations and give money from ticket sales to local shelters. To supplement that, I started selling hats with phrases on them. I opened an Etsy shop, but it became another thing where it was good as a hobby, but it wasn’t good as a business.

I believe you shouldn’t do something if you don’t feel passionate about it. So, I kept the Etsy shop open, but I wasn’t pursuing it the same way I would if it was a full-blown business. Things had slowed down with contribeaution and I closed the sole proprietorship and was waiting for my next thing. I was thinking of starting a planning business when we came up with the idea for Aglow.

Aglow Event Styling specializes in floral backdrop rentals.

Also, I’ve had that business mindset and liked putting systems and processes in place ever since I was a child. I didn’t go to school for business, but I’m driven to figure things out, whether it’s learning to DYI by watching something on YouTube or just doing research. And I’ve enjoyed the process of putting our systems in place together. For example, we used Squarespace to build our website from ground up and we all had to learn how to use it.

NAN: Your startup is less than a year old. How have you evolved since you launched?

ASHLEY: At the time, we only planned to create and rent out flower walls. The business has grown quickly, which we didn’t expect. We’ve added in balloon designs and specialty signage. Shay has taken on learning laser cutting and hopes to become skilled in screen printing and embroidery as well.

GENAE: Once I taught myself how to do balloon arches and columns, people took notice. I would get hired by friends and family to decorate their events with balloons. Shortly after we launched Aglow, we decided to offer balloon décor. Adding in greenery and flowers to the balloons gives it a signature Aglow touch!

NAN: Who is your target clientele and how are you marketing?

ASHLEY: So far, our marketing has mainly been word-of-mouth. We work with wedding planners to arrange the styling for their events. We also have corporate clients and we target bridal showers, baby showers, birthday parties, retirement parties—really any event where a centerpiece is needed.

Our goal is to reach more wedding clients, which is our biggest demographic. We plan to attend some bridal expos this year. Last year, a couple rented one of our flower walls for their wedding. They also had a photo booth company that used our flower wall as a backdrop. The photo booth company later reached out and said they were working at a bridal expo and would love to use our flower wall as their backdrop again. So, they got us some exposure by bringing our wall to the event. That was great, but we want to get even more exposure and make sure we show our faces at these events.

NAN: What’s your biggest startup challenge?

ASHLEY: Funding is always a challenge. Soon after we launched, we knew we wanted to grow our inventory—and we needed more money to do more things. We did a mini crowdfunding event where we hosted an open house so people could come see what we do. We got some donations, but other than that, we haven’t really tapped into a legitimate funding source. That’s on our plate for 2019.

Although we aren’t event planners, we want to put on a couple events like our open house so people can see what we actually do. With that in mind, our one-year business anniversary falls on National Rosé Day in June. We’re planning to host a big rosé party to help spread the word about our business and bring something fun to Connecticut.

SHAY: I think our biggest challenge right now is the way in which we labor. Our business is very hands-on. And we’re creating a lot of different things now, so we have inventory in each of our homes. Our floral walls are huge and we’re running out of space! Being a new company, we want to keep our operating costs low because money is up and down. We can have 10 bookings one month and two the next. But we’re going to eventually need a space where we can build, store materials, and do our administrative tasks. Hopefully by the end of the year we’ll have a set place.

A big part of the client relations piece is interacting with people. So, we want the workspace to be a space where we can be building in the back and meet with people in the front. We also sell merchandise, so it would be good to have a space for people who come pick up their orders.

GENAE: Time is also a challenge for us. We all have full-time responsibilities outside of Aglow. We are moms, we work full time, and life gets busy! I think we’ve done a great job thus far managing our time and utilizing our resources to stay on top of things. In the near future, we see our business growing, so I’m confident that the sacrifices, booked weekends, and busy days will pay off.

NAN: In terms of other challenges is there anything you wish you had done differently starting out?

ASHLEY: It’s been less than a year. We’ve gone through trial and error just building our walls—we realized after we build them that they needed to be a portable. We’ve grown fairly quickly and grown wiser at the same time. So, I wouldn’t change anything. I think it’s going on the perfect path to making sure we’re doing things correctly.

SHAY: I agree 100%. Trial and error are embedded in everything we do, whether it’s physical labor or the backend stuff. We’ll be using a system—or maybe three systems—to develop something and then we find out we can simplify it. We’ve wasted some money and time, but it’s really not a waste because we really wouldn’t have known otherwise.

You can’t really go online and search for “how to start a flower wall business.” People can’t really conceptualize what it is that we do. It’s new for us, too but I have no problem navigating our own way and doing trial and error every day. I actually enjoy it.

GENAE: I agree with the Ashley and Shay. The three of us move quickly, sometimes without thinking things through fully because we get excited about our ideas. I feel that all our “errors” to date were necessary in the learning process.

NAN: Are there other local startups or entrepreneurs you can reach out and ask questions?

SHAY: We met as a team at the end of 2018 and set some goals for 2019. One of the big ones is relationship building—doing things like reaching out the YUPntwk and connecting with Innovation Destination Hartford. And learning about those resources, really getting out there and introducing ourselves. Because, since we’ve launched, we’ve been building by making props and doing bookings. Now we have to step back and work on the business side of things.

NAN: It’s learning to work on your business not just in your business.

SHAY: Exactly. So, through relationship building, we’ve met a ton of people who provide advice that’s universal and we can apply to our business. And because those connections are so important to us, in the beginning of the year we hosted a luncheon and invited other creatives who do blogging, videography, or modeling. We went around the room and asked them about their challenges and what they’re excited about. There were similarities and things we could apply to our business. But eventually, for the technical questions—contracts, business taxes, LLC—we’re going to need a business coach because we’re scaling a lot faster than we thought we would.

NAN: Speaking of relationship building, I want to talk about the YUPntwk, which is how we connected.

SHAY: Yes, we appreciate that Mallory Mason connected us! We follow YUPntwk on social media. I saw that they’re a hub, kind of like Innovation Destination Hartford. YUPntwk is connected with a lot of different entrepreneurs at a lot of different events, that’s why I reached out to them.

When I reached out, my intention was to find an organization that hosts a heavy foot traffic event where we could sponsor a wall to get some exposure. But I was surprised when I met with Mallory and she asked: What can I do for you? I wasn’t prepared for that! I was planning to offer something, and I walked away getting so much from that connection.

Meeting with Mallory was amazing. She gave me so much insight. We talked about legal issues surrounding our rental contracts, marketing, and public relations—because right now our audience is pretty much people who know us, so we need to reach beyond that. To meet someone for the first time and have them already be invested in our brand and validate what we are doing was invigorating.

NAN: I love hearing stories like that! Aside from planning a physical space, any future goals?

SHAY: Yes. Eventually we want to get to the point where we’re so booked that we’ll need employees—people to do the set up so we can step back out of the business and do the behind-the-scenes work. Right now, we’re focusing on making more connections and getting the word out.

Find out more about Aglow Event Styling

VISIT: www.aglowxo.com
FOLLOW: Facebook | Instagram | Pinterest | Twitter

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UConn Venture Development Helps Foster CT Business Opportunities

February 27 2019 Innovation Destination: Hartford Entrepreneurial Insights 0 comments Tags: Connecticut, CT, startups, Technology Incubation Program, TIP, UConn, University of Connecticut, venture development

Mostafa Analoui (center) is Executive Director of Venture Development at the University of Connecticut.

Mostafa Analoui, Executive Director of Venture Development at the University of Connecticut, spoke to MetroHartford Alliance Content Manager Nan Price about what brought him to Connecticut, his role at UConn, and his involvement with the UConn Technology Incubation Program (TIP).

NAN PRICE: Give us a little background. What drew you to Connecticut and how did you become involved with UConn?

MOSTAFA ANALOUI: I was a tenured associate professor at Indiana University School of Dentistry & Medicine and the School of Engineering at Purdue University in the mid-1990s to 2001.

I had been tinkering with a few ideas that eventually led to the formation of a startup. That was my hands-on way of learning about innovation and entrepreneurship.

Through my research, I worked with some medical device and pharmaceutical companies, including Pfizer, which approached me and invited me to join the company in their in clinical development department in Groton. That’s how I got to Connecticut in November 2001.

As my job evolved, I began working with leading-edge internal and external innovators, as well as global companies, and I learned how to identify and invest in innovative technologies.

With UConn being so close to Groton, the School of Engineering and the School of Pharmacy approached Pfizer several times to seek a relationship. One professor was looking for a summer internship for one of his PhD students, who I took on and mentored. His interests were close to mine. In the three months he was with us, his work led to a patent application and a major publication, which was quite interesting. So, that was my first connection to UConn.

When I left Pfizer in 2008, I moved to New York City, where I became the head of investment banking for Livingston Securities, a boutique investment bank. At the same time, the Schools of Engineering and Business at UConn approached me to help design and teach a course focused on Biomedical Entrepreneurship. I joined UConn in 2012 as an Adjunct Professor, and the Biomedical Entrepreneurship course I helped develop has been offered since then. Different versions of that course are also currently being offered at Northeastern and Brown Universities.

NAN: That was quite a switch.

MOSTAFA: It was quite a switch from starting my career as a full-time scientist and professor in Indiana to working in an investment bank in New York. The entire time, I had maintained my academic connections and continued supervising my Ph.D. students. But it was challenging to fly to Indianapolis on a regular basis. Thus, my active academic relationship shifted to nearby universities, such as Columbia, Massachusetts Institute of Technology, Harvard, Northeastern, Brown, and UConn.

Through this academic relationship and my engagement in the startup/investment community it became evident that there is a need for hands-on courses to give our graduate students a feel for what happens to academic research on the way to becoming a successful product.

That was the core idea behind the Biomedical Entrepreneurship course, which was intended for graduate students from the Schools of Engineering, Medicine, Dental Medicine, Nursing, and Business. This course eventually expanded to include co-directors from the Schools of Business, Medicine, and Engineering. I’m pleased to see that some of the students took their ideas beyond the class and formed three new startups last year alone.

NAN: Tell us how your connection with UConn evolved.

MOSTOFA: I was still with Livingston Securities when, in 2016, UConn created a venture development position, the focus being identifying business opportunities, creating ventures, populating them with the right management team, and helping them get the investment they need.

When they offered me the position, it was a very challenging decision for me to come from an investment banking background to academia. At the end of a lengthy selection process, I wanted to meet with three individuals on campus to help finalize my decision: The Vice President for Research at the time, the Provost and Executive Vice President for Academic Affairs, and the University President. I was surprised and amazed that everyone was on the same page with their missions and goals. And I was convinced it was the right move. Everyone was committed. This commitment continues to grow today, especially within UConn’s Office of the Vice President for Research, which is headed by Dr. Radenka Maric.

That’s what brought me to UConn in October of 2016, when this new Executive Director of Venture Development role was created. In January 2017, the former Director of the Technology Incubation Program (TIP) retired and I was asked to take responsibility for the TIP as well.

The two roles are interrelated and complementary, but not the same. Now that I’m responsible for both, we have removed a lot of barriers in between. I was lucky that solid groundwork had been laid by previous TIP leadership.

Bear in mind that, as a result of venture development, a company could be created at UConn. But that doesn’t mean the company is required to come to the TIP. The company could locate anywhere. Also, the companies we create as part of my venture development role are based on UConn intellectual property. But in TIP, we often have companies coming from outside of UConn. That’s why the roles are complementary, not identical.

The University of Connecticut Technology Incubation Program (UConn TIP) location in Farmington, CT.

NAN: Let’s talk about the ways the TIP is contributing to economic development in the region.

MOSTAFA: First and foremost, the TIP serves as a hub for entrepreneurial activity that bolsters promising businesses, attracts them to or keeps them in the state, and fuels potential economic growth.

A program within UConn’s Office of the Vice President for Research, the TIP also connects entrepreneurs with internationally recognized faculty experts in a variety of fields and provides access to the research infrastructure and specialized equipment that can only be found at a top research institution like UConn. Add to this the customized business support services and a pool of talented graduates who can become future employees, and you can see how invaluable the TIP’s offerings would be for a startup getting off the ground.

Beyond these qualitative benefits, we focus on a few key metrics to attempt to measure the value and impact the TIP brings to UConn, as well as the state of Connecticut.

One metric is the amount of employment created. In 2018, the combination of full-time and part-time employment totaled 193. And these are high-quality, high-paying jobs with high-tech and biotech opportunities.

The second metric is how much money is coming to this ecosystem. This isn’t money from UConn’s budget or the state of Connecticut, it’s money TIP companies raise from venture capital firms, receive in national grants, or create as revenue. And 2018 was a record year—TIP companies raised $114 million from a combination of all these resources. In 2017, TIP companies raised $60 million, which had broken previous records. Overall, based on those metrics, we see a very strong upward trend.

One area where we don’t anticipate seeing significant growth is the number of companies in the program, because we’re limited with space. And there’s not much vacancy, because as soon as space opens, another company is ready to come in. When we reached 98% occupancy last year, we reshuffled the space to accommodate more companies and ensure that the non-performers make room for other ventures faster.

While we’re committed to supporting all our companies, our model prioritizes high-performing startups that meet milestones or are agile enough to find new strategies to be successful. And ultimately, we are an early step for these startups. Our goal is to help them grow and succeed so they can graduate to permanent locations within three to five years. This makes room for the next wave of high-potential companies to join the TIP.

I was very pleased when I read some reports that referred to the TIP as a success story for developing incubators in other Connecticut towns. Others are looking to the TIP as a model to establish similar programs in their areas.

NAN: The companies working out of the TIP aren’t just technology, biotech, or biomedical, right?

MOSTAFA: That’s correct. We aren’t restricted to one sector, although biotech is one of the strong sectors we have here. Our portfolio reflects the multidisciplinary research being conducted at UConn. For the future, we envision diversifying the portfolio. There’s so much innovation happening in our ecosystem outside of engineering and biotech and we want to support that, too.

We’re also actively seeking high-quality external companies to come to our ecosystem, which add value and interact with UConn researchers. Also, the ability of external companies to attract a broader range of investors creates more exposure for our homegrown UConn startups as well.

I want to note that the TIP has two locations, one in Farmington and the other in Storrs. We are also in the early stages of planning for a presence in Stamford, where we will expand this type of programming in the sectors that are stronger in that area, like software, FinTech, and digital media.

NAN: In what ways is the TIP engaging with the entrepreneurial ecosystem in Connecticut?

MOSTAFA: In addition to space that you see in the incubator, we host a number of educational and networking events that are open for everyone in Connecticut—sometimes people from Western Massachusetts and even New York City have attended our events. Often, we bring larger corporations, big investors, and well-established innovators from within and outside of Connecticut to our ecosystem.

Also, we heavily emphasize collaborating with other universities. We’ve developed a program with funding from CTNext in collaboration with Wesleyan University, Quinnipiac University, The Jackson Laboratory, and Unilever that creates compact, hands-on, invitation-only educational modules for busy, top-notch researchers. The idea is to highlight what’s needed for them to transform their concepts into a product. They’re not becoming entrepreneurs overnight, but at least they can learn to understand the process. Plus, our team is available to help them move in that direction.

So, going beyond UConn, we established a lot of collaborations. And we do have other activities that support statewide innovation and entrepreneurship initiatives, including relationships with a broad range of institutional investors, incubators, and universities with strong programs.

NAN: In terms of economic development, entrepreneurship, and innovation, where do you see the future for Connecticut?

MOSTAFA: Despite some of the economic/policy challenges we see in Connecticut, I’m very positive and even optimistic about the future. What we’re doing here at UConn and the Technology Incubation Program is just a small piece of the puzzle, and when collective work by all in Connecticut comes together, we’ll eventually see the fruits of our labor from within the state. Our work at the TIP can be replicated and enhanced in other places, which will have major impact in the future of Connecticut.

Learn about how the TIP is supporting biotech startups and enhancing economic development throughout Connecticut.

Read about startups participating in the TIP:

Azitra Inc. – Serial Entrepreneur Helps Build Scientific Startups
LambdaVision Inc. – Biotech Startup Develops Innovative, Protein-Based Retinal Implant
Mobile Sense Technologies – Innovative Biotech Startup Develops Wearable Monitoring System
Shoreline Biome — Biotech Startup Develops Innovative Sequencing Technique
Torigen – CT Biotech Startup Creates Veterinary Cancer Treatment

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Nassau Re Launches InsurTech Incubator in Hartford

February 20 2019 Innovation Destination: Hartford Innovation 0 comments Tags: Connecticut, CT, Hartford, InsurTech, Nassau Re, Nassau Re/Imagine, startup resources, startups

Nassau Re has launched Nassau Re/Imagine, an InsurTech incubator based in the company’s iconic Boat Building headquarters in Hartford, CT. Nassau Re/Imagine will support selected startups focused in the life insurance, annuity, and reinsurance industries and will provide complimentary office space and business development services.

“We are excited to launch our Nassau Re/Imagine initiative, as Nassau Re looks to be a leader in Hartford’s emerging InsurTech expansion plans. Our industry is changing dramatically, and Hartford’s community and business leaders have created great momentum to attract InsurTech entrepreneurs and lead that change,” said Phil Gass, Chief Executive Officer of Nassau Re.

“Through Nassau Re/Imagine, our goal is to help accelerate Hartford’s transformation as a center for InsurTech innovation by fostering new companies that will continue to attract a new generation of talent to the city and state. Further, Nassau Re will provide a free, convenient and supportive environment for founders to develop strong business relationships with Nassau Re and other carriers in the area,” Gass said.

Nassau Re developed the incubator program in cooperation with the City of Hartford and Connecticut Innovations.

“Nassau Re’s decision to launch an incubator is another major step forward in our mission to make Hartford a global destination for InsurTech innovation,” said Hartford Mayor Luke Bronin.

“Nassau Re/Imagine demonstrates that there’s tremendous interest in our Capital City from entrepreneurs who are at the cutting edge of the insurance industry. I want to thank Phil Gass and the entire team at Nassau Re for their commitment to Hartford and for being part of the growing innovation ecosystem we’re building here,” he added.

“Hartford continues to evolve into an InsurTech hub and premier insurance companies, like Nassau Re, are leading the charge by supporting startups in the ecosystem,” said Matt McCooe, CEO of Connecticut Innovations. “This incubator will help attract companies to Connecticut and forge stronger relationships between corporates and startups. This is an innovative and exciting new venture by Nassau Re’s executive team.”

Nassau Re will contribute up to 48,000 square feet over the next three years to support Nassau Re/Imagine. The workspace will have flexible, open space configurations to accommodate different sizes and types of businesses. In addition, the startups will receive legal, human resources, and business development support. The Boat Building is a modern architectural landmark listed on the National Register of Historic Place and has been recently modernized.

Nassau Re/Imagine has earned praise from local leaders.

“This is an incredible investment of talent, expertise and real estate by Nassau Re—their commitment to Hartford and the future of the insurance and financial services industry is incredible,” House Majority Leader Matt Ritter said. “Nassau Re/Imagine will spark innovation and continue Hartford’s renaissance.”

“I thank Nassau Re for facilitating Hartford’s ever-evolving InsurTech industry that will be the catalyst for new businesses and good paying jobs,” said Julio Concepcion, State Rep (4th District) and Executive Director of the Hartford Chamber of Commerce.

Nassau Re/Imagine is currently accepting applications for the program, led by Paul Tyler, Chief Marketing Officer for Nassau Re. For more information, contact ptyler@nsre.com.

Learn more about Nassau Re

VISIT: www.nsre.com
FOLLOW: Facebook | LinkedIn | Twitter

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CT Startups Receive $44K at CTNext Entrepreneur Innovation Awards

February 06 2019 Innovation Destination: Hartford Awards 0 comments Tags: Connecticut, CT, CTNext, entrepreneurs, innovation, startups

CTNext announced the winners of the Entrepreneur Innovation Awards, which were held January 31 at Real Art Ways in Hartford, CT.

Following presentations from 10 finalists, the judges awarded $10,000 grand prizes to:

Payball – Norwalk, CT: Developing an easier, digital way for amateur sport organizations to pay officials, event staff and coaches.
Peak Performance Leadership – Killingworth, CT: Creating a variation on a rope protection system for military and first responders to increase product lifespan.
Raise Green — New Haven, CT: Creating a crowdfunding portal to finance renewable energy and climate solution projects.
YouCOMM – Farmington, CT: Developing a patient-caregiver communication system that will replace antiquated call bell systems.

In adition, Lactation Innovations, a Canterbury company developing a non-invasive sensor that detects the volume of milk a baby ingests and provides feedback to the mother, won the $2,000 Crowd Favorite award, while Secure Election Systems of Westport, a startup developing an iPad-sized electronic absentee voting booth, took home the $2,000 Judges’ Favorite prize.

“The Entrepreneur Innovation Awards continue to showcase some of the most innovative and promising young companies across the state,” said CTNext executive director Glendowlyn Thames. “We’re looking forward to following the progress of the companies that took home awards and wish all the competitors the best as they work to advance their ideas and visions.”

The six Connecticut-based companies were among 10 startups that presented their project ideas to a panel of judges for an opportunity to secure $10,000 awards to help support business growth.

About CTNext

CTNext is a Connecticut-based resource for entrepreneurial support. The goal of the program is to build a more robust community of entrepreneurs and to accelerate startup growth by providing access to talent, space, industry expertise, services, skill development, and capital to foster innovation and create jobs for people in Connecticut. CTNext launched in 2012 and has more than 1,500 members in its network.

VISIT: www.ctnext.com
FOLLOW: Facebook | Twitter

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Serial Entrepreneur Helps Build Scientific Startups

January 28 2019 Innovation Destination: Hartford Entrepreneurial Insights, Incubators 0 comments Tags: biotech, biotech startup, Connecticut, entrepreneurs, innovation, startups, technology, Technology Incubation Program, TIP, UConn, University of Connecticut

Azitra Inc. is one of many biotech startups working out of the University of Connecticut Technology Incubation Program (TIP).

Azitra collaborates with scientists from Yale University, The Jackson Laboratory, and the University of Connecticut. The company’s work is supported by National Institutes of Health (NIH) grants, private grants, and investment from Bios Partners, Connecticut Innovations, KdT Ventures, and Breakout Labs.

Richard Andrews is CEO of Azitra Inc., a biotech startup participating in the University of Connecticut Technology Incubation Program (TIP).

Innovation Destination Hartford spoke with Azitra CEO Richard Andrews about his involvement with Azitra and what it takes to get a biotech company up and running.

NAN PRICE: This isn’t your first science-related startup.

RICHARD ANDREWS: I’ve been involved in startups since the 1980s. Startups are exciting because they challenge every aspect of your skills. You’re developing teams, finding great science and scientists, forming the business strategy and plans, finding funding, charting milestones, and then patching it all together to help the team build the science.

You have to have great science, of course. But, I’ve always said what makes a successful company isn’t always the science, it’s how hard you’re willing to work and how creatively you can execute your operation and plan. And having a clear plan and a network of advisors to help you is imperative.

NAN: Tell us about your entrepreneurial experience. How many startups have you worked with?

RICHARD: This is my sixth. My background is physical chemistry and chemical engineering. I got a master’s degree from the Massachusetts Institute of Technology (MIT) in the early 1980s and then went into technical consulting at Arthur D Little. That experience helped me understand how to pair up science with effective business strategies. Shortly after that, I became the head of business development at a high-tech bio-materials company because I liked connecting great science and discoveries with practical utility.

I ultimately ended up running a couple biotech divisions. In the 1990s, I worked with a company that came out of the University of Massachusetts to help launch BioSave, a microbiome product that protects fruit and vegetables in a natural way. It’s still on the market. It’s not too different from what Azitra is trying to do, except we are conducting a lot more rigorous science, which is typical today.

Every time you do something like this, you push yourself one step more. When I started, I was a scientist and then I focused on linking the science with practical use. And then the next step is to figure out how to manufacture it.

Each step in that process, you try to push yourself to understand a little more. You don’t become an expert, but eventually you fully understand the impact of all those things—packaging, shipping, manufacturing, and quality.

And, if you’re really smart—and I’m trying to be—you find the people who know how to do those things better than anyone else and you bring them in. I’m not an expert at any one of those steps, but I do know people who are! So, the job of an entrepreneur in the life science industry is to recognize value in science, understand all the things it’s going to take to turn the science into something real, and then bring in all the experts to orchestrate the process. It’s like you’re a conductor. And it’s so much fun!

NAN: When and why did you become involved with Azitra?

RICHARD: I’ve been with Azitra for about a year. The company was started in 2014 by two Yale students who wanted to develop and understand how to use the microbiome on skin to improve skin conditions and treat skin diseases. The founders worked in a small offsite facility in New Haven through 2015. And then, in 2016 they connected with Jackson Labs, which has a world-class research group focused on the microbiome.

NAN: Tell us about Azitra’s involvement with the TIP.

RICHARD: Jackson Labs is across the road from the TIP. In 2015, the founders became engaged with the TIP and opened their first lab here. Then, in 2017, Azitra expanded to two labs.

The TIP helps facilitate the discovery and the creation of the assets and elaborate the science. And it does it a marvelous way. This is one of the best incubation programs I’ve ever been in. You get tremendous support here.

NAN: Let’s talk a little more about Azitra’s evolution.

RICHARD: When the founders created the company’s core technology, things started happening. Networks of people and scientists started paying attention to what they were doing.

When this happens, you get to the first transition in a company, where you say: The science is looking good. How do we translate that to product concepts and definitions so we can take the core discovery and define a development process?

At this point, you’ve still got a lot of research to do. You still have many questions to answer. But you need to have a process. And that’s very different than academic research, where you explore things.

Many times, an academic will conduct every step of the science. Whereas a company like Azitra will focus on the science and then bring in someone like me, who will start subcontracting to contract research organizations (CROs) to accelerate a development plan.

NAN: Is that how and why you became involved, because you have experience?

RICHARD: Yes. I was brought on to help with that first translation to take us from discovery to product focus. In the beginning, Azitra’s founders had an excellent concept and today the company has a very focused product strategy. And that extends from manufacturing all the way through packaging, formulation, targeting, commercial work, and understanding what the customers need. In our case, that involved talking to the dermatologists. You have to address the full spectrum so you can refine and define your product plan.

And then you build a strategy that takes you step-wise through the process. You have to stay disciplined and focused while you’re sustaining the creativity. That’s a balance we’ve been going through for about a year. And we will keep going through that. It never ends.

The next step is manufacturing—knowing we can manufacture the product with Good Manufacturing Practices (GMP) quality that can get through the U.S. Food and Drug Administration (FDA). We already know the dermatologists want it, so there’s a customer need. We know how it’s going to perform. We know its mechanism of action. All those important factors have come together.

So now we say: How do we become a company? And how do we build identity around that? Because now it’s much more than the science. Now it’s a clinical team that’s going to execute clinical trials. It’s a group of people with regulatory expertise that’s going to shepherd us through the FDA. It’s quality assurance people who are writing our technical reports and ensuring every step of the science is perfect.

I have to go through that process with the scientists all the time. How do we take discoveries, make sure they’re in our lab notebooks, and then translate that into technical reports? Because technical reports are real products where we have firmly documented technical success.

Those reports become our property, which must be documented. And that becomes core assets. And from those core assets we build patents. It sounds complicated but understanding how it all flows together is a very structured process.

NAN: Where are you in this process with Azitra?

RICHARD: Right now, we have built most of the foundation. My next job is to convert this from a real, tangible opportunity to a company. Because we’re not trying to build a piece of science I’m going to sell. We’re trying to build a company that has value. Value is created when you follow a fully articulated process from discovery through product manufacturing.

Innovative startup Azitra works at the University of Connecticut Technology Incubation Program location in Farmington, CT.

We’re going to move to our next step in the creation of a company as soon as we close the next financing. That will be part of the process, because our evolution will take us from what we have now into the clinic. When we get into the clinic, the company is going to need clinical folks who will also need support with administrative, quality assurance, and regulatory issues. Some of those I will manage through contracts, and some of them I will hire. That’s how you build a company.

The TIP is an invaluable research facility but doesn’t handle that, and it shouldn’t. I’ll continue to build and value that research, but I’m going to take the next step with the clinical as the lead.

Right now, we’re setting up a clinical trial. We’ll need to set up a data safety monitoring board (DSMB), which will be a collection of physicians and biostatisticians who will review the clinical data. I hope to draw from the dermatology group at UConn to help populate the board. They’ll report back to us as to whether the trial should continue, or we need to make adjustments to ensure the patients we treat are always safe.

With regard to Connecticut resources, we have tremendous support financially and for our auditing and there are talented legal teams in Connecticut we can draw from. We just concluded a financing with Connecticut Innovations. We’re very pleased to have them as an investor.

NAN: What types of startup challenges has Azitra encountered?

RICHARD: There are always scientific challenges. Science never works as anticipated, so you always have to look critically at what the science is telling you. You have to let the facts dictate the process.

Sometimes you fall in love with your strategy and don’t pay enough attention to what your science is telling you. And that will bring you down the wrong path. That’s where science advisory board members are so valuable. Their critique is invaluable because they accept nothing based on assumptions. They’re looking for facts. And that keeps you on track.

The other challenge is mapping out a patent strategy. Microbiome is a new space, and many of the people who are focused on the microbiome came to it out of a fervent belief in natural and biological—they didn’t come to it with the background of building a business that’s going to make money.

Belief and passion are good, but then you need to figure out: How do I establish proprietary positions? How do I establish control over the manufacturing, formulation, and ownership structure so that when we make a product we get paid? How do we create value for investors? How do we build a business?

And that requires a real focus on the process. When you do that, you question: How do I own the channel? How do I make scientific discoveries in formulation, delivery, manufacturing, utility, and application that enable me to own it? How do we stake out our own turf that gives us a strong patent position and a proprietary position in our field?

It’s not an unfair competitive advantage, but it’s clearly a competitive advantage. And that is a creative challenge.

That’s my job—to take this nascent science and technology and create robust science that can serve the world. It starts with a great idea. But that great idea is just the first step. It’s a great idea that must be refined and structured and made operational in a way that benefits people worldwide.

Learn more about Azitra Inc.

VISIT: azitrainc.com
FOLLOW: LinkedIn | Twitter

Find out more about activity at the University of Connecticut Technology Incubation Program (TIP)

Learn about how the TIP is supporting biotech startups and enhancing economic development throughout Connecticut.

Read about startups participating in the TIP:

LambdaVision Inc. – Biotech Startup Develops Innovative, Protein-Based Retinal Implant
Mobile Sense Technologies – Innovative Biotech Startup Develops Wearable Monitoring System
Shoreline Biome — Biotech Startup Develops Innovative Sequencing Technique
Torigen – CT Biotech Startup Creates Veterinary Cancer Treatment

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Spaces Readies West Hartford Co-Working Debut

January 23 2019 Innovation Destination: Hartford Co-Working 0 comments Tags: businesses, co-working, Connecticut, CT, Greater Hartford, startups, West Hartford

This Q&A talk with Michael Berretta, Vice President of Network Development at IWG and owner of co-working brands Spaces and Regus, originally appeared in the Hartford Business Journal January 14, 2019.

HARTFORD BUSINESS JOURNAL: Spaces is set to open a new co-working location in West Hartford’s popular Blue Back Square in February. Why did you choose this location and what will the new space entail?

MICHAEL BERRETTA: West Hartford is a hub for established businesses and the town is currently seeing a rise in startups. Because of this, there is an increase in demand from businesses of all sizes looking for flexible working space.

The Blue Back Square location (71 Raymond Road) was the ideal location for the Spaces Connecticut debut. The neighborhood combines top restaurants and retailers with a thriving business community.

At the Spaces West Hartford location, the private offices, dedicated desks, open-area business club, and fully equipped meeting rooms provide a wide variety of working scenarios. Members can utilize different work areas based on their evolving business needs.

HBJ: There’s been a significant increase in co-working spaces in Greater Hartford. Why is this office trend so popular right now? Are you worried about an oversaturation of the market?

MB: According to a recent survey from IWG, Spaces’ parent company, 84% of U.S. respondents feel flexible working helps them create a presence in new markets. The Blue Black Square Spaces location will help meet this demand.

The co-working industry is experiencing such growth right now mainly due to the plethora of benefits it offers companies, including: providing businesses the ability to scale up or down in new markets; offering less commuting time to employees, which improves their work-life balance; and giving companies an opportunity to network at a central location with other Spaces tenants.

We only enter new markets where we know we can meet the demand for new and existing clients.

HBJ: Is there anything that will be offered at the Spaces co-working location that is unique, or not offered by other traditional co-working sites?

MB: A key differentiator for IWG is the diversity in the geographies we operate in, the type of companies we work with and the offerings we provide.

Spaces originated in Amsterdam and exploded into the U.S. co-working scene in 2015. Since that time, it has built up an expansive portfolio spanning the globe.

The company currently has more than 50 co-working spaces in the U.S. And, as part of the IWG network, members have access to more than 3,300 locations in over 1,000 cities across more than 110 countries.

Scale is important for our customers who can work from anywhere.

HBJ: What types of businesses are you hoping to attract? What are the contract terms of rental spaces?

MB: Spaces works with all types of clients from startups to small- and medium-sized enterprises to large multinationals, including Uber and Microsoft.

Whether it be the startup looking for an agile space to network and attract talent, or a large conglomerate looking to scale their workspace without locking in to a long-term, rigid real estate agreement, we offer something unique to every client type.

The benefit of co-working is that there is flexibility in contract terms. Companies are not bound by long-term leases and they can expand and contract quickly based on their business needs.

HBJ: Does Spaces plan to open other Connecticut locations?

MB: Connecticut will continue to remain a key growth market for us and we see lots of opportunities to expand our presence within the state.

HBJ: How do you see the co-working trend evolving over the next five years?

MB: Our sister company, Regus, just recently announced the results of its economic study, which predicts a boom in flexible working that could contribute up to $4.2 trillion annually to the U.S. economy by the year 2030. We see the industry continuing to grow because the personal and strategic benefits for people and business are so strong.

Learn more about Spaces West Hartford, Blue Back Square

VISIT: www.spacesworks.com/west-hartford/blue-back-square
FOLLOW SPACES: Facebook | Instagram | Twitter

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The Stark Building Encourages Businesses to Start, Grow, and Stay in Hartford

January 03 2019 Innovation Destination: Hartford Initiatives 0 comments Tags: business growth, Connecticut, CT, Hartford, startups

The Stark Building at 750 Main Street in Hartford, CT.

Innovation Destination Hartford Website Curator Nan Price visited The Stark Building at 750 Main Street in Hartford and spoke with Adam Stark, President of Stark Office Suites, about the importance of supporting a community of business owners in Hartford.

NAN PRICE: Stark Office Suites has 11 different locations throughout New York and Connecticut. Why did you choose to create a presence in Hartford?

ADAM STARK: Our other locations focused on the individual “executive office suite” market, which are mostly one- to four-person businesses. We served a few larger companies and some satellites, but we’ve mostly been focused on the smaller side.

One of the things we saw with a lot of growth companies is, they would move in and it worked out well and they loved it. But, as they continued to grow, we couldn’t scale them in a meaningful fashion and the relationship would ultimately come to a natural end.

We stay in touch with our clients and many would tell us they missed a lot of the things Stark Office Suitaes provided. They wished there was a solution that made sense, so they could have continued to grow with us.

That got me thinking: It would be nice if we could provide something that would enable us to follow a company’s growth cycle. That’s challenging to do that when you’re a tenant subleasing space. The economics don’t make sense. In all our other locations, we’re a large tenant, but we’re still a tenant in a building.

I realized to be able to expand the concept, I needed to own a building. I spent a lot of time researching buildings. Since most of our locations are in metro New York, I started in that area, but I couldn’t find the type of building I was looking for. At one point, my broker asked if I’d thought about Hartford? I hadn’t. I said: Why not take a look?

When I came to see Hartford and saw this building, they both were much better than I expected! I liked what was going on with downtown. There’s an energy here. It felt like a city that was in transition.

This building at 750 Main Street was noteworthy for a few reasons. It’s a 130,000 ft.² building with 102 suites. It was set up the way I wanted a building to be set up, with a lot of small floor spaces and small interlocking suites, which would enable us to accommodate companies in different growth phases. You could add and subtract and move people around.

It seemed like there was a real opportunity to restore the building into something special. There really was really nothing else like it in Hartford. I thought I could accomplish what I wanted to accomplish, which is to be able to provide our offerings not just for single offices, but all the way up to larger 8,000 to 10,000 ft.² spaces.

NAN: When did you purchase the building?

ADAM: November 15, 2017.

NAN: One of your goals was to create a home for new, emerging businesses.

ADAM: Yes. This building seemed like it could be appealing to a broad range of startups, particularly tech startups. We can take away some of the challenges businesses face when they’re starting out. We do our own managed networks. That makes it appealing for startups to be able to come in and have everything set up for them, so they can focus on developing their products or services.

NAN: What types of companies are located in the Stark Building in Hartford?

ADAM: We’ve got a variety of organizations including a few not-for-profits, some tech companies, and several midsize law firm as well as individual attorneys. We focus on anything from a single office up to 8000 ft.², that’s our niche.

On the real estate side, we’re not just renting a space. Having space ready for use is not the same thing as having the space available. We can make the spaces move-in ready and expand with companies.

All our locations are equipped with state-of-the-art technology—but also have a traditional flair, because the people we often appeal to like something classic. This building, before we got here, was old. We wanted to convert old into classic.

The other thing is, we give our tenants access to our other locations. For example, if a tenant wants to hold a board meeting in New York City, we have 10 conference rooms at our suites across the street from Grand Central Station.

We don’t just cater to the tech-type startups, but professional startups. Many professionals are breaking away and starting their own companies. They’re entrepreneurs too. If you’ve been part of a law firm and you’re going out on your own and starting your own practice, you are creating something.

These professional practices aren’t going to be the next Amazon—that’s not what the plan is for them. Not everyone can be and not everyone wants to be. A lot of people just want to have their own operation. I can relate to that. I wanted that.

NAN: How so? Tell us a little about your entrepreneurial experience.

ADAM: I worked in the mergers and acquisitions industry for several years, which was great. I got to see a lot of different types of businesses. I got to see what worked and what didn’t; what was valuable and what wasn’t.

In 2004, I had an opportunity to take my chips off the table and try something different. I live in Westchester County, New York. At the time, I noticed White Plains was starting to undergo a rebirth and I wanted to figure out how to get involved with it.

I thought it would be interesting to provide a place for professionals to set up shop. That concept isn’t unique. But generally, the focus had been on providing a temporary solution.

Well, what if instead of it being a temporary solution, it was a community? When you’re out on your own, it’s lonely. I thought it would be nice to create an environment where there were colleagues without being an employee or co-worker. I wanted to try and create something that was higher-end, where people would feel comfortable and they would feel there were folks in similar types of professions around to develop a community feeling.

I started out with a 7,200 ft.² building that was probably the emptiest building in Westchester county at the time. I remember thinking: This is either really smart, or really dumb and I’m going to find out soon!

Fortunately, things worked for the city, the building, and us. And it grew out from there.

NAN: According to your website, your tenants “become part of our unique networking community that encourages entrepreneurship and business growth.” In what ways?

ADAM: We host community events throughout the year where our tenants can network. But we found the events aren’t what creates the community—it’s the people in the building.

We realized, aside from our orchestrated events, people were really developing the community around the kitchenette or by the water cooler.

Our spaces start to develop a life of their own. I can’t tell you how many people have done business together by being neighbors—whether it’s a real estate attorney who met a developer on another floor, or an emerging tech company who got to know the accountant down the hall.

That’s what we’re hoping to develop here in our Hartford location—the sense of building community. We also use social media to help our tenants get to know one another. We’re careful to balance community with privacy.

NAN: How are you marketing and making people aware of the available space?

The lobby at the Stark Building in Hartford, CT.

ADAM: Some quality tenants were already here when we came into the building. Our goal has been to try and populate the rest of the building with vibrant, growing businesses.

We’re marketing through brokers and online directly to try to create a presence. The focus has been not so much occupancy percentage, but life. How do we get more people in? Because people beget people.

The challenge in all our locations is getting that critical mass going. Once you have the critical mass, people have friends, they bring in people, it all feeds on itself.

NAN: Let’s talk about the importance of fostering entrepreneurship here in Hartford.

ADAM: My feeling is that for Hartford to continue to develop, it has to attract a diverse group of people and organizations.

If there are different types of businesses that all want to be downtown, it creates a fabric where people feel it’s desirable to be here because there are other businesses they want to do business with here. It creates a whole ecosystem of people doing business with one another—people meeting in local coffee shops and going to restaurants downtown.

I think on the professional side, that’s where The Stark Building could play a role, by creating another home in downtown Hartford that could cater to these types of businesses. And, as these businesses continue to grow, they wouldn’t have to leave Hartford.

My thought was that this building would maybe thread that needle for businesses to start here—and want to stay here. It’s also a place for them to grow in Hartford and continue to become part of the community.

Learn more about Stark Office Suites and The Stark Building

VISIT: starkofficesuites.com and starkofficesuites.com/hartford
FOLLOW: Facebook | LinkedIn

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CT Startup Lifestyle Brand Empowers People to Do Good