In an attempt to improve the state’s economic climate, Gov. Dannel Malloy announced last week that the state will invest $250 million in startup technology companies over the next five years.
The money is set to come from both the state and Connecticut Innovations, the state’s quasi-public authority responsible for technology investing. The funds will then be distributed to both high-tech startup companies and other firms that assist startups in an attempt to make capital more widely available and fostering business-friendly environments, especially around universities.
“Small business ventures really provide the best potential for economic growth in the short and long term,” said Jim Watson, a spokesman for Connecticut’s Department of Economic and Community Development. “It’s about these three things: innovation, entrepreneurship and startups.”
To read the full, original article click on this link: Connecticut invests in startups | Yale Daily News
