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Governor M. Jodi Rell today announced that six more start-up technology companies have received a financial boost through the Connecticut Small Business Incubator Program. Governor Rell announced aid to eight such start-ups in August.
The Small Business Incubator Program (SBIP) was developed in 2007 to further the work of small, technology-based firms. These start-ups have the potential to create new jobs and new economic opportunity for the state.
"The focus on keeping and growing jobs - especially in high-growth sectors such as high-technology businesses - is all the more critical because of the national economic slump," Governor Rell said. "These are smart, targeted investments that have the potential to pay off handsomely for the people of our state.
"We certainly understand the financial risk and responsibility involved when trying to start a business from scratch," the Governor said. "This program fosters innovation and accelerates the growth and success of Connecticut's high-tech sectors. Our support for these companies shows just how committed we are and how important high-tech entrepreneurial businesses are to the state."
The SBIP recognizes that incubator companies have a strong likelihood of success. According to National Business Incubation Association, 87 percent of incubator companies remain in business and 84 percent remain in the community.
The grants are offered by the Department of Economic and Community Development and administered by the Connecticut Center for Advanced Technology, Inc.
The grant winners:
- AllerQuest, LLC's mission is to develop skin test reagents to safely and accurately identify patients who are at risk for potentially life-threatening reactions to penicillin antibiotics. The company is working to bring the allergy diagnostic product PRE-PEN to market. Its $50,000 grant will be used to obtain support for fulfilling the necessary requirements of the FDA to establish a certified manufacturing facility. AllerQuest is a participant in the University of Connecticut's Incubation Program (TIP) in Farmington.
- Catelectric Corp. is an early stage company with a mission to develop products for the clean energy markets like fuel cells and pollution control based on its proprietary platform catalytic process technology. Catelectric processes provide an effective set of methods for controlling the type and number of areas where chemical reactions occur. Catelectric intends to use its $50,000 grant to purchase specialized equipment and file new U.S. and International patents. Catelectric is a member of UConn's TIP.
- Hydrogen Safety of East Hartford is an engineering consulting company that addresses the key barriers to hydrogen commercialization. Its $50,000 grant will be used to market a new "Hydrogen Your Way Reference Service." The service is an Internet-based training and education forum designed to provide information critical to companies and individuals that are involved with emerging hydrogen technologies. Hydrogen Safety is a participant in CCAT's technology incubation program in East Hartford.
- Quadra-Aerrow International was established to design, develop, and manufacture small aircraft engines for remotely piloted vehicles. Its technology focus is on developing engines for the Unmanned Aerial Vehicle (UAV) market that run on heavy fuels rather than standard gasoline. Its $32,500 grant will be used for development of a heavy fuel prototype engine. Quadra-Aerrow is a participant in CCAT's business incubation program.
- Revegen, Inc. of Farmington is pursuing a new, innovative approach in drug discovery research built on a proprietary pdiCAD technological platform. The company has developed a variety of tools and methods that accelerate discovery of small molecule drugs based on principles of molecular recognition between therapeutic agents and protein targets. Revegen's $50,000 grant will be used to license patents, testing and research and prototype product development and purchase of special equipment. Revegen is in UConn's TIP.
- The Center for Network Centric Product Support Research (NCPS) has been established to research, develop and build prototype information management solutions that apply NCPS principles. NCPS is an information technology architecture that has been under development since the 1990s. Using technology that is licensed from Pratt & Whitney, the company is taking the concept of Network Centric Operations for warfare and applying it to the aircraft industry for field maintenance, factory operations and supply chain logistics. A $42,000 grant will be used to development a brand and a business plan, and to defray the cost of prototype demonstrations. NCPS is a participant in CCAT's incubation program.
For more information about the SBIP, visit CCAT's Web site at www.ccat.us. CCAT is a non-stock, tax exempt corporation that works in partnership with industry, government and academia to strengthen technology-led economic competitiveness.
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