Pre-Seed Support Services Program Announces First Client

The Pre-Seed Support Services Program, launched just three months ago, is off to a strong start.  Connecticut Innovations (CI) recently announced that Equity Health Partners LLC (EHP) of Chester, Connecticut, became its first official client under this program.   

EHP, established in 2006 to provide business strategy and technology consulting to physician organizations, came to CI seeking help in accelerating the development of an innovative concept for a web-based software service that would enable health care providers, payers and purchasers to design and implement clinically integrated quality improvement (CQI) and Pay-For-Performance (P4P) programs. After reviewing the company’s product concept and domain expertise and evaluating the product’s market potential, CI committed financial and in-kind assistance to EHP through the Pre-Seed Support Services Program. 
 
On the heels of EHP are other entrepreneurs and entrepreneurial companies that wish to be considered for support under the new program.  CI has already received numerous inquiries for assistance.

CI’s Pre-Seed Support Services Program was designed to help innovative, high-technology entrepreneurs develop companies in Connecticut.  The CI team provides mentoring, coordination of services and funding for business assistance that will prepare the technology company for future investments.  The services that entrepreneurs may access through the program are wide-ranging and include:  intellectual property reviews, technology reviews, business plan development and reviews, market analysis, market entry strategy development and other related services.

“This program has been extremely well received by entrepreneurs and other venture capital firms because it fills an important gap in the business development cycle, namely moving from an idea to a viable business opportunity,” said Charlie Moret, managing director of business development.  “We chose EHP as our first Pre-Seed client because the company had a compelling business idea, a strong management team, and was at a stage where we could significantly accelerate its success.”     

Peter Longo, deputy director of CI, commented, “Through this innovative program we are broadening our scope of initiatives – assisting entrepreneurial companies earlier in their life cycle.”  He added, “In doing so, we are enriching the state’s entrepreneurial environment, strengthening its pipeline of emerging tech-based companies and having a greater overall impact on the technology community.”

Portfolio News

CYA Technologies Introduces New Product

In June, CYA Technologies of Shelton, Conn., announced the availability of its newest product, CYA SmartRecovery™ version 2.0 for IBM FileNet P8.  This product is the only solution providing live, discrete recovery of content and its associated metadata in minutes with no FileNet P8 downtime.  The version 2.0 product includes new features and functionality designed to provide expanded information capture capabilities, identify repository corruption and minimize recovery times. 

CYA is the leader in solutions ensuring the integrity, discrete recoverability and asynchronous replication of information within enterprise content management (ECM) repositories.  www.cya.com

Ipsogen Inc. Celebrates Opening of North American HQ in New Haven

A hint of Marseille was in the air and in the hors d’oeuvres served at the July 18 celebration of the opening of Ipsogen Inc. at 300 George Street in New Haven.  Ipsogen Inc. was recently established in Connecticut as the North American corporate headquarters of Ipsogen SAS of Marseille, France.

Ipsogen is a life science company focused on the development and commercialization of molecular diagnostic tests that help oncologists determine the effectiveness of cancer treatments and guide therapeutic options.

At the opening celebration, Ipsogen Inc.’s founder and chief operating officer, Stephane Debono, made a presentation covering the history of the company, its products, and a summary of the funding raised to date, with special thanks given to Connecticut Innovations (CI) for its recent investment in the company through the Eli Whitney Fund. www.ipsogen.com

The photo on the right was taken at the opening of Ipsogen's New Haven office. From left to right are Dejan Drljaca, Product Specialist – North America Oncodiagnostics; Krishnan Nandabalan, Ph.D., Business Development Consultant; Stéphane Debono, Chief Operating Officer; Russell Tweeddale, CI Managing Director of Investments; and Lori Oakes, Office Manager.

Nufern Announces Release of Its First Industrial Fiber Laser Product

In June, Nufern, a leading supplier of laser fibers and fiber-based amplifiers and lasers worldwide, announced the release of the company’s first complete, fully functional industrial fiber laser, known as the NuFIRE™ laser.  The announcement was made at the LASER 2007 World of Photonics exhibition in Munich, Germany.

The NuFIRE™ laser is a complete, high-performance 200-watt ytterbium fiber laser system designed to offer unprecedented flexibility and ease of use. Nufern believes that the NuFIRE laser, with its new capabilities, will streamline the process of adopting laser-based materials processing in manufacturing environments. www.nufern.com 

Perimeter eSecurity Named to 2007 Fast Growth 100 List

Perimeter eSecurity, a provider of complete security on demand, this summer announced that it has been honored by the CMP Channel’s CRN as a 2007 Fast Growth 100 solution provider.  Perimeter eSecurity has shown a revenue growth rate of 95.48% over the past two years.  Perimeter’s Channel Partner program plugs VARs, resellers and integrators into a Complete Security On-Demand platform of over 50 security services in the areas of: Vulnerability Defense, Intrusion Defense, Network Defense, Email Defense, System Defense, and User Defense, with no CAPEX investment requirement.

A reception honoring all those awarded a place on the 2007 Fast Growth 100 list will take place September 18 in New York City.

CRN is a publication that provides solution providers and technology integrators with crucial IT information and analysis.  CRN’s Fast Growth 100 award winners are recognized solution providers selected for their ability to drive industry-leading sales volumes and use innovative methods to grow their business through services-oriented technology offerings. www.perimeterusa.com

Perimeter eSecurity Closes $50 Million Financing

At the end of July, Perimeter eSecurity, a provider of complete eSecurity on demand, announced that Goldman Sachs had invested $50 million in the company.  Part of the investment will be used in a stock buyback program and part will be used to accelerate the company’s growth.  CI will participate in the stock buyback program by exercising warrants and selling a portion of its shares back to the company. www.perimeterusa.com

National Beta Test Initiated for RemoTV Service

RemoTV is a company offering a unique cellular entertainment platform.  Through its media-streaming technology, a broad array of content can be wirelessly broadcast from a member’s PC to web-enabled cell phones or other Internet-connected devices.  Video, music and picture files are supported.  Members can share their channels and can view content posted by other members.  In addition to user-provided content, RemoTV has partnered with several companies to provide news and entertainment to its members.

The RemoTV service – one that allows members to access and share their personal media library through their cell phone or a web browser – is currently being beta tested by hundreds of users nationwide.  These users have been given access to the service and will supply valuable feedback to RemoTV Inc. of New Haven, Connecticut.  Once the company has finished its load testing, built out its second data center and completed its new web portal, additional users will be encouraged to subscribe to the service.  To apply to participate in the beta test program, visit www.remotv.com. 

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Message from the Deputy Director

This month has been an eventful one for Connecticut Innovations (CI), with the appointment of a new chairman of the board, Edward (Ned) Bowman, Jr, and departure of our former chair, Elaine Pullen.

I would like to take this opportunity to recognize both individuals.  First, on behalf of the CI staff, board of directors and committees, I would like to thank Elaine Pullen for her outstanding service as CI’s chair over the past two and a half years.  During a time of change and challenges for the organization, she was a dedicated, energetic and enthusiastic supporter of CI and its mission and advanced the organization in a number of important ways.  She led CI’s development of a comprehensive 4-year strategic plan; with a goal of achieving “good governance,” reorganized CI’s board, instituting many best practices adopted by successful public companies; and successfully brought together and enhanced communications among the state’s technology Alliance organizations.

On a personal note, I would like to add that it has been a pleasure working with Elaine.  We all wish her well in her new role as a business consultant providing strategic advice to emerging companies.

We are pleased that Ned Bowman, a resident of Southbury, has joined the CI team and welcome him on board as our new chairman.  Ned’s experience as an entrepreneur and small business owner will be extremely valuable to CI, as will his understanding of the energy sector, which is one of our technology focus areas.  He is the former owner of Village Oil Co., a home heating oil business, the founder of a heating and air conditioning company and a board member of the independent Connecticut Petroleum Association.

We look forward to working with Ned and, under his leadership, ushering CI to the next level – fulfilling its role of financing and promoting technological innovation in the State of Connecticut in new and expanded ways.

Peter Longo
Deputy Director
Executive Vice President and
Chief Investment Officer

Staff Spotlight – Lynne Lewis

Lynne Lewis, administrative assistant, has supported a number of teams at Connecticut Innovations (CI) – most recently, in her current assignment, the Connecticut Clean Energy Fund (CCEF) team dedicated to increasing Connecticut’s installed clean energy capacity. Before becoming a CCEF staff member earlier this summer, she provided administrative support to CI’s investment team and handled purchasing functions for the organization.

“Connecticut Innovations serves an important role for the State of Connecticut.  Contributing to our state’s technology growth is no small accomplishment—it helps businesses, increases job growth, and benefits residents and communities in a variety of ways. I am proud to be a part of that.”

Prior to joining CI in 2005, Lynne worked in diverse areas in the corporate environment for several years.  One of her previous positions was that of program administrator for Aetna's Fleet Car Safety Program.  She also served as a consultant in the company's Ergonomics Consulting Department.

When outside of the office, Lynne enjoys volunteering in the community.  She has helped out in various capacities for a number of organizations and groups including the Juvenile Diabetes Research Foundation, Connecticut Valley Girl Scouts, Community Involvement Team at JFK Elementary School and Windsor Giants midget football cheerleaders.

Staff Spotlight – Pauline Murphy

As director of investments, Pauline Murphy has worked with a variety of entrepreneurial, technology-oriented companies in Connecticut, evaluating their growth potential, ushering them through CI’s investment process and serving as a valued resource and advisor.  Most recently she led CI’s investments in Environmental Energy Services Inc. and Premise Corporation.

With a background in accounting, she is adept with numbers.  Understanding the financial implications of business strategies has enabled her to be effective in evaluating opportunities and strategically assisting companies.  Prior to joining CI as its controller in 2002, Pauline was controller of an early-stage software development company.  Earlier she was employed by Ernst & Young, and was employed in manufacturing and service organizations.

“Even from my early days with Ernst & Young’s Entrepreneurial Services Group, I have had an interest in working with entrepreneurs and start-up companies,” said Pauline.  She added, “In my role on CI’s investment team, I continue to learn.   I am honored to work with such a great team of professionals at CI.”

Pauline graduated magna cum laude with a bachelor's degree in accounting from the University of Connecticut and is a registered CPA in the State of Connecticut.