profile mcchordSTAMFORD: Austin McChord, founder and CEO of Datto, one of Connecticut’s fastest growing tech companies has donated $50 million to the Rochester Institute of Technology his alma mater.

Dattco is a data protection company with engineering and support offices in downtown Rochester and is headquartered in Stamford.

McChord, is a 2009 alumnus and according ot RIT his gift is the largest donation ever made to the university and one of the largest ever in the region.

“A gift of this magnitude will help propel RIT from excellence to preeminence,” said RIT President David Munson. “We are so proud of our alumnus Austin McChord. He was passionate about his idea and he turned it into a big success. This embodies the creative element that we want to further highlight at RIT. Every student can be involved in creating things that never before existed, and then putting the result into play. His investment in RIT will help our students and faculty make their mark on the world.”

payrailzGLASTONBURY: Payrailz, a digital payments company offering advanced bill payment and money transfer solutions to banks and credit unions, announces that First Data, Live Oak Ventures, Woodforest National Bank, Webster Bank and TTV Capital has raised $6.1 million from a group of strategic and ventur capital investors.

Payrailz is a cloud based digital payments company offering what it says is “advanced bill payment and money transfer solutions to banks and credit unions.”

According to th company, “t‘This group of investors are believers in Payrailz’s product innovation vision and corporate commitment behind producing smarter “do it for me” solutions that leverage the latest advancements in payments technology. These organizations are technology savvy industry veterans who will be key advisors to Payrailz’s efforts.”

First Data is one of the largest credit card processing companies. Live Oak Ventures CEO is also CEO a national small business bank Live Oak Bank, Woodforest National Bank is based in Woodlands, Texas is a $3.7 billion dollar community bank with more than and like Connecticut’s Webster Bank has traditional branches [750 branches].

The investors are participating widely on the company’s board, James S. Mahan III, CEO and Chairman of Live Oak Bank. Previously, he served as the CEO and chairman of the board of S1 Corporation and as the founder of Security First Network Bank: the “world’s first Internet bank.”

Neil Underwood, president of Live Oak Bancshares and Live Oak Ventures. He is a cofounder of nCino the “worldwide leader in cloud banking.”

Mark A. Johnson, general partner of TTV Capital. He is a payments visionary and the former vice chairman of CheckFree.

James D. “Jay” Dreibelbis, president and COO of Woodforest National Bank.

Raymond Merk, vice president of First Data. He also served as the vice president of business development at Sage Payment Solutions.

Fran Duggan Payrailz CEO joined as President in November 2017. He was previously CEO of Innoveera, a payments consultant firm, and prior to that the founder of Payveris, a bill payment start-up, based in Rocky Hill. He also served as a senior executive for 10 years at Webster Bank where he originated and oversaw the development of online banking and payment applications.

Toyota FCHT 5a 1200x801DANBURY: Some good news comes to Fuel Cell Energy [NASDAQ: FCEL] with an agreement with Toyota to purchase hydrogen for vehicle refueling at the Port of Long Beach, California. The SureSourceTM Fuel Cell will generate hydrogen and electricity from a multi-megawatt fuel cell power plant located at the Port.

Toyota has said it is committed to fuel cell vehicles technology and currently sells Camry-sized Mirai fuel cell sedans. The company operates a hydrogen tractor-trailer at the Port.

TIP2017FundingTestTubeSTORRS: UCONN Technology Incubation Program companies have raised $54 million in financing in 2017, exceeding the programs $50 million goal and exceeding the $45.3 million raised in 2016 and $19.2 million in 2015. Grants, Debt, Equity and Revenues all went into that total - with equity financing making up the bulk of the count!

UCONN TIP companies link

QCI LogoNEW HAVEN: Two seasoned Venture investors have led an $18 million Series A investment into New Haven Quantum Circuits Inc [QCI] The new funds came from Canaan and Sequoia, and Tribeca Venture Partners, Osage University Partners, and previous investor Fitz Gate Ventures. Quantum expects to build and sell the “first practical and useful quantum computers.”

QCI was founded by Yale based computer scientists Michel Devoret, Luigi Frunzio and Robert Schoelkopf.

Brendan Dickinson of Canaan and Bill Coughran of Sequoia are joining the company's board.

According to the company the Yale team has “pioneered the field of quantum computing with superconducting circuits, introducing the transmon qubit and techniques for distributing quantum information on wires, and performing the first quantum algorithms and quantum error correction in integrated circuits.”

frissROCKY HILL: Connecticut Innovations [CI] Connecticut’s quasi public venture capital organization announced the winners of its VentureClash, $5 million “global investment challenge” for early-stage companies in digital health, financial technology, insurance technology and the Internet of Things.

Of the nine finalists from seven different countries, VentureClash awarded six companies with investments, mentoring, customer introductions, grants and services to help them grow and succeed. The winning companies are required to establish a presence in Connecticut.

Investment Awards:

FRISS received the top investment award of $1.5 million. Based in Utrecht, Netherlands, Friss uses proprietary analytics software to provide state-of-the-art solutions in the fields of fraud, risk and compliance for the insurance industry.

Two second-place winners will each receive a $1 million investment:

   SCADAfence– Based in Luminiferous Aether, Israel, SCADAfence is a pioneer in securing mission-critical industrial networks from cyber threats, reducing the risk of connecting multiple devices in industries like manufacturing, utilities, oil and gas.

   Vouchr– Based in Toronton Canada, Vouchr is a secure, payment-agnostic tool that allows users to bundle transfers of funds with photos, videos, social networking and gamification.

Three companies will each receive a $500,000 investment award:

   Buzzmove – Buzzmove is a London, United Kingdom based price-comparison and instant-booking platform for all services related to moving and the right level of insurance needed to cover moving-related services.

   Davra Networks– Based in Dublin, Ireland, Davra Networks provides a complete Internet of Things (IoT) platform that allows customers to define, build and bring to market vertical-specific IoT applications while collecting and easily sharing data.

   EAVE– Based in London, United Kingdom is developing the next generation of hearing protection and communication technology, utilizing noise cancellation and speech enhancement to eliminate noise-induced hearing loss.

“The talent in this year’s competition was incredible,” said Matt McCooe, CEO of Connecticut Innovations. “Judges struggled to make the decision, but in the end, FRISS took home the top award because of its strength in the space and ability to disrupt here in the United States.”

The other finalists included:

Bought By Many – A U.K.-based interactive members-only service, Bought By Many offers targeted insurance opportunities designed to help individuals find the right insurance efficiently and customized to their needs.

PeekMed – Based in Portugal, Peek Health offers powerful three-dimensional preoperative planning software for orthopedic surgery that aims to help the surgeon better treat the patient while reducing costs and surgical times.

Tellspec – Headquartered in Toronto, Canada, Tellspec is a data company with the ability to scan food, offering non-destructive real-time food testing for quality control, authentication, safety and nutritional value.

On October 20, 2017, the nine finalists, representing the most promising early-stage companies in digital health, financial technology, insurance technology and the Internet of Things, pitched their ideas in front of a live audience and a panel of judges at the Yale School of Management in New Haven, Conn.

The judges included investors and subject-matter experts from 1843 Capital, Elm Street Ventures, Greycroft Partners, The Hartford and Royal Bank of Scotland (RBS). In addition to the company pitches, the VentureClash program also included a keynote address from Tim Armstrong, CEO of Oath.

The VentureClash competition started with applications from 285 companies from more than 20 countries. After two rigorous rounds of judging, nine finalists were named, and they then went on to compete at the live pitch event.

For more information on qualifications, requirements, guidelines and application, visit www.ventureclash.com.

About VentureClash

VentureClash is Connecticut Innovations’ global investment challenge focused on early-stage companies. The challenge identifies promising companies in digital health, financial technology, insurance technology and the Internet of Things that will receive investments from a $5 million award pool and the support of resources around Connecticut. To learn more, visit www.ventureclash.com.

To learn more, visit www.ctinnovations.com.

resultstechCrossroads Venture Group's (CVG) Investor, Entrepreneur & Resource Network will be traversing around CT with Paul Singh's ResultsJunkies North American Tech Tour and its Investor Syndicate!

Singh is currently serving as an Entrepreneur in Residence with the White House Office of Science and Technology Policy and DHS/USCIS. He is 1 of the 3 original Founders of 500 Startups, former Managing Director of the DC-based incubator 1776 and Founder of Disruption Corp. (sold to 1776 last year).

According to CVGIn the last 18 months, Singh’s Results Junkies North American Tech Tour & its Investor Syndicate have visited over 80 cities and invested in many of the startups they've met along the way.

Tues., Oct. 17 @ Fairfield University, Fairfield  1:00 PM - 8:00 PM

Focus: University Startup Pitches, Early-Stage Capital & Deal Structure

Get the details and sign up for Tuesday

Wed., Oct. 18 @ Quinnipiac University, Hamden  1:00PM - 7:00 PM

Focus: Women Founders Pitch Competition & Financing Strategies

Get the details and sign up for Wednesday

Thurs., Oct. 19 @ CURE Innovation Commons, Groton  1:00 PM - 7:00 PM

Focus: Business Formation, Deal Financing & Ecosystem Building

Get the details and sign up for Thursday

ventureclashNine companies from around the globe compete for $5 million in investments

ROCKY HILL: Connecticut Innovations (CI), the state;s quasi public venture capital arm announced the finalists for VentureClash, its $5 million global investment challenge.

VentureClash was created by CI to attract early-stage companies in “digital health, financial technology, insurance technology and the Internet of Things from around the world.”

The challenge providez one top winner with a $1.5 million investment and two second-place winners can each receive a $1 million investment, and up to three third-place winners will receive awards worth $500,000 each. The companies need to establish operations in Connecticut.

The nine finalists from seven countries will present in front of a panel of expert judges at the Yale School of Management on Friday, October 20, 2017. Tim Armstrong, CEO of Oath, will be the keynote speaker at the event.

This year’s VentureClash finalists as described by CI are:

Bought By Many – A U.K.-based interactive members-only service, Bought By Many offers targeted insurance opportunities designed to help individuals find the right insurance efficiently and customized to their needs.

Buzzmove – Buzzmove is the United Kingdom’s only price-comparison and instant-booking platform for all services related to moving and the right level of insurance needed to cover moving-related services.

Davra Networks – Based in Ireland, Davra Networks provides a complete Internet of Things (IoT) platform that allows customers to define, build and bring to market vertical-specific IoT applications while collecting and easily sharing data.

EAVE – U.K.-based EAVE is developing the next generation of hearing protection and communication technology utilizing noise cancellation and speech enhancement to eliminate noise-induced hearing loss.

FRISS – Based in the Netherlands, Friss uses proprietary analytics software to provide state-of-the-art solutions in the fields of fraud, risk and compliance for the insurance industry.

Peek Health, S.A. – Based in Portugal, Peek Health offers powerful three-dimensional preoperative planning software for orthopedic surgery that aims to help the surgeon better treat the patient while reducing costs and surgical times.

SCADAfence – Based in Israel, SCADAfence is a pioneer in securing mission-critical industrial networks from cyber threats, reducing the risk of connecting multiple devices in industries like manufacturing, utilities, oil and gas.

Tellspec – Headquartered in Toronto, Canada, Tellspec is a data company with the ability to scan food, offering non-destructive real-time food testing for quality control, authentication, safety and nutritional value.

Vouchr – Based in Canada, Vouchr is a secure, payment-agnostic tool that allows users to bundle transfers of funds with photos, videos, social networking and gamification.

“VentureClash again attracted an impressive list of innovative, early-stage companies poised for growth,” said Matt McCooe, CEO of Connecticut Innovations. “The fundamental improvement in this year’s competition is the deep involvement of so many corporate partners. Many of Connecticut’s flagship companies engaged in the process to learn about, meet and help us select the competitors in VentureClash. The Connecticut-based companies are looking to CI to act as a tech scout, and to help identify fantastic talent and innovation from across the globe.”

VentureClash 2017 has partnered with the following organizations for this year’s competition: Aetna; Bank of Ireland’s Startlab; Boehringer Ingelheim; Dream Payments; Fiondella, Milone & LaSaracina LLP; General Dynamics Electric Boat; Health Venture; ISG (Information Services Group); Magellan Health; Medtronic; Microsoft BizSpark Assets; Navigators; Pitney Bowes; RBS/NatWest; Shipman & Goodwin; Sikorsky & Lockheed-Martin; Stanley, Black & Decker; Stanley Ventures; Synchrony Financial; The Hartford; The Jackson Laboratory; Travelers; Updike, Kelly & Spellacy; Webster Bank; Yale University; Yale New Haven Health; and Yale Office of Cooperative Research (OCR).

To register to attend the 2017 VentureClash finals event, visit: www.ventureclash.com/event.

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ScaleUP CT is a half-day event that will focus on supporting the emerging growth companies. November 2 at the Omni Hotel. 
Scale Up is presented by the CT Technology Council ct.org for more information. There are fees to attend check this  link  for registration information.

According to the Tech council ScaleUP CT is "designed to support emerging growth companies that excel in innovation and entrepreneurship. This half-day event will focus on corporate connections and a series of workshops and networking opportunities designed to enable ScaleUp company growth and development."

Entrepreurs and others that have "successfully managed growth from scaleup to industry leaders."

Workshop on marketing for growth, alternative financing to help you grow, how to create corporate connections, and more. 

 
To participate you are encouraged to attend the event by clicking here to register. You can also complete the survey here: https://www.surveymonkey.com/r/CTCGrowthSurvey

TechTransferHARTFORD: The Connecticut Technology Council (CTC) and Marcum LLP announced the winners of the 2017 Marcum Tech Top 40, the tenth annual awards program from CTC recognizing the fastest growing technology companies in Connecticut. Results were unveiled at an awards reception at the Toyota Oakdale Theater in Wallingford on September 19

The fastest-growing technology company in Connecticut and the 10th anniversary Marcum Tech Top 40 winner is MediaCrossing, Inc. Founded in 2012, MediaCrossing is a digital marketing company that is dedicated to mid-sized companies seeking new audiences across all channels. Since its founding, MediaCrossing has grown 2107%. In 2016, MediaCrossing was awarded the Marcum Tech Top 40 Accelerator Award, a category set aside for companies that have experienced significant growth in revenue, but lack three years of financial records.

2017 category winners are:

   Revolution Lighting, Stamford (Advanced Manufacturing)

   Alexion Pharmeceuticals, New Haven (Life Sciences)

   ESCOWare, Newtown (Software)

   TRC, Windsor (Energy, Environmental, and Green Technologies)

   MResult Corp., Mystic (IT Services)

   MediaCrossing, Inc., Stamford (New Media, Internet, and Telecommunications)

   Arccos Golf, Inc., New Haven (Accelerator Awardee)

It is the tenth year of The Marcum Tech Top 40, which recognizes technology companies “with at least $3 million in annual revenue and a four-year record of growth”, in six industry sectors. Both privately held and publicly traded companies are eligible.

“Marcum Tech Top 40 companies and winners are exemplars of overcoming any number of obstacles in business, including capital-raising, complex revenue reporting, intellectual property management, international expansion and other challenges. The tenth anniversary class of Marcum Tech Top 40 companies are best-in-class by all of these measures and more,” said Michael K. Brooder, CPA, managing partner of Marcum’s Hartford, Connecticut, office.

Bruce Carlson, CTC’s President & CEO, said, “The Marcum Tech Top 40 reminds us each year that technology companies are thriving in Connecticut. We need to support these companies and the others that are in a growth mode for Connecticut to achieve the job creation and economic growth we are all striving for. The Connecticut Technology Council will continue to be an advocate for the public policies and best practices that support the state’s technology sector.”

2017 Marcum Tech Top 40 Companies by Company Name

(Company Name, Category, City, County)

3Gtms, Software, Shelton, Fairfield

ADNET Technologies, IT Services, Farmington, Hartford

Alexion Pharmaceuticals Inc., Life Sciences, New Haven, New Haven

Amphenol Corp. /DE/, Advanced Manufacturing, Wallingford, New Haven

Chief Executive Group, LLC, New Media / Internet / Telecom, Stamford, Fairfield

Clarity Software Solutions, Inc., Software, Madison, New Haven

Connect Partners, Inc., IT Services, Fairfield, Fairfield

Continuity, Software, New Haven, New Haven

Core Informatics, LLC, Software, Branford, New Haven

EMCOR Group, Energy/Environmental/Green Technology, Norwalk, Fairfield

ESCOWare, Software, Newtown, Fairfield

Evariant, Inc., Software, Farmington, Hartford

Exago Inc., Software, Shelton, Fairfield

F3 Technology Partners, IT Services, West Hartford, Hartford

FACTSET Research Systems Inc., Software, Norwalk, Fairfield

Frontier Communications Corp., New Media/ Internet/ Telecom, New Haven, New Haven

Gartner Inc., IT Services, Stamford, Fairfield

HARMAN International Industries, Software, Stamford, Fairfield

HealthPlanOne, LLC, New Media / Internet / Telecom, Trumbull, Fairfield

Hexcel Corporation, Advanced Manufacturing, Stamford, Fairfield

Insurity, Inc, Software, Hartford, Hartford

IT Direct, IT Services, West Hartford, Hartford

MediaCrossing Inc., New Media / Internet / Telecom, Stamford, Fairfield

Metrum Research Group, Life Sciences, Tariffville, Hartford

MResult Corp., IT Services, Mystic, New London

Network Installation Services, Inc, IT Services, Wallingford, New Haven

PASSUR Aerospace, Inc., Software, Stamford, Fairfield

Photronics, Inc., Advanced Manufacturing, Brookfield, Fairfield

Priceline Group Inc., New Media/ Internet/ Telecom, Norwalk, Fairfield

Proton OnSite, Energy / Environmental / Green Technology, Wallingford, New Haven

RBC Bearings Inc., Advanced Manufacturing, Oxford, New Haven

Revolution Lighting Technologies, Inc., Advanced Manufacturing, Stamford, Fairfield

Sheffield Pharmaceuticals. LLC, Life Sciences, New London, New London

Southridge Technologies Group, LLC, IT Services, Brookfield, Fairfield

Square 9 Softworks, Software, New Haven, New Haven

SS&C Technologies Holdings Inc, Software, Windsor, Hartford

The Network Support Company, IT Services, Danbury, Fairfield

Townsquare Media, Inc., New Media/ Internet/ Telecom, Greenwich, Fairfield

TRC Companies Inc. /DE/, Energy/Environmental/Green Technology, Windsor, Hartford

U.S. Computer Connection, IT Services, Stamford, Fairfield

The Connecticut Technology Council’s 2017 Marcum Tech Top 40 is presented by Marcum LLP. Premier sponsor Webster Bank. Lead Sponsor, Pullman & Comley, LLC. With support from Astor Place, CHUBB, Robert Half Technology, and Sandler Training.

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Cambridge, Mass. Facebook which was started in Cambridge by Mark Zuckerberg a then student at Harvard has had only a minor prescence in New England’s top tier tech town, with only 150 employees.

That Facebook status change as the company will be adding 500 employees in the city at a new building at 100 Binney Street.