Impact of Connecticut Innovations

25 01 2010

ConnTIP has previously written about the importance of Connecticut Innovations, Inc. for start-up and tech companies in Connecticut.  , Well, now there is a study that backs those claims up, The Economic Impact of Connecticut Innovations’ Portfolio on the Connecticut Economy.  CI is a quasi-public corporation that has invested in CT-based tech and start-up companies since as early as 1995.  According to CI’s blog entry, the study, commissioned by CI and covering 1995-2008, found that:

  • CI’s investments grew Connecticut employment by an average of 1,610 jobs each year.
  •  The cumulative, net state revenue generated exclusively by CI’s investment activity exceeds $209 million (an average increase of $14.9 million in net state revenue every year).
  •  Connecticut’s cumulative investment in CI of $106 million leveraged an additional $1 billion from CI’s investment partners over the period studied.

- Gregg J. Lallier





Summits, Conferences and Competitions

25 11 2009
A few upcoming events that entrepreneurs, start-ups and other people in the VC/start-up area may want to keep on their radar:
  • Early Stage Venture Fair hosted by Connecticut Venture Group will be held on December 9, 2009 at the New Haven Lawn Club in New Haven, CT (registration info here).
  • 2010 Alumni New Venture Contest was announced by the Harvard Business School’s Arthur Rock Center for Entrepreneurship and Alumni.  It is a business plan competition for Harvard Business School alumni with a $25,000 cash prize to the winning team.
  • 2009 New England Venture Summit will be held on December 8, 2009 at the Hilton Boston Dedham in Dedham, MA.  The conference is presented by youngStartUp Ventures, which is a company that assists companies in finding/accessing angel and venture capital investments.  According to the Summit’s website, it “is the premier industry gathering connecting senior executives of early stage and emerging growth companies, venture capitalists, angel investors, technology transfer professionals, university researchers, incubators, successful entrepreneurs and premier service providers”.  Registration info can be found here, and an agenda for the event can be found here

Below is a video highlight of the 2008 New England Summit:

 

more about “Summits, Conferences and Competitions“, posted with vodpod

   - Gregg J. Lallier 

 





UTC Purchasing GE Security Division

13 11 2009

United Technologies Corp, of Hartford, CT, has announced that it will acquire General Electric Co‘s fire detection and security business (based in Fairfield, CT) for $1.82 billion.  Read more about it in the Hartford Courant and Hartford Business Journal.

-Gregg J. Lallier





Hollywood East Tax Credits A Hot Topic at CT Digital Media Business Conference

12 11 2009

Connecticut’s “Hollywood East” tax credits program played a prominent role in the 2009 CT Digital Media Business Conference, which was held on November 11 at UConn’s Stamford Campus.  Here are a few interesting notes on the State’s film and digital media industry and the controversial tax credit:

  • Various speakers stressed that the State must be consistent in its message and approach to attract film and digital media businesses to Connecticut.  The debates in the General Assembly over whether the tax credits are working as intended and changes to the credits appear to have left some uncertain as to whether State is committed to the incentives that were first enacted in 2006.
  • On the other hand, the current economic climate in Connecticut and throughout the country was discussed as a factor that caused the tax credits to be scrutinized more closely.
  • Building infrastructure to support the film and digital media industry is still a priority, and a necessity.
  • The video game industry was mentioned more than once as a segment that could be important to the State’s economy.  To this end, see Gregg Lallier’s post Connecticut Video Game Industry – Promise and Pitfalls.
  • Governor Jodi Rell’s announcement that she would not run for reelection did not go unnoticed.  First, Stamford Governor Dannel Malloy, who has designs on running for Governor, delivered the keynote address.  Second, the issue of jobs in the upcoming election could provide an interesting tie-in with the tax incentives for the production of film and digital media.

-Dan Fitzgerald





Whalers Trademark: Who Owns The Rights?

22 10 2009

Hartford_WhalersWith the introduction of retro Hartford Whalers jerseys to the market, questions concerning the rights to the mark “Hartford Whalers” abound.

The prevailing thought appears to be that the City of Hartford or State of Connecticut owned the trademark rights to “Hartford Whalers” but let the registration expire this summer.  There is confusion over whether the rights are now owned by the NHL or the former owner of the Whalers and current owner of the Carolina Hurricanes, Peter Karmanos.  In the absence of any concrete information as the ownership of the Whalers trademark rights, allow me to speculate:

First, there are at least two sets of rights.  The City of Hartford likely has the exclusive right to use the name “Hartford Whalers” in connection with a NHL team.  This right is likely the product of a contractual agreement between the NHL and the City entered into when the Whale moved to Carolina.  These rights have nothing to do with a trademark.  Rather, these rights prevent the NHL from using the Whalers nickname in connection with another franchise.  A similar example might be the Cleveland Browns franchise, which moved to Baltimore in 1996 but left behind the team name, history and records to the City of Cleveland.  I don’t believe that any such agreement would include exclusive rights to license Hartford Whalers merchandise.  Those rights likely belong to the NHL.

Second, we have the trademark rights.  Trademarks protect words, names, symbols, sounds, or colors that distinguish goods and services from those manufactured or sold by others and to indicate the source of the goods.  Trademarks can be renewed forever as long as they are being used in commerce.  As I wrote yesterday, the last activity in connection with the mark “Hartford Whalers” was a cancelled application back in 2001.  Thus, according to the US Patent & Trademark Office, the mark had not been registered in some time.

The fact that the mark was not registered does not necessarily mean that no one owns a right to the Hartford Whalers mark.  The NHL, or other entities, may own common law rights, arising from the use of the mark.  Federal registration is not a prerequisite to establishing rights in a trade mark.

The answer to who owns the rights to market the Hartford Whalers name is not entirely clear.  What is clear to me, is that there is significant interest in this issue and in the Whalers.

This entry is cross-posted on Connecticut Sports LawTo read more on the Hartford Whalers, click here.

-Dan Fitzgerald





$4MM of CT Stimulus Funds for Solar Water Heating

16 10 2009

On October 14, 2009, Governor Rell announced that Connecticut has allocated $4 million of Federal Stimulus funds to support installations of 600 residential and about 120 non-residential solar water heating systems (see press release).  The “ Solar Thermal Initiative Program” will be administered by the Connecticut Clean Energy Fund

-Gregg J. Lallier





Tech Trends

2 10 2009

To help you keep up with tech trends (from the perspective of a tech-solutions provider), you should check out the Web 3.0 blog run by Independent Software.  The company is located in New Haven, CT and, according to their LinkedIn Company profile:

Using deep SaaS experience and proprietary models and tools, we help entrepreneurs and small businesses develop new products faster and more efficiently.

Web 3.0 features some great stuff, including a recent article on Google wave, which has just been opened up to developers.  It also has posts regarding local CT news and items.

- Gregg J. Lallier





Seed and Startup in CT Strategic Plan

29 09 2009

Connecticut’s economic strategic plan was recently unveiled by Governor Rell, and we should all be pleased to see that seed and early stage funding is given some considerable attention.

Increase Angel and Seed Capital – The state should make available funding for a preseed/seed capital fund, that is managed and matched by private sector funds, and should consider restoring Connecticut Innovations funding.  In addition, funding should be made vailable to develop angel capital networks, specifically through an angel investor tax credit program.

Create a new CTech Fund for the 21st Century. This new fund would be a $60-$100 million public/private venture capital fund to accelerate the growth of the technology sector here and position the state as a high-technology center. The fund would be seeded with $20 million in public dollars with the goal of leveraging an additional $40-$80 million in private funds.  The new fund would be a subsidiary of CI [Connecticut Innovations], but with board members composed of those members who contribute to the fund.  Potential funding partners include companies who are headquartered here (e.g., GE, UTC, Pitney Bowes, Boehringer Ingelheim); public utilities; Connecticut-chartered banks; insurance companies; tribal nations and private colleges and universities. Ohio, Kentucky and Pennsylvania have similar programs.

This is certainly a step in the right direction.  Further, it’s nice to see the state recognize the importance of CT Innovations in the process (read more about CI and the strategic plan here.)

-Gregg J. Lallier

 

includes a number of recommendations that would expand Connecticut Innovations’ role, initiatives and resources, allowing us to further support the growth of the state’s technology community. This is good news for CI and the emerging companies we serve.





Friday ConnTIPs

26 06 2009

Innovation & Entrepreneur Summit

The 2009 Cantor Colburn Innovation & Entrepreneur Summit will be held in New Haven on September 17, 2009.  The 2009 Innovation Pipeline Awards will be awarded during the summit.  The following categories will be awarded:

  1. The Most New Patents Award
  2. The Most Significant Early Stage Capital Investment Award
  3. The Deal of the Year Award
  4. The Most Promising Technology Product or Service of the Year
  5. The most Promising Software Product of the Year
  6. The Most Promising New Internet/New Media Company of the Year
  7. The Most Promising New Medical Device Product of the Year
  8. The Most Promising New Green Tech Industries Company of the Year

The deadline to submit applications and nominations for Innovation Pipeline Awards is July 10, 2009.

Is Software Patentable?

Check out this post by Chuck Connell on IPWatchdog.

New Haven Office of Economic Development Bolsters Online Presence

The New Haven Office of Economic Development recently launched a  new website.  Click here for a direct link to the site

The intent of the site is “to assist in communication between the city, residents, business leaders, and those interested in relocating to New Haven,” officials said in a statement.

Was Tony’s LaRussa’s Twitter Lawsuit a Winner?

Here’s what Michael McCann of the Sports Law Blog had to say:

Tony La Russa’s lawsuit against Twitter was a lot like kicking dirt on the umpire: He got a lot of attention, and he made his point, but he wasn’t likely to win the argument.

Click here for the full article.





The Potential of New Haven

25 06 2009

As a New Haven lawyer practicing in the VC/tech space for the past 10 years, I have witnessed the expansion of the tech sector in the city.  Elon Boms of LaunchCapital wrote a very interesting blog piece at Connecticut Innovations’ blog regarding the potential for New Haven earlier this month (“New Haven: The Next Palo Alto?“), which is worth a read.








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