New program offers $25,000 grants to support companies with highest growth potential
Rocky Hill, Conn. – Nov. 21, 2016 – CTNext, Connecticut’s go-to resource for entrepreneurial support, has launched a new program, Growth Company Grants, which focuses on supporting business sectors and companies with the highest growth potential. The Initiative offers grants of up to $25,000 for strategic projects and customer acquisition.
“As companies mature the moves made at the growth stage are increasingly important. We want to be able to assist growth companies tackle the different challenges that will emerge during the growth period,” said Glendowlyn Thames, director of CTNext. “These are the types of companies that can have a significant economic impact in our state, and the grants are intended to accelerate their growth and success.”
Project grants can be used for, but, are not limited to, sales assistance, marketing, strategy, organizational development, technology assistance, bid assistance, and beta testing. CTNext is searching for ideas that are the most likely to facilitate the company’s acceleration to profitability and/or the next round of funding.
For this program, high growth or growth-stage companies are those that have been incorporated for no more than 10 years, raised private capital, and saw a 20 percent increase in their annual gross revenues in each of their three previous income years. Eligible grantees include for-profit companies and non-profit organizations. Selected partners must be based in Connecticut and willing to maintain residence for the duration of the project contract.
For more information on the program or to apply, please visit: http://ctnext.com/growth-company-grants/.
About Connecticut Innovations Inc.
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize the growth potential of each business, CI tailors its solutions and often combines its funds with resources from other financial leaders to provide venture capital and strategic support for early-stage technology companies; grants that support innovation and collaboration; and connections to its well-established network of partners and professionals. For more information on CI, please visit www.ctinnovations.com.
CTNext is Connecticut’s go-to resource for entrepreneurial support. The goal of the program is to build a more robust community of entrepreneurs and to accelerate startup growth by providing access to talent, space, industry expertise, services, skill development and capital to foster innovation and create jobs for people in Connecticut. CTNext launched in 2012 and has more than 1,500 members in its network.