A new venture capital contest being launched by Connecticut Innovations was officially branded Monday as Venture Clash.
It is an international venture capital contest, open to U.S. companies, that would culminate late this year with several million dollars in debt and equity investments in winning firms that agree to move to the Nutmeg State. The venture contest was first reported by the Hartford Business Journal earlier this month.
It is the first time in Connecticut Innovation’s 27-year history that it has expanded its aspirations beyond U.S. borders. It has used investments to lure seven companies to Connecticut from other states — mainly Massachusetts and New York. CI is a quasi-public entity that invests debt and equity is startup and later stage companies.
