Five fledgling Connecticut tech startups have qualified for $800,000 in pre-seed funding from the state’s technology promotions arm.
Connecticut Innovations (CI) announced the quintet Tuesday, each involved in biotechnology, clean tech and information technology:
CaroGen Corp. of Hamden, $150,000 funding commitment
CMB Exchange LLC dba American Oil Solutions (Bridgeport), $150,000 funding commitment
Engineered Carbon Solutions Inc. (Norwich), $150,000 funding commitment
ImStem Biotechnology Inc. (Farmington), $150,000 funding commitment
ReadyDock Inc. (West Hartford), $200,000 follow-on funding commitment
CaroGen is an emerging biotechnology company with a new platform technology licensed from Yale University for generating potent and safe vaccines.
American Oil Solutions has developed an advanced, closed-loop, pollution-free pyrolysis and post-processing system to turn used tires into high-value products resold to commodity dealers.
Engineered Carbon Solutions has developed a hybrid heating fuel from recycled materials. The company’s Frog City Fuel brand pellets, made from recycled paper, waste coal and biodiesel, are a cheaper alternative to premium wood pellets and heating oil for home heating pellet stoves and boilers.
ImStem Biotechnology develops cell therapeutic products derived from human embryonic stem cells for use in tissue repair and treatment of neural, heart, vascular and blood system and autoimmune diseases. ImStem’s technology is licensed from the University of Connecticut Health Center.
ReadyDock develops modular technology for secure storage, charging and disinfecting of computer tablets. Its technology is useful in hospitals, laboratories and anywhere bacterial infection is a risk. ReadyDock also got $150,000 through CI’s Pre-Seed Fund in 2012.
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