Connecticut Innovations announced Wednesday that it will put up for grabs $5 million in investment funding this year, as part of its second annual VentureClash competition.
The first-round application process for the investment competition will run from March 1 through June 9, and focus on attracting companies in four categories: the Internet of Things, digital health, and financial and insurance tech.
The top award for the challenge will be a $1.5 million investment, said Matt McCooe, CEO of CI.
Two second-place winners will receive a $1 million investment, and up to three runners-up will each receive a $500,000 investment.
After two rounds of judging, approximately 10 companies will be invited to Yale University on Oct. 20 to compete in person for investment awards. An outside panel of judges will help to determine the winning VentureClash companies.
Eligible companies must have been in business for 12 months or more; have paying customers or customers actively testing a company product; be focused in one of the four industries described above; and be willing to establish a Connecticut presence.
For more information, visit the competition’s website.
