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Connecticut governor Rell announces technology grants

Wednesday, December 10, 2008   (0 Comments)
Posted by: Matthew Montoya
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By Governor Rell's Office
Dec 10, 2008 - 11:01 AM

 

Governor M. Jodi Rell today announced that six more start-up technology companies have received a financial boost through the Connecticut Small Business Incubator Program. Governor Rell announced aid to eight such start-ups in August.

The Small Business Incubator Program (SBIP) was developed in 2007 to further the work of small, technology-based firms. These start-ups have the potential to create new jobs and new economic opportunity for the state.

"The focus on keeping and growing jobs - especially in high-growth sectors such as high-technology businesses - is all the more critical because of the national economic slump," Governor Rell said. "These are smart, targeted investments that have the potential to pay off handsomely for the people of our state.

"We certainly understand the financial risk and responsibility involved when trying to start a business from scratch," the Governor said. "This program fosters innovation and accelerates the growth and success of Connecticut's high-tech sectors. Our support for these companies shows just how committed we are and how important high-tech entrepreneurial businesses are to the state."

The SBIP recognizes that incubator companies have a strong likelihood of success. According to National Business Incubation Association, 87 percent of incubator companies remain in business and 84 percent remain in the community.

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