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
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.