Connecticut’s $5 Million Global Venture Challenge Opens Applications to Early-Stage Companies

VentureClash 2017 focuses on attracting Internet of Things, Digital Health, Fintech and InsureTech companies.

ROCKY HILL, Conn., March 1, 2017 – Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced the launch of the first-round application period for VentureClash. VentureClash is Connecticut’s $5 million global investment challenge for early-stage digital health, financial technology, Internet of Things and insurance technology companies.

“This year, we added two more industries that are rapidly growing and have the customers, investors and infrastructure in Connecticut to help companies thrive,” said Matt McCooe, CEO of Connecticut Innovations. “In our second year of operation, VentureClash will offer additional partners that can provide valuable insight and business opportunities for our companies.”

Awards
The top award for the challenge will be a $1.5 million investment. There will be two second-place winners that will receive a $1 million investment, and up to three runners-up will each receive a $500,000 investment.

Application
The VentureClash challenge launches the first-round application on March 1, 2017. Companies will have until June 9, 2017, to submit the first-round application. After two rounds of judging, approximately 10 companies will be invited to Yale University on Friday, October 20, 2017, to compete in person for investment awards. An outside panel of judges will help to determine the winning companies of VentureClash 2017.

Eligibility
To be eligible to apply, a company must:
– Have been in business for at least 12 months
– Have paying customers or customers who are actively testing the applicant’s product
– Be willing to establish a Connecticut presence, which applies to domestic and international applicants
– Be focused in digital health, financial technology (Fintech), insurance technology (InsureTech) or Internet of Things (IoT)

For more information on qualifications, requirements, guidelines and application, visit www.ventureclash.com.

About VentureClash
Managed by Connecticut Innovations, VentureClash is Connecticut’s global venture challenge focused on early-stage companies. The challenge, launched in 2016, identifies high-potential companies in digital health, IoT, InsureTech and Fintech that will compete for investments from a $5 million award pool. For more information, visit www.ventureclash.com.

About Connecticut Innovations
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. CI provides venture capital and strategic support for early-stage technology companies; financial support for innovation and collaboration; and connections to its well-established network of partners and professionals. For more information, please visit www.ctinnovations.com.

Connecticut Innovations Invests $1.5 Million in Dream Payments

Top winner of VentureClash competition to use funds to support opening of Connecticut office.

Rocky Hill, Conn. – December 1, 2016 – Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced that it invested $1.5 million in Dream Payments, a leading financial technology (fintech) company that provides a cloud-based mobile payment platform for merchants and financial institutions, and the 2016 top investment award winner of VentureClash.

The $1.5 million award will help to further fuel the growth of Dream’s market share and accelerate the company’s entry into the United States.

“CI is excited to close this deal with the top investment award winner of VentureClash,” said Matt McCooe, chief executive officer of Connecticut Innovations. “This company has a strong leadership team and we look forward to supporting the company’s expansion in the U.S. market.”

VentureClash, Connecticut’s $5 million global venture challenge managed by Connecticut Innovations, attracted nearly 200 applicants and culminated with a finals event on Thursday, Oct. 20, at the Yale School of Management in New Haven, Conn. Dream Payments was one of 11 finalists that presented to a broad judging panel of venture capitalists and innovation experts from leading firms – including Canaan Partners, Kepha Partners , OAK HC/FT and Point72 Ventures.

Dream Payments has a solid foothold in Canada in the payments-processing space and looks to expand its operations to the U.S. They plan to create up to 10 employee positions in Connecticut with this investment and will look to add a business development professional to help assist with its U.S. growth plans.

“The U.S. market is experiencing a major shift toward mobile commerce creating dramatic demand for Dream’s platform.” said Brent Ho-Young, CEO of Dream Payments. “We are thrilled to enter the U.S. market with the support of the State of Connecticut, which provides us strategic advantages in terms of proximity to our customers and partners such as CI, and access to a rich pool of specialized talent.”

For more information on qualifications, requirements, guidelines and application, visit  www.ventureclash.com.

About VentureClash
VentureClash is Connecticut Innovations’ global investment challenge focused on early-stage companies. The challenge, which launched in 2016, identifies high-potential companies that receive investments from a $5 million award pool and the support of resources around Connecticut. To learn more about the process, application, industry focus, partners and previous winners, visit  www.ventureclash.com.

About Connecticut Innovations
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize growth potential, CI provides venture capital and strategic support for early-stage technology companies; financial support for innovation and collaboration; and connections to its well-established network of partners and professionals. For more information, please visit www.ctinnovations.com.

About Dream Payments
Dream Payments is a financial technology company powering payments across mobile devices and the Internet of Things (IoT) in partnership with financial institutions. Dream’s turnkey solutions include mobile point-of-sale (MPOS) applications, mobile payment terminals, remote device management, customer onboarding and secure payment processing. Dream connects financial institutions, merchant acquirers, retailers and value-added apps to deliver services that meet the demands of today’s businesses, and is the only platform that enables EMV payment terminals that accept Interac® Debit, Visa and MasterCard to be sold off-the-shelf with instant activation. Dream is headquartered in Toronto, Ontario. For more information, please visit dreampayments.com.

Media Contact:
Lauren Carmody
lauren.carmody@ctinnovations.com 
860.258.7829

VentureClash Announces Winners of $5 Million Global Investment Challenge

Toronto-based financial services technology company, Dream Payments takes first-place $1.5 million investment award.

ROCKY HILL, Conn., October 24, 2016Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced the winners of VentureClash, a $5 million global investment challenge for early-stage digital health and financial technology (fintech) companies.

Of the 11 finalists from eight different countries, VentureClash awarded six companies with investments, mentoring, customer introductions, grants and services to help them grow and succeed. As part of each deal, the winners are required to establish a presence in Connecticut.

Awards
Dream Payments, a Canada-based fintech cloud powering payments across mobile devices and the Internet of Things in partnership with financial institutions, received the top investment award of $1.5 million. Brent Ho-Young is the CEO of Dream Payments and presented on behalf of the company on October 20.

The second-place winner, which received a $1 million investment is Hubbub, a United Kingdom–based company providing digital fundraising solutions for the education and nonprofit sectors. Jonathan May is the CEO of Hubbub and accepted the award on behalf of his team.

Four companies received a $500,000 investment award. They included:

  • AMP Credit Technologies, a Hong Kong–based fintech company solving the $3 trillion demand for credit by small businesses around the world.
  • BondIT, an Israel-based company driving sales by empowering advisers with data-driven, personalized, optimal investment recommendations increasing trades and revenues.
  • LindaCare, a Belgium-based digital health company offering software solutions for healthcare providers to facilitate patient remote monitoring.
  • Streamdata.io, a France-based company developing software and infrastructures that help developers turn content into streams that easily integrate into front-end and back-end systems.

“This competition showcased an incredible display of talent from companies around the world,” said Matt McCooe, CEO of Connecticut Innovations. “We have now completed the first step in the process with the awards. The next and more vital piece of this challenge will be getting the deals completed, and setting up a soft landing for the companies in the challenge who decide to open operations in Connecticut. We look forward to expediting that process and helping these companies gain traction in the U.S. market.”

The winners along with the five other finalists presented their business ideas in front of a live audience and a panel of judges on Thursday, October 20, at the Yale School of Management. The judges included subject matter and investor experts from athenahealth, Canaan Partners, Oak HC/FT, Kepha Partners, Magellan Health, and Point72 Ventures.

The top two investment awards also receive up to $100,000 each in grants for assistance with relocation and other expenses, and each runner-up investment award includes a $50,000 grant. All six winners will also receive $120,000 worth of IBM Cloud Credits, sponsored by IBM.

In addition to the company pitches, the VentureClash program also included two panel discussions, which included experts from companies like Yale New Haven Health System, Aetna, Medtronic and Flare Capital that focused on digital health; and experts from The Hartford, Webster Financial Corporation, AXA Strategic Ventures, Synchrony Financial and the Yale School of Management that spoke on trends in financial technology.

For more information on qualifications, requirements, guidelines and application, visit www.ventureclash.com.

About VentureClash
VentureClash is Connecticut Innovations’ global investment challenge focused on early-stage companies. The challenge identifies high-potential companies in digital health and fintech that will receive investments from a $5 million award pool and the support of resources around Connecticut.

About Connecticut Innovations Inc.
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize the growth potential of each business, CI tailors its solutions and often combines its funds with resources from other financial leaders to provide venture capital and strategic support for early-stage technology companies; flexible loans for established companies with new innovations; grants that support innovation and collaboration; and connections to its well-established network of partners and professionals. For more information on CI, please visit www.ctinnovations.com.

VentureClash Announces Finalists for Global Investment Challenge

Connecticut Innovations’ program brings together 11 early-stage digital health and fintech companies to compete for $5 million in investments.

ROCKY HILL, Conn., October 03, 2016Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced the launch of VentureClash, a $5 million global investment challenge for early-stage digital health and financial technology (fintech) companies.

VentureClash attracted top early-stage digital health and financial technology (fintech) companies from around the world. CI now intends to support them with investments, mentoring, customer introductions, grants and services to help them grow and succeed in Connecticut. The challenge will provide one company with a top investment award of $1.5 million. The second-place winner will receive a $1 million investment, and up to four runners-up will each receive a $500,000 investment.

The 11 finalists from eight countries will present at the Yale School of Management on Thursday, Oct. 20, 2016, in front of a live panel of judges. Judges will include subject matter and investor experts from athenahealth, Canaan Partners, Oak HC/FT, Kepha Partners, Magellan Health and Point72 Ventures.

The VentureClash finalists include:

  • AMP Credit Technologies, a Hong Kong–based fintech company solving the $3 trillion demand for credit by small businesses around the world.
  • BondIT, an Israel-based company driving sales by empowering advisers with data-driven, personalized, optimal investment recommendations increasing trades and revenues.
  • Care Thread, a Rhode Island–based company connecting care teams in real time, so patient care delivery is accurate and efficient, saving money while reducing medical error.
  • CSIS, an Ireland-based company providing patient-centered clinical decision support software with a focus on optimizing patient prescribing.
  • Digital Contact Limited, a United Kingdom–based company providing real-time, analytical big data products and services for the financial industry, enabling traders and investors to make educated investment decisions faster.
  • Dream Payments, a Canada-based fintech cloud powering payments across mobile, connected devices and the Internet of Things (IoT) in partnership with financial institutions.
  • Hubbub, a United Kingdom­–based company providing digital fundraising solutions for the education and nonprofit sectors.
  • Liquidaty, a New York City–based company automating complex data tasks, reducing days or weeks to seconds, while seamlessly integrating internal or third-party data products.
  • LindaCare, a Belgium-based digital health company offering software solutions for healthcare providers to facilitate patient remote monitoring.
  • Linqto, a California-based company founded in response to millennials abandoning traditional banking in favor of fintech solutions.
  • Streamdata.io, a France-based company developing software and infrastructures that help developers turn content into streams that easily integrate into front-end and back-end systems.

“VentureClash received applications from nearly 200 strong and innovative companies,” said Matt McCooe, CEO of Connecticut Innovations. “Over the past few months, we have come to know many of the entrepreneurs, and we’re confident Connecticut would be a great place for their companies to grow.”

The VentureClash application process included two rounds of judging, including a four-week accelerator for semifinalists that was powered by The Refinery. The Refinery, led by Janis Collins and Jennifer Gabler, successfully ported over their in-person program to a virtual program that included coaching, mentoring and vetting semifinalists in the challenge. The last week of VentureCamp gave semifinalists the opportunity to come to Connecticut, explore the area, and meet the VentureClash team.

“From start to finish, we wanted to provide semifinalists and finalists with an experience,” said Glendowlyn Thames, director of CTNext and project leader for VentureClash. “VentureCamp gave semifinalists the opportunity to learn more about doing business in Connecticut and helped them create connections that would make for a soft landing in our state. As we move into the finalist phase of the competition, we are excited about the caliber of the finalists and look forward to a lively competition in October.”

For more information on qualifications, requirements and the event itself, visit  www.ventureclash.com.

About VentureClash
VentureClash is Connecticut Innovations’ global investment challenge focused on early-stage companies. The challenge identifies high-potential companies in digital health and fintech that will receive investments from a $5 million award pool and the support of resources around Connecticut.

About Connecticut Innovations Inc.
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize the growth potential of each business, CI tailors its solutions and often combines its funds with resources from other financial leaders to provide venture capital and strategic support for early-stage technology companies; flexible loans for established companies with new innovations; grants that support innovation and collaboration; and connections to its well-established network of partners and professionals. For more information on CI, please visit www.ctinnovations.com.

Contact: Lauren Carmody
Director of Public Relations
Phone: (860) 258-7829
Email: lauren.carmody@ctinnovations.com

Connecticut Innovations Launches $5 Million Global Investment Challenge

VentureClash scans the globe for early-stage digital health and fintech companies.

ROCKY HILL, Conn., April 28, 2016Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced the launch of VentureClash, a $5 million global investment challenge for early-stage digital health and financial technology (fintech) companies.

“VentureClash looks to attract the best early-stage companies here in Connecticut, around the country and throughout the world,” said Matt McCooe, CEO of Connecticut Innovations. “We will support companies with corporate, university, nonprofit and state resources to help high-growth enterprises succeed in Connecticut.”

Awards
The top award for the challenge will be a $1.5 million investment. The second-place winner will receive a $1 million investment, and four runners-up will each receive a $500,000 investment. Mentoring, grants and other assistance will also be provided to winners.

During the semifinalist round, applicants will also receive the benefit of going through VentureCamp, a four-week development and orientation program run by The Refinery, a leading Connecticut-based accelerator.

Application
The VentureClash challenge launches the first-round application on April 28, 2016. Companies will have until June 30, 2016, to submit the first-round application. After two rounds of judging, approximately 10 companies will be invited to Yale University on October 20, 2016, to compete in person for investment awards. Judges will include subject matter and investor experts from athenahealth, Canaan Partners, Greycroft Partners, Oak HC/FT, Kepha Partners, Magellan Health and Webster Bank.

Partners
To strengthen the initiative, VentureClash has identified several partners that will assist with customer connections, potential customer pilots, judging, mentoring and acceleration services. The 2016 VentureClash strategic partners include: The Hartford, The Jackson Laboratory, Magellan Health, Webster Bank, and Yale. VentureClash is also working closely with The Connecticut Department of Community and Economic Development (DECD) on program development and implementation.

Eligibility
To be eligible to apply, a company must meet the following requirements:

  • Have been in business for at least 12 months
  • Have paying customers or customers who are actively testing the applicant’s product
  • Companies must be willing to establish a Connecticut presence, which applies to domestic and international applicants
  • Companies must be focused in digital health or fintech

“We created VentureClash to help companies working in two very dynamic industries that are well-supported in our state so that we could help accelerate their growth,” said Glendowlyn Thames, director of Small Business Innovation and CTNext. “At the finals event in October, we’ll bring together the strongest applicants for pitches and networking with venture capital firms, partners and others.”

For more information on qualifications, requirements, guidelines and application, visit www.ventureclash.com.

About VentureClash
VentureClash is Connecticut Innovations’ global investment challenge focused on early-stage companies. The challenge identifies high-potential companies in digital health and fintech that will receive investments from a $5 million award pool and the support of resources around Connecticut.

About Connecticut Innovations Inc.
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize the growth potential of each business, CI tailors its solutions and often combines its funds with resources from other financial leaders to provide venture capital and strategic support for early-stage technology companies; flexible loans for established companies with new innovations; grants that support innovation and collaboration; and connections to its well-established network of partners and professionals. For more information on CI, please visit www.ctinnovations.com.

Contact: Lauren Carmody
Director of Public Relations
Phone: (860) 258-7829
Email: lauren.carmody@ctinnovations.com