ROCKY HILL, Conn., August 2, 2018 – Connecticut Innovations (CI) today announced that Stanley Black & Decker has awarded its $25,000 VentureClash Innovation Prize to DOZR, a company that has created an innovative new marketplace for the rental of heavy equipment.
Managed by Connecticut Innovations, VentureClash is a $5 million global venture challenge for early-stage companies in digital health, financial technology, insurance technology and the Internet of Things. To award its prize, Stanley Black & Decker evaluated VentureClash semifinalists to identify new technologies and business models that could accelerate solutions for those who make the world.
“We are excited to announce DOZR as the winner of the Stanley Black & Decker VentureClash Innovation Prize in recognition of their efforts to improve the lives of those who make the world,” said Mark Maybury, Stanley Black & Decker’s chief technology officer. “Heavy equipment is a large capital expense for contractors who face real challenges with quickly identifying the availability, location and costs of rental equipment. Their solution leverages technology to benefit both contractors as well as heavy equipment owners who often have underutilized machines.”
Founded in 2015, DOZR facilitates the short- and long-term rental of heavy equipment across North America. The DOZR platform enables business owners to earn additional revenue from their idle equipment and allows contractors to rent equipment at lower rates than traditional rental companies.
“Stanley Black & Decker is committed to the development of innovation within the organization,” said Matt McCooe, CEO of Connecticut Innovations. “We’re thrilled that they joined our VentureClash efforts this year through the Innovation Prize and excited to see that they selected DOZR as the winner.”
The Stanley Black & Decker Innovation Prize was announced at the VentureClash semifinalist pitch event at Upward Hartford on Thursday, August 2, 2018. If DOZR establishes a Connecticut presence, the company will be eligible for an additional $25,000 in grant funding from Connecticut Innovations.
The finals event, which will feature 10 competitors, will be on Thursday, October 18, at the Yale School of Management in New Haven, Connecticut. For more information and to register to attend the finals event, visit www.ventureclash.com.
Managed by Connecticut Innovations, VentureClash is Connecticut’s global venture challenge focused on early-stage companies. The challenge identifies high-potential companies in digital health, fintech, insurtech and the Internet of Things that will receive investments from a $5 million investment award pool. Learn more at www.ventureclash.com.
About Connecticut Innovations Inc.
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and is the leading source of financing and ongoing support for innovative, growing companies. CI provides venture capital and strategic guidance for early-stage technology companies, and connections to its well-established network of partners and professionals. For more information, please visit www.ctinnovations.com.
About Stanley Black & Decker
Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories; electronic security solutions; healthcare solutions; engineered fastening systems; and more. Learn more at www.stanleyblackanddecker.com.