ROCKY HILL, Conn., October 03, 2016 – Connecticut 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.
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