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Innovation Ecosystem

UpdateDecember 2011

Version 5.3

12.22.12

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Meeting Agenda

Introductions

Update

Group Exercise What are two things that you think could go

wrong with our plan?

Discussion

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Why are we here?

Promote and assist growth of faster growing

innovation-based companies and add new

jobs to state

Build additional TBED (technology based

economic development) capacity

Build sustainable placed-based institutions

and networks to increase culture of innovation

and attractiveness of the state

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Goals

Produce 50 High Potential Startup (HPSU) firms

annually (from hundreds helped each year)

Track for 5 years (backward looking)

Reassert their HPSU status each year

Identify 75 Stage 2 companies (S2) assisted to

grow jobs or revenues 20% over following 24

month period (from ~2,500 S2 firm candidates) Track for 5 years (those selected)

Assess success and change models for selection

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Process

Listened to advisory groups

Created model

Built RFP process

Layers of activities

State System & Hubs

Funding is part of $125m/5 years for CI

DECD overview > Bonding $ > CI > IE contractors Get started in 2012, mostly operational by

start of

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Currrent RFP Timeline

Milestones General Due Dates Fast-Track Element Due Dates

Grant Criteria Released January 2 or 16 January 2 or 16

Letter of Intent Due Date January 13 or 27 January 13 or 27

Information Session TBD TBD

Application Deadline March 30 or 4/13 January 31

Application Review Period April 2 30 or May 1-14 February 1-February 15

Announcement of Awards May 1 or May 16 February 17

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Key Facts about RFP

$4.8MM maximum to be awarded in 2012

But flexible because bonding money can be rolledover to future years

Applicants

Be a public, private, non-profit, or for-profitentity

Can apply for multiple elements

Must bring significant private leverage

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A diverse planning group

Startup

Connecticut

Planning

Board

Angels,

LaunchCapital

StamfordInnovation

Center Yale &UConn

CTInnovations,

CDA, CEFIA& SBIR

CERC,Connstep

&

CCAT

Tech Council&

VentureGroup

CURE,BEACON &CT Science

Center

SerialEntrepreneurs

& Ent.

Foundation

CROG, IPFactory,

New HavenEcon Dev

Corp.

VentureFunds

AdvisoryBoard

Repsfrom the4 Hubs

Entrepreneurs,Stage 2 CEOs

Sub-Group ofPlanning

Group

A combination of

Entrepreneurs, NGOs,

Government and

business leaders workingtogether

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The Innovation Ecosystem - Overview

Attractiveness

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Overall Environment

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Sources

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Hubs Stage 2

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System How Goals are achieved

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System - Oversight

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Hubs

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Assistance at Hub and System Level

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Funding

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The Ecosystem

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Budget: System & Per HubElement Public Investment

($000s)

Private Investment

($000s)

Each Innovation Hub $950 $850

- Accelerator 200

-Entrepreneur Clubhouse 100 200

-Entrepreneur Hotel 50 150

-Hub Management 150- Stage 2 Concierge Service 150

- Innovation Vouchers (average) 300 300

State System $1,975 $550

Business Plan Competitions 500 250

Mentor and EIR Management 100

Entrepreneurs in Residence (for hubs) 300 75

Commercialization Concept Development 350 150

Internships and Talent Directory 125 75

System Management 250

Measurement & Verification 100

Software Platform 250

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Exercise

Full group

On paper write five issues that concern you aboutitems such as: Budget

Design

Operations

Accountability & measurement

Goals

Other

Presentations

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Conclusion

Additional thoughts

Changes will be made

Next meeting in January Thanks

Happy Holidays!

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Background Slides

Example RFP question areas

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Design Questions

Selection

Guidance for others

Investment approach

Calendar Space

Mentorship

Programming and curriculum

Access to capital Community

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Financial Questions

Budget

Controls

Leverage

Financial sustainability

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Management and Governance

Questions

Management

Governance

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Impact Questions

Expected number of companies to be produced

Time to market

Performance

Track record