CETA Connections

On December 4, Connecticut Innovations (CI) sponsored an Entrepreneur’s Day Luncheon Seminar at the University of Hartford attended by students and faculty from CETA and the Barney School of Business. Featured were speakers from CI, a quasi-state agency created by Connecticut in 1989 to provide strategic capital and operational guidance to emerging companies in high-tech industries such as energy, biotechnology, information technology, and photonics. Although CI was originally funded by the state, it has been self-supporting through its investments since 1995. Among the organizations supported by CI are early-stage technology companies and university-business research collaborations.

Dean Louis Manzione welcomed students and faculty from CETA and Barney as well as people from CI and other organizations. He stated that we owe a huge debt of gratitude to CI, who bring together people from technology and business to the benefit of both. Lou also thanked various people who helped to create the luncheon seminar including Roz Reaback, director of major & leadership gifts, Ann Lankford, CETA, and Sandi O’Donnell, Development, who translated the idea into the luncheon; Clif Scorso, assistant dean of CETA, who supported the logistical planning, and Irina Naoumova, assistant professor entrepreneurship, Barney School of Business, who likewise worked to ensure the success of the seminar.

Dean Manzione welcomes participants to the Entrepreneurs Day Luncheon Seminar.

Dean Manzione pointed out that entrepreneurship lies at the heart of U.S. prosperity; the opportunity for average people to start their own businesses is unmatched by other countries, and that opportunity provides a huge advantage, not only to individuals but to the country as well. And so the state of Connecticut, through organizations like CI, ensures that people have help in commercializing their ideas.

Charles Moret, managing director of business development for CI , followed Dean Manzione in emphasizing the importance of entrepreneurship. CI brings people together, he said, to develop their ideas, making sure that people have the help they need to bring their products to the marketplace.

Charles Moret addresses the seminar.

Following Mr. Moret was Mike Roer, the executive director of the Connecticut Venture Group and president of the Entrepreneur Education Foundation, who spoke about the Collegiate Business Plan Competition. This statewide event invites college students to submit business plans that are reviewed by business financing experts. At the spring 2009 finals of the competition, the deadline for which is April 14, 2009, the finalists will make three-minute presentations of their plans to experts who will determine the winners. Top prizes include start-up grants and technology grants.

Mike Roer explains the importance of the Collegiate Business Plan Competition.

Anthony Cuifalo and Brian Smoliga, from Central Connecticut State University, won a start-up grant in last year’s competition. They emphasized how useful the advisory board they formed with CI’s help has been. Feedback on their own ideas and fresh points of view have been extremely important for them as they work on their business called Digi-Wait in an incubator supported by CI. Cuifalo and Smoliga said that other start-ups’ experiences have guided them as they work toward marketing their product.

Anthony Cuifalo and Brian Smoliga explain how the start-up grant they won last year has helped them begin their own business.

Dan Wagner, an investment associate with CI, reiterated the importance of investing in start-ups for the economic well-being of the state and the country.

Dan Wagner addresses the seminar participants.

Irina Naoumova, assistant professor of entrepreneurship and director of the Barney Institute for Entrepreneurship at the Barney School of Business here on campus pointed out that Connecticut learned from the Asian economic crisis of a few years ago and from various studies that show that when entrepreneurship is strong, economies grow. She offered a collaboration of business with engineering and technology and thanked all the speakers.

Irina Naoumova makes the closing remarks at the luncheon seminar.

Students from both the business school and CETA who attended this luncheon seminar expressed their interest in being able to work together start their own businesses.