What is CTNEXT?
CTNEXT is the front door to Connecticut’s supportive entrepreneurial community. Through a network of statewide programs and organizations, CTNEXT partners with promising early stage companies to connect them with the right resources at the right time to help them succeed. Underlying this effort is a belief that our continued ability to help companies thrive in Connecticut depends on finding new and better ways to work together.
CTNEXT is an all-inclusive community. We aim to unite entrepreneurs, government, universities, investors, startups, small and large companies, professional associations and individuals to help Connecticut businesses to flourish and promote a strong entrepreneurial culture.
What is a startup?
The phrase startup is often associated with a high-growth company with at least two people and the ambition to build a scalable company. The founding date is no more than five years prior to application date.
What is a stage 2 or small growth business?
A business less than 99 employees and likely already has a product or two in the market. They have plans to achieve at least 10% annual revenue growth.
What is a Growth Advisor?
In every Innovation Hub is at least one Growth Company Advisor. Our Advisors are experienced technology professionals who have created, managed and sold companies as well as developed products across numerous sectors. Advisors review your business and goals, helping you tackle a range of challenges and identify valuable resources.
How do I apply for support?
Support is provided to companies that are selected after completing a Company Assessment. Each assessment is reviewed by our Growth Advisors and a team of experts with relevant experiences and a diverse knowledge base.
What is the criteria to be selected and receive support?
To be eligible, your company must meet the following criteria:
- Is either a startup or stage 2 (small growth business company).
- Is identified as “high-potential” based on review of your Company Diagnostic by our Growth Advisors.
- For startups, a high potential company would have a reasonable probability of achieving $5m in revenues in 3 years.
- For stage 2 companies, high potential means sustaining growth in revenue and/or jobs at rates of at least 10% per year.
- If you do not already operate in Connecticut, your intention must be to own and operate your business here.
- While support is available for companies from any industry, the focus is on:
- Bioscience
- Information Technology
- Energy and Environment
- Photonics/Applied Optics
- Advanced Materials/Manufacturing
- Engineering
Is every company selected?
While all companies will be reviewed and met with, support through this program and our Partners is focused on companies with the greatest potential for growth.
What data is required to provide?
General company information including employees, current revenues, competition, market size and goals to assess support. This information also helps us to develop a more effective system of entrepreneur support in Connecticut and promote entrepreneurship as a driver of economic growth. Proprietary information is not required to receive support.
Is my company data secure?
We maintain the security and privacy of all company data. Only aggregate data is public and used for reporting purposes.
What services can my company expect to receive?
Our Growth Advisory services are tailored to your company’s objectives and goals. Companies receive an initial comprehensive diagnostic to assess strengths and weaknesses. Customized action plans, which could include mentorship, subject matter experts, homework, or company referrals are developed next to help overcome growth challenges. From here the focus is on case management in order to help the company make decisions as they do or do not gain traction in the market place.
If I’m comfortable with the size of my company but still want to get involved, can I?
Yes. You can join by becoming a mentor or subject matter expert, or connect with other innovators and entrepreneurs through our many educational programs and networking events. Find your next collaborator or share experiences with other entrepreneurs through www.ctnext.com
Where can I find the application form for an assessment?