2008: A Successful Year for CI — and for the State We Serve

From the Chairman of the Board

As Chairman of the Board of Connecticut Innovations (CI) and Commissioner of the Department of Economic and Community Development, I have a unique vantage point on the state’s overall economic development goals,plans,initiatives and performance.

The Connecticut team, which also includes the Connecticut Development Authority, is working in concert like never before. At the direction of Governor Rell, we are speaking with a unified voice and are collectively focused on supporting Connecticut’s businesses, large and small, helping them to grow and prosper.

Connecticut offers a comprehensive set of economic development programs — and CI’s tech-focused initiatives are some of the most innovative in the nation. From creative financing and assistance programs to our successful outreach and recruitment efforts, CI is helping businesses become more competitive in the global marketplace and solidifying Connecticut’s reputation as a high-tech leader.

This year was another successful one for CI. Our organization made investments in 19 companies, attracted technology ventures to Connecticut, strengthened relationships with university-based research institutions,and achieved successful liquidity events. I am also proud to mention that the CI team received the prestigious national Excellence in TBED Award from the State Science & Technology Institute. The award recognized CI and its Eli Whitney Fund as “best in class” for increasing technology companies’ access to early-stage capital.

But CI does not rest on its laurels. We are constantly re-engineering and strengthening our initiatives to better serve the state’s entrepreneurial technology community.

In the coming year I look forward to working closely with my fellow board members and CI’s staff to develop new and innovative ways to serve our stakeholders, expand our reach and maximize our impact.

Joan McDonald
Chairperson

Please take a moment to review our 2008 Annual Report.