Connecticut House Bill HB06006

Connecticut 2011 Regular Session

• Introduced: 1/25/11
• Refer: 1/25/11

Caption

An Act Concerning Qualified Private Investments For Connecticut Innovations' Pre-seed Program.

Impact

If enacted, the bill would significantly impact the commercial landscape for public university startups by enabling them to qualify for funding that was previously limited to other types of private investment. This change is expected to stimulate innovation and economic growth within the state by ensuring that these startups can effectively compete for initial capital to bring their technological advancements to market. The inclusion of academic resources in the funding definitions represents a strategic move to foster collaboration between education and entrepreneurship.

Summary

House Bill 06006 aims to modify the regulations regarding private investments to enhance opportunities for startup companies emerging from public universities in Connecticut. Specifically, the bill seeks to amend the definition of 'private investment' to include funds from public institutions of higher education, excluding state appropriations, tuition, and fees, that are utilized to assist in the commercialization of technology. The initiative is intended to provide a more equitable platform for university-affiliated startups to access preseed funding administered by Connecticut Innovations, Incorporated.

Contention

While the bill appears beneficial for public university startups, it may spark debate regarding the allocation of public funds and resources. There might be concerns among state legislators about ensuring that such funding does not erroneously divert resources from essential educational services or create an unfair advantage for particular businesses associated with public institutions. Stakeholders will likely have differing opinions on the importance of maintaining a balance between fostering innovation through funding and ensuring that public educational institutions serve their primary educational missions.