One of the earliest stops for a tech entrepreneur in search of funding is Connecticut Innovations, Inc., the Rocky Hill-based quasi-public fund that has given many of the state’s startups an initial boost.
But today, with the exception of biotech, a tough venture capital market is keeping tomorrow’s entrepreneurs toiling at their day jobs, says CI Executive Director Victor R. Budnick: “In life sciences we’ve seen an increase, in other areas, we’ve seen a decline. At this part of the venture cycle, people who are currently employed are holding onto their existing positions. They may be planning, but they’re not stepping out. So the rate of venture formation has paused.”
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