On October 18th, VentureClash plans to hold its third annual global venture competition, where early stage companies in Digital Health, FinTech, Insurtech, and Internet of Things field will pitch their businesses to win a portion of the $5 million-dollar investment fund. The one-day event is open to the public, but the competition is only for the nine finalists who made it through three prior rounds of applications.
Managed by Connecticut Innovations, VentureClash believes that innovation hubs like New Haven, Stamford, and Hartford provide opportunity for mentoring and investment. As such, to be eligible for the competition, the applicant company must currently have a Connecticut presence, be willing to relocate their headquarters, or, for international applicants, build their U.S office there.
Aside from an investment, the awardee also gains access to a network of investors, mentors, and potential customers. The investment will be awarded in preferred equity or convertible debt, with specific terms being agreed upon by Connecticut Innovations and the winning company.
The competition is for early stage companies, meaning they must already bein business for over 12 months, have an existing product, and customers either paying for the product or actively testing them.
VentureClash plans to be held at Yale School of Management in New Haven, Connecticut on October 18th. Among the finalists is Panoply, a smart data warehouse for business intelligence.
