Connecticut Innovations (CI), a Connecticut-based strategic venture capital arm, announced on Monday it has opened applications for its $5 million global venture challenge, VentureClash. According to CI, VentureClash is for early-stage digital health, fintech, insurtech, and industry 4.0 companies.
To be eligible to apply, a company must:
- Have been in business for at least 12 months
- Have paying customers or customers that are actively testing the applicant’s product
- Have a compelling business reason to create a Connecticut presence, which applies to domestic and international applicants
- Be focused in digital health, fintech, insurtech, or industry 4.0 (including sustainable materials and resources)
VentureClash will be hosting a pitch competition in Tel Aviv on Thursday, May 23, 2019. The event will invite promising companies from Israel to compete for a $500,000 investment from Connecticut Innovations, a semifinalist spot in VentureClash 2019 and a $5,000 grant to visit Connecticut in August. To apply for the Tel Aviv pitch competition, companies must submit applications by Friday, March 15, 2019.
While sharing more details about the competition, Matt McCooe, CEO of Connecticut Innovations, stated:
“There is a dense concentration of fast-growing startups in Tel Aviv. Over the past few years, many Israeli companies have competed in our semifinals and finals rounds. This year, we are taking VentureClash to Israel to meet companies that are ready to expand to the United States.”
VentureClash launches the first-round application on February 1, 2019, and companies will have until June 7, 2019, to submit the application.