Connecticut Innovations Makes $450,000 Investment in Three Local Startups

E-commerce, digital media and clean technology companies receive
infusion of funding
Rocky Hill, Conn., November 29, 2012 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for growing Connecticut businesses through innovative financing and strategic assistance, today announced that it has committed funding totaling $450,000 to three startup companies focused on e-commerce, digital media and clean technology through its Pre-Seed Fund: 
  • Green Buildings Online Inc. (Ridgefield, Conn.)
  • InLineAdz Inc. (Westport, Conn.)
  • P2 Science Inc. (New Haven, Conn.)

“We continue to see a strong pipeline of startup technology companies here in Connecticut,” said Claire Leonardi, chief executive officer and executive director of CI. “Our goal, in concert with the Malloy administration, is to make strategic investments in those companies that have the greatest potential to succeed, grow jobs and strengthen Connecticut’s position in the high-tech economy. These three companies demonstrate such promise.”

Green Buildings Online Inc. is an online media company providing green building professional education, training and information through its websites Green-Buildings.com  and PoplarNetwork.com. Green-Buildings.com helps green building professionals prepare for the Leadership in Energy and Environmental Design (LEED) examinations. Since 2009, the site has helped over 30,000 professionals from over 50 countries earn their LEED credentials.

The company launched PoplarNetwork.com, an online professional networking site, at the Greenbuild conference in San Francisco this month. It intends to build the site into the equivalent of “LinkedIn meets Angie’s List” for the $100 billion green building industry. The Poplar platform will connect green building professionals with their target audience of building owners. Professionals can create a free account, post profiles and projects, answer questions and bid on projects. Poplar aims to become a centralized marketplace for green building jobs, information, professional services and products. CI’s pre-seed funding of $150,000 will help Green Buildings Online develop and promote this new site.

InLineAdz Inc. (www.inlineadz.com) provides digital sign branding solutions to local businesses. The company places large high-definition television screens in high-traffic local businesses and then offers local merchants and business owners the opportunity to place messages on those screens. To deliver its solutions, InLineAdz uses a combination of traditional and modern technologies; it combines an HDTV with a digital signage player, software and Internet access (for live feeds). Its screens are divided into four primary sections that include news, weather, time and local business owners’ ads, which rotate to captivate the viewer. InLineAdz screens are located in 19 states at 50 installed locations and generate approximately seven million viewer impressions annually. The company plans to use CI’s pre-seed f unding of $150,000 to expand its operations.

P2 Science Inc. (www.p2science.com) is a specialty chemical company dedicated to producing high-value, high-margin consumer and industrial product ingredients from biomass. The company has developed a novel chemical process, based on a mature process known as hybrid ozonolysis, that enables the conversion of biomass, including vegetable oils, into aldehydes for use in fragrances and flavors and into di-acids for use in certain cosmetics. The products, derived from canola, palm and corn oils, will replace chemical ingredients previously only available from petrochemical sources, thus meeting the demand for “green” alternatives in the marketplace. P2 Science has licensed some of its intellectual property from Yale University and has established a collaborative relationship with the University of Alberta. The co mpany will use its pre-seed funding of $150,000 from CI for activities related to product development and pilot production.

About Connecticut Innovations Inc.
Connecticut Innovations (CI) is a quasi-public corporation providing equity, debt and bond financing and other forms of financial assistance to companies in all stages of the business life cycle, from startup to later stage. CI offers its portfolio companies strategic guidance and collaborations with partners in business, finance, education, government and nonprofit sectors. CI’s initiatives are designed to grow the state’s economic and technology base, and to stimulate business investments and job creation. For more information on CI, please visit www.ctinnovations.com.

About Michael Romano

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>