On Tuesday night, the Connecticut chapters of the Association for Corporate Growth and the Turnaround Management Association held their fourth annual economic forum. The event featured a keynote address by Congressman Jim Himes as well as panels of economic experts and business and community leaders on the condition of Connecticut's economy.
Of particular interest to the VLD was a panel entitled "From Cradle to Grave & Everything In Between: A Practical Guide to Running & Funding a Business in Connecticut" that included Christian Lund from Hamilton Robinson Capital Partners (a Stamford based private equity firm), Claire Leonardi (CEO of Connecticut Innovations) and Michael Fedele (former Lt. Governor of Connecticut). Each of the panelists spoke about their respective backgrounds working with start-ups and shared some helpful suggestions and insightful anecdotes. They also spoke about many of Connecticut's attributes that make it a great place to start a business (educated workforce, good quality of life, proximity to NYC and Boston) and some of the areas the state needs to work on (high cost of doing business, transportation). The panelists also mentioned the continued challenge in connecting business in Connecticut with the right state financing and advisory programs that help companies grow. During the Q&A, one audience member stated that, when negotiating with the State of Connecticut, he was often told certain deal terms weren't up for negotiation as they were "boilerplate." He said this wasn't a response he had received from other states' economic development teams. In answering, Ms. Leonardi noted that, while Connecticut was bound by law to include certain provisions in deal documents, they do make a concerted effort to be fair and market. Overall, an interesting panel and another good opportunity to hear from a diverse set of viewpoints on Connecticut's start-up economy.
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