University's Research with Industry
Receives $3.6 Million Boost
Connecticut Innovations, the state's leading investor in high technology, has announced it will award $2 million for applied research projects to be conducted jointly by Connecticut companies and the University of Connecticut. The 11 participating companies will provide an additional $1.6 million.
The nine two-year projects funded were selected from 26 proposals submitted to Connecticut Innovations' annual Yankees Ingenuity Technology Competition. The competition promotes technological innovation by encouraging partnerships between Connecticut businesses and Connecticut colleges and universities. Funds support applied high-technology research and development projects that lead to marketable products or services. Projects must demonstrate the potential to contribute to long-term economic growth in Connecticut.
Commenting on the awards, Gov. John G. Rowland said, "The Yankee Ingenuity projects are an integral part of Connecticut's efforts to create a diverse, globally competitive economy. Working together, business, academia and government can build an economy that will provide the people of this state with a superior quality of life for generations to come."
Companies whose projects were selected for funding are located in Bloomfield, Bristol, Danbury, Farmington, Guilford, Mystic, Rocky Hill, Rogers, Shelton, Storrs and Stratford. Projects include improving high-speed optical fiber transmission and networking, developing superior fuel cells, reducing vibration in helicopters, and developing cost-effective chip technology for Internet and multimedia applications.
"One of the principal missions of a land-grant university is to advance its state's economic development," said President Philip E. Austin. "Since Connecticut's economic progress so closely correlates with technological innovation, it is essential that the state's flagship university be an active partner with business to link new knowledge to the current and future needs of the marketplace.
"I am proud that the work of so many of UConn's outstanding scholars has been recognized by Yankee Ingenuity," Austin added. "These projects demonstrate the University's capacity to continue to contribute significantly to Connecticut's technology-based economy."
Connecticut Innovations makes risk capital investments in high-technolo gy companies in Connecticut and manages funds and initiatives that foster the development of high-growth, knowledge-based industries in the state.
Since launching the Yankee Ingenuity initiative in 1985, Connecticut Innovations has awarded approximately $50 million to a total of 350 joint research projects. With the addition of funds from participating companies, the total invested is $75 million.
"Innovation drives economies, and research ignites innovation," said Victor Budnick, president and executive director of Connecticut Innovations. "The Scientific breakthroughs generated by the Yankee Ingenuity projects will help make existing businesses more competitive and give rise to the next generation of technology enterprises."