State of Connecticut Statistics

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Presentation by Liddy Karter - Executive Director, the Connecticut Venture Group. Presented at the April 12, 2011 Crossroads Connections Breakfast - Exits & Trends - Stamford, CT.

Liddy serves as a Managing Director of Enhanced Capital and, as Executive Director of the Connecticut Venture Group, is responsible for overseeing investment activity in Connecticut. She brings experience in clean tech venture capital, corporate finance, and early stage company management. Prior to joining Enhanced Capital, she was a Managing Partner at IRON Ventures, a venture fund investing in sustainable business ventures enabling symbiotic reuse of energy, industrial material and water.

Prior to IRON Ventures, Liddy was CEO of Resource Recovery Systems, Inc., a nationwide recycling company and CFO of Netkey, Inc., an ecommerce software company. Prior to that, she was Vice President of the Financial Services Group at Morgan Stanley. Liddy is active in angel investing and serves on the Board of the Angel Capital Association. She is Executive Director of the Connecticut Venture Group, a statewide trade association for venture funds in Connecticut and serves as a Mentor at the Yale Entrepreneurial Institute.

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State of Connecticut Statistics

  1. 1. Venture In CT? <br />1<br />Liddy KarterExecutive Director,Connecticut Venture Group <br />LKarter@CVG.org203 376 7958<br />
  2. 2. VC Challenge in CT<br />2<br />4th in $ managed<br />14th in $ invested each year <br />LKarter@CVG.org<br />
  3. 3. VC- 13% of Private Equity $<br />3<br />LKarter@CVG.org<br />
  4. 4. US Allocation of $ Invested by Stage<br />4<br />LKarter@CVG.org<br />
  5. 5. CT 4TH IN VC $ MANAGED<br />5<br />LKarter@CVG.org<br />
  6. 6. CT 14TH IN VC $ INVESTED<br />6<br />LKarter@CVG.org<br />
  7. 7. Barely Visible VC investment<br />7<br />LKarter@CVG.org<br />
  8. 8. #2 in VC $ Exported<br />8<br />LKarter@CVG.org<br />
  9. 9. CT Increasing $ Managed<br />9<br />LKarter@CVG.org<br />
  10. 10. Strategic Mission<br />10<br />Get more VC $ invested in CT<br />Increase VC $ managed in CT<br />Increase # of VC backed successes<br />LKarter@CVG.org<br />
  11. 11. Vision, Mission and Brand<br />11<br />The explicit mission: <br /> “To assist<br /> the development of <br />high growth enterprises <br /> through the promotion of capital formation <br /> in Connecticut”<br />LKarter@CVG.org<br />
  12. 12. Role of State Government<br />12<br />Reach out to VC principals <br />Help them<br />Thank them<br />Provide university support for R&D<br />Support VC process<br />Limit regulation for small companies<br />Target Incentives to High Potential Companies<br />LKarter@CVG.org<br />
  13. 13. VC Tax Credits<br />13<br />LKarter@CVG.org<br />
  14. 14. Role of Federal Government<br />14<br />Improve Capital Access <br />Stabilize tax treatment of VC Funds<br />Streamline IPO/reporting Process<br />Increase Support for Basic R&D<br />Improve VISA rules<br />Support VC process with tax incentives<br />Capital Gains treatment- permanent<br />Matching grants for Commercialization<br />Limit regulation for small companies<br />LKarter@CVG.org<br />
  15. 15. Potential for Job Growth<br />15<br />$25,000 of venture investment = 1 job<br />If CT performed like MA in 2010 we would have had 18,000 additional jobs; about 11% of the unemployed in CT.<br />According to Indeed.com and salary.com the average wage in Venture backed companies is $89k/yr. Average wage in CT is $76k.<br />$1.6B in CT wages<br />Income Tax Revenues of $82MM/year<br />LKarter@CVG.org<br />
  16. 16. CVG Outreach Plan<br />16<br />LKarter@CVG.org<br />
  17. 17. Objectives<br />17<br />Increase Successful deployment of Venture Capital in CT<br />Resources<br />Venture Principals<br />Venture Support community<br />State and Federal Government<br />Universities<br />Investors<br />Entrepreneurs<br />LKarter@CVG.org<br />
  18. 18. Next steps for CVG and CT<br />18<br />Prioritize legislative agenda for Capital Access<br />Annual meeting with VC principals and Governor<br />Create University VC connections -speakers<br />CT link with Start-Up America and Office of Innovation and Entrepreneurship – appoint team from State, University and VC<br />LKarter@CVG.org<br />
  19. 19. Sources and Links<br />19<br />Office of Innovation and Entrepreneurship<br />http://www.commerce.gov/news/press-releases/2009/09/24/commerce-secretary-locke-announces-new-commerce-initiatives-foster-in<br />National Venture Capital Association<br />www.nvca.org<br />2011 yearbook- Thomson Reuters<br />PWC Money Tree<br />www.pwcmoneytree.com<br />WI Dept of Commerce<br />www.commerce.state.wi.us/bd/BD-Act255-Venture capitalseedfund.html<br />LKarter@CVG.org<br />
  20. 20. Thank You!<br />20<br />Liddy KarterExecutive Director,Connecticut Venture Group <br />LKarter@CVG.org203 376 7958<br />

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