Connecticut invests in startups with Yale engineering ties
Three emerging firms with strong ties to Yale’s School of Engineering and Applied Science recently received $25,000 investments from Connecticut Innovations, a quasi-public state economic development authority.
Seldera, founded by associate professor of electrical engineering Andreas Savvides, is developing intelligent sensing technologies to make buildings more energy efficient.
Scaled Liquid Systems, which involves two recent Yale College graduates, is developing scalable, low-cost liquid cooling solutions for data centers. Entrepreneurs John Scrudato IV and Max Sutter, both ’11, majored in mechanical engineering.
Red Ox Technologies, a third firm involving faculty from the Yale School of Engineering and Applied Science, also received a grant.
The enterprises were among nine projects that received financing from CI’s new TechStart Fund, which aims to spur technology innovation and business formation in the state.
The investments are specifically intended to help young enterprises test concept viability and pursue further financing. The entrepreneurs were invited to participate in a 10-week pilot program that would connect them with mentors and access to other investors.
“By combining funding with concentrated and focused guidance, we will ensure that these teams have the best chance to turn their new business concepts into successful tech-based companies – Connecticut’s companies of the future,” said Claire Leonardi, CI’s chief executive officer and executive director.
Separately, Scaled Liquid Systems and Red Ox have been named participating fellows of the Yale Entrepreneurial Institute’s summer accelerator program.