(a) For the purposes enumerated in subsection (a) of section 32-39f, CTNext is authorized and empowered to:

(1) (A) Employ such assistants, agents and other employees as may be necessary or desirable who shall not be employees, as defined in subsection (b) of section 5-270; (B) establish all necessary or appropriate personnel practices and policies, including personnel practices and policies relating to hiring, promotion, compensation, retirement and collective bargaining, which need not be in accordance with chapter 68 but may be in accordance with the personnel practices and policies of Connecticut Innovations, Incorporated; and (C) engage consultants, attorneys and appraisers as may be necessary or desirable to carry out its purposes in accordance with this section;

(2) Receive and accept grants or contributions from any source of money, property, labor or other things of value, to be held, used and applied to carry out the purposes of this section subject to such conditions upon which such grants and contributions may be made, including, but not limited to, grants or contributions from any department, agency or instrumentality of the United States or this state for any purpose consistent with this section;

(3) Make and enter into all contracts and agreements necessary or incidental to the performance of its duties and the execution of its powers under this section, including contracts and agreements for such professional services as CTNext deems necessary, including, but not limited to, financial consultant and technical specialists;

(4) Procure insurance against any liability or loss in connection with its property and other assets, in such amounts and from such insurers as it deems desirable, and procure insurance for employees;

(5) Account for and audit funds of CTNext and funds of any recipients of funds from CTNext;

(6) Establish advisory committees to assist in accomplishing its duties under this section, which may include one or more members of the CTNext board of directors and persons other than members;

(7) Serve as a resource to start-up and growth stage entrepreneurs in this state by (A) providing counseling and technical assistance in the areas of entrepreneurial business planning and management, financing and marketing for start-up and growth stage businesses; and (B) conducting business workshops, seminars and conferences with local partners, including, but not limited to, in-state public and independent institutions of higher education, municipal governments, regional economic development districts, private industry, chambers of commerce, small business development organizations and economic development organizations;

(8) Facilitate partnerships between innovative start-up and growth stage businesses, research institutions and venture capitalists or financial institutions;

(9) Increase the quantity and availability of capital for start-up and growth stage businesses and entrepreneurs including, but not limited to, angel investors and venture capitalists;

(10) Promote technology-based development in the state;

(11) Encourage and promote the establishment of and, within available resources, provide financial aid to advanced technology centers;

(12) Maintain an inventory of data and information concerning state and federal programs that are related to the purposes of this section and serve as a clearinghouse and referral service for such data and information;

(13) Promote and encourage and, within available resources, provide financial aid for the establishment, maintenance and operation of incubator facilities;

(14) Promote and encourage the coordination of public and private resources and activities within the state in order to assist technology-based business entrepreneurs and business enterprises;

(15) Promote science, engineering, mathematics and other disciplines that are essential to the development and application of technology;

(16) Coordinate its efforts with existing business outreach centers, as described in section 32-9qq;

(17) Provide financial aid to persons developing smart buildings, as defined in section 32-23d, incubator facilities or other information technology intensive office and laboratory space;

(18) Coordinate the development and implementation of strategies regarding technology-based talent and innovation among state and quasi-public agencies, including the creation and administration of the Connecticut Small Business Innovation Research Office to act as a centralized clearinghouse and provide technical assistance to applicants in developing small business innovation research programs in conformity with the federal program established pursuant to the Small Business Research and Development Enhancement Act of 1992, P.L. 102-564, as amended from time to time, and other proposals;

(19) Encourage the retention of younger generation start-up entrepreneurs in the state;

(20) Promote entrepreneurship among students, faculty and alumni of institutions of higher education;

(21) Make planning grants to entities seeking to apply for innovation place designation pursuant to section 32-39l, provided each such entity demonstrates that its proposed innovation place meets the purposes set forth in section 32-39k;

(22) Encourage and promote the establishment of business accelerators, including, but not limited to, a satellite of a major national business accelerator;

(23) Make higher education entrepreneurship grants-in-aid recommended by the Higher Education Entrepreneurship Advisory Committee pursuant to section 32-39t; and

(24) Do all acts and things necessary or convenient to carry out the purposes of this section and the powers expressly granted by this section.

(b) CTNext shall:

(1) Develop a plan to facilitate stronger relationships between Connecticut businesses and institutions of higher education in order to support entrepreneurial research and entrepreneurial talent development;

(2) Create an informational Internet web site that (A) lists services, programs or events offered to entrepreneurs; (B) serves as an online community for entrepreneurs; (C) lists current research projects related to entrepreneurship and innovation being conducted by professors at institutions of higher education; (D) provides information concerning innovation and entrepreneurial programming available at institutions of higher education, including, but not limited to, engineering, computer science and bioscience; and (E) connects businesses seeking to buy Connecticut made products for their business inputs;

(3) Publicize such informational Internet web site and any workshops, seminars and conferences facilitated by CTNext;

(4) Advise the Governor, the General Assembly, the Commissioner of Economic and Community Development, the president of The University of Connecticut and the president of the Connecticut State Colleges and Universities on matters relating to science, engineering and technology that may have an impact on state policies, programs, employers and residents, and on job creation and retention;

(5) Designate innovation places pursuant to sections 32-39j to 32-39m, inclusive;

(6) Annually develop, update and implement a strategic state-wide innovation and entrepreneurship marketing plan for the promotion of Connecticut as an innovation and entrepreneurship hub. The executive director shall report, in accordance with the provisions of section 11-4a, to the joint standing committees of the General Assembly having cognizance of matters relating to commerce and finance, revenue and bonding, on or before February 1, 2017, and annually thereafter, concerning the content of such plan;

(7) Establish a program to provide growth grants-in-aid to businesses in this state for the purposes of facilitating the growth of start-up businesses that have transitioned to growth stage businesses. CTNext shall establish an application process for such grants-in-aid and shall prioritize such grants-in-aid for uses most likely to facilitate the growth of such businesses, including, but not limited to, sales assistance, marketing, strategy, organizational development, technology assistance, bid assistance, beta testing of products for new purchasers and prototype development. Such grants-in-aid shall not exceed twenty-five thousand dollars per applicant and shall be conditioned upon a one-third match from the applicant;

(8) Connect entrepreneurs in innovation places designated pursuant to section 32-39m with existing municipal and state resources to assist such entrepreneurs with regulatory compliance; and

(9) Adopt a comprehensive program evaluation and measurement process to ensure that CTNext’s programs are administered appropriately and efficiently, comply with statutory requirements, are cost effective and are achieving the purposes set forth in section 32-39f.

(May Sp. Sess. P.A. 16-3, S. 2; P.A. 17-56, S. 4.)

History: May Sp. Sess. P.A. 16-3 effective June 2, 2016; P.A. 17-56 amended Subsec. (b)(4) by replacing “Board of Regents for Higher Education” with “Connecticut State Colleges and Universities”, effective June 20, 2017.