November 22, 2017

CTNext awards New Britain firm $25K to boost growth

PHOTO | Contributed
PHOTO | Contributed
Glendowlyn Thames, director of Small Business Innovation and CTNext at Connecticut Innovations.

CTNext, a state-backed resource and support network for entrepreneurs, has awarded a $25,000 to New Britain metal manufacturer Addaero Manufacturing to accelerate the company's growth.

The grant funding will be used to boost Addaero's marketing efforts, expand its brand identity and begin targeting new industries that may not have historically used additive manufacturing, said Glendowlyn Thames, executive director of CTNext.

The grant program is designed to support Connecticut early stage companies that are demonstrating promise and have already reached key financial milestones. Criteria includes operating for less than 10 years, having already raised private capital and reporting at least a 20 percent increase in annual gross revenues over the past three years, Thames said.

Founded in 2013, Addaero is a metal additive manufacturing company that uses technology for high-precision applications in the aerospace, defense and marine industries.

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