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February 5, 2016

Expanded incubator welcoming more startups

More startup companies are now calling UConn’s expanded incubator facility in Farmington home.The Technology Incubation Program received $19 million in state funding to expand its incubator location at UConn Health in the state’s Bioscience Corridor.

Construction on 32 additional wet labs and 40 offices was completed last month for use by top technology startups from within and outside of Connecticut, according to UConn. Many of the startups are operated by UConn faculty and are based on innovations developed in their labs.

The program’s incubator offers state-of-the-art equipment and access to expensive, specialized scientific instrumentation that means the difference between a startup being virtual or truly “open for business,” according to UConn. Now that there is additional space, several existing and newly joined companies are able to expand their operations by leasing more labs and offices and hiring additional personnel.

“We already have plans to expand into additional offices and a software development lab in the new building,” said Eric Rosow, CEO of Diameter Health, a healthcare IT company originally founded in Newton, Mass., and headquartered in Farmington. It was named Most Promising Software Company and Tech Company to Watch by the Connecticut Technology Council in 2015.

Since it was established in 2003, the Technology Incubation Program has worked with over 60 technology-based startups. Those companies have raised $45 million in grants and another $64.5 million in debt and equity, while generating over $43 million in revenues by the end of 2014, according to UConn.

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