East Hartford’s IP Factory is identifying Connecticut’s undeveloped but viable patented technologies with the potential to add jobs and boost the state’s economy, and putting them to work.
In a recent Hartford Business Journal article by Matt Pilon, IP Factory’s CEO Chris Kalish confirmed his conviction that Connecticut has a number of patented technologies waiting to be discovered; projects that are often shelved for budgetary reasons, or misalignment with the primary business focus.
Chris and his team of volunteer entrepreneurs are ready to help restart stalled projects by proposing alternative markets or forms of business operations.
“We’re still an early-stage company for incubating companies,” Chris said. “Everything we’re working on is designed to get us to the next level — get more staff, spin more projects off.”
Founded by CTC’s President and CEO Bruce Carlson in 2011, the IP Factory has supported entrepreneurs with marketable technology patents with the goal of generating revenue. The Factory has one company up and running, and launch plans for three more in the wings. Its first company, Signitsure, was developed in conjunction with a team of UConn students, as an offshoot of Pitney Bowes.
UTC alone has more than 35,000 patent assets. David Parekh, UTRC ‘s VP of Research and Director said “As we change and evolve, we often might have IP that may be more useful to pursue in partnership with others.”
The IP Factory has received more than $600,000 from Connecticut Innovations. With its recently achieved nonprofit status, the IP Factory is newly qualified for state and federal funding and grants.
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