State establishes entrepreneur program
Connecticut is launching an Entrepreneur Learner's Permit program to “encourage and assist first-time entrepreneurs in starting new information services, biotechnology and green technology businesses” by reimbursing them for any state filing, permitting or licensing fees associated with starting their businesses.
The program was established under Special Act 16-1, which allows the state’s venture capital firm Connecticut Innovations, Inc. to reimburse business owners up to $500,000 per year.
To participate in the program, entrepreneurs must apply to the Connecticut Innovations “prior to the formation of their business for which the entrepreneur seeks reimbursement of such fees,” according to the act.
Connecticut Innovations will establish criteria for the review and approval of applications and determine how reimbursements will be provided.
Click here to read Special Act 16-1.