‘Program is Roaring:’ UConn-Stamford Business Startup Program Sees Huge Growth

STAMFORD — TIP Digital, a technology incubation program for start-ups focused on data science and hosted at the University of Connecticut’s Stamford campus, has more than tripled the number of participating companies since its launch about eight months ago, according to data released this week by organizations funding the initiative.

The program now hosts 17 data science startups, compared to five in mid-February. These companies employ a total of 109 people, and seven of these companies generate revenue, according to TIP Digital officials.

“We are pleased with the significant growth we have achieved in such a short time,” Margaret Feeney, director of TIP Digital, said in a statement. “The program is filled with energetic entrepreneurs who are excited to be part of the community we are building. They are making exciting progress.”

TIP Digital is a core part of the broader UConn Stamford Data Science initiative, which receives $4.2 million in funding, provided equally by the university and the nonprofit Collaborative StamfordNext. The latter organization provides grants to projects that support local entrepreneurs and innovation.

“TIP Digital has truly exceeded our expectations to attract and propel the data science industry at Stamford,” Wes Bemus, CEO of StamfordNext, said in a statement. “It is exciting to see our city at the forefront of the ‘Fourth Industrial Revolution’ today in which data represents the new oil.”

The TIP Digital companies have collectively raised more than $3 million in additional seed funding since the program launched, according to program officials. FinTron, which focuses on personal finance, has led the group in raising $2.5 million since February.

“I have loved every minute of our partnership with TIP Digital. Her management team has done everything they can to support our growth and development as young entrepreneurs,” Wilder Rampf, CEO of FinTron, said in a statement. Just giving general advice, TIP is always eager to help, and the TIP community has really shown us the breadth of amazing tech talent here in Connecticut. I look forward to growing our business together with TIP and proving the strength of the community.”

Whether one of TIP Digital’s top five startups raised $100,000 as part of its acceptance into the 2021 Summer Roundtable Accelerator, a New York City-based program. Formerly known as ACW Analytics, whether it uses its expertise in Earth sciences and data to predict the impact of severe weather on infrastructure such as electric utility assets.

“TIP is a very incubating environment for early stage companies. It brings full support to the university ecosystem,” Vijay Jayachandran, co-founder and CEO of whether, He said in an interview in March. “It makes us feel good about the support we will have while building our company.”

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