Startups within the state raised $109 million of funding between January and March of this year - over five times what they raised in the same three-month span in 2018, according to filings made with the U.S. Securities and Exchange Commission.
New Haven Deputy Director of Economic Development Steve Fontana told the News in February that New Haven's commitment to helping new ideas go corporate has created an environment that fosters ingenuity, which attracts startups in a range of fields to the Elm City.
"We will do our part to help foster the growth of technological industries by giving people the opportunity and the means to innovate and create and do work in these kinds of areas," he said.
Kleo Pharmaceuticals, a New Haven-based company founded in 2016 that is working to create synthetic compounds that help the immune system destroy cancer cells, raised more funding this year than all other Connecticut startups, having raised $21 million in just one deal this November. The funding was led by the company's development partner - PeptiDream, Inc. - with participation from Biohaven Pharmaceuticals Inc., a New Haven startup that also serves as Kleo Pharmaceuticals' founding investor.