NovaTract Surgical LLC of New Haven Conn. became the first company to “graduate” from Connecticut Innovations’s (CI) Pre-Seed fund to its Seed Investment fund, according to CI.

The Pre-Seed fund allows the developing company to continue “developing their technology until they are attractive to seed companies,” says CI President and Executive Director Peter Longo. Once companies come to the end of the pre-seed stage and begin to look for future investors, the companies can apply to the seed investment funding program at CI. In the case of NovaTract, CI has decided to continue funding it because the company fit the profile when they applied to continue into the seed stage.

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