The IP Factory is Designed to:

Take advantage of a natural resource in Connecticut, its brainpower. Connecticut historically has among the greatest number of patents issued per capita in the country. Many of those ideas have been developed in Connecticut's corporations but have been suspended internally and become prime targets to be commercialized through a technology development process such as the IP Factory.

Develop a pipeline of technology based small businesses in Connecticut ready for investment and take advantage of the potential investment funds created through the Angel Tax Credit and the re-allocation of the Insurance Investment Tax Credits.

Utilize a strong private network of entrepreneurs and people involved in technology business development to apply their talents and experience toward starting new technology businesses in Connecticut.

Foster job growth in the small businesses sector and technology based businesses that have a greater chance of competing globally than other businesses. In general, the multiplier effect from technology jobs is significantly greater than for many other sectors.

Expand job opportunities in Connecticut for those that are already in the workforce, and for those students that are coming out of school with science, engineering, and /or business degrees.

Create a pipeline of entrepreneurial talent as well as a pipeline of opportunities for this talent to take advantage of.

Create linkages with a number of the institutions that are ready to support entrepreneurial activity in CT.

Take advantage of best practices in technology business development from around the country and place them in a Connecticut context.