CT Innovation Ecosystem RFQ - Draft for Comment - 1-5-12

8/3/2019 CT Innovation Ecosystem RFQ - Draft for Comment - 1-5-12

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Innovation

Ecosystem………………......

Draft

Request for

Qualifications

January 5

2012

Draft for

Comment



Innovation Ecosystem

Request for Qualifications, 2012 – Draft for Comment – 1/5/12

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Contents

Executive Summary ........................................................................................................................... 4

Section I: Overview & Program Objectives ......................................................................................... 5

Section II: Award Information ............................................................................................................ 6

2.1 Type of Award ...................................................................................................................... 6

2.2 Estimated Funding................................................................................................................ 6

2.3 Expected Number of Awards ................................................................................................ 6

2.4 Period of Performance ......................................................................................................... 6

2.5 Application Timeline ............................................................................................................. 6

Section III: Eligibility Information ....................................................................................................... 7

3.1 Lead Applicants .................................................................................................................... 7

3.2 Applying for Multiple Elements ............................................................................................ 7

3.3 Permitted Activities .............................................................................................................. 73.4 Private Leverage Requirements ............................................................................................ 7

Section IV: Application and Submission Information .......................................................................... 8

4.1 Information on Contract Opportunity ................................................................................... 8

4.2 Letter of Intent ..................................................................................................................... 8

4.3 Deadline for Receipt of Applications ..................................................................................... 8

4.4 Content and Form of Application Submission ....................................................................... 8

Section V: System, Company and Element Performance Evaluation ................................................... 9

5.1 Evaluating the Innovation Ecosystem as a Whole ..................................................................... 9

5.2 Evaluating Each Idea, Team and Company in the Innovation Ecosystem................................... 9

5.3 Evaluating Each Element of the Innovation Ecosystem ............................................................. 9

Section VI: Contract Proposal Narrative ........................................................................................... 11

6.1 Directions .............................................................................................................................. 11

6.2 Standard Questions ............................................................................................................... 11

6.3 Statewide resources and programs ........................................................................................ 13

6.3.1 Business Plan Competition .......................................................................................... 13

6.3.2 Mentor Networks ....................................................................................................... 14

6.3.3 Entrepreneurs-in-Residence (Startups) and Executives-in-Residence (Stage 2 firms) ... 16

6.3.4 Concept Development & Commercialization ............................................................... 18

6.3.5 Eco-system development: Internship Development & Talent Resource Directory ....... 20

6.3.6 Innovation Vouchers ................................................................................................... 21

6.4 System Facilitation ............................................................................................................. 22

6.4.1 System Management .................................................................................................. 22





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6.4.2 Software Platform(s) ................................................................................................... 23

6.4.3 Data Collection, Feedback and Verification ................................................................. 24

6.5 As Part of an Innovation Hub ................................................................................................. 25

6.5.1 Innovation Hub Management ..................................................................................... 26

6.5.2 Concierge ................................................................................................................... 27

6.5.3 Accelerator ................................................................................................................. 28

6.5.4 Entrepreneur Club House ........................................................................................... 29

6.5.5 Entrepreneur Hotel/Co-Working space ....................................................................... 30

6.5.6 Entrepreneur Education.............................................................................................. 31

6.5.7 Choose-Your-Own-Adventure ..................................................................................... 32

Section VII. Approximate Maximum Contract Allocations ................................................................ 33

Section VIII. Internal Controls and Audit Process Narrative .............................................................. 34

Section IX: Application Evaluation and Selection Process ................................................................. 35

9.1 Evaluation Criteria ................................................................................................................. 35

9.2 Review and selection process ............................................................................................. 36

Section X: Additional Information .................................................................................................... 37

10.1 Questions ............................................................................................................................ 37

10.2 Transparency ....................................................................................................................... 37

10.3 Reporting, Monitoring and Inspections ................................................................................ 37

10.4 Timeliness Requirements ..................................................................................................... 37

10.5 Payment .............................................................................................................................. 37





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Executive Summary

The Innovation Ecosystem is designed to address two goals of the State of Connecticut: 1) To be a

globally competitive location by creating a comprehensive strategy and system that attracts, assists and

retains the most likely-to-succeed first-time and serial entrepreneurs as they start and grow emerging

technology companies in Connecticut; 2) To identify and assist a small group of Stage 2 companies (10 to

99 employees) that have the potential to grow significantly in the state through the introduction of newtechniques, innovation and other interventions, including funding.

A number of drivers have created the need for the State to take actions. These include:

• The persistent low relative levels of business and job growth in the state, and the state’s

demonstrated weakness in retaining high-growth firms that start in Connecticut

• The limited and declining percentage of national venture capital funds flowing into the state to

match and support local investment funds

• The rise of infrastructure to support entrepreneurs in cities and states outside Connecticut,

which are attracting and retaining entrepreneurs building fast-growing companies

The Innovation Ecosystem creates infrastructure to support innovation, company formation and growth.

In larger places, many key infrastructural elements are privately run. But in Connecticut, the State has a

catalytic role to play in developing the critical mass of entrepreneurs and support organizations needed

to sustain private investment in this type of infrastructure. If the State is successful, the Innovation

Ecosystem will attract private capital to become self-sustaining. State support will last only a matter of

years and will decline after an initial period of startup and stabilization. The program is designed to

leverage entrepreneurial leadership, energy and funding to create a critical mass of activity that can be

sustainably self-funded in the near future. Many elements require a private match.

For the first year of the Innovation Ecosystem, Connecticut Innovations (CI) will allocate $4.8 Million of

the new funds allocated in H.B. 6801 to this Program, to be drawn on as needed.

The program will be composed of two levels of operations. The levels are a statewide “System” level,

offering services to the second level, composed of multiple “Hubs.” The System programs will be

designed to minimize overhead and respond as much as possible to demand generated at the Hubs.

The Hubs will be centered in a few key urban areas and may be composed of a variety of programs

operated in coordination but separately, or they may be structured as one entity offering multiple

programs under one roof. They may also be created as a combination of these two paradigms. The

intent of this complex structure is to build a flexible state-wide system that will operate with the agility,

competition and performance likely in a region with more entrepreneurial firms and innovation-oriented

support organizations. Organizations responding to this Request for Qualifications (RFQ) are asked to

consider which programs they are prepared to run and which they will access through alliances andcollaboration with other groups.

This RFQ for the Innovation Ecosystem seeks to help private, public and non-profit efforts to create a

robust infrastructure of entrepreneurship support. The RFQ has many elements for which companies,

organizations and individuals may propose solutions. Funding is limited, so it is likely that not every

location applying will be funded, nor that every element in each location will receive support.





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Section I: Overview & Program Objectives

Governor Dannel Malloy convened a special session of the Connecticut General Assembly to address job

creation in the State of Connecticut on October 26, 2011. The General Assembly passed House Bill 6801,

An Act Promoting Economic Growth and Job Creation in the State, which included provisions to develop

a more effective system of innovation and entrepreneur support in Connecticut.

The development of such a system is called the Innovation Ecosystem. Its goal is to elevate

Connecticut’s profile in innovation-based economic development and drive economic growth via the

creation of knowledge-based jobs. As part of the Innovation Ecosystem, Connecticut Innovations (CI), in

concert with the Department of Economic and Community Development (DECD) will oversee a

competitive contract process to provide funding to a number of elements that together will comprise a

more effective infrastructure for entrepreneurs to use as they grow companies.

The goal of the Innovation Ecosystem is to nurture and support entrepreneurs as they develop, launch

and grow companies that eventually create a large number of high-wage jobs. The Innovation Ecosystem

will support entrepreneurs, startups and stage 2 companies by providing them training and education,

peer networks, mentoring, strategic and technical support.





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Section II: Award Information

2.1 Type of Award

DECD anticipates awarding contracts under this competitive funding opportunity.

2.2 Estimated Funding

Approximately $4,800,000 is available for new contract awards in this funding cycle. The maximum

award depends on which element(s) for which the applicant is bidding. Successful applicants may

have the opportunity to apply for additional funding in each of four (4) subsequent annual funding

cycles.

2.3 Expected Number of Awards

DECD will award contracts to a limited number of entities that submit compelling proposals, but will

not award contracts for every element of the system described in every location. Decisions will be

made on a case-by-case basis and will take into account the current and potential critical mass of entrepreneurs in each region an applicant intends to cover.

2.4 Period of Performance

DECD expects that successful applicants will fully obligate and expend funding received under this

contract award cycle within one year of receipt of funds.

2.5 Application Timeline

There will be four opportunities in 2012 to apply for the Innovation Ecosystem contract awards: In

February, March, July, and October. Timelines for the first two opportunities are below. Laterschedules will be released with new RFQ packages later in the year.

Milestones February Track Due Dates March Track Due Dates Draft RFQ Released January 5 January 5 Feedback Due January 13 January 13 Official RFQ Released January 20 January 20

Letter of Intent Due N/A February 3

Pre-Application Due Date February 3 February 17 Information Session(s) TBD TBD Collaborative Work Period February 3 - 10 February 17 to March 9

Application Deadline February 17 March 30 Application Review Period February 24 April 2 – 30 Announcement of Awards February 27 May 16





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Section III: Eligibility Information

3.1 Lead Applicants

In order to be eligible under this competitive funding opportunity, the lead applicant must: Be a private, public, or non-profit entity

Have clear policies relating to internal controls and annual audits; and

Demonstrate that it has the capacity to provide assistance to entrepreneurs and small

businesses.

If a consortium is submitting an application or proposing to create a new entity, a lead applicant

must be identified. The lead applicant must be the fiscal agent for the contract.

3.2 Applying for Multiple Elements

In the event an organization wants to apply as the lead applicant for multiple elements, theorganization must submit one application that deals with every question for each element, and must

describe how the elements complement one another and how the organization will successfully

manage each element.

3.3 Permitted Activities

Successful applicants must use funding received under this program to support entrepreneurs and

companies within their region, as described in the Contract Proposal Narrative description for each

element. Funding received under this competitive contract program cannot be used for

construction-related expenses, nor can the funding be used to finance existing debt.

3.4 Private Leverage Requirements

For many elements, applicants must demonstrate a local matching share from non-state sources

that must be available and committed to the project. This match must be equal to the value

specified for each element in the Budget section of this document. Applicants with even higher

leverage ratios will receive higher merit review scores on criteria 9.1.4 of the Contract Proposal.

The leverage requirement has dual purpose: It is intended to ensure that public money is serving to

fill a gap in the private market that the market is likely to address in the future, given sufficient

development of the entrepreneurial pipeline; and it is necessary due to the limited public funding

available to make sure the system has sufficient funds to make an impact. Matching money willmake an applicant more competitive when it demonstrates validation that the applicant is likely to

accelerate formation and growth of significant numbers of companies.

The private leverage requirement is focused on new cash invested in the specific program of the

proposal, but can also include in-kind contributions, such as contributions of space, equipment or

services. Applicants should provide letters of commitment that demonstrate the local match.





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Section IV: Application and Submission Information

4.1 Information on Contract Opportunity

Please direct all inquiries about this contract opportunity to Kip Bergstrom, Deputy Commissioner,

Department of Economic and Community Development at: [email protected].

Responses to inquiries will be posted on a Q&A web page. Please do not contact any CI board

member or staff member. For more information on this contract opportunity, please attend an

information session, the times and locations of which will be shared with all applicants submitting a

letter of intent.

4.2 Letter of Intent

Applicants are requested to submit the letter of intent before 5 p.m. Eastern Time on the date

specified in the Application Timeline. DECD strongly suggests interested applicants submit a letter of

intent, but failure to do so will not disqualify an applicant that submits a complete application.

In the letter of intent applicants are asked to identify:

The lead applicant

The element(s) for which the applicant(s) are applying

Other organizations that are likely to be partners in the application; and

The Innovation Hub it is seeking to serve

Applicants should submit their letter of intent electronically to [email protected]

4.3 Deadline for Receipt of Applications

The deadlines for receipt of applications are specified in the Application Timeline section.Applications must be received by 5 p.m. Eastern Time. Electronic submission to

[email protected] is required. DECD reserves the right to discuss with the applicant(s) any

items over which it has questions.

4.4 Content and Form of Application Submission

A complete application submitted in response to this funding opportunity will contain three parts:

1. Contract proposal narrative and supplemental information for each element for which an

applicant is applying

2. Budget template including each element for which an applicant is applying

3. Internal controls and audit processes narrative covering each element for which an

applicant is applying

Applications that do not address the information required in each part will not be considered for

funding. The contract proposal may not exceed 7 single-spaced pages, plus 3 single-spaced pages

for every element for which an applicant is applying. Applicants are advised to read carefully the

instructions contained in the Application and Submission Information section. It is the sole

responsibility of each applicant to ensure that a complete application package is received by DECD.

mailto:[email protected]















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Section V: System, Company and Element Performance Evaluation

5.1 Evaluating the Innovation Ecosystem as a Whole

DECD will create a process to evaluate the performance of the Innovation Ecosystem as a whole,based on company formation and growth. The key metrics in this evaluation are: Private capital

raised, revenue growth and job creation. Companies that perform particularly well in these

three metrics are referred to in this RFQ as “High Performance Companies”. The goals of the

Innovation Ecosystem are that each year in Connecticut a new 50 startup companies and a new

75 Stage 2 companies become High Performance Companies.

5.2 Evaluating Each Idea, Team and Company in the Innovation Ecosystem

To allocate scarce resources in the Innovation Ecosystem, Hub Management, Concierge staff,

Mentors and EIR will be responsible for regularly rating every idea, team or company they are

working with based on the expected time it will take each idea, team or company to become ahigh performance company. The System Management will coordinate a system of sharing and

discussing evaluations to improve resource allocation and System design.

5.3 Evaluating Each Element of the Innovation Ecosystem

5.3.1 Every element of the Innovation Ecosystem will be evaluated based on the success of companies

in Connecticut. There are three key quantitative and two qualitative criteria:

I. Revenue Growth

•Percentage growth in company revenue per quarter

II. Job Growth•Percentage growth in full-time equivalents (FTEs) per quarter

•Average salary per FTE

III. Investment capital raised (for startups only)

IV. Net promoter score

•Results of quarterly surveys asking, On a 1 to 10 scale, how likely are you to

recommend the Innovation Ecosystem to other entrepreneurs developing companies?

V. Ascription of helpfulness

•Every company receiving support from the Innovation Ecosystem must set goals and

report both on progress toward those goals and which elements of the Innovation

Ecosystem were most helpful in achieving that progress.

•Every element of the Innovation Ecosystem must evaluate every other element

quarterly for its usefulness and cooperation.

5.3.2 The Innovation Ecosystem software platform, explained briefly in section 6.4.2, will allow

companies to input data and fill out surveys quarterly to track these results.

5.3.3 Each year, every Innovation Hub must bid on the number of companies it expects to be primarily

responsible for helping attain High Performance Company status. Since the system is

collaborative in nature, many elements will contribute to company success. The Ascription of





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Helpfulness process will provide due credit to each element that helped a company, and will

enable elements to receive fractional credit for company success. For example, if a High

Performance Company says one element contributed 60% of the help it needed and four others

contributed equally to the other 40%, then the first element would get credit for 0.6 High

Performance Company and the other four would get credit for 0.1 High Performance Company.





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Section VI: Contract Proposal Narrative

6.1 Directions

The primary purpose of the contract proposal narrative(s) is to demonstrate the degree to which the

applicant has thought through the opportunities and challenges of running each element for which it is

applying. An effective proposal will include not only descriptions of the approach, but also identificationof the barriers to implementation and descriptions of the strategies for overcoming those barriers.

The contract proposal narrative should demonstrate the applicant’s ability to help startup and Stage 2

companies grow. The applicant may demonstrate that ability both through the activities proposed in

this document and by proposing other approaches that would be more effective in achieving the goals

of the Innovation Ecosystem. The length of the contract proposal narrative may not exceed 7 single-

spaced pages, plus 4 single-spaced pages for every element for which an applicant is applying. Each

page shall be 8.5 x 11 inches with not less than 12-point font and 1-inch margins. Supplemental

information provided at the end of the contract proposal narrative will not count towards the page limit.

Supplemental information may include: letters of support or commitment from strategic partners, a

map of the region, organization charts, and résumés of key team members. The contract proposalnarrative and any supplemental information should be submitted as a single Adobe PDF file.

The requirements of what must be included in each component of the contract proposal narrative are

outlined below. Applicants should cite the source of all data presented throughout their application.

6.2 Standard Questions

For each element for which the applicant is applying, please answer the following questions in addition

to the questions in each section that are particular to that element:

I. Financial questions

A. Please provide a detailed budget and a narrative describing and justifying expenditures.

B. Please describe the system of internal budget controls and audit processes.

C. How will the applicant attract and leverage private capital to become financially self-

sustaining? What is the level of private match in the first year? Please provide

documentation in the form of letters of commitment or existing budget commitments.

D. Over what time period will the applicant become self-sustaining? Please show this

transition in the budget. The budget may go out as far as 5 or 10 years if necessary.

II. Management and governance

A. Describe how the element will be managed. Who are the leaders, and what is their

experience? Please provide evidence of their ability to help companies grow.

B. Describe the governance structure. What are the various positions, roles andrelationships? For example, is there a board? What is its role and how does it interact

with the management team?

III. Impact

A. Time to market: Please provide a timeline outlining the process by which the element

will deliver the programming described in the Design section of this proposal.





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B. Performance: By what metrics should the element be judged and how will the applicant

collect those metrics?

C. For existing organizations, please provide historical performance metrics.

D. For new organizations, please share evidence of past performance by the management

team and/or governing board.





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6.3 Statewide resources and programs

6.3.1 Business Plan Competition

I. Description

Business plan competitions will serve as a major funnel for the Innovation Ecosystem,

attracting top-notch entrepreneurial teams with the opportunity to win pre-seed stipendsand professional service vouchers. The goals are to select those with the best chances of

success, and guide them to the most effective resources in Connecticut to help them grow.

There will be one major competition planned on a statewide basis with a global marketing

reach. The winners of this “system” competition will be assigned to various hubs based on

the wishes of the winners and input from hub and system managers.

II. Example

MassChallenge

III. Match

1:2 private match ($1 for every $2 of contract)

IV. Design Questions

A. Selection: Please describe the process the applicant will use to attract, screen and select

entrepreneurs. How will the competition be advertised, to whom, and in which target

markets? What will be the application process? Will there be different categories of

entrepreneurs? Who will judge the applications and what criteria will judges use?

B. Stages: How many stages will the competition have and what will happen during each?

What will be asked of entrepreneurs at each stage and what will be provided them?

What will be provided to entrepreneurs who do not progress to the next stage?

C. Prizes: Please describe the prizes offered to winning companies, including number and

composition. Please document relevant planned or established partnerships with otherapplicants or existing organizations to support company growth.

D. Sources of capital: Please describe the sources of the competition’s funds. Who are the

fund’s investors? What will be the terms of the investments?

E. Calendar: Describe the calendar the competition will use. How long will the

competition run? How many sessions will the competition run per year?

F. Mentorship: Describe the system of mentorship the competition will provide. How will

it work with the statewide mentorship system? What types of mentors will it seek?

How will it recruit, train and manage mentors? Please provide evidence of any planned

or established partnerships the applicant has with mentorship providers.

G. Access to capital: How will the applicant help entrepreneurs seek, attract and secure

capital in addition to that which the competition provides? How will the applicant helpentrepreneurs find, meet and engage with investors and other sources of capital?

Please document relevant planned or established partnerships.

H. Community: How will the applicant help entrepreneurs forge relationships?

I. Size: How many applications can the applicant support? How many entrepreneurs can

the applicant support at each stage of the competition?

V. For Financial, Management and Governance, and Impact questions please see section 6.2.





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6.3.2 Mentor Networks

I. Description

A mentor network is a system through which experienced entrepreneurs who have held

leadership roles in fast-growing companies, preferably with exits, volunteer their time to

help less experienced entrepreneurs develop their leadership capacity and navigate the

myriad challenges of growing a startup company. An effective mentor system screenspotential mentors rigorously for ability. Not all successful entrepreneurs make good

mentors. A good system trains mentors in a Socratic method of engagement, and curates

the group to ensure excellence. A mentor may spend between one and three hours per

week with an individual company. Meetings should be recorded, graded and logged in all

cases. Scheduling and reviewing mentors will be facilitated at the System level.

For older or larger Stage 2 firms the role of mentors will require mentors who have more

specific skills to work with peers or individuals who may be more skeptical or uncertain

about the ability of unpaid individuals to help them in a meaningful way. Therefore, special

recruiting and matching will be required.

II. Example

Entrepreneur Center, Nashville, Tennessee

III. Match

No match required


A. Selection: Describe the process the mentor network management will use to recruit,

screen and select mentors. Explain and describe filters that will be necessary to find

mentors who will be able to best work with startups and those necessary to find

mentors best able to work with Stage 2 firms.

B. Training: How will the applicant train mentors? What are the principles and methods of mentorship the applicant will train mentors to use?

C. Curation: Describe how mentor performance will be evaluated and how under-

performing mentors will be let go.

D. Matching: How will mentors and entrepreneurs or Stage 2 firms be matched? How will

the system pair appropriate mentors with entrepreneurs and stage 2 firms in a dynamic

way that changes according to company needs and growth stage?

E. Relationship management: Please describe the system the applicant intends to use to

manage relationships with and among mentors, entrepreneurs, Stage 2 leaders, service

providers and investors.

F. Compensation: Should mentors be compensated? If so, how? Should mentors be

treated in special ways? If so, how?G. Interaction with innovation hubs: Please describe the relationship between the mentor

network, the mentors, and the organizations in the hubs. Where will mentors meet

with entrepreneurs? Will hubs provide meeting space and if so, how? Assuming

mentors will meet Stage 2 firms in the company’s offices how will the interaction quality

be maintained and standardized?

H. Availability: To what types of companies, located in what areas and involved with which

other elements of the Innovation Ecosystem will the mentor network provide service?





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How will that service be booked and how will the network be compensated for that

service?

V. For Financial, Management and Governance, and Impact questions, please see section 6.2.,

plus the following:

VI. Particular Financial Questions

A. Please provide a detailed budget with an accompanying narrative that describes and

justifies expected expenditures. These might include tools such as iPads, thank you

certificates for dinners, and periodic social gatherings with clients and mentors.

VII. Particular Impact Questions

A. For existing organizations, please provide historical performance metrics, a list of

mentors and the amount of time each works with companies per month.

B. For new organizations, please share the list of proposed mentors, evidence of their past

performance, and the amount of time each has committed to work with companies per

month.





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6.3.3 Entrepreneurs-in-Residence (Startups) and Executives-in-Residence (Stage 2 firms)

I. Description

A system of entrepreneurs-in-residence (EIR) is a more intense application of the benefits of

the mentor network. It will provide a “time-share” portion of the weekly casework of a

seasoned entrepreneur or executive to a worthy startup. In some cases the System may

assign an EIR to a company directly. These seasoned entrepreneurs will have experience ingeneral and specific aspects of growing companies and some will have gone through

successful exits. They may be former corporate leaders or members of accomplished startup

management teams. EIR will have workloads from a few firms at a time to as many as five or

six. They may have subject matter, industry or stage areas of specialization. They will be

employed by the System in most cases and their assignments will be controlled through the

use of Innovation Vouchers that the Hubs may allocate during the course of a year.

However, Hubs may find and deploy their own EIR as well if they raise the funds to do so.

Stage 2 firms will need access to EIR (Executives-in-Residence), and will need specialized and

talented individuals who can drop into on-going and complex situations with strong and

experienced managers who will be looking for very specific and deep skills in a person who

would purport to bring aid to their firms. EIR for Stage 2 firms may fall into the category of

consultants who can be CEO coaches, CMOs, or CTOs and bring short-term bridge skills to a

firm for which the EIR will then find a permanent player or may fulfill that role themselves.

II. Match

1:4 private match ($1 for every $4 of contract) for vouchers and 1:1 match for EIR dedicated

to a hub

III. Design Questions

A. Selection: Describe the process the program should use to recruit, screen and select EIR.

B. Training: How will EIR be trained? What principles and methods of management,

leadership and mentoring should be used with EIR?C. Curation: Describe how the Hub or System will evaluate EIR performance and how

under-performing EIR will be let go.

D. Matching: How will EIR and entrepreneurs be matched? How will the System and Hubs

pair appropriate EIR with entrepreneurs in a dynamic way that changes according to

company needs and growth stage? Please specify how this process will work for both

startups and stage 2 firms.

E. Relationship management: Please describe the system the applicant intends to use to

manage relationships with and among EIR, entrepreneurs, Stage 2 leaders, service

providers and investors.

F. Compensation: How much should EIR be compensated? If at all, how much value in EIR

vouchers will the Hub require? The System is prepared to match $4 for every $1 inmatch the Hubs raise for vouchers to “buy” shares of EIR.

G. Interaction with innovation hubs: Please describe the relationship between the EIR

network, the companies and the organizations in the Hub. Where will EIR meet with

entrepreneurs? Will hubs provide meeting space and if so, how?

H. Availability: To what types of companies, located in what areas and involved with which

other elements of the Innovation Ecosystem will the EIR network provide service?





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IV. For Financial, Management and Governance, and Impact questions, please see section 6.2.,

plus the following:

V. Particular Management and Governance Questions

A. Hubs will be given vouchers for EIR and will have to make choices as to how they are

used and whether relationships should be cancelled at the end of each quarter or

continued. Please describe the methods you would use to judge the value of each EIR

relationship. How will a relationship that has reached diminished or no positive return

be analyzed? How can the news be broken to the parties in a constructive way?

B. EIR will normally be employed by the System and made available to the Hubs through a

triage and allocation formula. Describe how you would like to see this system managed.

C. The Hubs will need to review the progress and impact of the EIR relationships, and will

be responsible for the proper record keeping by both client firm and EIR. EIR should file

weekly reports and assessments of all client firms.

D. It is expected that EIR engagements will run between two quarters and two years.

E. Hubs may recruit their own EIR if they can fund them for their own clients. They may

offer their EIR to the System if the EIR have excess capacity and are interested in finding

additional clients. How would the applicant recruit EIR?

VI. Particular Impact Questions

A. EIR, Clients and Hubs will have opportunities to grade each other on an ongoing basis.

B. Hubs will be graded on the quality of matches they make between client firms and EIR.

C. Hubs will be graded on their ability to use their vouchers in the most productive ways.





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6.3.4 Concept Development & Commercialization

I. Description

Many ideas or early stage technologies need help to become commercializable. Corporate

intellectual property, university research, and ideas by free-floating entrepreneurs may

need assistance of one or multiple of the following types: prototyping; product and process

design and testing; market analysis; business plan assistance; scale-up planning; andmentorship. One or multiple of these services could be provided by university researchers,

student teams, corporate R&D departments, and many of the elements of the larger

Innovation Ecosystem. There is a need for an organization that screens, selects, matches

and funds highly promising projects in need of these types of assistance.

Note: The Concept Development & Commercialization element has no contract opportunity

associated with it in 2012, but is an important component of the system and will likely be

funded in the future.

II. Example

The inspiration for this element comes from the Deshpande Center for Technological

Innovation at MIT and the von Liebig Center for Entrepreneurism at University of California,

San Diego. However, the concept has been broadened to serve ideas from any source,

statewide.

III. Match



A. Selection: Please describe the process the applicant will use to attract, screen and select

projects. How will the process be advertised and to whom? What will be the

application process? Will there be different levels and types of scrutiny for projects of

different sizes? How will the judging process work? What criteria will judges use?What types of judges will be used? Will they be compensated, and if so, how? How will

the selection process handle the wide array of technology concept areas from which

projects will likely apply?

B. Matching: Please describe the method the applicant will use to match projects with

service providers. How will the applicant develop and maintain a knowledge base of

capacities in universities, corporations and the Innovation Ecosystem and how will that

knowledge base be put into/extracted from the Innovation Ecosystem software

platform database, mentioned in section 6.4.2? How far afield will the applicant search

for service providers: Statewide, region-wide, nation-wide or globally? Please document

relevant planned or established partnerships.

C. Project awards: Please describe the system of project awards. What sizes of awards willbe offered? Will awards be broken into stages to force awardees to show progress

before receiving another tranche?

D. Sources and uses of capital: Please describe the sources of the applicant’s funds. What

will be the terms of the awards?

E. Calendar: Describe the calendar the applicant will use to solicit and evaluate project

proposals. How many times a year will it run, or will it be a continuous process?





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F. Eligibility: Who is eligible to receive an award? What requirements, if any, will there be

on the affiliation of the project team or structure of the organization of which the team

is part? Will awards be available only to teams seeking service from another

organization, or can awards be used by the teams themselves to do certain types of

work? If the latter, what percentage funding match will be required to ensure that

awards are leveraging additive projects?






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6.3.5 Eco-system development: Internship Development & Talent Resource Directory

I. Description

There seems to be a shortage of key talent in engineering, programming and systems

management in the state. Yet there are also many good students taking relevant classes

and younger workers with the right experience. How can we match these talents and

needs? The SBIR has one successful program for engineers that we can build on as a model.There may be others as well. Our goal is to have two new resources in addition to the

matching database of the SBIR. The first will be a statewide annual internship program, with

forty $3,000 internship contracts to be matched by Hub client companies from 33% to 100%

and then offered through a competition to state-based students in public colleges and

graduate schools or to Connecticut citizens going to private schools. Ten interns per year

may be granted an additional amount to complete a special project for the company.

Second, each year a problem solving test will be given to all interested students in computer

programming and the resulting skill profiles published in a state-wide directory of

programming talent.

II. Match



A. Selection: How would the applicant recruit firms to take part in the Innovation

Ecosystem Internship program? Would the applicant recruit students to apply for the

internships? How would the applicant recruit students to take the state-wide

programming test and take part in the talent directory?

B. Matching: How would the applicant create a matching process?

C. Special projects: How would the applicant determine which intern projects to fund?

D. Programming test: How would the applicant design the programming test each year?

IV. For Financial, Management and Governance, and Impact questions, please see section 6.2.,

plus the following:

V. Particular Financial Questions

A. How would the applicant encourage firms to contribute matching funds to the

internships? Interns could be allocated based on the size of the match. Is this a good

way to run the program?

VI. Particular Impact Questions

A. What kind of reports would the applicant require and collect for each of the internships.

How would the applicant judge the success of the program?B. Should companies be encouraged to hire interns in future years? How can this be

encouraged?





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6.3.6 Innovation Vouchers

I. This is not a contract opportunity in this RFQ, but is an element that will facilitate other

elements in the Innovation Ecosystem.

II.

DescriptionA. Innovation Vouchers are a means to create a market for the transfer of knowledge.

Projects may take the form of prototyping, product and process design and testing,

scale-up planning, commercialization assistance including market research, business

plan creation and mentorship services, as well as other areas. Projects from

universities, corporate R&D centers, and free-floating entrepreneurs may qualify for

innovation vouchers, which will be funded by the State and delivered through the

Concierge, Innovation Hubs, or other qualified organizations, such as an eventual

Concept Development & Commercialization organization. Projects may use innovation

vouchers to purchase assistance from university research labs and teams, corporate

R&D centers, professional service providers, or other qualified entities in the Innovation

Ecosystem.

B. Vouchers are worth $5000.

C. Projects or companies may apply for up to three at a time. Further applications are

allowed and must describe the results from previous voucher use.

D. Vouchers will be distributed to the Concierge, Innovation Hubs and other qualified

organizations on the basis of the number of companies they bid to get over the High

Performance Company bar each year.

E. Each element distributing vouchers will be evaluated based on the following conceptual

equation: Results for projects and companies using the vouchers, divided by the dollaramounts of all vouchers that element distributed. Elements will be able to give back

unused vouchers to the System before each evaluation period.





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6.4 System Facilitation

6.4.1 System Management

I. Description

The Innovation Ecosystem is essentially a startup organization. As such, it requires flexibility

and agility to adapt quickly to deliver results in a dynamic business environment. For atleast the initial two years of the program, during which the greatest experimentation is

likely to take place while the system stabilizes, the management of the Innovation

Ecosystem will be outsourced.

The System Management is responsible for supervision of all System-level elements of the

Innovation Ecosystem, which includes: Business plan competition, mentor networks,

entrepreneurs- and executives-in-residence, concept development and commercialization,

internship development and talent resource directory, innovation vouchers, software

platform(s), and in a matrixed way, innovation hub management and the concierge service.

The System Management will create the appropriate systems and meetings to maintain a

dense and transparent set of connections, data sharing and general amity between the Hubs

to promote communications, cooperation, and joint problem solving as required to produce

an agile and learning network.

The System Management will maintain the dashboard of all Innovation Ecosystem

operations and will be responsible for encouraging compliance with reporting requirements

and will report to the state on the overall attainment of progress and goals.

II. Match

There is no match requirement for this element.

III. Design QuestionsA. How would the applicant manage or interact with each element it oversees to drive

experimentation, accountability, and results? Please describe the proposed interaction

with each element specifically.

B. How would the applicant interact with hub management and concierge services, which

are also responsible to their respective hubs to strike the right balance of coordination,

autonomy, and flexibility?

C. How would the applicant drive elements to use the software platform to enable

networking, collaboration, lead-tracking and workflow, data collection, and

performance evaluation?

D. How would the applicant support use of innovation vouchers?

IV. For Financial, Management and Governance, and Impact questions please see section 6.2.





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6.4.2 Software Platform(s)

The Software Platform(s) will be awarded through a separate RFP process, but it is

important for Innovation Ecosystem applicants to know that a platform is being created to

enable all elements and participants in the system to find each other, network, collaborate,

manage leads/contacts, relationships, calendars and workflows, and report and track

performance.





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6.4.3 Data Collection, Feedback and Verification

I. Description

The investment of $4.8 million of state money in the ecosystem is a statement and act of

great faith in the innovation community to use the funds wisely and create a significant

impact in the job creation systems with the state. The overall goals of the Innovation

Ecosystem effort are to first, identify and assist startups each year such that at least 50 newcompanies are classified as high performance at year’s end; and second, to identify and

assist 75 Stage 2 firms to grow on average 10% over the next two years.

The progress and success of the many parts of the Innovation Ecosystem will need to be

monitored and analyzed to see if these goals are met. The reason for this is not simply to

point out failure or success but to create an agile, easily improved set of interrelated

activities and actors who can willingly and easily exchange information for the purpose of

understanding what is working and what can and should be changed.

Reflection for the sake of improvement must be the overriding culture of the entire effort.

A system that comprehensively catalogues the performance of the system to encourage

better results without giving incentives to hide or falsify data must be created.

II. Design Questions

A. How would the applicant determine what data needs to be collected and how would the

applicant balance the needs of creating teams, partnerships and strong working

synergies with the need to accurately monitor what the overall and individual parts of

the system were achieving?

B. What architecture for data collection, storing and accessing information should be

created? Should data be collected at the Hub and System level and if so, how can

compliance with reporting needs be measured?

C. Considering the on-going flow of activities, the periodic outcomes and changes of

function and roles – so-called milestone events – how should the data collection beorganized by time and activity?

D. How should reports be compiled and issued periodically? How should real-time

dashboards be established and maintained?

E. How should system updates, recalculations, progress and changes be scheduled? Should

the system seek to find issues and weaknesses on an on-going basis and test them to

see if they are true problems needing repair? Should key parts of system be given longer

periods to self-correct – perhaps one or two years? Which pieces or elements of the

system should be given longer periods of time than others before being reviewed?

F. Since it will take years to fully understand if the overall goals of the Innovation

Ecosystem have been met, how can the on-going data collection and analysis be used as

a surrogate and actual tool to increase the likelihood that the goals will be achieved?

III. For Financial, Management and Governance, and Impact questions please see section 6.2.





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6.5 As Part of an Innovation Hub

The questions relating to finance, management & governance, and impact apply to all elements in an

innovation hub and may, if the applicant(s) prefer(s), be filled out once to apply to the whole hub.

Alternatively, the applicant(s) may answer these questions separately for each element. To save space,

the questions have been written only once below, rather than repeated in each element section. The

applicant must ensure that these questions have been answered for each element in a hub, whether bytreating the hub as a single entity, or by answering each question below for each element.

I. Financial questions

A. Please provide a detailed budget with an accompanying narrative that describes and

justifies expected expenditures.

B. Please describe the system of internal budget controls and audit processes.

C. How will the applicant attract and leverage private funding to become financially self-

sustaining? What is the level of private match in the first year? Please provide

documentation in the form of letters of commitment or existing budget commitments.

D. Over what time period will the applicant become completely self-sustaining? Please

show this transition in the budget. The budget may go out as far as 5 or 10 years if necessary.

II. Management and governance

A. Describe how the hub/element will be managed. Who are the leaders, and what is their

experience? Please provide evidence of their ability to help entrepreneurs grow their

companies.

B. Describe the governance structure. What are the various positions, roles and

relationships? For example, is there a board? What is its role and how does it interact

with the management team?

III. Impact

A. Market potential: Please define the region the hub/element seeks to serve. For thatregion, please provide the most recent possible 5 years of data on the number of

company launches and the amount of growth in terms of capital raised, revenue

generated, and new jobs created.

B. Time to market: Please provide a timeline outlining the process by which the

hub/element will deliver the programming described in the Design sections of this

proposal.

C. Performance: By what metrics should the hub/element be judged and how will the

hub/element collect those metrics?

D. For existing organizations, please provide historical performance metrics.

E. For new organizations, please share evidence of past performance by the management

team and/or governing board.





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6.5.1 Innovation Hub Management

I. Description

A Hub must operate as a coordinated whole, a local innovation ecosystem. Hubs may elect

to have a function that manages and coordinates Hub elements. The applicant must show

the ways in which Hub Management would contribute directly to successful Hub operation

by taking on roles implied in the overall RFQ. These might be contributing the managementoverhead for programs, operations, and data collection and could include mentoring itself.

The Hub Management must have the breadth of skill, contacts and experience to play the

role of “super connector” and triage manager for all parts of the Hub ecosystem and

especially for the key sorting of new and would-be entrepreneurs to the services and

connections they need in a quick and easy way.

The Hub Management will provide communications and daily problem solving for the Hub.

The role must be filled by a credible leader and “explainer” for the innovation community

and must also have the leadership and personality traits to handle the frequent tension,

disappointment and failure that will be part of efforts to find success and growth from the

careful application of funds and talented people to complex and ambiguous problems.

One complicating issue for any Hub Management is that it will have to work with and be

part of a team lead by the System Management team. So the relationship will be a nuanced

and matrix one, since the Hub Management will be paid in part by the System but will be

hired and monitored by the Hubs. In any contract there will be a clause that will allow the

System to suspend payments for Hub Management if it is felt Hub Management is not

performing in a way that best promotes the System’s goals.

Given that there is not enough funding for all Hubs to receive dollars for all programs,

creative use of Hub Management will be an important factor for successful applications.

The Hub Management element does not require matching funds, so it can be used inconjunction with other elements to change the relationship and ratio of System funds to

Hub matching funds. However, the funding and requirements for match for the Hub

Management may change in future years depending on the best practices across all Hubs.


A. Selection: describe the skills and roles of Hub Management. How would the applicant

recruit the necessary talent and create a system, board or institution so Management

performance could be overseen and judged, and changes made easily if needed.

B. Roles: If Management talent will be playing various roles please explain the time to be

allocated to each and how the personnel skills fulfill the needs of these roles.

C. Please explain how you would use the allocated funding to make the Hub successful.D. Explain the nature of the organization that will hire the Hub Management. Is it a for-

profit or a not-for-profit? If the latter, what kind of a 501(c) is it?

E. The key number: How many companies will the element bid to help get over the High

Performance Company bar in year 1? In year 2? In year 3? Remember, elements can

receive fractional credit for High Performance Company success.






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6.5.2 Concierge

I. Description

The Concierge system will connect entrepreneurs with the people, institutions, services and

resources they need to grow. This system could operate in various ways. For example, it

could rely on staff to identify and assist companies demonstrating high levels of readiness

for innovation and growth, or it could be based on an open platform to enable companies toself-identify and access resources. Regardless of the mechanism, the Concierge will serve as

the state’s front door for potentially fast-growing stage 2 companies and will perform a

variety of functions to help those companies achieve their potential:

A. Discovering companies’ goals, wants and needs

B. Connecting companies to the resources they need to grow

C. Providing Innovation Vouchers to firms with sufficient ability to grow and to use the

vouchers effectively.


A. Search: Please describe the process the Concierge will use to search for companies that

could grow fast with some targeted assistance.

B. Selection: Please describe the process the Concierge will use to assess which companies

could achieve the greatest growth.

C. Assessment: Please describe the process the Concierge will use to assess which types of

assistance would provide the greatest benefit to each company.

D. Referral: Please describe the method the applicant will use to match projects with

service providers. How will the Concierge system develop and maintain a

comprehensive knowledge base of capacities in universities, corporations and the

Innovation Ecosystem and how will that knowledge base be put into/extracted from the

Innovation Ecosystem software platform database? How far afield will the Concierge

system seek to identify service providers: Statewide, region-wide, nationwide or global?

Please document relevant planned or established partnerships.E. Use of Innovation Vouchers: Please describe how the Concierge intends to use the

Innovation Vouchers to help companies access the resources they need. What sizes of

awards should be offered? Should awards be broken into stages to force awardees to

show progress before receiving another tranche?

F. Calendar: Describe the calendar the applicant will use to search, select, assess and refer

companies. How many times a year will the process run, or will it be a continuous

process? How many hours does the applicant expect it to take to complete the process

of assessment and referral for each company, and over what time period will such work

be completed? Please offer a plan for achieving the turn-around time described.

G. Eligibility: Which types of companies should be eligible to receive Concierge assistance?






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6.5.3 Accelerator

I. Description

An accelerator invests in a highly select cadre of entrepreneurs for a short time period,

providing intense mentorship, a peer community and space to help startups prepare for

fundraising and launch.

Two models of statewide accelerator architecture are under consideration. The first is that

every Innovation Hub has an accelerator. The second is that there should be only one

accelerator in the state, due to the intensely competitive nature of accelerators and their

need to have as wide as possible a catchment area to attract the best companies.

II. Examples

YCombinator; TechStars; Betaspring

III. Match

1:1 match ($1 for every $1 of contract)


A. Selection: Describe the process accelerator management will use to recruit, screen and

select entrepreneurs.

B. Guidance for others: Will the accelerator management provide any guidance to

entrepreneurs not selected for the accelerator? If so, what type of guidance?

C. Investment approach: Describe the sources, management, and uses of the accelerator’s

investment fund. What is the size of the fund? Who are the fund’s investors? How

much will be invested in each accelerated entrepreneur? When will the investments

occur and what will they support? What will be the terms of the investments?

D. Time limits: Describe the calendar the accelerator will use. What time limits will there

be on entrepreneurs’ presence in the accelerator and their use of accelerator

resources? How many sessions will the accelerator run per year?E. Space: Describe the space and amenities the accelerator will provide to entrepreneurs.

What is the neighborhood like? What amenities are nearby? Will it charge rent?

F. Mentorship: Describe the system of mentorship the accelerator will provide. How will it

work with the statewide mentorship system? What types of mentors will it seek? How

will it recruit, train and manage mentors? Please provide evidence of any partnerships

the organization has with mentorship providers.

G. Programming and curriculum: What types of educational programs and training will the

accelerator provide? How will those programs respond quickly to the changing needs of

entrepreneurs in the region? Please provide evidence of any partnerships the

organization has with programming providers.

H. Access to capital: How will the accelerator help entrepreneurs seek, attract and securecapital? How will the accelerator help entrepreneurs find, meet and engage with

investors and other sources of capital? Please document relevant planned or

established partnerships.

I. Community: How will the accelerator help entrepreneurs forge relationships?

J. Size: How many entrepreneurs will the accelerator support?






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6.5.4 Entrepreneur Club House

I. Description

Provides workspace and mentorship to a highly select set of entrepreneurs for a period of

six to nine months, to help startups learn from each other, continue to seek funding, and

grow their companies. Club houses are generally run by venture capital firms that invest in

a few of the companies in the club house toward the end of their stay.

II. Example

Dogpatch Labs

III. Match



A. Selection: Describe the process club house management will use to recruit, screen and

select entrepreneurs.

B. Guidance for others: Will the club house management provide any guidance to

entrepreneurs not selected for the club house? If so, what type of guidance?

C. Investment approach: Describe the sources, management, and uses of the club house’s

investment fund. What is the size of the fund? Who are the fund’s investors?

D. Time limits: Describe the calendar the club house will use. What time limits will there

be on entrepreneurs’ presence in the club house and their use of club house resources?

E. Space: Describe the space and amenities the club house will provide to entrepreneurs.

What is the neighborhood like in which the club house is located? What amenities are

nearby? Will it charge rent?

F. Mentorship: Describe the system of mentorship the club house will provide. Please

provide evidence of any partnerships the organization has with mentorship providers.

G. Programming and curriculum: What types of educational programs and training, if any,

will the club house provide? How will those programs respond quickly to the changingneeds of entrepreneurs in the region? Please provide evidence of any partnerships the

organization has with programming providers.

H. Access to capital: How will the club house help entrepreneurs seek, attract and secure

capital? How will the club house help entrepreneurs find, meet and engage with

investors and other sources of capital? Please document relevant planned or

established partnerships.

I. Community: How will the club house help entrepreneurs forge relationships with each

other?

J. Size: How many entrepreneurs will the club house support?






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6.5.5 Entrepreneur Hotel/Co-Working space

I. Description

Provides highly flexible workspace to a lightly curated group of entrepreneurs for an

unlimited time period, to help startups and established firms learn from each other and

grow. Entrepreneur hotels, which include both dedicated and communal work spaces, and

co-working spaces are generally run as market-rate real estate enterprises with a focus onproviding excellent, flexible space and amenities, with a strong sense of community. The

organization does not invest in its entrepreneurs.

II. Examples

General Assemb.ly; Cambridge Innovation Center

III. Match



A. Curation: Describe the process management will use to select entrepreneurs.

B. Guidance for others: Will management provide any guidance to entrepreneurs not

selected for the space? If so, what type of guidance?

C. Investment: Will the organization or its managers invest capital in the entrepreneurs or

companies in its space?

D. Time limits: Will there be any explicit time limits on entrepreneurs’ presence in the

space?

E. Space: Describe the space and amenities it will provide to entrepreneurs. What is the

neighborhood like in which the space is located? What amenities are nearby? Will it

charge rent?

F. Mentorship: Describe the ways entrepreneurs in the hotel/co-working space will be

able to connect with mentors. Please document relevant planned or established

partnerships.G. Programming and curriculum: Describe the ways entrepreneurs in the hotel/co-working

space will be able to access training programs and curricula. Please document relevant

planned or established partnerships.

H. Access to capital: Will the applicant help entrepreneurs raise capital? If so, how?

Please document relevant planned or established partnerships.

I. Community: How will the applicant help entrepreneurs forge relationships with each

other?

J. Size: How many entrepreneurs will the space support?






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6.5.6 Entrepreneur Education

I. Description

Successful entrepreneurs possess a wide range of abilities and skills, some of which are

industry specific, and some of which apply to all entrepreneurial endeavors. The education

element shall teach entrepreneurs the skills they need to launch, grow and sell their

companies, and will help to develop the talent they need to fuel their growth.

Note: The entrepreneur education element has no contract opportunity associated with it,

but is an important component of an innovation hub. Only applicants proposing to run hub

management, an accelerator, an entrepreneur clubhouse or entrepreneur hotel are eligible

to apply to run the entrepreneur education element.

II. Examples

General Assemb.ly


a. Targeting: To which types of entrepreneurs will the applicant provide education?

b. Education types: Please describe the types of educational content that the applicant will

deliver. What is the process for selecting that content and for ensuring that the content

changes rapidly to match demand?

c. Format: Please describe the format(s) of education the applicant will provide, including

range of class sizes, in-person or online delivery, lecture, seminar, practicum, tutorial or

other class design.

d. Faculty: Please describe the process for selecting faculty.

IV. For Financial, Management and Governance, and Impact questions please see section 6.5.





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6.5.7 Choose-Your-Own-Adventure

I. Description

This RFQ may be missing elements that would lead more effectively to the formation and

growth of companies that become technological powerhouses, changing industries and

creating jobs and prosperity in Connecticut. Please use this section to articulate elementsthat would improve the Innovation Ecosystem, which the applicant(s) propose to run, either

at the System or Hub level. Please be at least as clear and thorough in the description of the

design, financial, management and governance and impact components of the element as

the prior segments of the contract proposal narrative request.





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Section VII. Approximate Maximum Contract Allocations

Applicants must provide a detailed budget with their contract proposal. Applicants should clearly

document expected expenditures and provide a budget justification narrative that explains how they

propose to expend funding.

Element

2012 Max.

Contract

($000s)

Min. Cash

match ($000s)

Innovation

Vouchers

($000s)

Min.

Cash/Service

match ($000s)

System: Statewide Resources and Programs 750 150 30 150

Business Plan Competition 500 100-250 30 150

Mentor Networks 50

Entrepreneurs- and Executives-in-Residence 50

Concept Development & Commercialization 0 N/A

Internship Development and Talent Directory 150 150

System Facilitation 700 0 0 0System Management 250

Software Platform(s) 350

Data Collection, Feedback and Verification 100

Innovation Hub 690-1,090 175 795 300

Hub Management 185 25 365

Concierge 155 430 300

Accelerator 200-600 100-300

Entrepreneur Clubhouse 100-200 100-200

Entrepreneur Hotel/Co-Working Space 50 150

Entrepreneur Education N/A N/A

Choose-Your-Own-Adventure Unknown Unknown Unknown Unknown





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Section VIII. Internal Controls and Audit Process Narrative

Applicants are requested to provide a narrative that describes their internal accounting and

administrative controls used to safeguard against waste and misappropriation of funding. Applicants

that lack sufficient internal controls and audit processes will not be eligible for funding.





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Section IX: Application Evaluation and Selection Process

9.1 Evaluation Criteria

9.1.1 All applications will be evaluated on a 100 point scale. Evaluations will be based upon the

information provided by the applicant within their contract proposal narrative, supplemental

information and budget.

Evaluation Criteria Points

Design 30

Financial Sustainability 25

Management and Governance 30

Regional Impact and Expected Results 15

Total 100

9.1.2 Each section will be scored on a 0-5 scale using the process described below

Score Description

0 No response provided or response provided not relevant to the criteria item1 Response does not address each criterion in a substantive way

2 Response addresses each criterion in a substantive way

3 Response addresses each criterion in a substantive way and has a reasonable likelihood

of being implemented in the way described

4 Response is a documentable best practice and has a reasonable likelihood of being

implemented in the way described

5 Response is a documentable best practice and has a high likelihood of being

implemented in the way described

9.1.3 Design: 30 points

Design criteria will be evaluated based on the extent to which the applicant presents clear and

well-defined evidence that their proposed model will meet the needs of entrepreneurs inConnecticut effectively. Preference will be given to applicants that find an optimally low

overhead structure that is able to deliver significant results. Preference will be given to

applicants whose management team skills will enable those results, and which have developed

close partnerships with existing organizations and other applicants to provide coordinated,

complementary services.

9.1.4 Financial sustainability: 25 points

Financial sustainability will be evaluated based on the extent to which the applicant presents

and is able to demonstrate a well-defined strategy to ensure both short-term and long-term

financial sustainability of the system element in question.

9.1.5 Management and governance: 30 points

Management and governance criteria will be evaluated based on the extent to which the

applicant demonstrates a qualified, competent and motivated management team and a well-

defined governance structure.





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9.1.6 Impact: 15 points

Impact criteria will be evaluated based on the extent to which the applicant documents and

provides clear evidence in their proposal that the proposed activities will lead to quantifiable

outcomes. In addition, applications will be evaluated on the extent to which the applicant (or

the application team) is able to document and demonstrate an effective historical track record

of producing specific quantifiable results.

9.2 Review and selection process

9.2.1 The state reserves the right to cancel and reissue any or all parts of this RFQ at any point in the

process.

9.2.2 The state reserves the right to award as many or as few contracts as the reviewers deem

sufficiently compelling to warrant public investment, and as available funding limits allow.

Applicants not awarded contracts are encouraged to continue developing their efforts and to

apply again at a later date with a more robust proposal.





Section X: Additional Information

10.1 Questions

All questions should be submitted via email to [email protected]. A list of frequently

asked questions will be developed and posted to the DECD website.

10.2 Transparency

Connecticut Innovations (CI) and the Department of Economic and Community Development

(DECD) are committed to conducting this contract award process in an open and transparent

manner. Applicants are advised that their respective applications and information related to the

review and evaluation may be made publicly available, either fully or partially in accordance

with Connecticut’s Public Records Act, except for those limited documents exempted from

disclosure. Additionally, applicants are advised that quarterly and annual performance reports

will be made publicly available, either fully or partially.

10.3 Reporting, Monitoring and Inspections

Applicants must permit CI, DECD and/or any agent thereof to inspect the physical location of a

project at any time during the project period. Inspections will be conducted during regular

business hours.

All recipients of funding under this program are required to report on their activities. CI/DECD

will withhold payment if reports are not completed in a timely manner. Funding recipients must

submit quarterly performance reports and annual audited financial reports. These reports are

due 30 days after the end of each quarter or calendar year. CI/DECD will provide recipients

reporting templates.

10.4 Timeliness Requirements

Projects selected for funding through this program must begin implementation within 60 days of

receiving an award. CI and DECD reserve the right to terminate a contract at any time if the

recipient fails to adhere to the contract timetable.

10.5 Payment

The method of payment will be on a cost reimbursement basis. Contract recipients will submit a

reimbursement/drawdown form as necessary, but not to exceed one reimbursement request

per quarter. Reimbursement requests must be accompanied with copies of all appropriatedocumentation of allowable expenses incurred. All reimbursements will be provided to contract

recipients via electronic funds transfer.





Documents

CT Innovation Ecosystem RFQ - Draft for Comment - 1-5-12