Inc. quotes FML on CT startups

By Frank Milone, CPA, Founding Partner, Assurance & Advisory Services
Aug 08, 2023

Inc. recently published a list of Connecticut startups to watch in 2024 and asked me to contribute commentary. The article is by Matt DeCoursey, host of the Startup Hustle podcast, which highlights startups in a different city or state each month.

Because FML supports so many startups and small businesses in Connecticut, Matt felt I could provide a little background for the article.

The Nutmeg State is home to 712 startups founded since 2018; of those, 167 are tech related. Frank Milone, Yale entrepreneur-in-residence and co-founder of FML CPAs, says it’s no surprise that healthcare, fintech, and defense tech startups are strongly represented on our list.

“Connecticut has a long history with insurance, finance, and manufacturing dating back centuries,” says Milone. “These industries support our vibrant startup ecosystem along with an active group of investors and strong state incentives and programs.”

I also had the chance to provide context on iCleanse and Chris Allen, a longtime friend of the firm and leader in the Connecticut startup community.

“Chris Allen is a well-known figure in the local startup scene,” says Milone. “iCleanse has created a really unique intersection between the device disinfection and advertising industries.”

Allen previously exited iDevices and iGrill with a total value of more than $100 million. His latest venture offers a patented, touchless UV disinfection solution used by over 100 hospitals and organizations nationwide. The stations also include Digital Out of Home (DOOH) media space.

iCleanse acquired ReadyDock in 2020 and, with Allen at CEO along with COO Michael Daigle, raised $3.9 million in four funding rounds.

Read the Inc. article in full to learn about 12 exciting startups right in our backyards, and check out the article Matt DeCoursey and I recently co-authored a piece for Crunchbase on options for startups looking to raise money in a downturn.