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“Disrupt Cup” Invites Startups to Compete for $100,000 Prize

  • TechCrunch startup competition offers $100,000 equity-free prize
  • 25 finalists will be chosen to take part in a pitch competition
  • Startup Battlefield will be part of the TechCrunch Disrupt virtual event this fall
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Connecticut DPH Pausing Johnson + Johnson Vaccinations

  • Connecticut Department of Public Health pauses distribution of Johnson + Johnson vaccines after federal recommendation to do so
  • In extremely rare cases, J+J recipients developed severe blood clots
  • Department will work with providers to offer alternative vaccine options, but anticipates some disruptions
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Business News Roundup, April 12, 2021

Concerns about the Johnson + Johnson COVID-19 vaccine, a shutdown recommendation from the CDC, the potential for negotiations on the infrastructure proposal, a call for an ambitious climate goal, a negative response to a proposed corporate tax hike, higher consumer…

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What Does Biden’s Discretionary Funding Request Do For Small Businesses?

  • President Joe Biden’s $1.52 trillion discretionary spending proposal includes a 9.4 percent increase to the U.S. Small Business Administration budget
  • Proposal would also invest in CDFIs and MDIs to assist entrepreneurs in rural and underserved communities
  • Several funding proposals support a broader effort to improve economic opportunities, including investments in education, clean energy, and scientific and technological research
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Connecticut Employers Have One Week to Meet Sexual Harassment Training Requirements

  • Connecticut employers have until April 19 to abide by sexual harassment training requirements
  • Two hours of training must be provided to all workers at companies with three or more employees, and to supervisors at smaller companies
  • Deadline has been moved up several times due to the COVID-19 pandemic, but it is unclear if it will be further extended
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Report Shows Small Business Closures Picking Back Up, Nearing Pandemic High

  • Report from Facebook and Small Business Roundtable looks at closure rates of small and medium-sized businesses worldwide
  • Business closures in February were nearly as common as in the early months of the COVID-19 pandemic
  • More than one in four small or medium-sized businesses had reduced their workforce
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Making Case for $2 Trillion Proposal, White House Provides State-by-State Breakdown of Targeted Infrastructure Needs

  • White House issues state-by-state breakdown of infrastructure needs in the United States as part of effort to gain support for its $2 trillion infrastructure proposal
  • Connecticut needs include 2,100 miles of highway and 248 bridges in poor condition
  • Proposal also provides support in areas ranging from caregiving to clean energy, prompting Republicans to argue that the scope of the proposal is too broad
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Business News Roundup, April 12, 2021

A discretionary spending proposal, a crucial point for economic recovery, higher materials costs and corporate profits, negotiations on Connecticut executive orders, and an extended deadline for an innovation competition are among the top business news items this morning. National President…

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Solvency Support for Small and Medium-Sized Businesses Critical to Preserve Economy, IMF Says

  • IMF report says that government relief programs have focused on maintaining the liquidity of small and medium-sized businesses without adequately addressing their solvency
  • Report warns that insolvencies among smaller companies could be as severe as those after the Great Recession and concentrated in a smaller timeframe
  • IMF recommends quasi-equity investments, better insolvency support, and continued liquidity support
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Funding Options for Startups That Don’t Qualify for PPP

  • A look at funding sources other than the Paycheck Protection Program
  • Some small businesses may not qualify for a PPP loan, or may not be able to receive one before the program runs out of funds
  • Crowdfunding, other SBA loans, “lazy assets,” and more
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