● CII's board of directors consists of 15 members appointed by the governor and legislative leaders. The chairperson serves a four-year term.

● The governor appoints the chairperson.

● Both houses confirm the chairperson.

● Six of the eight members appointed by the governor must be knowledgeable and skillful in developing innovative technology, including academic research, technology transfer and application, and enterprise development.

● CII is a quasi-public agency that helps entrepreneurs research, develop, and market new technologies through equity investments, technical assistance, and programs addressing the needs of specific technology industries.

1. You're in a unique position: You're the Department of Economic and Community Development (DECD) commissioner, an ex officio member of the Connecticut Development Authority's (CDA) board of directors and, until recently, an ex-officio member of CII's board of directors. Now you're before us as the governor's nominee for CII board chairperson.

n Why do we have three economic development agencies?

n The governor proposes consolidating CDA and CII. Do you foresee any problems arising from the consolidation?

n Should the governor add DECD to the mix?

2. CII, like CDA is a quasi-public agency.

n How is CII different than DECD?

n How does operating independently of the governor and legislature benefit CII's customers?

n Do quasi-public agencies do a better job at economic development than state agencies? Do CII's employees work harder than DECD's? Are they more creative or innovative?

n Have you learned anything from your experience on the CDA and CII boards of directors that you've incorporated into your DECD leadership, or vice-versa?

3. As a CII board member, how did the board set CII's goals and objectives and oversee its operations? Now that you're moving up to board chairperson, will you change the way the board performs these functions?

4. CII invests venture capital in certain technology sectors, such as bioscience. How did CII choose these sectors? Are the businesses in these sectors likely to stay in Connecticut over the long run? If not, why? What does CII do to keep them here?

5. Has CII identified any new or emerging technologies and the businesses that are developing them? How does it engage the entrepreneurs and businesses developing new technologies?

6. To what extent does CII support university-based research and development with possible commercial applications? What proportion of CII's dollars underwrite this activity? What are the economic benefits of supporting university-based research? How long does it take for that research to make its way into the market?

7. As a quasi-public agency, CII receives no General Fund appropriations and instead relies on its investment earnings to cover its operating costs. How does this affect CII's investment decisions? For example, does it cause CII to invest in projects offering relatively higher rates of return over shorter time-periods?

8. One way CII stimulates technological innovation is by providing long-term, patient capital for new and established businesses developing new products and techniques. But some business researchers suggest that money isn't enough, that the way businesses organize themselves often frustrates innovation.

n What are the hallmarks of a business that is constantly innovating?

n How does CII foster innovation in addition to providing venture capital?

9. Dow Jones VentureSource recently reported a 60% drop in venture capital funding in Connecticut, from $364.3 million in 2007 to $142.9 million in 2008.

n What caused the drop?

n Did CII foresee it?

n How does it affect CII?

n What can CII do to get the venture capital flowing again?

JR:ts