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Previously known as FAME and home to startups such as women’s apparel brand SoccerGrlProbs, the accelerator has taken on a new identity as Fairfield FUEL.
“The idea of FUEL is to take these fantastic ideas — some of these started by students — and grow them,” said Don Gibson, dean of Fairfield University’s Dolan School of Business.
Since FAME launched in 2013, the accelerator has been home to 10 companies, which have attracted more than $500,000 in fundraising and investments.
Students and entrepreneurs can be connected with advisory, tax and legal services through the accelerator. Gibson also said he hopes it will be a “nexus,” where ideas can be connected with capital.
Fairfield FUEL also recently took on an entrepreneur in residence, Chris Hamer, who Gibson said “personifies entrepreneurship on campus.”
The accelerator dovetails with learning on campus. Gibson said Fairfield University offers a full entrepreneurship minor to students.
U.S. Rep. Jim Himes (D-4th District), who attended the event along with state Sen. Tony Hwang and state Rep. John Shaban, praised the university for its accelerator.
“This is an amazing thing you’ve chosen to do here,” Himes told the audience of university officials, students, professors and mentors.
Himes said the county needs to attract small high-tech businesses such as those at the accelerator. Because Fairfield County is a high cost of living area, he said the future of the area is in "high value-added" businesses.
While many politicians have argued that General Electric — which is headquartered in Fairfield — is leaving the state later this year due to high taxes and a complex regulatory environment, Himes said high-tech companies have thrived in high tax, high regulation environments such as San Francisco.
Hwang, who along with Shaban peppered the student entrepreneurs with questions, said he could sense the positive vibe the accelerator fuels.
“You can feel the energy in this room,” Hwang said.
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