Connecticut’s quasi-public venture capital arm is planning to throw its support behind the state’s efforts to attract foreign companies.

Connecticut Innovations (CI), which hired a new CEO last year, is planning an international venture capital contest, open to U.S. companies, that would culminate late this year with several million dollars in debt and equity investments in winning firms that agree to move to the Nutmeg State.

CI is calling the contest the “global venture challenge” for now, but will unveil an official name once it rolls out its marketing push in the U.S. and abroad.