The Connecticut Bioscience Innovation Fund (CBIF) seeks to drive innovation in the biosciences throughout Connecticut by providing focused financial assistance to startups, early stage businesses, non-profits and accredited colleges and universities.
Connecticut Innovations will manage the $200 million fund, which will make investments over the next 10 years in the form of grants, equity investments, loans and loan guarantees to foster innovation. The fund will provide the means to speed commercializable bioscience breakthroughs toward the market.
Connecticut-based nonprofit corporations, accredited colleges and universities, and for-profit startup or early-stage businesses working in bioscience, biomedical engineering, health information management, medical care, medical devices, medical diagnostics, pharmaceuticals, personalized medicine or other related disciplines are eligible to apply.
- are developing or testing a product or service that is not yet available for commercial release or is available only in a limited manner, including clinical trials or market testing of prototypes;
- fulfill Connecticut presence requirements.
Projects must be:
Applications must demonstrate a quantifiable commercial return on investment to the evergreen fund via loan, equity, royalty or other mechanism.
Priority will be given to applications showing strong collaboration across disciplines/industries and collaboration between academia and the for-profit sector. Applications that leverage CBIF investment dollars with external funds (e.g., NIH funding, founders investment, angels, strategic partners, other co-investors) are strongly preferred.
The CBIF application instructions for non-profit corporations and accredited colleges and universities can be found here.
The CBIF application instructions for for-profit startups and early stage businesses can be found here.
Frequently asked questions can be found here.
The fund’s resources dovetail with other technology startup resources in Connecticut, such as the CTech business incubators, the Connecticut Angel Investor Tax Credit (which stimulates private investments in early-stage companies) CI’s equity programs and private capital resources.
More information on the CBIF:
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For more helpful information, visit our resources section.