Month: July 2015

Connecticut Bioscience Innovation Fund Expands Definition of Early Stage to Increase Investment Opportunities

Connecticut Innovations-managed fund now allows companies that are up to seven years old to apply for funding

 ROCKY HILL, Conn., July 17, 2015 – BioInnovation Connecticut, managed by Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced a change in legislation that allows companies up to seven years old to submit applications to the Connecticut Bioscience Innovation Fund (CBIF) for funding consideration.

CBIF seeks to drive innovation in the biosciences throughout Connecticut by providing focused financial assistance to startups, early-stage businesses, nonprofit organizations and accredited colleges and universities. Governor Dannel P. Malloy signed the updated legislation broadening the scope of companies eligible to apply on July 1, 2015. The language previously stated that to be eligible, companies could be no more than three years old.

“We know that the lifecycle of a bioscience company can be a long one,” said Margaret Cartiera, vice president and fund manager of BioInnovation Connecticut at CI. “Technology and team development in the early stages can sometimes move slowly, and clinical trials and regulatory requirements can lengthen the go-to-market process for many bioscience companies. We want to make sure we offer funding to companies to continue their work when they need it most. This decision, supported by our advisory committee and Governor Malloy, will allow us to help companies at a critical time in their progress and provide the fund with additional investment opportunities.”

Connecticut-based for-profit startup or early-stage businesses (to which this change directly applies), non-profit corporations, and accredited colleges and universities 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. All company applicants seeking CBIF funding must be registered in Connecticut through the Secretary of State’s office.

For more information on qualifications, requirements, guidelines and applications for the BioInnovation Connecticut funds, visit www.bioinnovationct.com. For general questions related to the funds, please write: info@bioinnovationct.com.

About Connecticut Innovations Inc.
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize the growth potential of each business, CI tailors its solutions and often combines its funds with resources from other financial leaders to provide venture capital and strategic support for early-stage technology companies; flexible loans for established companies with new innovations; grants that support innovation and collaboration; and connections to its well-established network of partners and professionals. Through all these initiatives, CI has helped bring $4 billion in financing to Connecticut companies. The state’s most active early-stage investor, CI has created more than 26,000 jobs. For more information on CI, please visit www.ctinnovations.com.

About BioInnovation Connecticut
Managed by Connecticut Innovations, BioInnovation Connecticut helps innovators speed bioscience discoveries toward commercialization, which is made possible through two key funds: The Connecticut Bioscience Innovation Fund (CBIF) and the Regenerative Medicine Research Fund. For more information on BioInnovation Connecticut, please visit www.bioinnovationct.com. 

2015 Innovation Summit Call for Applications

As a collaborating organization and friend of the Connecticut Technology Council we hope you will help us promote the 2015 Innovation Summit call for applications.

This year, the Innovation Summit will be hosted by the Connecticut Convention Center. We are expecting over 400 attendees and hope to attract 120+ companies to showcase as Tech Companies To Watch.

Attached you will find resources to help you quickly, and effectively, promote the call for applications. Below are links to both the Innovation Summit webpage as well as the registration page.

Registration Link: https://cttech.wufoo.com/forms/2015-innovation-summit-company-application/
Innovation Summit Web Page: http://www.ct.org/signature-event/connecticut-innovation-summit/