Rocky Hill, Conn. (PRWEB) August 05, 2014
Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut's innovative, growing companies, today announced that the Connecticut Bioscience Innovation Fund (CBIF) has awarded nearly $2 million dollars of funding intended to speed commercializable bioscience breakthroughs toward the market.
“The projects that will receive funding demonstrated the potential to develop technologies that could be commercialized and could greatly enhance their respective industries,” said Jeremy Crisp, executive vice president and chief innovation officer at Connecticut Innovations. “We were extremely pleased with the high-caliber applicants and look forward to reviewing and evaluating the next round in coming weeks.”
The projects that received funding in the first wave, which vary in description and investment type and are subject to certain conditions, include:
Connecticut Innovations manages 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.
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.
For full criteria and guidelines, please visit http://www.ctinnovations.com/cbif. For additional questions regarding the application process, please contact: cbifinfo(at)ctinnovations(dot)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 http://www.ctinnovations.com.