Connecticut Bioscience Innovation Fund (CBIF)
Connecticut Innovations
Stage-based (grants, convertible loans, equity)
Connecticut's bioscience commercialization fund
The Connecticut Bioscience Innovation Fund (CBIF) is a $200 million fund managed by Connecticut Innovations to speed commercializable bioscience and healthcare innovations to market and grow health-related companies in Connecticut. CBIF backs early-stage, for-profit companies through grants, secured convertible loans, and equity investments depending on stage. Startups and early-stage businesses may apply for secured convertible loans or equity; accredited Connecticut universities/nonprofits may apply for royalty-bearing grants up to $500,000 (a separate academic track). The company is the direct recipient. Since 2013 the fund has invested roughly $125 million across 100+ bioscience companies. The process is rolling — companies apply via an online pitch submission.
- Funding type
- Program
- Level
- State
- Amount range
- Stage-based (grants, convertible loans, equity)
- Realistic amount
- Investment size is stage- and deal-dependent; CBIF has deployed roughly $125M across 100+ co…
- Deadline
- Quarterly evaluation. Connecticut Innovations evaluates CBIF applications on a quarterly basis; companies submit a pitch deck / business plan via the CI online form for review in the next quarterly cycle.
- Status
- active
- States
- Connecticut
- Payment model
- milestone
Who qualifies
- For-profit company developing a bioscience/healthcare technology
- Majority Connecticut presence, or willingness to relocate to Connecticut
- Non-recurring revenue from non-grant sources of less than $2 million (for pre-seed funding)
- Not an affiliate, subsidiary, or entity controlled by a larger company (for pre-seed funding)
- Commercializable bioscience innovation with a credible path to market
Hard requirements
- Must be an incorporated business
What it covers
Eligible expenses
- Bioscience product development and commercialization
- Personnel and operating costs to advance the technology
- Clinical/regulatory and validation work
- Activities growing the company's Connecticut operations
Ineligible expenses
- Activities inconsistent with the CT presence requirement
- Uses outside the agreed investment scope
How to apply
-
1
Confirm eligibility and stage fit
Verify CT presence (or relocation intent), the under-$2M non-grant revenue threshold for pre-seed, and that you are not controlled by a larger company. Identify which instrument (grant, convertible loan, equity) fits your stage.
~4 hrs
-
2
Prepare and submit pitch materials
Prepare a pitch deck covering the technology, market, team, financials, and ask. Submit via the Connecticut Innovations online form (directed to the CBIF/Connecticut Innovations team).
~16 hrs
-
3
Screening and diligence
Connecticut Innovations screens the submission and, for promising companies, conducts diligence and structures terms (grant/convertible/equity).
~12 hrs
-
4
Term negotiation and close
Negotiate investment terms and close; convertible/equity instruments carry standard investment terms.
~16 hrs
CBIF is a state investment vehicle, not a pure grant — for early companies the realistic instrument is a secured convertible loan or equity, so come in with a fundable pitch deck and a CT footprint story, not a grant application mindset. Relocating to Connecticut is explicitly on the table and can strengthen a borderline application.
Deadline & timing
CBIF intake is open (submit a pitch deck/business plan anytime via the Connecticut Innovations form), but applications are formally EVALUATED QUARTERLY by CI staff — not on a no-cycle rolling basis. Meeting the stated requirements does not guarantee funding.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.