Growing a vibrant bioscience ecosystem in Connecticut.

BioCT supports the needs and serves as the unified voice of the life sciences community in our state.

Background

Advocating for programs and policies that grow the industry and support patients.

As the bioscience voice in Connecticut and Washington, BioCT advocates to ensure synergy of action and alignment of policy at the state and federal levels.

Mission Statement

We’re the bioscience industry voice for our state.

We are dedicated to growing the vibrant bioscience ecosystem in Connecticut by supporting innovation, collaboration, networking, education, talent engagement and advocacy.  We bring together companies, institutions, entrepreneurs, investors, government, service providers, and other passionate, dedicated people, to create a thriving community to improve patients’ lives and public health.

 

What BioCT does

Entrepreneurship

BioCT links the life and healthcare sciences community in Connecticut to help identify and retain talent and to exploit new technology and innovation. We facilitate the build of a diverse understory of new companies to contribute to the economic strength of Connecticut and improve our quality of life.

While it is critical that the BioCT cluster is supported by very large companies and institutions, such as BioCT’s Legacy Partners — Boehringer Ingelheim, Pfizer, Yale and the University of Connecticut — we also seek to include all new start-up companies in our cluster and to add more. We spend time encouraging and mentoring, solving problems, finding funding and linking together our entrepreneurs and our population of small companies. BioCT seeks to construct a vibrant bioscience community, hoping to ensure a wealth of bioscience jobs, places to capture innovative ideas, interested investors and expertise.

BioCT’s activities relating to entrepreneurship include: BioHaven, BioScience ClubhouseCT, one-on-one mentoring, SECT Tech, the CURE Innovation Commons and most important, CONNECTING.

Government Advocacy

As the depth and breadth of BioCT’s mission expands, our work at the state capitol and in Washington, D.C. continues unabated. Government policy and advocacy is a critical component of our community outreach. We have convened a government affairs committee comprising BioCT board members and business and advisory delegates, including the government relations firm of Rome, Smith & Lutz, which has expertise in matters impacting our sector, to inform our policy and advocacy strategies.

The mission of the committee is to provide education and advocacy for Connecticut’s bioscience and life science communities at the government policy level, and to ensure synergy of action and alignment of state and federal initiatives. The committee will inform public policy decision-making that has a significant impact on our membership.

We strive to work proactively to articulate the development of Connecticut’s bioscience sector and will continue to monitor and weigh in, where necessary, on bills related to research and development and laboratory practices that have impact on our membership and life sciences research. More >

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Education

BioCT is a community characterized by ongoing design and adaptation. We co-create value through the power of our interconnections. The result is a vibrant ecosystem for the Connecticut life and healthcare science base which can grow by attracting talent and creating new jobs. As entrepreneurs align with expertise, technology and business resources, educational programming helps develop our industry savvy with sophisticated horsepower. Students, faculty and post-docs, new employees, employers, investors and start-up businesses all benefit from the work BioCT members undertake to share skills, cultivate mastery and engage in mentorship.

BioCT has a long history of community educational outreach. We actively supported the $1.5 M investment Connecticut has made in STEM education and also in the pioneering new area, stem cell research. The early BioBus program, the StemCONN conference, BIOHAVEN events and now the BIOSCIENCE CLUBHOUSECT initiative all deliver educational activities that encourages the growth of the Connecticut bioscience cluster.

As we continue to develop BIOSCIENCE CLUBHOUSECT and we see the CURE INNOVATIONS COMMONSopen, we expect to extend this track record and build new educational events and begin to include internships for students interested in the many types of professions associated with life and healthcare sciences.

Mentoring

BioCT is a community characterized by ongoing design and adaptation. We co-create value through the power of our interconnections. The result is a vibrant ecosystem for the Connecticut life and healthcare science base which can grow by attracting talent and creating new jobs.

We seek to include all new start-up companies in our cluster and to add more. We spend time encouraging and mentoring, solving problems, finding funding and linking together our entrepreneurs and our population of small and large companies.

Together we are constructing a dynamic bioscience community, hoping to ensure a wealth of bioscience jobs, places to capture innovative ideas, interested investors and expertise.

The BioCT network and Board of Directors brings industry expertise, advice, and support to the Connecticut bioscience community. The team looks forward to serving as strategic mentors and advisors to the entrepreneurs and companies which comprise the BioCT community.

How can we be of assistance? How can you be of assistance? Please connect with us.

Our members

Formed in the 1980s to focus a spotlight on life sciences

BioCT’s Story

BioCT links the life and healthcare sciences community to help grow and retain talent, deliver resources and entrepreneurial support, and showcase scientific innovation.

We bring together companies, institutions, entrepreneurs, investors, government, service providers, and other passionate people to create a thriving community to improve patient’s lives and public health.

First Generation Biotechs

Creation of three critical research and development (R&D) tax credits/incentives

Connecticut now has three important R&D tax credits: (1) a 20% credit for “new” R&D (R&D transferred into Connecticut from out-of-state as well as any additional increment of R&D conducted in Connecticut over that which was conducted in Connecticut in the prior year); (2) a six percent tax credit on existing/ongoing R&D expenditures; and (3) for smaller technology companies, the ability to “trade-in” earned R&D tax credits ((1) and (2)) for a cash payment from the state equal to 65% of their value.

Together these credits make Connecticut competitive with other states.  In recent years, BioCT has worked successfully in difficult budget years to keep technology-favorable R&D policy in tact to sustain the state’s commitment to nurturing/growing the technology sector.

Seeding Start-ups

Creation of the sales and use tax exemption for biotechnology equipment

The exemption from Connecticut’s 6.35% sales tax is particularly important to biopharma companies given the extremely high cost of the equipment used in life sciences-related research.  It has been cited as the most valuable policy the state has enacted in terms of “bottom line” impact.

Advocating Policy Change

Increasing the net operating loss (NOL) period from five to 20 years

Typically, it takes 10-15 years to bring a new medicine or medical device from concept to market. Therefore, it is critical that biopharma companies have the ability to carry hard-earned operating losses forward until profitability. BioCT’s successful advocacy for raising the NOL carry forward period which helped put position Connecticut top tier of states with respect to this critical technology incentive.

Purpose and Place

Stem cell research: creating a Connecticut ‘safe haven’ and $100 million research fund

Connecticut’s $100 million-10-year stem cell research program was the first of its kind to be implemented (ahead of California’s stem cell initiative).  It allowed stem cell research, including embryonic stem cell research, to proceed at a time when the Bush administration put draconian restrictions on federal support for this highly valuable research.

The state’s stem cell research program put Connecticut “on the map” with the international, biomedical research community.  The quality and quantity of Connecticut stem cell research can be measured in the substantial body of academic citations.  It is not an overstatement to note that these discoveries have been a powerful force accelerating the advance of stem cell research around the world.  The recruitment of The Jackson Laboratory and its personalized medicine expertise, was in no small way facilitated by center of excellence preexisting here in the field of stem cell research.

Building Community

Support for investment in early stage companies through Connecticut Innovations

Apart from the quality and quantity of the basic research of a state’s research universities, the greatest determinant of entrepreneurism is access to early stage capital.  BioCT has long been supportive of Connecticut Innovations (“CI”), the state’s quasi-public venture capital firm.  Nearly all of BioCT’s core biotech companies have been aided by CI – through early investments that made their transition from academic lab to for-profit company possible, follow-on investment to help them advance, or low cost financing for laboratory construction. BioCT also helped make the case for the enactment of the $200M Bioscience Innovation Fund.  This fund provides additional resources for companies at every stage of development and provides additional resources to recruit companies to the state.

Marriage of Place and Purpose

BioCT links the life and healthcare sciences community in Connecticut to help identify and retain talent and to exploit new technology and innovation.

While it is critical that the BioCT cluster is supported by very large companies and institutions, such as BioCT’s Legacy Partners—Boehringer Ingelheim, Pfizer, Yale and the University of Connecticut—we also seek to include all new start-up companies in our cluster and to add more. We spend time encouraging and mentoring, solving problems, finding funding and linking together our entrepreneurs and our population of small companies. BioCT seeks to construct a vibrant bioscience community, hoping to ensure a wealth of bioscience jobs, places to capture innovative ideas, interested investors and expertise.

BioCT’s activities relating to entrepreneurship include: BioHaven, BioScience ClubhouseCT, one-on-one mentoring, SECT Tech, the CURE Innovation Commons and most important, connecting.

Building a Community

BioCT links the life and healthcare sciences community in Connecticut to help identify and retain talent and to exploit new technology and innovation. We facilitate the build of a diverse understory of new companies to contribute to the economic strength of Connecticut and improve our quality of life.

While it is critical that the BioCT cluster is supported by very large companies and institutions, such as BioCT’s Legacy Partners—Boehringer Ingelheim, Pfizer, Yale and the University of Connecticut—we also seek to include all new start-up companies in our cluster and to add more. We spend time encouraging and mentoring, solving problems, finding funding and linking together our entrepreneurs and our population of small companies. BioCT seeks to construct a vibrant bioscience community, hoping to ensure a wealth of bioscience jobs, places to capture innovative ideas, interested investors and expertise.

BioCT’s activities relating to entrepreneurship include: BioHaven, BioScience ClubhouseCT, one-on-one mentoring, SECT Tech, the CURE Innovation Commons and most important, connecting.

Recent Policies & Programs

BioCT links the life and healthcare sciences community in Connecticut to help identify and retain talent and to exploit new technology and innovation. We facilitate the build of a diverse understory of new companies to contribute to the economic strength of Connecticut and improve our quality of life.

While it is critical that the BioCT cluster is supported by very large companies and institutions, such as BioCT’s Legacy Partners—Boehringer Ingelheim, Pfizer, Yale and the University of Connecticut—we also seek to include all new start-up companies in our cluster and to add more. We spend time encouraging and mentoring, solving problems, finding funding and linking together our entrepreneurs and our population of small companies. BioCT seeks to construct a vibrant bioscience community, hoping to ensure a wealth of bioscience jobs, places to capture innovative ideas, interested investors and expertise.

BioCT’s activities relating to entrepreneurship include: BioHaven, BioScience ClubhouseCT, one-on-one mentoring, SECT Tech, the CURE Innovation Commons and most important, connecting.

Connecticut’s Committment

BioCT links the life and healthcare sciences community in Connecticut to help identify and retain talent and to exploit new technology and innovation. We facilitate the build of a diverse understory of new companies to contribute to the economic strength of Connecticut and improve our quality of life.

While it is critical that the BioCT cluster is supported by very large companies and institutions, such as BioCT’s Legacy Partners—Boehringer Ingelheim, Pfizer, Yale and the University of Connecticut—we also seek to include all new start-up companies in our cluster and to add more. We spend time encouraging and mentoring, solving problems, finding funding and linking together our entrepreneurs and our population of small companies. BioCT seeks to construct a vibrant bioscience community, hoping to ensure a wealth of bioscience jobs, places to capture innovative ideas, interested investors and expertise.

BioCT’s activities relating to entrepreneurship include: BioHaven, BioScience ClubhouseCT, one-on-one mentoring, SECT Tech, the CURE Innovation Commons and most important, connecting.

BioCT legacy partners

Our co-founders remain significant partners today. Their foresight encouraged us in the beginning. Their tenacity helped us grow as a community. Thank you to Boehringer Ingelheim, Pfizer, University of Connecticut and Yale University.

Apply for membership

Individuals  Organizations & Companies

BioCT is the state affiliate to the Biotechnology Innovation Organization (BIO), providing Connecticut with industry recognition at the national level as well as member-only, proprietary access to a variety of exclusive lab and office discount programs via the Bio Business Solutions.

To learn more, contact Kelley Gipson.

BioCT is a 501(c)3 not-for-profit organization. Donations may be tax deductible.