A thriving bioscience community. A perfect home for bioscience companies.

Connecticut has become a nucleus of bioscience advances—from groundbreaking research in personalized medicine to device manufacturing of the latest medical technology. Here are just a few of the reasons so many bioscience companies of all sizes are taking maximum advantage of the state’s dynamic intersection of intellectual capital and practical expertise.

Connecticut by the numbers

  • Ranks 2nd for academic R&D investments in bioscience
  • Ranks 3rd with adults with advanced degrees
  • Ranks 4th for bioscience patents per 1,000 people
  • Ranks as the nation’s 4th most innovative economy
  • Ranks 4th for venture capital R&D investments in bioscience
  • Ranks 5th for productivity per capita
  • Ranks 5th in the nation for quality of life
  • Ranks 6th in the number of scientists and engineers in the workforce

Innovative programs that support biotechnology companies of any size

Connecticut has clearly demonstrated its commitment to serving as a center for biomedical advances. Over the past decade alone, it has invested billions in supporting bioscience companies grow and succeed through a variety of programs and initiatives.

Connecticut Bioscience Innovation Fund (CBIF)

The Connecticut Bioscience Innovation Fund is a $200 million, 10-year fund established in 2013 that provides up to $500,000 to speed bioscience breakthroughs toward the market. Investments include grants, equity, and loans. The goal of the fund is to help commercialize bioscience breakthroughs.

R&D Tax Credits

To encourage R&D, Connecticut also offers two tax credits related to research and experimental expenditures conducted in Connecticut.

  • Non-incremental expenses tax credit. You may be eligible for this tax credit relating to research and experimental expenses incurred in Connecticut. A qualified small business may be entitled to a tax credit equal to 6% of its research and development expenses.
  • Incremental expenses tax credit. If you are increasing your investment in research and experimental expenditures conducted in Connecticut, you may qualify for the research and experimental expenditures incremental tax credit.

Angel Investment Tax Credit

This program provides a tax credit specifically for angel investors with a cash investment of $25,000 or more in a qualified Connecticut business. This credit will equal 25% of the investor’s cash investment — although the total tax credit cannot exceed $250,000 for any angel investor.

Manufacturing and Biotechnology Sales and Use Tax Exemption

A 100% sales tax exemption is available for:

  • Purchases of machinery used directly in the manufacturing production process, as well as materials, tools and fuel used in the manufacture or fabrication of finished products.
  • Sales of and the storage, use or other consumption of machinery, equipment, tools, materials, supplies and fuel in the biotechnology industry. A 50% tax exemption on machinery, tools, fuel and equipment may be available for those not meeting the requirements for the full exemption.

Bioscience Enterprise Zone

This zone is for eligible businesses that have had more than 300 employees at any time during the preceding 12 months and are engaged in bioscience, biotechnology, pharmaceutical or photonics research, development or production in the state.

Connecticut Bioscience Facilities Fund

This fund specializes in early stage investments in the biotechnology industry and provides financial solutions to biotechnology companies for the construction of wet laboratories and related space. Preference is given to businesses that are already located in Connecticut or are planning to move to the state. The fund typically invests between $0.5 million to $5 million.

SBIR Acceleration and Commercialization Program

The goal of the Small Business Innovation Research (SBIR) Acceleration and Commercialization program is to increase the participation of Connecticut-based firms in federal SBIR and STTR grant programs. These highly competitive federal programs improve your small business’s chance of advancing its technology and achieving commercialization, higher profits and job growth.

Technology Talent Bridge Internship

Connecticut’s Technology Talent Bridge Internship Program (TTB) is a grant opportunity for Connecticut small businesses to provide funding for the hire of student interns. The program’s primary objective is to develop a talent “bridge” between the small business and the student, with the downstream objective of creating jobs. The program enhances industry and university collaboration and helps strengthen our workforce and retain talent in our state.

The program is designed to:

  • Stimulate job creation through innovation
  • Provide stronger links between Connecticut companies and university students, reducing the likelihood that graduates will leave Connecticut, and
  • Facilitate post-graduation hiring of students by Connecticut companies.
I am BioCT

“Supporting BioCT and their mission has always been a source of pride for all of us at XVIVO Scientific Animation. Last year, we joined BioCT at the BIO International Convention, and, with their support, we developed several exciting partnerships. Through their advocacy, entrepreneurship, and educational outreach, BioCT helps to advance the healthcare sciences community in Connecticut!”

Michael Astrachan

Founder and President
XVIVO | Scientific Animation