Mission Statement
The industry voice for life sciences in our state
BioCT’s mission is to catalyze and accelerate growth in the life sciences with the goal of improving human health, by fostering a rich, innovative ecosystem and promoting Connecticut as a preferred destination for life sciences exploration and innovation.
Equity, Diversity & Inclusion Pledge
BioCT believes that all people should experience dignity and respect in their personal lives and in their workplace. As such, BioCT pledges to create and maintain a respectful workplace that values:
• Diversity and the human rights of others, and does not discriminate on the basis of race, national or ethnic origin, color, religion, age, sex, marital status, family status, any physical or mental disability, status as a special disabled veteran, veteran of the Vietnam era or other covered veteran, and sexual orientation or gender identity and expression
• The dignity of every person
• Mutual respect, fairness, and equality
• Courteous conduct and positive communication between people
• Collaborative working relationships
What BioCT does
Entrepreneurship
BioCT links together the pharmaceutical, life sciences, medical device, healthcare and emerging digital health community in the state. We support the growth of emerging companies and start-ups, as well as the recruitment of new companies and industry services, to continue to expand our ecosystem and the strength of our state economy.
Government Advocacy
Our Government Affairs Committee, comprised of BioCT board members, industry experts and business advisors, has deep expertise in those areas of critical importance to our members. The mission of the committee is to provide education and advocacy for the life sciences community to ensure synergy of action and alignment of state and federal initiatives.
BioCT has been instrumental in state budget allocations for research funding, successfully securing such investments in the face of fiercely competing priorities. In a fast-paced industry, we also have an important role keeping policy makers abreast of the latest developments and changing needs of the industry.
Advocacy wins at the state level include:
- A $100 million-10-year stem cell research program, the first of its kind
- 6% tax credit for continuing research and development
- 20% tax credit for new research and development
- 65-cents-on-the-dollar refundable R&D tax credit
- Biopharma sales and use tax exemption
- 20 year net operating loss carry-forward period
- Bioscience Innovation Act, a $200 million fund for start-ups and entrepreneurs
- $1.5 billion Next Generation Connecticut legislation for strengthening STEM education
Advocacy focuses on the continuing robustness of these agencies:
- Food and Drug Administration (FDA)
- National Institutes of Health (NIH)
- National Center for Advancing Translational Sciences (NCATS)
- Career Acceleration Network (CAN)
- US Patent Office (USPTO)
Education
We have a long history of community and educational outreach in partnership with the state’s top-tier academic and research institutions. Additionally, we work with our members and serial entrepreneurs to showcase the unique and diverse expertise to be found in the life sciences community. Through a variety of program formats and events, we provide opportunities to network, share skills, build relationships and learn from peers and mentors.
We actively support the state’s STEM education initiatives and regularly welcome young scientists and students to participate in programming and science fairs at our incubator, Innovation Commons, in Groton.
Mentoring
On an informal or formal basis, there are a myriad of mentoring opportunities available to our members. Connecticut’s strong, experienced talent pool and serial entrepreneurs are an invaluable resource to the community, working alongside our state partners to seed success and support innovation. As a connector, we are able to bring together our members with suitable mentors.
The BioCT Board of Directors as well as the Advisory Committee at our incubator, Innovation Commons, are also active mentors and strategic advisors to entrepreneurs and member companies.
Members at-a-glance
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.
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BioCT is the state affiliate to the Biotechnology Innovation Organization (BIO) providing Connecticut with industry recognition at the national level.
To learn more, contact Kelley Gipson.
BioCT is a 501(c)3 not-for-profit organization. Donations may be tax deductible.