Connecticut Bioscience Innovation Fund (CBIF)
Connecticut Innovations
Stage-based (grants, convertible loans, equity)
Researched for this program: 4 rejection traps · 5 required documentsWhat decides this award ↓
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+ companies since 2013 (averaging on the order of $1M+ per company across its history, though individual early-stage checks vary widely).
- 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.
Get one email if this program changes
GrantCompass tracks Connecticut Bioscience Innovation Fund (CBIF) in the live catalog. Leave an email and we’ll tell you if it sets a deadline, changes its terms or closes.
Free. One email when the window moves, deadline warnings on your watchlist, and the monthly closing-soon digest. Unsubscribe anytime.
Programs that stack well
Related programs
This program is not taking applications today — these are
Alternatives computed from the live GrantCompass catalog on November 1, 2026 — all 170 open grant programs · filter the database.
Explore more funding
Last updated October 16, 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.