State grant to leverage biomedical innovation at Connecticut universities
The Yale Center for Biomedical and Interventional Technology (CBIT) will lead a new $1 million seed grant program over two years from the Connecticut BioScience Innovation Fund to support commercialization of new biomedical ideas from Connecticut universities.
Connecticut Innovations announced the grant on June 30.
A committee of experts from Yale, University of Connecticut, and Quinnipiac University will evaluate applications from students, faculty, and start-ups associated with Connecticut universities and award up to $30,000 seed funding to those with the most promising startup ideas.
“This critical gap funding will advance the best biomedical ideas across the state to the stage where they can thrive within companies ,” said Chris Loose, executive director of CBIT and the principal investigator for the grant.
The grants will help those wishing to develop biomedical devices, diagnostic technology, health information technology, or digital health services.
“This is the first project of its type we are supporting through the Connecticut Bioscience Innovation Fund,” said Margaret Cartiera, vice president and fund manager of BioInnovation Connecticut at Connecticut Innovations. “The committee was in favor of this unique project not only because it provides the needed gap funding to seedling companies and groups, but it also leverages the entrepreneurial resources that exist within the different university systems.”
Formed in 2014, CBIT aims to integrate clinicians, businesspeople, and engineers across Yale to support biomedical innovation and commercialization. Additionally, CBIT offers educational programs, resources, technical expertise, and access to companies and organizations outside the university to catalyze medical advancements.