Governor Dannel P. Malloy today signed new legislation creating a $200 million Bioscience Innovation Fund during a ceremonial event at the University of Connecticut Health Center (UCHC). The fund will make investments over the next 10 years in the form of grants, equity investments, loans and loan guarantees to foster innovation in smaller companies.
“Over the last two and a half years, we’ve taken great steps forward in reinventing our economy,” said Governor Malloy. “With the addition of Jackson Laboratories and the investments we are making in our flagship university, we are positioning Connecticut to be a leader in the creation of 21st Century jobs. The Bioscience Innovation Fund will allow us to build on the tremendous progress that’s being made across our state. Little by little, we are turning around years of stagnation and growing jobs for our residents.”