Enabling Innovation

STAC seeks to promote innovation across Rhode Island’s public and private sectors.

Today’s changing economy is based more on ideas than on bricks and mortar. Locally, nationally and globally we have seen a shift from a reliance on machinery and equipment to “knowledge workers” who generate ideas and information. Rhode Island’s economy has also changed. Like the rest of the nation, Rhode Island must now compete in a global economy where innovation and knowledge are the primary drivers of economic growth.

STAC works to make innovation a leadership priority in Rhode Island. With its annual recommendations and strategic programming, STAC’s mission is to recommend and implement activities that Rhode Island can take to strengthen its innovation infrastructure and enable more organizations to compete globally.

Current activities in support of this effort include:

Annual Recommendations

Each year. STAC releases a set of actionable recommendations for steps Rhode Island can take to support innovation. These recommendations are released in STAC’ s annual report issued in January. more...

URI Commission for Research & Innovation

In 2006, STAC called for the creation of a blue ribbon commission to propose specific actions to strengthen the University of Rhode Island's position as a nationally competitive public research university and as a key institution in the state's efforts to build an innovation economy. In response to this recommendation, the Rhode Island General Assembly passed, and Governor Donald Carcieri signed into law, legislation creating a commission to recommend specific actions to strengthen the URI's research capacity. The commission makes recommendations for how the university can:

Grow the size, significance and competitiveness of its R&D programs;
Produce a larger, better trained and more science and technology oriented workforce; and
Increase the levels of both industry involvement in its research programs and technology transfer/commercialization activities.

Learn more about the URI Commission for Research & Innovation:

Innovation Tax Credit

The Innovation Tax Credit, proposed by STAC in 2006 and launched in 2007, is designed to attract and retain serial entrepreneurs and stimulate economic growth in high-wage, high-growth industries. In addition to being tested against a set of base eligibility requirements, applications for the credit are evaluated on how well the project supports a culture of entrepreneurship and how important the business's plan is to advancing an innovation economy. The Innovation Tax credit is managed by the Rhode Island Economic Development Corporation and more information can be found on the RIEDC website.