Rhode Island Science and Technology Advisory Council (STAC)

Making Innovation Central to Rhode Island's Future Gina M. Raimondo, Governor

New Loan Program to Help Emerging Technology Firms Access Capital

Published on April 29, 2010

The Rhode Island Economic Development Corporation (EDC) may soon have a new tool to boost access to capital for Rhode Island companies in the fast growing sectors such as biomed, digital media, and environmental sciences.

If passed, the new Job Guarantee Program would provide the EDC with a pool of $125 million in loan guarantees to help induce private sector investment in technology firms which often struggle to gain access to capital due to their non-traditional balance sheets.

According to Keith Stokes, RIEDC Executive Director, "This can really be the growth catalyst we need to induce private sector investment in what we are seeing as high potential sectors."

The new program would complement existing seed funding programs currently offered by the RI Science and Technology Advisory Council and the Slater Technology Fund. 

Click here to read more about the proposed program

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RI Science & Technology Council
315 Iron Horse Way, Suite 101
Providence, RI 02908

Phone: (401) 278-9100
Fax: (401) 273-8270

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