Rhode Island Science and Technology Advisory Council (STAC)

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

$110K in Funding Available for Short Term Projects to Bolster RI Economy

Published on March 22, 2011

The Innovation Providence Implementation Council (IPIC), under the umbrella of the Greater Providence Chamber Foundation and the Greater Providence Chamber of Commerce, has announced the availability of $110,000 in grant funding for programs aimed at bolstering the local knowledge economy. This third round of grant funding, which will be released through an RFP process, has come through $70,000 from the Providence Economic Development Partnership, $25,000 from the Rhode Island Foundation and $15,000 from the Greater Providence Chamber of Commerce.

Local innovators and institutions working to strengthen Rhode Island's Knowledge Economy in the key areas of healthcare, technology, research & design, alternative energy entrepreneurship and workforce development, particularly those focused on moving the IPIC's Action Agenda forward are encouraged to apply for the grant funding. Awards are expected to be made in early summer of 2011.

The Request for Proposal (RFP) can be downloaded at www.providencechamber.com. Interested firms are requested to notify Janet Raymond of their interest in responding to the RFP at jraymond@provchamber.com no later than Friday, April 1, 2011. Proposals must be submitted by Friday, April 15, 2011.

"Now, more than ever, we need to collaborate across the public and private sectors to focus our resources on spurring economic growth," said Providence Mayor Angel Taveras. "The Innovation Providence Implementation Council is an exemplary collaboration that creates an important channel for the City to identify and nurture promising new ventures that have the potential to create good, high-quality jobs for the people of Providence. I am pleased that the program is continuing and proud of the work done by the organizations that have received IPIC support. Technology and innovation will drive our economy and it falls to us to do what we can to enable more Providence-based businesses to thrive in the 21st century knowledge economy."

"We are truly excited to have the opportunity to offer a third round of grant funding to expand Rhode Island's Knowledge Economy," said Connie Howes, president and CEO of Women & Infants Hospital and chair of the IPIC. "Through the efforts of the IPIC and our community partners, Rhode Island and Providence are becoming a hub of economic development and entrepreneurial activity. It is so important for us to continue to invest in the people and ideas that are driving change and innovation."

This third round of Knowledge Economy grant funding is expected to be concentrated primarily on short term projects which are likely to begin within the next 6 months. Project funding will range from $10,000 to $25,000. Eligible applicants include higher education, hospitals, industry trade associations, for profit private sector businesses and non-profit organizations. Previous grant recipients are also encouraged to apply for additional project support.

"Early seed funding can make all the difference in moving an innovative idea from concept to development to jobs. The Foundation is pleased to provide this grant to the IPIC. We must be opportunistic and capitalize on ideas that demonstrate collaboration and momentum and hold the promise of strengthening Rhode Island's economy," said Neil D. Steinberg, president and CEO of the Rhode Island Foundation.

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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

RI Innovation Initiatives