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Innovate Rhode Island Small Business Fund Awards Grants to Small Business

Rhode Island Science & Technology Advisory Council
Seven small businesses in the state of Rhode Island recently received grants of approximately $45,000 each through the Innovate Rhode Island Small Business Fund. The matching grants were awarded by Rhode Island's Economic Development Corporation's Science and Technology Advisory Council (STAC).

This is the first year for the new grant program. Grants are offered to small businesses in the areas of medical, technology and defense industries. Supporting the work of small business not only increases businesses in the life sciences, technology and engineering fields but also improves the economy in Rhode Island with more job creation.

Small businesses are not only receiving grant support from the state but also working towards additional funding from the federal government. By supporting their efforts at the state level, Rhode Island is also attracting more federal research money into the state.

STAC was formed in 2005 to generate programs that increase technology and innovation in the state of Rhode Island. One important goal of the council is to find ways in which to encourage and support entrepreneurship and the creation of new companies focused on technology, science and engineering.

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