Five Questions With: Christine Smith

Christine Smith is the executive director of the Rhode Island Science & Technology Advisory Council. / PBN FILE PHOTO/JAIME LOWE
Christine Smith is the executive director of the Rhode Island Science & Technology Advisory Council. / PBN FILE PHOTO/JAIME LOWE

Christine Smith is the executive director of the Rhode Island Science & Technology Advisory Council. Smith talks with Providence Business News about STAC’s mission to create economic opportunity and jobs in Rhode Island.

PBN: How long have you been executive director of STAC, and can you explain its mission?
SMITH:
I joined the Commerce Corporation about 10 years ago to launch STAC as a key innovation initiative. From the beginning, STAC has been dedicated to creating economic opportunity and job growth by making Rhode Island a world-class center for Research & Development built on our unique strengths in science, engineering and design. In the early years we focused on expanding research capacity. Under Governor Raimondo’s leadership, we have launched several major initiatives in conjunction with Rhode Island Commerce Corporation to encourage innovation, collaboration and investment. For example, this year we were able to provide $500,000 to small Rhode Island companies that were developing new products like advanced radar for our military, therapies to fight sepsis and epilepsy and “stitchless seams” that made heavy military uniforms lighter for our warriors.

PBN: Can you tell me about the Innovate RI Fund?
SMITH:
The fund was created to help more Rhode Island small businesses get needed access to capital in the early stages of R&D. The fund provides grants of up to $3,000 to help small businesses offset the costs associated with preparing a competitive Phase I SBIR/STTR application (the SBIR/STTR program is a federal program that functions as the federal government’s seed fund and represents the largest source of early-stage technology financing in the United States. Eleven federal agencies participate and provide grants to explore the technical merit of an idea or technology in response to a specific agency’s need.) The RI Innovate Fund also provides matching grants of up to $45,000 to further support recipients of SBIR/STTR Phase I awards. This year, Governor Raimondo doubled the Innovate RI Fund so that we could provide matching grants of up to $100,000 for recipients of Phase II awards. Access to capital at the early stages for R&D is an essential investment so that these small businesses can retain the talent and facilities they need to grow.

PBN: How would you characterize biotech/innovation/entrepreneurship in Rhode Island?
SMITH:
I am constantly amazed by the type of work underway in the state, from researchers developing vaccines and therapies to fight disease to companies designing smart uniforms for our military. According to the Brookings Report, we have some of the best researchers and innovators in the world in areas such as neuroscience-related therapeutics and medical devices. The energy in the sector is palpable. If you go to the incubators or co-working spaces, visit small businesses developing new products and services, talk with researchers at our world-class academic institutions and hospitals, or attend a Pitch event or Demo Day, you will get a feel for the energy of the students, faculty and entrepreneurs who are growing their businesses and pioneering new technology here in Rhode Island. For more detailed information, the Brookings report, Rhode Island Innovates, discusses the specific levels of growth and opportunity for Rhode Island in different key areas. Our state has not experienced the growth in the biotech or innovation sector as much as other states, yet, with the governor’s focus on building advanced industries, we are increasingly well-positioned to draw talent and investment here.

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PBN: How many grants does STAC typically award each year?
SMITH:
STAC distributes just under $2 million in grants each year through two programs: Collaborative Research Grants, which are seed grants to projects that have great potential for follow-on funding and the Innovate RI Fund. We are still accepting applications for our Innovate RI Fund programs and plan to have a second application period for Collaborative Research grants later this year.

PBN: And what areas typically do you fund?
SMITH:
All of our grants support projects in areas of science and technology that are areas of expertise for us and where our researchers have the potential to conduct world-class R&D. The recent “Rhode Island Innovates” report released by the Brookings Institution identified five advanced industry and two opportunity industry growth areas that will be our focus. These areas are: biomedical innovation; information technology/software, cyber-physical systems and data analytics; defense shipbuilding and maritime; advanced business services; design, food and custom manufacturing; transportation, distribution and logistics; and arts, education, hospitality and tourism. We also support research areas associated with our National Science Foundation EPSCoR grant that addresses the impact of global climate change and environmental stressors on our watersheds, coastal and marine environments.

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