New accelerator program would support designer-entrepreneurs
THE RHODE ISLAND School of Design, the Founders League, DesignxRI and Rally Rhode Island are among the groups involved in the city's planned launch of "Providence Design Forward," a new accelerator program for design-oriented entrepreneurs. Details of the proposed program has yet to be finalized and must be approved by the Providence Economic Development Partnership.
PROVIDENCE – The city is teaming with the Rhode Island School of Design and local business groups to launch a new accelerator program for design-centered entrepreneurs.
Tentatively titled Providence Design Forward, the new program will employ U.S. Department of Housing and Urban Development funding and the expertise from Founders League, Rally Rhode Island and DesignxRI.
Exact details of the program have yet to be finalized and it will need to be approved by the Providence Economic Development Partnership, which controls the city’s allocation of federal Community Development Block Grant money.
Lynne McCormack, director of the city’s Department of Art, Culture and Tourism, briefed the PEDP board last week on the accelerator and is slated to give a full presentation at the agency’s March meeting, at which point it could be approved.
McCormack said the new accelerator is modeled roughly on the MassChallenge accelerator in Boston.
Details yet to be worked out include whether accelerator graduates will receive loans or grants. An early cost estimate of the entire program is $250,000.