Providence suspends Innovation Investment Program

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THE CITY OF PROVIDENCE has suspended its Innovation Investment Program, which provides $50,000 in loans to startup companies that promise to stay in Providence for at least a year. / PBN FILE PHOTO
THE CITY OF PROVIDENCE has suspended its Innovation Investment Program, which provides $50,000 in loans to startup companies that promise to stay in Providence for at least a year. / PBN FILE PHOTO
(Updated, 4:05 p.m.) PROVIDENCE – The city has suspended a program providing $50,000 loans to startup companies that promise to stay in Providence for at least a year. The federally-funded, city-administered Innovation Investment Program launched in November 2011 and was open to startups being backed by the Betaspring startup accelerator, Slater Technology Fund or Cherrystone…

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