PROVIDENCE – The R.I. Commerce Corp. issued an invitation for interested partners to begin sharing ideas for an Innovation Campus in advance of an upcoming request for proposal, in a press release on Wednesday.
The RFP, which it will release later this year, will ask industry and academia to join to create a concept for a “transformative idea,” which can be executed as a commercial business fueled by Rhode Island-based academic research, and submit the idea for competition.
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Official initial concepts must be presented to Commerce RI by Sept. 15.
“We’re looking forward to helping potential applicants understand our state’s remarkable assets and, ultimately, to increasing the amount of university and medical-center research that gets translated into new economic activity and jobs for Rhode Islanders,” said Stefan Pryor, Rhode Island’s secretary of commerce, in a statement.
Commerce RI has paired with the University of Rhode Island for the competition and will allocate funds from the $20 million bond issuance approved by voters in 2016 specifically to create the innovation campus.
David M. Dooley, president of the University of Rhode Island, said in the press release that “the university is well positioned to collaborate with private industry to innovate and produce cutting-edge products and technology within an innovation campus.”
The competition will result in one or more applicants receiving funding, though developmental partners will be required to meet or exceed funding from the state’s investment from the 2016 bonds. URI is eligible to participate in the competition, but the competition is open to all in-state institutions.
Respondents will be offered access to Workshops, which will be offered to assist with technical development and guide concept development. More information on the competition exists at Commerce RI’s website.
Chris Bergenheim is the PBN web editor.
