Deadline approaching for Innovation Campus submissions

PROVIDENCE – The deadline is approaching for submissions to the state of Rhode Island for the development of a state-supported Innovation Campus.

Voters in 2016 authorized $20 million in public bonds to fund the development of a collaborative innovation campus, or campuses, which would facilitate innovation and commercialization of university research. The collaboration is expected to include the University of Rhode Island but does not have to be located on its campus.

The private investment is expected to exceed the state’s financial commitment, which can be between $1 million and $20 million, according to the Request for Proposals, issued in December.

The deadline for submission of applications is March 2.

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The bond proceeds can be used to purchase land or other real estate, cover the costs of demolition, construction or renovation, as well as furnishings, equipment and labor.

In addition to a partnership with URI, respondents must include one business in the collaboration and create a “substantial number of jobs” as a result of the endeavor.

The research the state is targeting includes the following industries: ocean sciences; maritime and defense; information technology; internet of things; cyber and data analytics; advanced manufacturing; technologies aimed at the aging population; food technologies; biotechnology; neuroscience; financial technology; and renewable energy.

More information is available on the R.I. Commerce Corp. website.

Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.