PROVIDENCE – The Design Catalyst program will be relaunched this year, Mayor Jorge O. Elorza announced Monday.
The program will provide qualifying businesses with $90,000 in grant funding capital in amounts up to $15,000, business mentorship and professional-development training. Design Catalyst is run by DesignxRI, the Providence-based economic-development nonprofit for the Rhode Island design sector.
The program had a pilot run in 2015-2016, but was not run in the 2016-2017 season.
“Providence is known as the Creative Capital due to our commitment to our world-class design community,” said Elorza. “The Design Catalyst program helps creative entrepreneurs succeed by giving them the tools to market their ideas and reach their potential. I encourage all design-driven small businesses to apply today.”
In 2015-2016, 17 businesses participated in the Providence Design Catalyst pilot program. The city said there was $500,000 invested in these businesses and that 55 percent of participant businesses developed a new product line and/or extended their brand. The announcement also said 25 percent of businesses involved in the 2015-2016 pilot received additional funding and/or mentoring from outside sources.
“The Providence Design Catalyst program invests in the burgeoning and growing entrepreneurial design businesses in the city. We are incredibly excited to offer this program again, thanks to our funding partners,” said Lisa Carnevale, executive director of DesignxRI. “With funding, business mentorship and skills training, the program has had incredible success in catalyzing business advancement and ultimately, adding jobs, expanding product lines and growing Providence’s design capital.”
Applicants for the program have been asked to “submit qualifications and experience, business goal(s), expected milestones, success projections and a proposal about how their business growth will benefit the Providence design ecosystem.”
Companies involved in the program will meet at least once a month for training and will be working toward business growth milestones. Meeting these milestones is a requirement to remain in the program.
Companies’ applications will be reviewed by a Design Catalyst steering committee, led by DesignxRI, and will be accepted from Nov. 20 through Dec. 8 at 3 p.m. on DesignxRI’s website.
The program is funded by the city of Providence and the R.I. Department of Labor and Training.
