PROVIDENCE – A recently announced $1 million initiative administered by the Massachusetts-based Northeast Microelectronics Coalition Hub will provide support for small businesses and startups throughout the region, including in Rhode Island.
The program, Powering Regional Opportunities for Prototyping Microelectronics, will finance development in New England’s microelectronics sphere.
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Eligible coalition members with no more than 50 employees can receive up to $100,000 in grant funding with a 25% awardee cost share, while businesses with 51-100 employees must pay a 50% share.
The coalition, a division of the Massachusetts Technology Collaborative, was one of eight semiconductor hubs established throughout the U.S. under the U.S. CHIPS and Science Act.
“Commercializing promising semiconductor technologies requires significant time and capital investment, and we’re excited to offer a pathway to reduce the cost of lab-to-fab development,” NMCH Director Mark Halfman said in a statement. “This program demonstrates our commitment to leveraging federal CHIPS and Science Act funding to further the commercialization of microelectronics in our region.”
Interested business owners and entrepreneurs can learn more and apply for coalition membership on the hub’s website.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
