Home Economy Economic Activity R.I. Commerce awards $800K in innovation grants

R.I. Commerce awards $800K in innovation grants

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PBN Staff

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06/02/2026

Commercecrop — THE R.I. COMMERCE Corp. board of directors has awarded a total of $800,000 to 13 organizations through its Innovation Network Matching Grant Program.

PROVIDENCE – The R.I. Commerce Corp. board of directors has awarded $800,000 to 13 organizations through its Innovation Network Matching Grant Program. The program provides grants to organizations that support small businesses in industries such as food and agriculture, technology, artificial intelligence, clean energy, defense, design, manufacturing, cybersecurity, the blue economy or businesses evaluating a transition

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PROVIDENCE – The R.I. Commerce Corp. board of directors has awarded $800,000 to 13 organizations through its Innovation Network Matching Grant Program. The program provides grants to organizations that support small businesses in industries such as food and agriculture, technology, artificial intelligence, clean energy, defense, design, manufacturing, cybersecurity, the blue economy or businesses evaluating a transition to employee ownership. “These ... grants further strengthen the support structure for Rhode Island’s entrepreneurs and small businesses,” said R.I. Secretary of Commerce Stefan Pryor. “By investing in organizations that provide valuable technical assistance to startups and early-stage companies, we are helping to buttress and energize the state’s innovation network.” The latest recipients are: CreSer Evoluciona: $50,000 for technical assistance for a 12-month initiative serving 20 Rhode Island small businesses through full implementation of AI-enabled financial automation systems combined with structured financial coaching. Hope & Main: $50,000 to provide technical assistance through the "Wholesale Growth Accelerator" for food companies to scale into co‑packing, wholesale and distribution. New England Medical Innovation Center: $75,000 to provide technical assistance through the NEMIC Ideation Studio Health Track, which will be run in partnership with the University of Rhode Island Research Foundation for one year. Newport County Development Council: $50,000 to provide technical assistance through current business support programming for entrepreneurs, business attraction, foreign direct investment and economic development. Nova Design: $50,000 to provide technical assistance for early-stage founders in the health and wellness and/or medical-device space. Turtle Island Community Capital: $75,000 to provide technical assistance and access to capital to Rhode Island entrepreneurs and small businesses through the first Indigenous-led CDFI in Rhode Island and the region. Rhode Island Black Business Association: $50,000 to provide technical assistance in targeted industries as well as access to flexible workspace opportunities, workforce development alignment and capital access support to help participating businesses increase competitiveness and innovation capacity. RI Bio: $75,000 to provide technical assistance running the "RI Bio Capital Catalyst Program," an incubator for 5-15 companies at pre-seed to Series A stages. Rogue Island Ventures: $75,000 to provide 10-20 companies in Rhode Island dedicated technical assistance and hands-on support, including fundraising assistance, business strategy, financial reviews, customer introductions, talent acquisition, mentorship and board participation, to help startups scale and attract additional outside investment. Sincere Multiservice: $50,000 to establish Sincere Microenterprise Financial Innovation Initiative, a 12-month technical assistance program providing individualized financial diagnostics, bookkeeping system implementation, cash flow forecasting, pricing analysis, revenue modeling, capital readiness preparation and structured workshops to help businesses strengthen financial infrastructure and stabilize operations. Skills for Rhode Island's Future: $75,000 to provide technical assistance through its RI Small Business Hub for succession planning and an employee ownership pilot for 10 small businesses facing ownership transitions in Woonsocket. Small Business Collective: $75,000 to provide technical assistance to at least 75 small businesses; support increased partnerships for new nonprofit. Social Enterprise Greenhouse: $50,000 to provide individualized technical assistance to 25 small-business alumni of SEG through ScaleLab RI, an advanced growth initiative for those businesses that have demonstrated early revenue traction and are ready to scale. According to R.I. Commerce, the program has awarded 62 grants totaling more than $6.3 million since 2016.