Home Economy R.I. Commerce Corp. awards $282K in innovation vouchers

R.I. Commerce Corp. awards $282K in innovation vouchers

By

Christopher Allen

-

04/29/2025

wCQPUqz2-R.I.-Commerce — THE R.I. COMMERCE CORP. board of directors on Monday unanimously awarded four Innovation vouchers totaling $282,921.

PROVIDENCE – The R.I. Commerce Corp. board of directors on Monday unanimously awarded four innovation vouchers totaling $282,921 to accelerate product innovation and expand high school career technical education in ocean technology. Created in 2016, the Innovation Voucher Program offers eligible entrepreneurs and small businesses up to $75,000 in grant funding to expand research and development.

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PROVIDENCE – The R.I. Commerce Corp. board of directors on Monday unanimously awarded four innovation vouchers totaling $282,921 to accelerate product innovation and expand high school career technical education in ocean technology. Created in 2016, the Innovation Voucher Program offers eligible entrepreneurs and small businesses up to $75,000 in grant funding to expand research and development. This latest approval was the first round of awards handed out in 2025. The program has awarded more than $6.5 million in grant funding to date. Gov. Daniel J. McKee, who also chairs the Commerce board, in a statement said the program “is making Rhode Island a destination for innovation.” “These new investments help give our state the competitive edge to attract and support businesses while creating a pipeline of local talent to fill the good-paying jobs we create as a result,” he said. The latest recipients are as follows:

Vatn Systems Inc., $73,468 to advance wireless charging systems for autonomous underwater vehicles.
American Cord and Webbing Co., $74,973 to develop tactical belt webbing and a metal quick-release buckle for military and law enforcement use.
Electro Standards Laboratory Inc., $75,000 to prototype the EtherCap, a broadband network switch with integrated supercapacitor power backup.
Crewless Marine Acoustic LLC, $59,480 to develop and manufacture an affordable hydrophone sensor with acoustic data fusion software.

R.I. Commerce Secretary Elizabeth Tanner said “Investing in key industries like these will help build a stronger and more resilient economy.” “By supporting innovation and empowering workers, we are laying a strong foundation for sustainable growth, new opportunities and long-term prosperity in Rhode Island," she added. In addition, a $94,589 grant was approved by the Commerce board to launch the Blue Youth Program to promote career readiness and workforce development collaboration between high schools, the Community College of Rhode Island, and industry partners. Led by Tribe Academy LLC, doing business as Courage Builder, in collaboration with Times2 STEM Academy, CCRI, and several local ocean technology companies to provide externships for up to 150 high school students and support the development of engineering curriculum. Nishita Roy-Pope, founder and CEO of Courage Builder said the program can “serve as a model for other academic-industry collaborations to cultivate the skills and experiences required for our future blue economy workforce.” Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.