R.I. opens $400K grant portal to provide businesses technical assistance, flexible workspace

PROVIDENCE – The state on Friday has opened up its application portal to help provide grants to businesses with technical assistance, access to capital and flexible workspace.

Gov. Daniel J. McKee and the R.I. Commerce Corp. announced the applications for the Network Matching Grant Program are now open through Nov. 30 at 2 p.m. Approximately $400,000 is available through state appropriations to entities supporting local businesses.

The grant applications, state officials say, are open to Rhode Island-based nonprofits, for-profit organizations, colleges and universities, and/or coworking space operators supporting advanced industries and local-serving industries within Rhode Island. Such industries include life sciences, technology, defense and the blue economy.

State officials said the program provides at least $50,000 in matching grants to eligible entities, providing businesses with technical assistance, creating or expanding capital-access programs, and/or providing space to be used by businesses on flexible terms.

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“We are at a critical juncture for Rhode Island’s economy, and programs like the Network Matching Grant can help to catalyze and compound our economic comeback, as well as stand up programs that fill gaps in the support offered in our current ecosystem,” R.I. Commerce Secretary Elizabeth Tanner said in a statement. “As an example, we have seen a recent gap in support for technology-related business growth, including fintech and clean tech. The Network Matching Grants are a clear way to be able to support these and other priority industries.”

Applications can be found on R.I. Commerce’s website.

James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on Twitter at @James_Bessette