Six Rhode Island companies have received state matching grants to leverage federal funds intended to promote innovation in technology through Commerce RI’s Science and Technology Advisory Council.
Posted: Thursday, December 10, 2015 7:17 pm
PROVIDENCE – Six Rhode Island companies have received state matching grants to leverage federal funds intended to promote innovation in technology. Named Thursday by Gov. Gina M. Raimondo and the R.I. Commerce Corporation were: Propel LLC, Btech Accoustics LLC, Electro Standards, Prothera Biologics, Response Technologies and TEAM Inc.
The companies will receive funds through Commerce RI’s Science and Technology Advisory Council.
“The Innovate Rhode Island Small Business Fund is just one of several initiatives we have for local businesses in the innovation, research and development, and technology sectors,” Raimondo said in a news release. “With our competitive suite of tools, we are showing companies around the world that Rhode Island is an innovation hub, complete with unique and groundbreaking universities an award-winning medical facilities.”
The state innovation funds will total $261,463 and will be used by the recipients to leverage another $946,231 in federal funds. The money will be used by the companies to develop technologies that are of interest to federal agencies.
Original Article Here: http://pbn.com/Six-tech-companies-receive-Commerce-RI-grants,110727