Governor McKee and Rhode Island Commerce Launch Application for Innovation Network Matching Grants

Published on Tuesday, February 11, 2025

PROVIDENCE, R.I. — Today, Governor McKee and Rhode Island Commerce opened applications for the Innovation Network Matching Grant Program, which awards a minimum of $50,000 – with a 50% match – to eligible organizations supporting high-growth startups in key industries.

The Network Matching Grant Program was created in 2016 and to date has awarded $5.2 million in grants, including more than $700,000 last year.

Projects must be designed to assist small businesses in one or more of the following ways:

Technical Assistance: Providing services that increase the skill-base and/or operational capacity of a business, including, but not limited to, legal or accounting services, succession planning, and business plan development.

Space on Flexible Terms: Providing access to physical space in which a company can work and grow their business. This may include co-working space, co-packing space, and/or space in which equipment may be shared.

Access to Capital: Providing targeted businesses with direct cash infusions that help grow their business.

Eligible applicants include Rhode Island-based nonprofit organizations, for-profit organizations, institutions of higher education, and/or co-working space operators offering support to small businesses, especially high-growth startups in:

Targeted industries including food and agriculture, technology, artificial intelligence, clean energy, defense, design, manufacturing, cyber security, and the ocean economy.

Businesses evaluating a transition to employee-ownership, regardless of industry.

“Rhode Island's economic growth begins by establishing our state as the destination for innovation,” said Governor Dan McKee. “Providing startups with the tools, expertise, and financial support they need to succeed makes the Ocean State stronger.”

“High-growth startups in key industries like clean energy, advanced manufacturing, and ocean technology need a strong foundation of support,” said Secretary of Commerce Liz Tanner. “Investments like these strengthen the support networks that help emerging companies access the capital, space, and expertise they need to thrive.”

Applications must be submitted by 5:00 p.m. on Friday, March 14, 2025.

More information, including how and where to apply, can be found online here.

For questions about the program, please email innovation@commerceri.com.

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