Rhode Island Commerce Awards Three New Innovation Vouchers

Published on Tuesday, November 26, 2024

PROVIDENCE, R.I. — Today, the Rhode Island Commerce Corporation awarded $225,000 to three businesses through its Innovation Vouchers Program.

The Innovation Voucher Program offers eligible, locally based entrepreneurs and small businesses up to $75,000 in grant funding to expand research and development in partnership with local knowledge providers such as colleges, universities or teaching hospitals. The program has awarded more than $6.5 million in grant funding since its inception in 2016.

“Rhode Island is home to a growing innovation ecosystem, and my administration is proud to support the forward-thinking spirit of our business community through this program,” said Governor Dan McKee. “I look forward to seeing these companies innovate and flourish in Rhode Island for years to come.”

“Research and development are the essential first steps in turning innovative ideas into reality,” said Secretary of Commerce Liz Tanner. “By funding innovation, we are empowering entrepreneurs and businesses to turn bold ideas into groundbreaking solutions that benefit Rhode Island’s economy, our communities, and our future.”

Voucher recipients unanimously approved by Rhode Island Commerce’s Board of Directors during its November meeting include:

Ambilabs, LLC | Warren | $75,000 | Manufacturing Voucher | Ambilabs, LLC has developed a unique compact airborne aerosols monitoring system designed to measure air quality and visibility degradation caused by smoke and other air pollution. Ambilabs will use this grant to consolidate the validation and testing of their novel measurement system. With success of this project, Ambilabs will produce a fully US-manufactured solution and be ready to scale manufacturing operations in Rhode Island.

Lenoss Medical | Bristol | $75,000 | Knowledge Provider Voucher | Lenoss Medical, Inc. will partner with Dr. Anita Shukla of Brown University’s School of Engineering to conduct the next stage of research and development focused on investigating the potential of using the OsteoPearlTM Vertebral Body Augmentation (VBA) System as a drug delivery system. Dr. Shukla’s team will investigate and categorize the drug delivery capabilities of the OsteoPearlTM biological allograft implant and optimize the design of the dual-purpose implant. The goal of this work is to advance the current treatment for vertebral compression fractures by creating a combination product that addresses both the fracture healing and the diseases causing the fracture, such as osteoporosis, at the time of surgery.

Native Orthopaedics | Providence | $75,000 | Manufacturing Voucher | Native Orthopaedics has created a novel implant solution that simplifies the suturing process of knee repair surgery. With this voucher, Native Orthopaedics will test their device in dry and wet settings to produce the data required for regulatory compliance. Native Orthopaedics tensioner device has the potential to improve knee repair strength, improve patient outcomes from knee surgery, and reduce the necessity for full knee replacement.

“Ambilabs is honored to receive this Innovation Voucher from Rhode Island Commerce which will greatly support our company’s vision to help the world to breathe better with improved ambient air pollutant measurement technologies,” said Andy Tolley, Founder and CEO of Ambilabs LLC. “These innovation funds will enable real progress for Ambilab’s research and development team, leading us into commercialization and local advanced technology manufacturing.”

“Lenoss Medical is thrilled to have the support of RI Commerce as we look to accelerate and advance our research with Brown University,” said John Williams, Executive Director, Sales Strategy and Operations. “Our work with Brown University is focused on providing a first of its kind intraosseous bone formation treatment for patients suffering a vertebral compression fracture due to osteoporosis.”

“Bringing clinically meaningful innovation to the market that benefits patients, surgeons and healthcare economics requires significant investments and resources. Native Orthopaedics is honored to receive this Innovation Voucher from Rhode Island Commerce so we can continue to grow within the state’s med-tech ecosystem,” said Tom Gamache, Founder and CEO of Native Orthopaedics.

Innovation Voucher applications are accepted on an ongoing, rolling basis. This is the third round of Innovation Vouchers awarded in 2024.

More information on the Innovation Voucher program, as well as several additional innovation-focused programs, can be found at https://www.CommerceRI.com/Innovation.