Biz Bodega — a centralized hub for small business support and resources — is located in Central Providence.
By Christopher Allen
Providence Business News
PROVIDENCE- The R.I. Commerce Corp. board of directors on Monday awarded five Network Matching Grants totaling $393,125 and five Innovation Vouchers totaling less than $250,000.
The approvals came during the regular board meeting of the quasi-public agency chaired by Gov. Daniel J. McKee, who Tuesday in a statement said “this round of award recipients is a shining example of what is possible when we invest in businesses and organizations with vision.”
The voucher program, launched in 2016, awards up to $50,000 to companies with 500 employees or less and can be used for research and development.
The Innovation Network Matching Grant program, which require at least a 50% match from the applicant, was launched in 2017 and allows third-party organizations “to expand their efforts to offer technical assistance, space on flexible terms, and/or access to capital to Rhode Island small businesses in key industries,” according to its website.
Commerce Secretary Liz Tanner in a statement said the dual programs “are two important tools for business development across our state.
“Our message is that Rhode Island wants to help your business innovate and thrive,” she said. “This round of award recipients is proof that innovative expansion is taking place right here in the Ocean State.”
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Innovation Network Matching Grants were as follows:
- $98,125 to ONE Neighborhood Builders to expand the work of their recently launched Biz Bodega—a centralized hub for small business support and resources located in Central Providence and increase community engagement efforts for their Central Providence Community Loan Fund.
Christopher Allen is a PBN staff writer. You may contact him at Allen@nullPBN.com.
