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Innovate Rhode Island Small Business Fund
R&D / Tech · Rhode Island Science and Technology Advisory Council (STAC) · RI
The Innovate Rhode Island Small Business Fund is a state grant program run by Rhode Island's Science and Technology Advisory Council that helps Rhode Island small businesses cover SBIR/STTR application costs, matches federal Phase I and Phase II awards, and funds student internships. It's for RI-based small businesses pursuing federal SBIR/STTR research funding, with specific rounds and deadlines to be confirmed at the official site.
The Innovate Rhode Island Small Business Fund is a state grant program administered by the Rhode Island Science and Technology Advisory Council (STAC). It is designed to support Rhode Island small businesses that are pursuing federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) awards.
The fund offers three types of support: help offsetting the cost of preparing SBIR/STTR applications (up to $3,000), state matching grants for companies that win federal Phase I or Phase II SBIR/STTR awards (up to $75,000 for Phase I and up to $150,000 for Phase II), and funding to support internships for Rhode Island college students (up to $6,500). This structure is meant to reduce the financial burden of applying for competitive federal research funding and to help companies stretch federal awards further once they win them.
This program matters to small-business owners in research and technology fields because SBIR/STTR grants are highly competitive and often require significant upfront investment just to apply. State-level matching funds like this one can make participation more feasible for early-stage tech companies without deep pockets, and the internship component can connect small businesses with local student talent.
As funding rounds and exact award terms can change, applicants should confirm current award amounts, open application rounds, and detailed eligibility requirements directly at the official STAC website before applying.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
It is a grant program; funding does not need to be repaid as a loan would.
Who runs this program?
It is administered by the Rhode Island Science and Technology Advisory Council (STAC), a state agency.
Who is eligible?
Eligible Rhode Island small businesses pursuing federal SBIR/STTR awards.
How much money can I get?
Support ranges from up to $3,000 for application costs, up to $75,000 matching for Phase I awards, up to $150,000 for Phase II, and up to $6,500 for internships.
What can the money be used for?
It can offset SBIR/STTR application costs, match federal Phase I/II SBIR/STTR awards, or fund internships for RI college students.
When is the deadline?
The listing notes to check current rounds; confirm the current deadline at the official source.
Where do I apply?
Apply through the official STAC website at https://stac.ri.gov/find-funding/innovate-ri-fund/.
Do I need to already have a federal SBIR/STTR award?
Not necessarily — the fund supports both application costs before an award and matching funds after winning a Phase I or Phase II award.
Is this only for Rhode Island businesses?
Yes, eligibility is limited to Rhode Island small businesses.
Is this funding taxable?
This is not specified in the available information; confirm at the official source.
What type of businesses does this target?
It targets small businesses in research and technology (rd-tech) fields pursuing SBIR/STTR funding.
Can the funding help with hiring students?
Yes, the internship component provides up to $6,500 to help fund internships for Rhode Island college students.
Opportunity number: not published. Source: curated + verified (official state source, 2026). GetFundedUSA is independent and not affiliated with Rhode Island Science and Technology Advisory Council (STAC); always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.