The Greater Providence Chamber of Commerce and the City of Providence today awarded $150,000 in grants to 11 projects that have been identified as promising economic opportunities in growing the local Knowledge Economy. The grants given in the areas of design, entrepreneurship, product safety, workforce development and alternative energy were presented at AS220’s Fab Lab.

 

“Today we are taking the next important step in accelerating the local Knowledge Economy by investing in the people and ideas that will drive our economy in the coming days, months and years,” said Edward J. Cooney, vice president and treasurer, Nortek, chairman of the Chamber board of directors. “Not only are we recognizing a tremendous wealth of talent, but we are continuing to build a strong foundation from which to commercialize and grow the entrepreneurial spirit that clearly exists in Providence and across Rhode Island.”

 

“Providence has a rich history of innovation and entrepreneurship and this grant program highlights our region’s Knowledge Economy assets,” stated Providence Mayor David N. Cicilline. “The City of Providence is proud to support this effort which will serve to nurture and support individuals from our institutions of higher education, private and public sectors. These grants are among a larger strategy underway by the City, The Greater Providence Chamber of Commerce and others that take the ideas of entrepreneurs and bring them to life.”

 

The Knowledge Economy Grants were chosen from a total of 21 proposals submitted to The Innovation Providence Implementation Council (IPIC). Chaired by Constance Howes, president and CEO of Woman & Infants Hospital, the IPIC considered each proposal’s ability to fit within defined “targets of opportunity” as well as to show collaboration, measurable outcomes and evidence of matching funding when making its final selection.

 

“Many of today’s grant recipients are the direct result of the work that the Chamber, the city, and local institutions and foundations have done in the last nine months to identify areas of opportunity in the local economy,” Howes said. “The IPIC was impressed with the depth and breadth of proposals we received and look forward to continue working with today’s recipients over the next several months to ensure their success.”

 

The Knowledge Economy initiative began in 2007 when a team of civic, academic, and business leaders, were brought together to develop a plan to strengthen and grow the region’s knowledge economy sectors – healthcare, technology, research & design, and alternative energy – by identifying, coordinating and supporting regional assets, competencies, and networks.

 

The (IPIC), which has overseen this project to date, will continue in its leadership capacity tracking the progress of each grant recipients in the months ahead. The IPIC Vice Chairs are Bill Hatfield, president of Bank of America-Rhode Island and Richard Spies, executive vice president at Brown University.