Program provides up to $75,000 in funding for R&D; deadline to apply is Tuesday, July 21
PROVIDENCE, R.I. – June 26, 2026 – Rhode Island Commerce is now accepting applications for its Innovation Voucher Program. Innovation Vouchers are grants that fund strategic investments in local businesses to catalyze growth through research and development (R&D). Businesses may apply for up to $75,000 in funding. Applications are being accepted through Tuesday, July 21, 2026, at 5:00 p.m.
“Small businesses are the driving force behind Rhode Island’s economy, and innovation is what keeps them growing and competitive,” said Governor McKee. “By investing in R&D today, we are helping businesses create opportunities and jobs for tomorrow.”
Innovation Vouchers fund R&D conducted in partnership with a local “Knowledge Provider” such as a college, university, hospital, or research institution, or conducted in-house by a manufacturing business.
"Commerce is pleased to open another round of Innovation Vouchers," said Secretary of Commerce Stefan Pryor. "This program connects our small, entrepreneurial businesses with Rhode Island's research institutions, helping to turn emerging ideas into commercial reality. These collaborations help us build a stronger, more energized economy."
Since the program’s inception, 158 projects across 125 companies have received Innovation Vouchers, representing a total investment of nearly $8.5 million.
Innovation Voucher applications are evaluated based on possible impact, technological innovation, market demand, and potential for commercialization. Support is prioritized for targeted industries, including advanced materials, ocean economy, defense, energy and environment, food systems, and life sciences.
Applications are due Tuesday, July 21, 2026, at 5:00 p.m.
Businesses can learn more and apply at commerceri.com/innovation-voucher/.
Contact: Giselle Mahoney
(401) 545-0626
giselle.mahoney.ctr@commerce.ri.gov
