Innovation Voucher Program
Funds Rhode Island small businesses partnering with research institutions to advance manufacturing innovation.
Eligibility · United States · US-RI
⚠This may reflect a past cycle — verify the current call on the funder's site.
Rhode Island Commerce Corporation's Innovation Voucher Program provides grants of up to $75,000 to Rhode Island small businesses to fund research and development projects that drive growth and commercialization. The program operates through two distinct voucher types: a Knowledge Provider Voucher, which funds R&D partnerships between small businesses and local colleges, universities, research institutes, or hospitals; and a Manufacturing Voucher, which funds internal R&D for businesses holding a manufacturing NAICS code. Since its inception, the program has invested $8.1 million across its portfolio, generating $56.2 million in follow-on private and federal investment — a roughly 6.9x return on public dollars.
Eligible applicants must be small businesses with 500 or fewer employees, registered to do business in Rhode Island, and must demonstrate that at least 51 percent of the workforce is based in-state. Knowledge Provider Voucher applicants are additionally required to partner with a Rhode Island college, university, research institute, or hospital. Targeted industry sectors include Advanced Materials, Ocean Economy, Defense, Energy and Environment, Food Systems, and Life Sciences. The FY2026 cycle ran from March 31 through April 28, 2026; the next FY2027 cycle is expected to open in spring 2027.
Applicants must download the Innovation Voucher Budget Template and submit their application through the program's online portal. Outreach to potential Knowledge Provider partners — university tech-transfer or research offices — before the application window opens accelerates the required partnership documentation. Businesses should join RI Commerce's Innovation Initiatives mailing list to receive notification when the FY2027 cycle opens. Contact: innovation@commerceri.com or (401) 278-9100.
R&D projects that drive growth and commercialization in Advanced Materials, Ocean Economy, Defense, Energy and Environment, Food Systems, and Life Sciences.
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