Commerce dept. grants to boost RI 'knowledge economy'
1:52 PM Thu, Oct 01, 2009 | Permalink
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PROVIDENCE, R.I. -- Local innovators and institutions working to strengthen Rhode Island's knowledge economy can apply for $100,000 grants now available from the U.S. Department of Commerce's Economic Development Administration. Organizations, particularly in the health care, research and design sectors are encouraged to apply for this second round of knowledge economy grants administered by the Innovation Providence Implementation Council [IPIC], of the Greater Providence Chamber Foundation. The funds are aimed at short-term projects and awards will range between $10,000 and $25,000. Eligible applicants include higher education, hospitals, industry trade associations and nonprofit organizations. The Knowledge Economy Initiative, overseen by the Innovation Providence Implementation Council, began in 2007 after a team of civic, academic and business leader looked for ways to develop a plan to bolster the region's knowledge economy sectors: health-care, technology, research and design and alternative energy, by identifying, coordinating and supporting regional assets and networks. For information about the Providence-RI Knowledge Economy Initiative and how to apply for a grant go to providencechamber.com. The deadline to submit proposals is Oct. 9. 
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This is our money poured down a rathole. $100K, or worse, $10K or $25K grants will only fund studies and small experiments. They will not attract further capital.
The only way we can develop a "knowledge economy" in this state is to improve K-12 education or change the environment so real businesses want to move here and bring skilled workers with them. We've got great colleges, but can't keep graduates here. Like it or not, we do not have the labor pool to support the illusory "knowledge economy" for other than lifestyle businesses (a derogatory term used by investors to describe businesses that are run to support the owners' desires, not for growth).
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