Rules and Regulations for the Innovation Voucher Program


870-RICR-20-00-4 INACTIVE RULE

There is no interactive regulation text for this version of this Part. Use the “Regulation” tab to view the text of this Part.
Title 870 Commerce Corporation
Chapter 20 Loans and Grants
Subchapter 00 N/A
Part 4 Rules and Regulations for the Innovation Voucher Program
Type of Filing Adoption
Regulation Status Inactive View Active Rule
Effective 11/25/2015 to 02/06/2018

Regulation Authority :

42-64.28-1

Purpose and Reason :

The Rules implement the newly-enacted Innovation Voucher program, which provides vouchers of $5,000 to $50,000 to businesses for innovation projects that will address existing challenges, enhance the innovation capacity of the business, and/or have a catalytic impact on the business. Vouchers are available to pay for access to research or scientific expertise; technological development or technology exploration; product, service, or market development or commercialization; or the development of improved business practices that implement strategies to grow business and create operational efficiencies. To qualify for a voucher, the regulations provide that a business must have 500 or fewer employees in Rhode Island. The business must obtain the services sought from a Rhode Island institution of higher education or other entity located in Rhode Island; in rare circumstances, the Corporation may permit a non-Rhode Island entity to provide the services the business needs if no entity located in Rhode Island is available and able to perform them. In response to a comment, the text of Rule 3 has changed from the version published in the register to provide greater specificity to the board process described in that provision.

There are no electronic rulemaking documents for rules filed prior to August 14, 2018. For rulemaking documents for rules filed prior to this date, please contact the appropriate agency's Rules Coordinator.