RITIC Explained

RISCPA/RI Business Forum received funding to operate a first in the US Technology Innovation Center, known as Rhode Island Technology and Innovation Center.

This initiative is supported by funding from President Biden’s Infrastructure Package and collaborates closely with leading Rhode Island higher education institutions, such as Rhode Island College and the University of Rhode Island, among others. This unparalleled support mechanism for small businesses aims to equip Rhode Island’s business sector with deep insights into prevailing challenges, such as supply chain and logistics issues, and to uncover new market opportunities. Additionally, the program aligns with the U.S. Small Business Administration, leveraging the STEP trade program to assist small businesses in reaching global markets with their products. This collaborative effort marks a significant step forward in providing Rhode Island businesses with the resources and support needed to thrive in today’s competitive landscape.

Target industries for the grant include defense and the blue economy, but all will be considered.

RIMA (RI Manufacturers Association) and RISCPA/RI Business Forum are founding members.

Key Objectives and Program Deliverables

Enhance Data Analytics Utilization Among RI Small Businesses – Equip RI small businesses with the tools and knowledge to apply data analytics effectively, addressing their unique operational challenges. This includes harnessing analytics for supply chain improvements, market expansion (both domestically and internationally through a partnership with SBA STEM Export), operational efficiencies, and risk mitigation.

Facilitate Supply Chain and Market Expansion Opportunities – Explore avenues for leveraging data analytics to optimize supply chains and facilitate expansion into new markets, thereby fostering growth and sustainability among local businesses.

Foster Experiential Learning in Business-Related Disciplines – Establish partnerships between RI small businesses and students from local colleges and universities (including Rhode Island College, the University of Rhode Island, Bryant College, and Providence College), focusing on business, supply chain management, and business analytics. This initiative aims to provide hands-on, practical experience to students while benefiting businesses with fresh insights and analytics-driven solutions.

Expand Data Analytics Education Through Practical Experience – Offer students the opportunity to deepen their understanding of data analytics by working with real-world data from the RI manufacturing sector. This approach not only enhances educational outcomes but also contributes positively to the local business ecosystem. Work with local universities and colleges to incorporate this experiential learning program into their existing curricula, enabling a seamless blend of theoretical knowledge and practical field training for students. This initiative will not only enrich the students’ educational journey but also prepare them better for the demands of the modern workforce.

RITIC

Rhode Island Technology and Innovation Center

Helping Small Businesses in Rhode Island

Utilizing data analytics technology to support RI businesses: We aim to foster collaboration between Rhode Island small businesses and local college and university students, empowering businesses to leverage data analytics for problem-solving.  Providing access to technology that many RI small businesses would other wise not be able to access or afford.  This initiative not only supports local enterprises but also provides valuable hands-on experience for students, nurturing a symbiotic relationship that strengthens both our economy and educational ecosystem in Rhode Island.  
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Contact US

Rhode Island Technology and Innovation Center 40 Sharpe Drive, Unit 5 Cranston, RI 02920-4402 ritic1636@gmail.com