Foundation / Corporation
Rhode Island Business Competition
04/13/21 5:00 PM ET
Opportunity for Rhode Island entrepreneurs to compete for cash awards and in-kind support to develop businesses. Applicants are required to submit an application prior to a full business plan. In addition to the cash award, applicants may also receive access to mentoring and co-working spaces, as well as opportunities to participate for further competitions.
The Rhode Island Business Competition has been organized to promote entrepreneurship and the development of start-up and early-stage companies in Rhode Island by encouraging submission of plans of original business concepts that will lead to the development of new growth businesses.
Applicants may submit an idea for early stage, or seed stage, company. This typically is a business proposal at the inventor stage where there is an idea, a concept, or even a product, but little or no income.
No industry is favored over any other. The competition has received applications for many industries, including data management, food & beverage, education, energy, entertainment, green technology, health & nutrition, hospitality, insurance, maritime operations, med-tech, and software.
The judges focus on originality, scalability, and likelihood of success when winnowing down applicants. Scalability refers to breadth of business. For example, an application to develop a storefront cafe will likely not be viewed favorably. However, a proposal to create a franchised network of storefront cafes will likely garner a more positive reception since it has the potential to create more jobs.
GrantWatch ID#: 178886
One winner and three finalists
Prizes consisting of cash and in-kind services, with a total value of at least $150,000, will be awarded to a winner and three finalists in the 2021 Rhode Island Business Competition.
Also, everyone who submits a completed application to the 2021 Competition will receive two consecutive months of free co-working space for their team at Sprout Coworking in the Rising Sun Mills campus in Providence. Free parking and access to meeting space is included.
And all semi-finalists will receive free mentoring services from RIHub.
The bonus winner will automatically qualify as a semi-finalist in Get Started Rhode Island 2021, which will award prizes valued at $50,000.
In addition, finalists will have the opportunity to enter round two of judging in the highly competitive MassChallenge accelerator program -- and be one step closer to potentially joining the MassChallenge Rhode Island cohort.
Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.
The online application will be available January 6, 2021 at:
Email inquiries to:
Send mail inquiries to:
Rhode Island Business Competition
c/o Business Development Company
40 Westminster St., Ste. 702
Providence, RI 02903
USA: Rhode Island
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