Creating an Innovation Economy: The RIEDC Agenda in 2007

A year ago I had the opportunity to update you on our effort to reposition Rhode Island's economy to create higher wage jobs and greater prosperity for all of Rhode Island's citizens. I am thankful for the support we received from many of you during the last year and proud of what we accomplished by working together.

Our focus at EDC is on jobs. We must create a 21st century innovation economy that produces sustainable jobs and income growth at every wage level. Although there is more work to be done, we made progress in 2006.

[ read more ]

The Providence Journal: "The EDC Walks the Talk"

When the Rhode Island Economic Development Corporation moved its offices to the Westin Hotel 10 years ago, downtown Providence was a ghost town, but on the cusp of becoming a great renaissance city. With its move to the Olneyville section of Providence in January, the EDC is hoping it will again be the catalyst for an economic boom in Providence. [ read more ]

STAC Releases 2007 Recommendations; R.I. Invests $1.5 Million in Collaborative Research

The Science and Technology Advisory Council (STAC) recently released innovate RI 2007, a report setting forth an update on the outcomes of STAC's 2006 recommendations and a set of recommendations for 2007. STAC is charged with recommending and implementing policies and practices that 1) support the state's research and development activity, 2) promote collaboration across institutions, 3) encourage entrepreneurship and new company creation, and 4) enable all Rhode Island organizations, both public and private, to innovate. Read about the new recommendations and STAC's success in 2006 on the STAC website. [ read more ]

STAC also announced the first round of recipients for its Rhode Island Research Alliance Collaborative Research Award program. The awards will provide direct support to 32 scientists from 15 research organizations across Rhode Island. [ read more ] [ read the Providence Journal coverage ]

Urban Revitalization Fund, RIEDC Form Alliance to Promote Synergy Across Rhode Island's Finance Programs

The Rhode Island Economic Development Corporation (RIEDC) and the Urban Revitalization Fund (TURF) announced a new alliance that will strengthen and better align the financing programs offered by both organizations. Through the alliance, TURF will co-locate with RIEDC at the corporation's new offices in the American Locomotive Works Development. [ read more ]

Former DOA Executive Director Named DOT Director

Jerome Williams, the Executive Director of the Department of Administration, has been appointed Director of the Department of Transportation by Governor Donald L. Carcieri. Williams replaces retiring director James R. Capaldi, who served as director since 2003. [ read more ]

Innovator Spotlight: Social Venture Partners Rhode Island

Social Venture Partners Rhode Island (SVPRI) combines the skills of successful business people with the ideals of nonprofit organizations, creating an opportunity for engaged philanthropy that benefits everyone. [ read more ]

Rhode Islanders Should Embrace the State as a Breeding Ground for Innovation

In his article, "A walk through state's past and future," Providence Journal Business Editor John Kostrzewa says that by embracing the state's size as a manageable, realistic test-bed for innovation, Rhode Island will prosper in the global economy. [ read more ]

Innovation Leaders to Headline Business Innovation Factory Events in 2007

Rhode Island's Business Innovation Factory (BIF)—a non-profit organization aimed at supporting innovation locally and nationally—has announced its 2007 learn events. This year, BIF will help leaders understand innovation with Larry Keeley (February 20), dive into the innovation intersection with Frans Johannson (April 3), and master techniques for improving customer experience with Jeneanne Rae (June 6). Register today!

Next On Deck: Larry Keeley on Setting an Innovation Direction
February 20, 2-5 p.m.
Business Innovation Factory, 315 Iron Horse Way, Providence

Join Larry Keeley, co-founder and president of innovation and strategy consulting firm Doblin, Inc. as he shares the emerging science of innovation which is at the heart of Doblin's practice. In a world where up to 96 percent of innovation fails, Doblin clients routinely find success more than 50 percent of the time.

An obsessive investigator, Larry has spent the past two decades investigating the root causes of innovation failure. "Almost everything about the way innovation is taught and practiced and asserted is wrong," he says. "When it comes to innovation, you need to make discoveries, glean insights and concentrate the talent of the team around the really valuable puzzles worth solving. This is how switched-on innovation teams can get the future to show up just slightly ahead of its regularly scheduled arrival."

Larry will show how the elusive goal of innovation is slowly and steadily giving up its secrets in ways that you can now put to use. Participants will learn why discipline is at the heart of innovation and the insights and protocols needed to turn innovation into a routine competence that everyone can accomplish.

• Profile - Read more about Larry Keeley
• Video - Watch Larry Keeley in action at the BIF-2 Summit
• Register now

EDC Consumer Goods Sector Lead Promoted to Director of Business Development

Katharine Flynn, EDC Sector Lead for Consumer Goods for the past three years, has been promoted to the position of Director of Business Development. Prior to joining EDC, Katharine worked for 21 years in sales in New York City on Wall Street. There she focused on several industries, including consumer products, telecommunications, industrials, and restaurants and lodging. She has an A.B. degree in Mathematical Economics from Brown University. [ read more ]

EDC, CCRI Collaborate to Introduce Boat-Building Program

Responding to the lack of employees trained in composite manufacturing, the newest trend in boat building, the Rhode Island Economic Development Corporation and the Community College of Rhode Island created a 10-week composite training program to increase the amount of skilled boat-builders in Rhode Island. [ read more ]

"Tour Rhode Island: There's No Place Like Home" Event Slated for May

Governor Donald L. Carcieri and Mrs. Carcieri announced January 24 that the fourth annual "Tour Rhode Island, There's No Place Like Home" event will be held on Saturday, May 5 from 8 a.m.–5 p.m. at various locations throughout the state. This unique tour creates an opportunity for Rhode Island residents to discover their own state. [ read more ] [ Rhode Island Tourism website ]

In Case You Missed It: EDC Has Moved!

Our new address in the American Locomotive Works development is:

315 Iron Horse Way, Suite 101
Providence, RI 02908
Phone: (401) 278-9100
Fax: (401) 273-8270
Email: info@riedc.com
Website: www.riedc.com

Bigger Know Principles

Check out ECC guest columnist Jeff Deckman's most recent article on how best to connect big ideas and maximize your organization's collaborative thinking. [ read more ] [ Download PDF of Article ]

R.I. Entrepreneur Named Chair of NSBA

The National Small Business Association elected Grafton H. "Cap" Wiley IV as its chair. Wiley, who has been active in NSBA since the 1980s, will be the first Rhode Islander to chair the NSBA. [ read more ]

NOAA Considers Quonset as Home Port for Okeanos Explorer

The National Oceanic and Atmospheric Administration (NOAA) is considering making Quonset Point/Davisville the home port for the Okeanos Explorer, the first federal ship dedicated solely to ocean exploration. [ read more ]

Primer Paso Program Yielding Positive Results

The Rhode Island Small Business Development Center's 12-week business planning course for Latino entrepreneurs aimed to help Latinos start or grow a small business in Rhode Island. Since taking the classes — all free and taught in Spanish — each graduate has seen an improvement in their approach to business. [ read more ]

NABsys and GeneSpectrum Merge

NABsys and GeneSpectrum, biotechnology companies with ties to Brown University, announced in December that NABsys acquired GeneSpectrum in an all-stock transaction. The acquisition will help the new company, NABsys, pursue a propriety method for sequencing human genomes. [ read more ]

EpiVax Succeeds with Alternative Business Model

Providence-based EpiVax Inc., a vaccine design and redesign company, takes a different approach to the typical business model for biotechs. The company, which collaborates with pharmaceutical giants such as Amgen Inc. and Eli Lilly and Co., funds their internal product development with revenue from contract research and grant funding. [ read more ]

Masonic Temple Restoration Project Symbol of Providence's Rebirth

As one of the largest restoration projects in Rhode Island's history and a huge economic boon to the city of Providence, the Masonic temple is scheduled to open as a 272-room Marriott Renaissance hotel in April, and it couldn't have been done without Rhode Island's historic tax credits. [ read more]

Brown Medical School Receives $100-Million Gift

Warren Alpert, owner of Xtra Mart convenience stores, has donated $100 million to Brown University School of Medicine. The gift will be used for scholarships, research and a new building in South Providence. In honor of the donation, the school will be renamed the Warren Alpert Medical School of Brown University. [ read more ]

URI Aims to Increase Funds with New Research Chief

In an effort to boost research grants, the University of Rhode Island hired Peter Alfonso as the vice provost for research. Alfonso, who was most recently the vice president of research at the University of North Dakota, is credited with more than doubling the amount of research money granted to UND. [ read more ]

RWU President Dubbed "Rising Star"

Roy J. Nurshel, the Roger Williams University president who has been credited with the university's incredible growth since 2001, has been named one of University Business magazine's five "Rising Stars" in higher education. [ read more ]

Rhode Island Local Food Forum

• When: February 13, 8 a.m.–1:30 p.m.
• Where: Brown University, Providence
• Contact: Farm Fresh Rhode Island, www.farmfreshri.org/about/localfoodforum.php

Come hear EDC Executive Director Saul Kaplan discuss the economic value created by small business and local food in Rhode Island. Learn from farmers, restaurants and other buyers that have made farm-to-table not just a reality but a priority. Discuss challenges, bounce ideas and build a strategy that works for your business.

Rhode Island Procurement Technical Assistance Center Training Session

• When: February 15, 8:30–11 a.m.
• Where: Rhode Island Economic Development Corporation, 315 Iron Horse Way, Suite 101, Providence
• Contact: Louis Francis, 401-278-9100, lfrancis@riedc.com, http://riptac.ecenterdirect.com

This month's training session focuses on General Service Administration schedules (government purchasing). One-on-one counseling is available by appointment.