URI_Research_Magazine_Momentum_Fall_2021_Melissa-McCarthy

The innovation campuses are already adding hugely beneficial programs and assets to URI that will help attract and retain students and faculty and ultimately create economic development for the University and the state . acceleration programs and create ‘collision spaces’ where people share ideas,” Rumsey says. “That has become a little more subtle with COVID requiring virtual interactions, but we have to have human talent proximity — even if it means using Zoom — to make innovation happen.” As the state’s flagship research university, URI is a key player in all of the innovation campuses to leverage resources and talent and to ensure continuity in shepherding the projects through to become self-sustaining entities. Three innovation campuses are already underway or being developed. Rhode Island Hub — or RIHub — is intended to be a super-accelerator and incubator for those in the early stages of creating a start-up company. In partnership with Brown University, IBM and MassChallenge, RIHub provides among other programs a three-month intensive mentoring and training program on business plan development, legal and accounting issues, customer development and other topics that will enable entrepreneurs to build their companies. With the main office located at the Wexford Innovation Center in Providence, RIHub also offers venture mentoring

PETER RUMSEY Chief Business Development URI Research Foundation

MICHAEL HALLOCK CEO and Co-Founder RI Mushroom Co.

Rumsey says, “The industry segments targeted are the fastest-growing and most- promising industries in our state, and we want to create job opportunities and wage growth in these industries that are resilient to economic upturns and downturns.”

A $20 million bond approved by Rhode Island voters in 2016, plus matching funds provided by the industry partners, are funding the initial development of the state’s innovation campuses. The state funds are intended for use in providing and outfitting the physical spaces for collaboration. “The physical manifestation is very important because we find that great innovation usually happens when you bring a very diverse set of skills and disciplines together with targeted

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