PORTSMOUTH, RI, August 18, 2020 – Polaris MEP sister agency 401 Tech Bridge has announced the completion of a $6 million funding round, which will accelerate collaborative technology commercialization, increase jobs and aid the regional economic recovery.
A recently secured $2.3 million implementation grant from the U.S. Economic Development Administration rounds out the capital raise to support the launch of 401 Tech Bridge, which was also provided by National Institute of Standards and Technology’s Manufacturing Extension Partnership (NIST MEP); Office of Naval Research; Rhode Island Innovation Campus; Rhode Island Commerce Corporation; The Rhode Island Foundation; and the van Beuren Charitable Foundation.
Polaris MEP Center Director Christian Cowan said:
“We are thrilled to be awarded this EDA grant that will further accelerate 401 Tech Bridge’s collaborative technology commercialization, increase jobs and aid the regional economic recovery. Since its inception, 401 Tech Bridge has been leveraging its relationships to connect technologies to the organizations that can commercialize them—including being the first site to partner with the Office of Naval Research’s Naval X Tech Bridge initiative to expand collaboration and innovation among the Navy, academia and regional companies. Ultimately this helps to get advanced materials and technology innovations into the hands of users, for the benefit of all.”
Cowan also serves as Chief Operating Officer of the University of Rhode Island Research Foundation. He conceived of the 401 Tech Bridge and brought its team and funders together. Former Polaris MEP Growth & Strategy lead Mary Johnson is now the 401 Tech Bridge Manager.
The 401 Tech Bridge facility in Portsmouth will offer many resources to Rhode Island manufacturers, including:
- lab space for prototyping, testing and proof-of-concept builds;
- collaborative space for industry, government and academia to work with partners on design, modeling, testing and digital verification;
- a convertible open meeting space for presentations, training seminars, and events; and
- office space.
Read the press release: https://bit.ly/2YfL71q