The city of Providence will partner with local angel and venture investors Betaspring, Slater Technology Fund and Cherrystone Angel Group to create one-of-a-kind public investment initiative it believes can put the city on the map as a “startup incubator.”
The Innovation Investment Program (IIP) will be managed by the city and funded under the US Department of Housing and Urban Development (HUD). Believed to be the first equity investment program under HUD nationwide, the IIP fund uses federal dollars to provide capital to innovation-based, knowledge-driven companies to stimulate growth and job creation.
To read the full, original article click on this link: GoLocalProv | Business & Real Estate | Providence Wants to be “Startup Incubator”
