Polaris MEP’s Manufacturing Innovation Challenge will start accepting applications for its next cohort on Aug. 24, with an event overviewing the program on Aug. 23.
The company is a Providence-based division of the University of Rhode Island's Research Foundation, and it's funded by the National Institute of Standards and Technology. Ultimately, it works to help in-state manufacturers work towards sustainable growth via innovation and operations that are considered cost-efficient.
Its Manufacturing Innovation Challenge was a 2015-born initiative thanks to a funding partnership between the U.S. Office of Economic Adjustment and the Rhode Island Commerce Corporation. By matching participating companies with subject matter experts, said organizations are able to identify its maturity level in eight different categories, which is then covered in a report on the company.
These maturity levels also correspond with insights and recommendations to help the company grow. In fact, the 29 previous Manufacturing Innovation Challenge participating companies have reported that the implementation of these recommendations "recognized or projected a cumulative return on investment of 14:1," a press release on the program stated.
“It’s an opportunity for companies that are interested in fresh perspective and setting a course toward the future," Manufacturing Innovation Challenge at Polaris MEP Mary Johnson added.
Interested applicants can apply via the Rhode Island manufacturers website. After a review process, Johnson and "a team of private-sector consultants who specialize in manufacturing and are experts in strategy, marketing, design, engineering, operations and organizational leadership" will deliver the challenge to up to 10 companies.
Those interested in learning more about the program can attend the launch event at Foolproof Brewing in Pawtucket. The presentation, which begins at 5:30 p.m., includes insights from previous challengers and the leadership team. Register here.
