Ocean State Labs Founders Compass Program
Ocean State Labs Founders Compass Program supports early-stage life sciences companies with laboratory space costs to advance research, development, and commercialization in Rhode Island.
This grant was recently updated
The funder removed the Founders Compass “Open for applications” notice, August 24–September 24, 2026 application period, and application link from its opportunities page. That listing was replaced by a general Rhode Island relocation inquiry form; the changed text does not explicitly announce the program’s closure.
Funder: Rhode Island Life Science Hub
Funding Amounts: Up to $250,000 across all cycles; support for up to two laboratory benches and one hot desk per company for 12 months
Summary: Supports early-stage life sciences companies establishing or expanding Rhode Island operations by offsetting laboratory space costs at Ocean State Labs.
Key Information: Applicants must be for-profit companies with no more than $5 million in dilutive capital and less than $1 million in preceding-year revenue.
Description
The Rhode Island Life Science Hub (RILSH) runs the Founders Compass Program in partnership with Ocean State Labs, powered by Portal Innovations. The program helps promising early-stage life sciences companies establish and expand operations in Rhode Island by offsetting laboratory space costs for research, development, and commercialization.
Support combines laboratory bench and hot desk access with shared facilities, equipment, infrastructure, and support services. Selected companies also receive advisor support throughout their residency and access to a collaborative innovation community, including networking and educational programming. Selection considers scientific and technical merit, commercial potential, team strength, readiness to use the facilities, Rhode Island impact, and financial readiness.
