Rhode Island Launches New Program to Cover Lab and Office Costs for Up to Eight Life Science Startups

Founders Compass awards cover lab bench and office space at Ocean State Labs for 12 months — with the equipment and support to carry a discovery forward

Companies may apply from anywhere in the country. Applications open August 24 and close September 24

PROVIDENCE, R.I., Aug. 25, 2026 /PRNewswire/ -- For an early-stage life science company, the hardest part often isn't the discovery. It's finding a place to develop it — a lab, the equipment, and the right environment to realize it.

Today the Rhode Island Life Science Hub (RILSH) announced the Founders Compass Program, offered in partnership with Portal Innovations — the first Rhode Island program to pay for laboratory space directly on behalf of early-stage companies to help accelerate them through the early stages of scientific development. It is open to founders and researchers across the United States and beyond.

Founders Compass will place up to eight companies at Ocean State Labs, the state's first dedicated life science incubator. Each selected company receives up to two wet lab benches and a dedicated desk, at no cost for 12 months. Portal Innovations, which operates the incubator, provides the laboratory infrastructure, equipment, programming, access to capital, a global network of resources, and advisor support behind the residency. RILSH has committed $250,000 to the program to support up to 8 companies and their early-stage research and development.

What Founders Compass provides

• Rent-free lab and office space. Up to two wet lab benches and one dedicated desk at Ocean State Labs, at no cost for 12 months.
  
  
• Access to shared facilities and specialized equipment.
  
  
• Advisors and community. Advisor support throughout the residency, educational programming, and access to a growing community of founders, scientists, investors, and industry leaders — including Portal Innovations' network of sites in Chicago, Providence, New Brunswick, and Salt Lake City (opening in 2027).
  
  
• Open to founders anywhere. Companies may apply from any state or from abroad; what is required is a commitment to operate in Rhode Island.
  
  
• Up to eight companies, selected from a total RILSH commitment of $250,000.

"Early-stage companies need a place to advance their work — access to lab space, specialized equipment, and expertise – resources that are difficult for a young company to build on its own," said Bob Cormier, President and CEO of the Rhode Island Life Science Hub. "Founders Compass helps lower those barriers so promising companies can focus on advancing their science. Our goal is to make it easier for good science to move forward — and for companies to build their future here in Rhode Island."

Applications open August 24, 2026 and close September 24, 2026, with awards announced approximately four weeks later. Applications are evaluated against published criteria: scientific and technical merit, commercial potential, team strength, residency readiness, financial readiness, and impact in Rhode Island. Each recipient commits to establish, maintain, or expand its operations in Rhode Island for the term of the award.

Open to founders anywhere

Founders Compass is not limited to companies already based in Rhode Island. Researchers and founders across the United States and internationally are eligible to apply. The requirement is not where a company starts — it is a commitment to establish, maintain, or expand operations in Rhode Island for the term of the award.

That path is already well traveled. RILSH's portfolio includes companies that have relocated to Rhode Island from California, Connecticut, Massachusetts, and Ireland to build here.

"If you're a researcher with a discovery and nowhere to develop it, we want you to look at Rhode Island," Cormier said. "You don't have to be from here. You have to want to build here."

The space

Ocean State Labs opened in May 2026 at 150 Richmond Street as Rhode Island's first dedicated life science incubator, with fully equipped laboratory facilities built for up to 30 companies. It sits in the heart of Providence's Innovation District, in a building with additional purpose-built laboratory and office space for companies ready to grow beyond the incubator — so a company can start at a single bench, prove its science, and scale without ever changing addresses.

"Access to affordable, ready-to-use lab space can be a significant hurdle for an early-stage life science company," said Glenn Robertelli, Executive Director of RI Bio. "Founders Compass adds an important resource to Rhode Island's growing ecosystem by giving companies a place to work, connect with other founders and industry leaders, and establish a foothold here. It gives entrepreneurs another compelling reason to look at Rhode Island as a place to build."

Take a look at Ocean State Labs drone video fly-through here.

Who is eligible

The program is open to early-stage, for-profit companies working in biotechnology, therapeutics, diagnostics, medical devices, biomanufacturing, genomics, cell and gene therapy, research tools, and other regulated human health technologies. Applicants must have at least one full-time founder or employee, have raised no more than $5 million in dilutive capital, have generated less than $1 million in revenue over the preceding 12 months, conduct work at BSL-1 or BSL-2, and be committed to establishing or expanding operations in Rhode Island.

Applications and full eligibility criteria are available at www.rilifescience.com/founders-compass.

About Ocean State Labs

Ocean State Labs is Rhode Island's first dedicated life science incubator, located at 150 Richmond Street in the heart of 195 District - Providence's Innovation District. It is operated by Portal Innovations.

About Portal Innovations

Portal Innovations builds life science ecosystems in emerging biotech markets, providing early-stage capital, fully equipped laboratory space, and operational support to scientists and entrepreneurs turning breakthroughs into businesses. Portal operates five sites — two in Chicago, Providence, New Brunswick, and Salt Lake City (opening in 2027) — comprising more than 110,000 square feet of lab and office space and more than $12 million in laboratory equipment, serving a community of over 500 members. For more information, visit www.portalinnovations.com.

About RI Bio

RI Bio is the professional trade association and hub for the life sciences in the greater Rhode Island area, with a mission to grow the life sciences economy in Rhode Island and Southeastern New England. RI Bio advances the industry and its professionals through education, collaboration, and advocacy — sharing information and resources, providing access to capital, and creating industry connections. For more information, visit www.ri-bio.org.

About the Rhode Island Life Science Hub

The Rhode Island Life Science Hub (RILSH) is a quasi-public state entity working to grow and serve Rhode Island's life-science community — investing in, coordinating, and connecting academia, industry, clinical care, and capital to translate innovation into economic growth and improved health. Its vision is a Rhode Island recognized as a global life-science leader — a destination where companies from anywhere can build and grow, and where discovery becomes better health for people everywhere. As the state's central coordinating organization for life sciences, RILSH is a gateway into Rhode Island's research institutions, health systems, and talent — bringing companies and partners together to advance medical and scientific breakthroughs. For more information, please visit www.rilifescience.com.

Media contact:

RILSH
Sarah Sutton
[email protected]
(518) 932-3580

SOURCE Rhode Island Life Science Hub