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RIoT Awarded $500k EDA Grant to Launch Startup Accelerator Program


$500,000 Awarded to NC RIoT Accelerator Program for Disruptive Technology through the Economic Development Administration’s (EDA) Regional Innovation Strategies (RIS) programClick here for our media press release.

Anyone who has attended a RIoT has heard the question, “How many industrial revolutions have there been in our history?” The answer is three: mechanized production, electricity and the internet completely transformed how people live and work. Each resulted in significant quality of life improvement and enormous economic growth.

RIoT has been leading the charge into the 4th Industrial Revolution, the Internet of Things (IoT), since 2014. Yesterday RIoT was recognized for those efforts by the US Economic Development Administration’s (EDA) award of a three year, $500,000 grant to launch a new startup accelerator program. EDA is part of the Department of Commerce and since 2014 has been giving grants to organizations with a proven record of stirring economic growth.