State launches new Innovation & Research for Industry Success Grant Program
Known as IRIS, it is designed to enhance and facilitate partnerships between private industry and the state’s leading research institutions.
The Tennessee Department of Economic and Community Development (TNECD) announced on Tuesday the launch of the Innovation & Research for Industry Success (IRIS) Grant Program.
IRIS funding, which aims to enhance and facilitate partnerships between private industry and the state’s leading research institutions, was in Governor Bill Lee’s recommended FY2026 budget for TNECD and approved this spring by the Tennessee General Assembly. These dollars are included in the $63 million allocated in this year’s budget for innovation-related initiatives and represent the largest investment in innovation in Tennessee’s history.
“Tennessee is a top contributor to our nation’s economy because of our willingness to adapt and welcome emerging industries,” said Gov. Lee. “The IRIS Grant Program is part of a historic investment in strategic economic development grants, and I thank the General Assembly for their partnership in signaling that the Volunteer State is the new frontier for America’s greatest innovators.”
The grant program will allow TNECD to encourage companies to pilot innovative technologies and pursue new discoveries within the state, which, in turn, will facilitate collaborations that highlight the strength of Tennessee’s research capabilities and foster long-term corporate investment in the state’s innovation ecosystem.
“We have been intentional in our efforts to promote new research and innovation across the state, beginning with the launch of the Transportation Network Growth Opportunity (TNGO) initiative in 2023, and today, with the announcement of IRIS,” said TNECD Commissioner Stuart C. McWhorter. “TNGO specifically focused on challenges in the mobility sector, and we are now launching the next step in our innovation strategy to spur collaboration between Tennessee-based companies and our state’s leading research institutions.”
Today, Tennessee is home to some of the most well-known companies and brands across the globe; however, the state is lagging when it comes to corporate research and development expenditures. The IRIS grant program represents the next step in the state’s innovation efforts to demonstrate that Tennessee is a great place for companies to research, test and build for the future right here in their own backyard.
As of July 1, applications for the inaugural round of IRIS funding are open and will be reviewed on a rolling basis.
Activities must involve collaboration between a company and research institution(s) aimed at developing new products, processes or technologies that support business growth or innovation. Activities should be investigative or experimental in nature, with a clear objective to advance technical knowledge or solve industry-specific challenges.
For program guidelines, visit here, and to apply, click here. Any questions or assistance identifying a research partner can be directed to IRIS@tn.gov.
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