As the smallest state, Rhode Island sometimes gets overshadowed by its bigger neighbors. But the tiny Ocean State has cultivated an outsized technology industry that‘s been driving economic growth and jobs over the past decade.
I‘ve dug into the data and companies powering this burgeoning sector. Ready to explore some Rhode Island tech pioneers with me?
Overview of Rhode Island‘s Tech Landscape
While old-guard manufacturers like jewelry and silverware vendors have traditionally dominated the state‘s economy, the technology industry has steadily expanded its footprint:
- Over 34,700 Rhode Islanders currently work in tech – a 30% jump since 2012
- The sector contributes over $3.7 billion yearly to the state‘s GDP – up from $2.8 billion in 2015
- Tech compromises 6.7% of Rhode Island‘s total economic output
The state government and organizations like the Tech Collective have focused recent initiatives on nurturing more homegrown startups. And clusters like cybersecurity, defense tech, cloud computing and fintech have seen rapid growth in both jobs and salaries over the past 5 years.
Let‘s check out some standout local innovators driving this new wave.
Voltserver – Powering the Future with Digital Energy
Founded in Rhode Island back in 2011, Voltserver made a splash by patenting Digital Energy Technology – an innovative way to safely transmit both electricity and data via the same copper cables. This could be a game-changer for bringing affordable power to remote and rugged areas.
| Year | Milestone |
|---|---|
| 2015 | Digital Energy Tech patented |
| 2017 | $2 million funding round |
| 2019 | Partnership with Army Research Lab |
| 2022 | 700+ global deployments |
The young startup also caught the eye of investors like the RI Commerce Corporation and established corporations like Schneider Electric. With over 60 employees now, Voltserver‘s already brought electricity to far-flung places from Africa villages to European ski resorts.
And they‘re just getting started…this Made-in-Rhode Island innovation could soon redefine energy distribution as we know it!
Kenzan Helps Businesses Soar with Custom Cloud Solutions
Operating out of Pawtucket since 2004, Kenzan assists organizations across healthcare, media, fintech and more to adopt cloud-based tools optimizing key objectives like:
- Increased efficiency
- Flexible scalability
- Enhanced data security
- Lower IT costs
- Omnichannel customer experience
The skilled 100+ person team specializes in end-to-end delivery – from migration to maintenance. They recently helped a healthcare provider securely transition its data and apps to the cloud, achieving HIPAA compliance and $4 million in annual savings!
Kenzan sets itself apart via strong tech partnerships with AWS, GCP and Azure coupled with deep roots in Rhode Island‘s thriving dev community. With innovative thinking and execution, this locally bred cloud expert empowers businesses to reach new heights!
Upserve‘s Smart Platform Helps Restaurants Thrive
Founded in 2009 right in Providence, Upserve has steadily built cutting-edge technologies assisting the food service sector. Their intuitive dashboard aggregates operational data from point-of-sale systems, payroll, inventory, marketing channels and more – providing managers with holistic visibility via easy-to-understand analytics.
Key Stats on Upserve‘s Growth
| Year | Restaurants Served | Annual Transactions |
|---|---|---|
| 2017 | 5,000 | 120 million |
| 2022 | 15,000 | 340 million |
Driving this growth is Upserve‘s ability to help venues boost productivity and profits by:
- Optimizing staffing needs
- Personalizing customer engagement
- Predicting inventory demand
- Uncovering profit leakage
The company leverages AI and ML to continuously improve recommendations. No wonder over 15,000 restaurants now use this smart platform designed specially to meet their needs!
Aeronova – Fueling Innovation in Aerospace
Headquartered in West Greenwich, publicly traded Astronova specializes in creating highly precise test instruments for the defense and aerospace sectors. Clients like Boeing, NASA and SpaceX rely on the 300+ person company‘s cutting-edge printing systems, detectors and sensors to iterate groundbreaking designs.
A few innovations that have fueled over 50 years of excellence:
- Patented technology that eliminates distorted light reflections in testing chambers
- Unique sensors enabling navigation systems to withstand extreme vibration
- Custom cameras approved for visual documentation on the International Space Station!
With $116 million in 2021 revenue and longstanding relationships with clients pushing boundaries, it‘s no wonder Aeronova is considered an anchor of Rhode Island‘s technology landscape.
Smart Home Leader Nortek Has Rhode Island Roots
Founded in Rhode Island back in 1967, Nortek has grown into a global smart home giant spanning residential security, home audio, advanced HVAC systems and more. Their products which range from internet-connected humidifiers to wireless garage controllers can now be found in 1 out of 6 new North American households annually!
Here‘s a snapshot of their last fiscal year:
|| Key Figure |
|-|-|
|Revenue| $2.5 billion |
| Countries Served | 14 plus |
|Employees | 7,500|
|R&D Investment | >$100 million per year |
Nortek also has over 50 patents and has won awards for having North America‘s Most Innovative Connected & Intelligent Home Devices. Talk about a local startup turned leader!
The examples above showcase how Rhode Island has nurtured globally impactful technology innovators across various sectors, despite its small size. With government and private sector initiatives continuing to boost high-growth areas like cybersecurity, cloud infrastructure and defense tech – I foresee more exciting success stories emerging from the Ocean State.
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