Diane St. Laurent

 / PBN PHOTO/RUPERT WHITELEY
/ PBN PHOTO/RUPERT WHITELEY

What are the biggest hurdles to starting a business in Rhode Island?

For entrepreneurs, it’s always difficult to fund a startup … but, Rhode Island has done a really good job building the right ecosystem so young entrepreneurs can gain access to funding and mentorships through incubators. … For any entrepreneur, the difficulty is [also] being able to access the information they need to … launch their business legally.

Does Rhode Island have the resources to help companies develop innovative products and services?

There is a lot of great talent that can do a great deal of things for the state – we are an absolute resource pool for innovation.

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Colleges and universities are doing a much better job brining experience to young graduates, but at the same time businesses recognize they need these types of skills and need a different type of culture to produce the innovative results they’re looking for.

What industry offers the greatest potential for growth through innovation in R.I. and why?

It’s not insulated to one industry. … Every industry that needs to ensure its long-term survival has to innovate. [They] are looking at three categories of innovation: business model innovation, product innovation and process innovation.

What would you consider the definition of entrepreneurial success in Rhode Island?

An entrepreneur is someone who has extraordinary skills, is perceptive of what’s around them and is able to learn quickly, make decisions and alter their direction based upon their learning. An entrepreneur who is able to do that well, will do well in the state and elsewhere.

How does URI embrace the small size of the state, especially in light of the brain drain?

When we develop these types of skills in young professionals, we want them to stay here. How we create that synergy is an extensive experiential component. … We build bridges with local companies, giving our students the opportunity to be placed in the local job market.

In light of the small talent pool in the state, is it necessary for Rhode Island companies to have multistate presences in order to sustain themselves?

From an innovation standpoint, I think we have a pool smaller than most states, but it’s hard to answer that question because we have a pool of young, talented designers from Rhode Island’s schools. If they’re looking for highly qualified, innovative-type skill sets, we have that in Rhode Island.

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