Annette Tonti | Managing director, RIHub
1. What is RIHub? RIHub is Rhode Island’s first “Innovation Campus.” Founded in 2019. … RIHub is a collaborative, inclusive, cross-sector partner for startups and investors in Rhode Island. We help turn ideas into startups and startups into scalable growth companies. We are an engine of growth for Rhode Island by connecting entrepreneurs, inventors, investors and corporate leaders.
2. How is RIHub different than other startup-focused organizations? RIHub is that “one-stop shop” for entrepreneurs building companies that can scale. RIHub is uniquely focused on enabling high-growth startups often associated with emerging technology and science. We make it a point to partner with all other organizations focused on innovation in our region to create a “network of solutions” necessary to help each entrepreneur with what they need most.
3. What is the biggest barrier facing entrepreneurs and startups in Rhode Island? As someone who has started three high-tech companies here, I know that our region lacks a mature ecosystem of professional investors. Capital is the oxygen that gives massively scaling businesses their early lift. We have great companies being founded here, but they often leave because investors in New York or San Francisco lure them away. We need to fix this.
4. How has the pandemic impacted plans to attract major international companies to Rhode Island? It feels strange to say that the pandemic is good for anything. However, it has driven us all online. Geography really doesn’t matter as much anymore, especially to entrepreneurs. Our aim is to make Rhode Island a geographic headquarters for startups in and outside of the U.S. Rhode Island has a unique offering for those interested in an East Coast location: easy access to the big metros at a far lower cost of living. … Weirdly, the pandemic is making our location smart: Great schools, a less-expensive lifestyle, fantastic food and beautiful beaches are benefits for entrepreneurs here.
5. How does your experience as a CEO of multiple companies inform your new role with RIHub? This experience taught me a great deal about the issues of building and scaling business here. As for building RIHub, a startup CEO needs to be comfortable wearing many hats and an expert at deciding priorities. Building RIHub’s offering during this first year of operation has been very much like building a startup.
Nancy Lavin is a PBN staff writer. Contact her at Lavin@PBN.com.
