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NEW DIGS: ­Christopher Savoie, left, a co-founder and executive director of Ensemble Biosystems Inc., checks in on a lab technician in the new Ocean State Labs startup incubator in Providence. The company is also using a bioreactor in the space for pharmaceutical synthesis. 
PBN PHOTO/
STEPHANIE BERNABA

THE RIGHT FORMULA? R.I.’s life sciences sector takes shape, but growth...

In 2023, the General Assembly made its biggest bet yet on Rhode Island’s life sciences industry. Lawmakers committed $45 million over three years to create...
A REVIVAL: Dr. Annie 
De Groot’s cancer vaccine development company in Providence was dormant for several years, but it’s been restarted at an opportune time, when the favorable results of a related clinical trial have given the sector a boost. 
PBN PHOTO/­MICHAEL SALERNO

Cancer vaccine startup comes back to life

In 2016, Dr. Annie De Groot received a cry for help. A scientific researcher, De Groot had worked for decades on computational vaccinology – the...
NEW DIGS: The 30,000-square-foot Ocean Sate Labs is located on the fourth floor of 150 Richmond St., Providence. The new building in the 195 District also houses the R.I. Department of Health laboratory. 
PBN PHOTO/WILLIAM HAMILTON 

Lab space could be a big draw

Rhode Island has gone all in on life sciences, but it still remains to be seen whether the millions of dollars of investment will...
TAKING OFF: Flux Marine Ltd. CEO Ben Sorkin, left, pictured with engineer Milo Ferrazzoli in 2022, has raised more than $30 million from investors. 
PBN FILE PHOTO/­ELIZABETH GRAHAM

An R.I. success story worth reinvesting in

Investment capital can still be tough to find for startups looking to stay in Rhode Island. But imagine the last 25 years without the...
TEST SUBJECT: Justin Sirotin, left, co-founder of Octo Product Development Inc., shows U.S. Sen. Jack Reed a mockup of a cockpit used by Regent Craft Inc. at Octo’s design lab in Providence. Regent is developing 12-passenger seagliders at its North Kingstown headquarters. 
COURTESY OCTO PRODUCT DEVELOPMENT INC.

Rhode Island driving innovation by turning tech into product

Inside Octo Product Development Inc.’s Providence design lab, designers are busy building early versions of technologies that could reshape maritime travel, from all-electric seagliders...
Lei ­“Jeremy” 
Xu

The entrenched venture capital gender gap

Venture capital plays an important role in helping new businesses get off the ground. The field also has a stubborn gender gap. More than 4...
MONEY TALKS: Toby Stapleton, left, director of Newport-based Blue Venture Forum, speaks with Erin Donovan-Boyle, CEO and president of the Greater Newport Chamber of Commerce, at Innovate Newport. Stapleton says many blue and green tech startups have been avoiding a funding crunch that other new ventures are facing at the moment. 
PBN PHOTO/KATE WHITNEY LUCEY

Blue and green startups avoiding funding crunch

Over the past year, declining investments, layoffs and uncertainty about the future have plagued tech companies throughout the U.S. And while tech giants such...
Thorne Sparkman

Thorne Sparkman

Thorne Sparkman is constantly on the hunt. His quarry? Entrepreneurs with transformational ideas in areas such as health care and energy and the grit to...

George Cobleigh Joins CBIZ as Managing Director

George Cobleigh joined CBIZ as a Tax Managing Director in our Private Equity/Venture Capital Group and works out of both the Providence, RI and...

How the GA-backed investment fund works

This is how the Small Business Development Fund, as approved by the General Assembly, would work: The state would issue up to $42 million in...
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