PROVIDENCE – Citing declining revenue since the onset of the COVID-19 pandemic, the Tech Collective on Friday said it is shutting down at the end of the year.
“The pandemic dramatically reduced the Tech Collective’s revenue from in-person trainings, forums, and networking events,” the board of directors said in a statement. “With the reduction of these activities, membership and sponsorship revenue also dropped to a point where the Tech Collective is no longer sustainable.”
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The last day for the nonprofit’s four-person staff will be Dec. 10, and the organization will cease operations on Dec. 31.
Though the organization shifted its programming to virtual events, these remote options weren’t financially viable, said Joe Devine, vice chairman of the board of directors.
“We did adapt to doing things online, but that was difficult to charge for,” Devine said, “so a big part of our revenue stream stopped when COVID hit.”
The nonprofit ceased its in-person events when COVID-19 hit in March 2020 and held all of its programming virtually until Dec. 1, when it hosted its Tech10 awards.
“We had over 150 people show up for that, and it really was a testament that people were supporting the Tech Collective,” Devine said, “but it was also hard to get businesses who were having a tough time during COVID to continue to support us as members with sponsorship dollars.”
The Tech Collective started in the mid-1990s as the RI Software Association, later becoming the RI Tech Council. In 2004, the nonprofit rebranded as the Tech Collective.
The Tech Collective held training sessions, networking events and other advancement programs for businesses and organizations in the technology community. In 2019, the nonprofit hosted over 75 education programs and hosted 2,500 attendees.
The organization is working to continue some of its most successful programming through other nonprofits, according to Devine.
“This is a group that meant a lot to me, and a lot of people put a lot of time and passion into this organization,” Devine said. “We were doing really well when COVID hit, so it’s unfortunate that it happened when it did … just when we were starting to get the companies excited about this.”
(UPDATES throughout with detail and comment.)
Perhaps the Tech Coll should team up with one of the local colleges, NEIT or OSHEAN.