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Betaspring-- Providence’s own business accelerator program-- recently debuted it seventh class of entrepreneurs at the Betaspring headquarters. The accelerator program puts founders through an intensive business boot camps, including honing business plans, meeting with customers and investors, and learning entrepreneurship and other mentoring.

READ: "Betaspring debuts seventh-season cohort at fall open house" by PBN

This years group included Momba, which develops customized vending machines to provide tenants of large-scale residences such as college dorms with easy access to the items they need most. Think Redbox for necessities. Momba already has four universities as clients and is in talks with 15 more.

Some of the other companies include:
  • Accessibility Now – A Web-based platform that offers an instant and simple tool to ensure any website is fully accessible to the one in five Americans who have special needs like hearing or visual impairments.

  • Achievery – A global platform for recognizing and verifying new and emerging skills, standards, and credentials. Using Achievery, people and organizations can make, manage and earn verifiable digital certificates and badges.

  • Quitbit – The world’s first internet-enabled, battery-operated lighter that seamlessly tracks smoking and guides users through a smoking reduction process.

Through its previous sessions, Betaspring has accelerated 83 companies and raised $27 million in follow-on funding from its alumni.

What does this mean for Rhode Island? Elements within Rhode Island and Providence are working hard to create a culture of entrepreneurship. There’s more work to be done, but with it’s proximity to Boston, New York and lower cost of living we think Providence is ripe to to make a business resurgence.

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Jim DeRentis
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