When RIoT first came to fruition, the late Larry Steffann had big dreams for the impact that could be made with the organization. This not only holds true to the philosophy of completely free and open to the public events, so that people from all walks of life may attend and participate, but also for the RIoT Accelerator Program (RAP).
Since its creation in 2018, RAP has supported 76 startups, who have collectively created 216 jobs, and have a total lifetime revenue of over $106 million dollars. RAP was, and still is, a no cost and zero equity program. As we move into the beginning of our 10th RAP cohort, we are reflecting on where we began, what we have learned, and where we are headed.
The past 10 cohorts have been filled with excitement and intrigue – to further our learning of the new technology and ideas that these startups are developing at a rapid pace. We have seen medical devices, SaaS models, sensors for water monitoring, pet cremation, and e-commerce sites – just to name a few. From starting the first cohort in Raleigh, NC, we have now expanded to Wilson, NC and Stafford, VA.
By broadening our regional scope, we are able to help more startups and contribute to the economic growth in these regions. While our primary focus has been in the regions listed above, we support startups all over the globe – from Nigeria to Cape Town. We have the pleasure of working with a range of companies – from corporate teams on evolving existing company projects, to municipalities looking to ideate on new community engagement proposals.
We have learned just as much as we have taught since beginning this journey in 2018, and will continue to learn from every single startup that we work with. As we launch our 10th cohort on February 16th, our hope is that Larry would be proud of the legacy he created. We look forward to celebrating the kick off – always remembering that keeping a RIoT under control ain’t easy!