RecoVend: Why Entrepreneurs are now Choosing Providence

By Sam Chafee
schafee@providenceri.com

Providence, RI-After working for an education startup company, Kyle B. Judah of RecoVend, found a void in the system and filled it. As a successful entrepreneur, he saw first-hand how inefficient it was for schools to find and purchase products and services for their operations, so he launched his own company, RecoVend, to fill that need.

RecoVend provides colleges and universities a free, online, collaborative purchasing platform, for a range of services and products, with everything from high-tech software such as "Learning Management," to cleaning supplies, toilet paper, and beds for dormitory rooms. RecoVend has lent its services out to 10 private and public institutions in Rhode Island, including Brown University, and the Rhode Island School for Design.

When asked what brought him to the city of Providence, the 28-year old, CEO, replied without hesitation, "Betaspring." Judah credits the twelve-week, intensive start-up accelerator program, run by internationally-renowned entrepreneur, Allan K. Tear, for much of his business's success.

"It was the best decision we ever made, personally, professionally," Judah said. "I've learned so much in the three months that we had Betaspring going on, it really felt like finishing school, you know?"

"I had four or five years of working experience after undergrad, but it (Betaspring) puts you right through the fire. By the time you come out, by the time Demo Day happens, you are ready, you are prepared to deal with any problem." Judah said.

Betaspring-under a special arrangement with the City's Providence Economic Development Partnership (PEDP) - provides graduates $50,000, if they agree to keep their business in Providence for 12 months after completing the program, and hire at least two full time equivalent positions. RecoVend is one of 24 Betaspring programs to be reaping this benefit, under this unique HUD-financed program. This equity investment initiative - known as the Innovation Investment Program (IIP)- was launched by Mayor Angel Taveras and the City's Providence Economic Development Program (PEDP), with the keen vision of how vital start-up accelerators are to the future business climate of the city.

For more information on the IIP visit www.providenceri.com/economic-development.

Sam Chafee is a Mayor's Fellow working this summer in the Mayor's Office of Communications and a rising senior at Roanoke College. This is the first in his series of columns about Providence business success stories.