At the center of that community is Lighthouse Labs, a startup accelerator that was recently ranked as a top 25 accelerator in the U.S. by Seed Accelerator Rankings. Lighthouse Labs has not only helped Richmond startups build sustainable high growth businesses, they have built a network of mentors and companies who contribute to the startup community and provide invaluable resources to startup founders. One of those mentors is Jyot Singh, founder and CEO of RTS Labs. Jyot spends a lot of time contributing to the startup community. Fenris Digital, a platform that automates and streamlines the insurance quoting process by using big data and AI technology, is a company who has benefitted from the startup community in Richmond. Fenris was founded by insurance industry veteran Jennifer Linton. Jennifer identified a major problem in the industry, that the 35 year old legacy systems being used were outdated. She set out to disrupt the world of insurance and found a technology partner in RTS Labs. Jennifer knew that they needed a prototype to pitch to potential investors and clients. She had a vision of what she wanted the product to look like but didn’t have the technical expertise to build it. Jennifer was able to sell her product more confidently and get immediate feedback with a prototype in hand. Fenris also went through the Lighthouse Labs program. Jennifer said the program helped them hone their business plan but also put them in touch with a community of mentors and businesses who were able to help them along the way. Blue Ocean Brain, a micro-learning program for businesses, is another Richmond startup turned high growth company who went through the Lighthouse Labs program. They now work with major companies like Gap, ADT, Virginia Credit Union, Rutgers University and Medstar Health (to name a few). Richmond continues to put itself on the map for the food and beer culture that has been growing in the city. But there’s more to Richmond than food and beer. There’s a startup community growing that is attracting founders and adding to Richmond’s repertoire of innovative businesses. Programs like Lighthouse Labs, The Annex Startup Incubator, CoStarters RVA, and VCU Innovate have been helping founders take great ideas and build sustainable businesses that help our city grow. This is what fuels a healthy startup community, one that Richmond should be proud of. Read more about startups coming out of Virginia at TechCo
