PROVIDENCE – (April 24, 2025) – A safe and dependable external male urinary catheter using the innovative biaxial braiding adhesive called the KT Cath was announced the winner of the 2025 Rhode Island Business Competition. Katelyn Holt, Founder of KOLT INNOVATIONS, INC., was one of the three finalists who competed against over 30 applicants for awards totaling over $70,000 in cash and prizes. The awards ceremony was held at CIC.

In a joint statement, RIBC Co-Chairs Meaghan Krupa, Partner at Hinckley Allen, and Anthony Mangiarelli, Partner at KLR, noted "We are so excited to showcase these businesses tonight. We had 34 applicants this year which has been a steady rise in the number of people applying since Covid which is amazing. Each year the quality of the candidates improves, which makes the judges’ decisions that much harder. It is important for us now to celebrate the dedication and hard work of these talented entrepreneurs, and we look forward to seeing them continuing to succeed." 

The following are the other two finalists for this year's Competition:

Crewless Marine has produced a monitoring capability on uncrewed platforms to form a resilient underwater sensing network to detect and localize threats.
Principal applicants: Philip Casper and Steve Bordonaro

HyperCup is a device that uses hydration and hyperthermia to kill the HPV virus and eliminate an associated wart lesion. 
Principal applicant: Mitt Coats

Serving as judges for this year are:

• Kim Anderson at Plant City and Eversource
• Bob Chatham, Director at Slater Technology Fund
• Meaghan Krupa, Partner at Hinckley Allen
• Anthony Mangiarelli, Partner at KLR
• Aidan Petrie, Founding Partner of the New England Medical Innovation Center (NEMIC)
• Jennifer Rousseau, Assistant Vice President of Strategic Initiatives at Delta Dental of RI
• Annette Tonti, Managing Director at RIHub

The prizes consisting of cash and in-kind services are provided by dozens of sponsors, including banks, investors, colleges and universities, professional services firms, non-profits, construction, health related, software, retail, and other businesses as well as former competitors.

Sponsors of the 2025 Rhode Island Business Competition

Pillar sponsors are Bryant University and Everhope Foundation. Other lead sponsors include Envision Technology Advisors, Hinckley Allen, KLR, and Sprout Coworking.

Also sponsoring are Beacon Mutual Insurance Company, FM Global, and Greater Providence Chamber of Commerce.

Additional sponsors include Bank Rhode Island, Bristol County Savings Bank, Business Development Company, Delta Dental of Rhode Island, Dimeo Construction Company, Navigant Credit Union, Peter George, Slater Technology Fund, Social Enterprise Greenhouse, Washington Trust, BankNewport, Blount Fine Foods, Brain for Rent, CBC Wind Energy, Goldman Sachs 10,000 Small Businesses at CCRI, Hope Global, Papitto Opportunities Connection, Commerce RI, and Roger Williams University. Our growth partners are New England Medical Innovation Center, RIHub, and CIC.

The Rhode Island Business Competition fosters development of companies by inviting emerging and established entrepreneurs to submit ideas for a business, in any industry, that is based in Rhode Island and has strong growth potential. The most promising ideas will receive cash and services. The Competition is supported by a broad range of sponsors that include private businesses, investors, foundations, colleges and universities, public entities, nonprofit organizations, and former competitors. Today, we are one of the leading community-supported business competitions in the Northeast.