RTS Labs, a software development company located in Henrico, was recently recognized by the Virginia Asian Chamber of Commerce (VACC) as the 2012 Emerging Business of the Year. RTS Labs owner and VACC member Jyot Singh says, "The VACC emerging company award that we won last year helped introduce RTS on a bigger stage." That could be something of an understatement.
The young upstart company is turning heads and getting attention in the Innsbrook area—in fact, RTS is no stranger to awards ceremonies. But Singh is quick to note that he also relishes client successes as his own. Last year, four of the five local businesses honored during the Richmond Venture Forum’s annual RVA Companies to Watch event were supported by RTS Labs at one point or another—including Ledbury, CarLotz, PlanG and Health Diagnostic Laboratory, a clinical laboratory that offers in-depth testing.
On the day we spoke with Singh, his company was once again in the spotlight, as just minutes before our interview he heard the news that RTS had been nominated as a finalist for the 18th Annual RichTech Technology Award. Not bad for a company that’s only three years old. And the company currently finds itself at the center of an interesting movement.
At the Nexus Between a Philosophical Shift and Startup Success
A young company itself, RTS Labs is focused on serving new and fast-growing businesses. It began in 2010, when, as reported in the Richmond Times-Dispatch article “Entrepreneurship and service recognized by the Virginia Asian Chamber of Commerce,” a late-night phone call from the chief information technology executive for Health Diagnostic Laboratory, Inc., changed Jyot Singh’s life. The company needed Singh’s expertise, and his experience with that project led him to create a business dedicated to helping startup businesses with their computer programming needs.
Singh explains, "We target startups and fast-growing companies because we have a proven model for multiple companies. We know what it takes to get them up and running. We know the pitfalls and how to prototype for success. We don’t build big ships first; we build small ships fast. If there is a chance for it to fail, I would rather know quickly." Today, the business is strategically located in the Innsbrook Office Park and has grown to a staff of 17 data architects, business and system analysts, software developers and business intelligence experts.
"The location could not be more ideal," says RTS Labs Account Manager Erin Brooks. "Innsbrook was a deliberate choice for us. We are not only located near people we want to network with, but we literally drive past our potential clients every day. Many of us live nearby, and I feel that it’s a vibrant, energetic place to grow our company."
The company is uniquely organized, with a very flat structure. There are no managers—everyone is self-motivated and self-managing. "They work independently and on multiple projects. This helps to keep the business agile," says Singh.
'We target startups and fast-growing companies because we have a proven model for multiple companies. We know what it takes to get them up and running. We know the pitfalls and how to prototype for success.' - Jyot Singh, Owner, RTS Labs
RTS works with financial, biotech, health care and retail companies, and most recently has begun pursuing business in the wholesale industry. In between award ceremonies and the numerous projects, Singh is determined to tackle impending "big data" issues that inevitably arise for medium and large businesses.
He explains, "We’ve been aligning ourselves with this new paradigm where data is growing at a very fast pace, and it is becoming very hard to manage using traditional methods. It becomes too hard to make sense out of it. Big data is a technology platform where you are able to manage terabytes of data quickly and gain insights to make business decisions."
"We have also created many predictive models combining huge volumes of data from many disparate sources. It’s a natural transition for us, as 50-60 percent of our revenues come from data projects—reporting, analytics, business intelligence and data management. It’s the next logical step."
When we asked what Singh is most excited about these days, we were surprised to hear that it’s not about his company’s accolades or growth, but about the business culture of the area. "I’m really excited about how the landscape of business in Richmond is changing. I feel like Richmond is now more open to start-up ideas—remarkably more in last two years. It’s because of organizations like New Richmond Ventures and the investment companies that are coming to the area.
They are helping to build a business community that realizes it’s not only about having big companies come to the area. It’s about changing the mindset of how people think about employment and where to invest, and it’s bringing great talent to the area." Singh is particularly proud of how RTS Labs is contributing to the excitement. "We feel we are at the nexus of that shift of thinking, and that we are contributing in a small way to the whole excitement that is happening right now because of the serious work we do with fast-growing startups like PlanG and HDL, Inc., for example. We also feel lucky we were with them at the right time."
Perhaps RTS Labs Account Manager Erin Brooks expressed it best: "I feel like we’ve arrived."
Is your company ready to arrive? Visit Henrico.com today to learn about the advantages of growing your business in Henrico County.
RTS Labs Offerings:
Web & Mobile Development
Client Portals & Intranets
Data Mining & Predictive Analytics
Data Visualization, Dashboard & Reporting