ANN ARBOR, Mich., April 7, 2021 /PRNewswire-PRWeb/ -- Ripple Science is being recognized as one of the 2021 awardees for the Michigan 50 Companies to Watch award, presented by Michigan Celebrates Small Business. Ripple Science will be honored at an awards ceremony during the 17th annual Michigan Celebrates Small Business gala event, July 20.
Ripple Science is an emerging innovative Saas and fast growing eClinical company dedicated to accelerating clinical trials through improved patient recruitment and retention. By adapting marketing and sales automation techniques to patient engagement Ripple speeds the enrollment process while reducing participant drop out rates. With consistently ever-growing communication tools and collaboration features, users are given the opportunity to upgrade functionalities at any time. Ripple's research site teams achieve on average >96 percent patient retention.
"It's a real honor to be recognized by the Michigan business community following a very competitive review. The team and our investors remain focused on building value, delighting our customers, and contributing to the economy in Michigan," commented Peter Falzon, Ripple Science President and CEO.
This year's Michigan 50 Companies to Watch have made a substantial economic impact, totaling $365 million in total annual revenue for 2019. From 2016 through 2019, these companies generated $1 billion in revenue and added 723 employees (both in Michigan and out of state), reflecting a 101.9% increase in revenue and 93.8% increase in jobs for the four-year period. That translates into a 26.9% annual revenue growth and 24.8% annual growth in employees.
"Michigan's small businesses are the lifeblood of our local economies and play a vital role in making our communities attractive places to live, work, visit and play," said Josh Hundt, Chief Business Development Officer for the Michigan Economic Development Corporation. "As the state continues to recover from the COVID-19 outbreak, we are honored to recognize and celebrate these small businesses, which demonstrate the resilience, innovation and grit that sets Michigan apart."
Companies nominated for the Michigan 50 Companies to Watch award must be second-stage companies, defined as having six to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants. Additionally, the companies must be privately held and headquartered in Michigan.
Judges from economic and entrepreneurship development organizations selected the 2020 winners. The judges evaluated the nominees' demonstration of intent and capacity to grow based on the following:
Employee or sales growth
Exceptional entrepreneurial leadership
Sustainable competitive advantage
Other notable factors that showcase the company's success
Michigan Celebrates received 575 nominations for the Michigan 50 Companies to Watch award, which surpassed last year's record of 425 nominations. In addition to a competitive landscape for this award, the businesses who are selected by the judges go through a rigorous due diligence process prior to the final decision.
Ripple Science accelerates clinical research with its secure, HIPAA-compliant suite of tools. By adapting sales and marketing automation to the process of patient recruitment, Ripple helps our customers recruit more participants, faster and reduces patients lost to follow-up.
Ripple Science's flagship product, Ripple, is currently being used by research investigators at more than 100 academic and research centers around the world, including Johns Hopkins University, Pennsylvania State University, University of California Los Angeles, the Brain Research Foundation Canada, University of East Anglia (UK), Cognito Therapeutics (Boston, MA) and the University of Michigan.
To learn more, please visit: https://www.ripplescience.com
Michigan Celebrates Small Business (MCSB) is a collaboration of trusted statewide founding organizations who offer resources for small businesses. Since 2005, Michigan Celebrates Small Business awards gala has placed a spotlight on how small businesses positively impact our communities and state. The MCSB organization is focused on supporting, promoting and celebrating small businesses in Michigan.
The Manufacturing Growth Alliance is the Managing Partner of Michigan Celebrates Small Business. Founding sponsors are the Michigan Economic Development Corporation, PNC Bank, AF Group, and Dynamic Edge, Inc.
Information about Michigan Celebrates Small Business can be found at http://www.MichiganCelebrates.org.
Media Contact Information:
Anna Falzon Digital Marketing & Research Specialist
Anna Falzon, Ripple Science, +1 734-644-4282, [email protected]
Peter Falzon, Ripple Science, 415-377-2390, [email protected]
SOURCE Ripple Science