Call us: 1.405.235.2305
info@i2E.org
  • Events
  • News
  • Resources
  • Library
  • Love’s Cup
i2Ei2Ei2Ei2E
  • About
  • Entrepreneurship
    • Venture Advisory Services
    • Love’s Entrepreneur’s Cup
  • e3
  • Concept Fund
  • iMCI
  • Portfolio
  • Contact

Seeking new paths to grow Oklahoma’s companies, economy

Seeking new paths to grow Oklahoma’s companies, economy

By zach | News | Comments are Closed | 1 November, 2016 | 0

Seeking new paths to grow Oklahoma’s companies, economy
By Scott Meacham
Copyright © 2016, The Oklahoma Publishing Company

I’ve written more than once this year about how budget cuts and resource tradeoffs at the state legislature can put the innovation economy of Oklahoma at risk. I don’t like it, but I do understand the challenges. This state is always going to have to reconcile times of boom and bust until we reduce our collective dependence on oil and gas.

We need investment from the state, but we also need creative participation from everybody else. There are Oklahoma corporations, initiatives, and people who get that and are doing something.

One such business is Kimray, Inc., a world-class manufacturer of control equipment used extensively in oil and gas production around the globe. Kimray has been around for about 70 years; the firm is the gold standard in the oil industry when it comes to control equipment.

About 18 months ago, executive leadership at Kimray set forth a goal to become a billion-dollar company by 2030. They plan to continue with their traditional business aggressively, and to double the size of the company by creating another $500MM in revenue from “something else.”

“That was the beginning of us being different,” said Matt Palmer, Kimray director of mergers and acquisitions. “The downturn in oil and gas expedited the conversation. We are not moving away from the oil and gas part of our business, we are adding to it.”

Kimray is looking at new strategic partnerships, unexpected applications of technology, mergers and acquisitions, and, not only opportunities beyond oil and gas, but even beyond manufacturing.

“It requires people to think way outside of what we are used to,” Palmer said. “We are empowering our people to think about what we don’t know, to step into new possibilities and wander into new options.”

Palmer said that he expected it would take a while to get real possibilities to review, but it’s been a lot shorter than he expected. “Once we decided to take this leap, that we wanted to diversify, we shared that story with partnerships in the industry. It’s amazing how fast the opportunity has come.”

There’s something absolutely thrilling about an existing company like Kimray that’s been around for a long time, doing great work challenging its leaders to dream up additional options, to wonder what is possible, and then go after it.

Kimray is a remarkable example of a well-established industry leader adapting to a new era by engaging people and ideas within the organization.

Each of us—every person, every corporation, every elected official and public employee—should be asking ourselves, what can I do to help my department, my company, or the broader innovation economy of Oklahoma diversify and grow?

Did You Know:
The 2016 rate of new entrepreneurs in the U.S. is 330 of every 100,000 adults. That’s about a 15% increase over the last two years.

Read the story at The Oklahoman. (Requires subscription)

Scott Meacham is president and CEO of i2E Inc., a nonprofit corporation that mentors many of the state’s technology-based startup companies. i2E receives state appropriations from the Oklahoma Center for the Advancement of Science and Technology and is an integral part of Oklahoma’s Innovation Model. Contact Meacham at i2E_Comments@i2E.org.

Best Practices, entrepreneurship, executive leadership, i2E, Kimray, new strategic partnerships, Oklahoma manufacturer, Scott article

i2E-300dpi-Trans-Light
  • Events
  • News
  • Resources
  • Library
  • Love’s Cup

Oklahoma City Office

840 Research Parkway, Suite 250
OKC, OK 73104
PHONE 405/235-2305
Click HERE for printable map with directions.

Tulsa Office

618 E. Third Street, Suite 1
Tulsa, OK 74120
PHONE 918/582-5592
Click HERE for printable map with directions.
Copyright 2021 i2E, Inc. | All Rights Reserved
  • #withOklahomaStartups
  • #withOklahomaStartups
  • #withOklahomaStartups- copy
  • 2016 BrewFest
  • 2018 Paulsen Award Application
  • 2019 Business Plan Submittal Form
  • 2019 Intent to Compete
  • 2019 Oral Competition Submittal Form
  • 2019 Paulsen Award Application
  • 2020 Business Plan Submittal Form
  • 2020 Oral Competition Submittal Form
  • 2020 Paulsen Award Application
  • 2021 Official Application Form
  • 2021 Oral Competition Submittal Form
  • 2021 Paulsen Award Application
  • 4DSales
  • About
  • About i2E
  • About Us
  • ACT Tulsa
  • Add Listing
  • Alkami
  • Biolytx
  • BP Endo
  • Clear River Enviro
  • Concept Fund
  • Contact
  • COVID-19 News from i2E
  • COVID19 Resources for Scalable Startups
  • CreditPoint
  • Datebox
  • DermaMedics
  • DEX Pump
  • DigitalSix
  • Directory
  • Directory Dashboard
  • Docvia
  • Driven Analytics
  • e3
  • e3 Goes Virtual
  • e3: #withOklahomaStartups
  • Entrepreneurial Development
  • Entrepreneurial Summit
  • Entrepreneurial Summit Speakers
  • Entrepreneurs-in-Residence
  • Entrepreneurship
  • Events
  • Events
  • Exaptive
  • Exerbotics
  • Expert TA
  • Founder’s Book Nook
  • Home
  • Home
  • i2E Directory
  • i2E Events
  • iMCI
  • iMCI Investment Funds
  • Investments
  • iRecommend
  • Kirrhos
  • Letter from iMCI’s Executive in Residence in a time of great uncertainty
  • Library
  • Lifetone
  • Linear Health Sciences
  • Love’s Cup
    • Forms
    • High Growth
    • Paulsen Awards
    • Small Business
    • Timeline
  • Love’s Cup is Unstoppable
  • Love’s Cup W-9
  • MaxQ
  • Moleculera Labs
  • Monscierge
  • MS Pen Technologies
  • My Account
  • News
  • Newsletter
  • Newsletter Archive
  • OKBio
  • OKBio Directory
  • OMRF Glioblastoma
  • Otologics Pharmaceuticals
  • Past Winners
  • PhotoniCare
  • PolySkope Labs
  • Portfolio
  • Portfolio 3
  • Private Partners Opportunity Fund
  • Progentec Diagnostics
  • Q&A with Kevin Moore
  • Q&A with Michael Basch
  • Quarterly Report
  • Raw Space for Rent
  • Resources
  • Roll to Roll Technologies
  • Selexys Pharmaceuticals
  • Send a Ride
  • Simergent
  • Spiers New Technologies
  • Synercon Technologies
  • Tailwind
  • Ten Nine Technologies
  • Testimonials
  • Tetherex Pharmaceuticals
  • The Greg Main Distinguished Scholar Award
  • THG Energy Solutions
  • Thoughts from local business leaders and startup founders on the effects of COVID on their industry
  • Thoughts Post Shut In
  • Tulsa Collab: COVID-19 Efforts & Resources for Entrepreneurs
  • Tulsa GEW
  • Valve Systems International
  • Venture Advisory Services
  • Video
  • Virtuoso
  • Webmail Test Page
  • WeGoLook
  • Well Checked Systems
  • Whiteboard CRM
i2E