Innovation through diversity is a path to success for Oklahoma

  • November 22, 2016

Scott Meacham, NewsOK: 

As I’ve been writing for the last few weeks, there are many ways Oklahoma companies can engage to broaden and diversify the innovation economy of Oklahoma.

People are interested in startup companies. The technologies are cool. Entrepreneurs are engaging. And instinctively, most of us know that remarkable things can and do happen when a passionate person with a great idea and a sense of the market starts a new company.

I began this series with Kimray Inc., the world-class manufacturer of control equipment for the oil and gas industry. By any measure, Kimray is a great company, and it has been for a long time. The company posted a video this week on its website entitled “History Matters.” This video talks about how, starting back in 1948, Kimray revolutionized the gas pressure regulation industry with its back-pressure regulator.

Kimray has a stated goal of doubling in size to become a billion-dollar company, and the way its leaders plan to do that is by adding “something else.”

As the oil and gas industry was being squeezed these last few years and shrinking in overall development dollars, Kimray was investing, establishing the ultimate hedge against low commodity prices by creating a whole second side to the business that won’t necessarily be about gas and oil.

Thomas Hill, CEO of Kimray, has cast a vision of spinouts, acquisitions, strategic partnerships and new inventions; Kimray already has examples of diverse new businesses producing revenue in less than a couple of years.

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