#StartupsEverywhere Profile: Keith Fix, Founder & CEO, Retail Aware
This profile is part of #StartupsEverywhere, an ongoing series highlighting startup leaders in ecosystems across the country. This interview has been edited for length, content, and clarity.
Changing the retail industry
Retail Aware helps brands, retailers, and their partners measure in-store product displays and shopper behavior data in real time. We talked to Founder and CEO Keith Fix about building a startup in the Midwest outside of a traditional tech hub, data privacy concerns, and the complex difficulties of immigration and visa issues for both startups and their employees.
Tell us about your background. What led you to create Retail Aware?
I grew up in Nebraska with a unique background, being a member of a Ponca Tribe and having Puerto Rican roots; I didn't quite fit the typical Nebraska mold. While attending the University of Nebraska, I ventured into entrepreneurship, starting a tech support business and a daily deal site. After winning a business plan competition, I received a $100k investment, which led to the founding of a digital signage integration business. This venture eventually scaled and sold the business in 2017. With my first sale under my belt I thought I’d take a break—but that was not the case. I stayed on to work for a year before transitioning to founding Retail Aware, where we focus on helping brands and retailers capture first-party data from in-store product displays.
What does Retail Aware do?
Retail Aware specializes in empowering brands, retailers, and their partners to gather first-party data from in-store product displays. The retail industry is a little bit of a black box, with brands placing products into stores without a clear understanding of in-store dynamics. We develop tools for physical store displays, leveraging proprietary sensors to ensure privacy—eliminating the need for cameras. We provide insights into shopper behavior and real-time product movement data, essentially creating digital tools for physical store displays. This empowers brands to make informed decisions, similar to A/B testing, optimizing their in-store strategies.
Why did you choose to build Retail Aware in the Midwest, outside of traditional tech hubs?
I believe in the power of being physically close to our customers and partners. Launching in Omaha, Nebraska, helped us garner early support from prominent players in retail, including one of North America's largest shelving manufacturers. The Midwest has a rich history in retail and consumer products, and I wanted to leverage that. Additionally, the lower cost of doing business and the robust support network made it an ideal location for founding Retail Aware. The state is also very friendly for the financial side of startups, benefitting both founders and investors. Our first outside investment came from the state of Nebraska. We got the state prototype grant—a program that has left its mark on practically every consequential startup emerging from Nebraska. The state’s angel tax credit played a pivotal role in facilitating the initial operations of our company. Through the angel tax credit, I successfully raised funds from a couple of angels, including from family friends who were eager and able to invest. Despite my initial hesitations, they insisted, not just because they believed in me but with these incentives they've already made their money back. Incentives prove vital, particularly in a region like Nebraska. There's significant capital here, but it historically tends to flow towards traditional investments and private equity, rather than early-stage companies.
How can the federal government better support traditionally underserved founders?
Nebraska is fortunate to have dedicated individuals leading state programs that played a crucial role in our journey. Personally, I’ve been actively involved as a minority business enterprise (MBE) and contributed to the minority supplier development council, particularly in the Mountain Plains region where I served on the MBEIC board. While acknowledging their decent efforts, I've observed the challenges they face in finding companies. It's a dual challenge that requires not only advocates but individuals actively involved in communities—organizing events and promoting existing programs. This includes going to colleges and universities, recognizing that many startups, like mine, have their roots in educational institutions. They have to be very intentional about the whole process.
How has Retail Aware navigated hiring talent, especially in the STEM fields?
Our talent ecosystem embraces a mix of local and international hires. Notably, many of our interns are international students bringing exceptional skills to the team. The challenges lie in navigating the immigration system, and I've personally witnessed the difficulties these talented individuals face. We have incredible talent that comes from all over the world to be educated at U.S. Universities and then we just kick them out. As a startup, resources and time are limited, making it challenging to allocate hours to the complex sponsorship process. It's a dilemma many face–dedicating finite resources to solving this issue while also risking other aspects of the business. I found a middle ground, recognizing the importance of addressing this challenge while maintaining focus on the overall success of the venture. Simplifying sponsorship processes is crucial, making it a no-brainer for startups to engage without compromising their core operations. Initiatives such as streamlining visa procedures and promoting diversity in STEM can substantially enhance the talent pool, benefiting startups like ours. Additionally, universities offering guidance to immigrant students on understanding their visa options would be a substantial help to retaining exceptional talent in the U.S.
What are your goals for Retail Aware moving forward?
Our vision is grounded in the belief that you can't fix what you can't measure. We envision a future where every shelf is connected, encouraging retailers and brands to make data-driven decisions. While we take each day as it comes, our overarching goal is to contribute to a retail landscape where consumers consistently experience the right product at the right place and time, ultimately elevating their overall shopping experience.
All of the information in this profile was accurate at the date and time of publication.
Engine works to ensure that policymakers look for insight from the startup ecosystem when they are considering programs and legislation that affect entrepreneurs. Together, our voice is louder and more effective. Many of our lawmakers do not have first-hand experience with the country's thriving startup ecosystem, so it’s our job to amplify that perspective. To nominate a person, company, or organization to be featured in our #StartupsEverywhere series, email advocacy@engine.is.
