AlphaLab, AlphaLab Gear Open Application Window for Next Cohort of Software and Hardware Startups
08.15.24
PITTSBURGH — Aug. 15, 2024 — AlphaLab and AlphaLab Gear, accelerator programs of Innovation Works for software and hardware startups in the Pittsburgh region, have opened the application windows for their next cohorts of participants.
Both six-month programs include up to a $100,000 investment and curriculua designed to help founders develop customer acquisition strategies and prepare for the next phase of fundraising. Participants gain access to a network of mentors including experienced founders, and 12 months of office space at the Innovation Works Lawrenceville location. AlphaLab Gear members will also access manufacturing workshops and the Robotics Factory Scale prototyping facility. Companies leave these programs with a clear growth plan, continued support to reach their next milestones, and may qualify for further capital from the Innovation Works Seed Fund.
Pittsburgh has become a nucleus for technology talent, particularly in developing software and hardware. According to the 12th annual review of Pittsburgh’s tech investment landscape, over 130 unique Pittsburgh companies attracted $3.12 billion in investments in 2023.
“AlphaLab and AlphaLab Gear are among the nation’s top startup accelerators, and we’re excited to continue that legacy with this year’s class of local startups aiming to make significant market impacts,” said Aaron Tainter, Director of Accelerator Programs at Innovation Works. “Our team is driven to mentor this new cohort of founders, ensuring their success and reinforcing our region’s reputation as a hub for cutting-edge tech talent.”
AlphaLab accelerator programs have invested in more than 300 companies, resulting in nearly $1.3 billion in follow-on funding, more than 20 exits, and two unicorns: The Zebra, the nation’s leading auto insurance search engine, and TrialSpark, a tech-driven drug developer that has since rebranded as Formation Bio.
Application windows for both programs will be open until Oct. 15. Founders can apply to AlphaLab here and AlphaLab Gear here.
About AlphaLab
AlphaLab helps startups reach their next stage of growth. Established by Innovation Works in 2008 as its first accelerator, the six-month program includes above-average capital investments and customized guidance from Innovation Works’ staff of entrepreneurs. Since its inception, AlphaLab has invested in more than 150 companies, including $700 million in follow-on funding. It has navigated 15 exits and helped produce two unicorns. Learn more at alphalab.org.
About AlphaLab Gear
AlphaLab Gear helps hardware startups refine their products, strengthen their supply chain, and go to market. Established by Innovation Works in 2013 as one of the first three hardware accelerators in the world, the six-month program includes above-average capital investments and customized guidance from Innovation Works’ staff of entrepreneurs. Since its inception, AlphaLab Gear has invested in more than 50 companies, including $70.7 million in follow-on funding. Learn more at alphalabgear.org.
About Innovation Works
Innovation Works is one of the most active early-stage investors in the country and the most active in Pennsylvania. Since its inception of the seed fund in 1999, Innovation Works has invested in over 760 companies that have gone on to raise $3.3 billion in follow-on funding. Portfolio companies have generated and retained over 20,000 jobs in Pennsylvania. Innovation Works is part of the Ben Franklin Technology Partners network, which has catalyzed economic growth over the last 30 years by providing access to capital and networks that help foster innovation and technology-based economic development in Pennsylvania. Learn more at innovationworks.org.
Contact
Jane Joseph
Innovation Works
Mobile 412-722-8474
Lexie Capperella
Gregory FCA for Innovation Works