Innovation Works

Innovation Works is a prominent venture capital firm headquartered in Pittsburgh, Pennsylvania, dedicated to fostering the growth of early-stage technology companies. Since its inception in 1988, the firm has been instrumental in providing capital, mentorship, and resources to startups, aiming to accelerate their development and market presence. Innovation Works is recognized as one of the most active early-stage investors in the United States, having supported over 780 companies and invested more than $130 million in follow-on funding. The firm's portfolio companies have collectively raised over $3.54 billion in additional funding and achieved 77 successful exits, underscoring its significant impact on the entrepreneurial ecosystem.

The firm's investment strategy is comprehensive, encompassing various stages of company development, including Seed, Early Stage, Series A, Series B, Growth, Late Stage, Pre-IPO, Buyout, Turnaround, and Distressed investments. This approach allows Innovation Works to cater to a diverse range of startups, from nascent ideas to established companies seeking expansion. Geographically, the firm primarily focuses on the United States, with a particular emphasis on the Pittsburgh region, reflecting its commitment to regional economic development. The industries targeted by Innovation Works are varied, including Technology, Healthcare, Robotics, Life Sciences, Software, Hardware, Biotechnology, Medical Device, Internet, and E-Commerce sectors.

Innovation Works operates several specialized programs to support its portfolio companies. AlphaLab, established in 2008, is a technology startup accelerator offering tracks in Software, Hardware (AlphaLab Gear), Life Sciences (AlphaLab Health), and Robotics (Robotics Factory). These programs provide startups with resources, mentorship, and funding to help them scale and succeed in their respective markets. The firm's investment philosophy centers on providing tailored support to each startup, leveraging its extensive network and expertise to drive innovation and economic growth in the region.