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Innovation Works

General contacts

Investor type

PE / VC

Founded

1999

AUM

$423 M

Location

Pittsburgh, Pennsylvania, United States

$10-50 m

Investment Ticket

3-5 years

Investment Horizon

Seed, Series A

Investment Stage

Sale to strategic investor, IPO

Exit Strategy

Investor profile last updated: 27 July, 2026

Profile

Innovation Works (IW) is the Pittsburgh region’s most active investor in and supporter of early-stage companies developing hardware, software and life sciences technologies.

Though focused exclusively on helping startups in the southwest PA region, IW’s level of investment activity makes it one of the most active investors in the U.S. Innovation Works is part of the statewide Ben Franklin Technology Partners, a network of four centers developed to help diversify PA’s economy and retain the state’s high caliber innovations that are invented and incubated here. The Ben Franklin Technology Partners are partially funded by the Commonwealth of PA and overseen by the Department of Community and Economic Development.

Founder of AlphaLab (http://alphalab.org)--one of the nation's top startup accelerators-- AlphaLab Gear (http://alphalabgear.org)--its hardware program -- AlphaLab Health (https://alphalabhealth.org/) -- its life sciences program and -- Robotics Factory (https://roboticsfactory.org/) -- its robotics program.

Industry

Education Healthcare Services Media and Entertainment Software Transportation Financial Services Fintech Food and Beverage Foodtech Robotics SaaS Security HealthTech

Region of investment

North America Asia

Innovation Works Funds

Name	Type	Industry	Stage	Region	Size	AUM	Launch date
Ignite Capital	Venture Capital (VC)	Financial Services Fintech Healthcare Services Robotics SaaS Security Software Transportation HealthTech	Pre-seed Seed	North America	$5-10 m	$4 M	November 2020

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