Innovation Works

Innovation Works

Early-stage investment and startup acceleration services

Overview

Innovation Works supports technology entrepreneurs in Southwestern Pennsylvania as an early-stage investor and startup support organization. It blends investment with mentoring, founder resources, and programs such as AlphaLab and AlphaLab Health to help software, hardware, robotics, manufacturing, and healthcare startups grow. The organization runs accelerators and hands-on programs that connect startups with mentors, capital, and regional partners, guiding them through different development stages. It differentiates itself by combining capital with practical, stage-appropriate support and by building a regional innovation ecosystem in Pittsburgh and surrounding areas, working with entrepreneurs, investors, mentors, and community partners. The goal is to help local startups develop, raise funding, and scale up, strengthening Southwestern Pennsylvania’s technology ecosystem.

About Innovation Works

Simplify's Rating
Why Innovation Works is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Venture Capital

Education

Company Size

51-200

Company Stage

N/A

Total Funding

$564.6M

Headquarters

Pittsburgh, Pennsylvania

Founded

1999

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Simplify's Take

What believers are saying

  • Innovation Works launched AlphaLab's largest 2026 cohort, 20 companies, including Concordare Trials.
  • Venture Expo 2026 expects 30-32 startups, strengthening founder-to-investor conversion in Pittsburgh.
  • 2025 portfolio follow-on funding reached $3.74 billion, validating Innovation Works' sourcing engine.

What critics are saying

  • 2025 Pittsburgh VC concentrated in four mega-rounds, starving early-stage companies Innovation Works serves.
  • Locally available uncommitted Pittsburgh VC capital fell to $23.2 million in 2025.
  • If regional funding stays lumpy, AlphaLab graduates face migration to Boston or San Francisco.

What makes Innovation Works unique

  • AlphaLab ranked TIME-Statista top 50 in 2026, Pennsylvania's only ranked accelerator.
  • Innovation Works backs Southwestern Pennsylvania founders with capital, mentoring, and sector-specific programs.
  • Its ecosystem spans AlphaLab Health, robotics, hardware, manufacturing, and healthcare startups.

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Funding

Total Funding

$564.6M

Above

Industry Average

Funded Over

0 Rounds

Benefits

Hybrid Work Options

Remote Work Options

Company News

Castle Placement
Sep 10th, 2026
Top 10 Nanotech capital raises and investors in the U.S. - august 1st - 31st.

Top 10 Nanotech capital raises and investors in the U.S. - august 1st - 31st. Several interesting transactions closed in the Nanotech sector over the past month. If you would like more info on these deals or would like to discuss the capital raising market for your company, please contact me. * Grafta Nanotech, a clean technology company that uses graphene-based nanotechnology for environmental remediation, received $1.84 million of development capital through a private placement. Merger/Acquisition * Endurx Pharmaceuticals, a drug delivery platform that offers targeted therapeutics for hard-to-treat solid tumors and cancer, acquired by NanoRx Science. Later Stage VC * Duo Oncology, a clinical-stage biotechnology platform that offers precise and tolerable cancer treatments, raised $1.63 million of venture funding in the form of convertible debt financing. * Flora Surfaces, a sustainable materials manufacturer that produces protective coatings and biobased polymers for industrial and commercial surfaces, raised $900,000 of venture funding. * Multibeam, a semiconductor lithography equipment manufacturer that offers maskless production solutions for integrated circuits, raised venture funding from Super Capital Group. * NanoClear Technologies, a semiconductor surface engineering technology provider that enables atomic-level precision in chip manufacturing, raised venture funding from Xcendra Ventures. Early Stage VC * NucleoTech, a brain-delivery carrier developer that transports advanced therapeutics across the blood-brain barrier, raised venture funding from MarketCap Investments. Seed Round * DexMat, a high-performance carbon materials manufacturer that produces conductive and lightweight materials for electrification applications, raised $10.25 million through a combination of Seed-1 and Seed-2 funding in a deal led by non sibi ventures. * Discovered Materials, an AI-powered materials discovery technology provider that accelerates materials discovery for the semiconductor industry, raised $9 million of seed funding in a deal led by Lightspeed India Partners. * InnSight Technology, an ophthalmic diagnostic device developer that enables the evaluation of eye and systemic diseases, raised $3 million of Seed funding from SOSV, Life Sciences Greenhouse Investments and Innovation Works. #castleplacement #capitalraising #privateequity #venturecapital #investment #nanotech Jesus tueme. Managing director. Please contact me if you have any questions or would like to discuss your capital raise: Email: [email protected] (C)(646) 479-7616 Send Castle Placement a message: Sources: Information on this page was derived from a variety of sources including Bloomberg, Company Websites, Crunchbase, PitchBook and other news outlets. Castle Placement(R) does not warrant or guarantee this information, nor makes any representations as to the accuracy of the information. For more Risks, see CPGO Risks and Disclaimers. 0 Comments

Venture Capital
Aug 27th, 2026
Concordare secures new funding round for ai-powered PDF conversion platform.

Concordare secures new funding round for ai-powered PDF conversion platform. Concordare, an AI-powered platform, secures funding led by Surface Ventures with participation from Techstars, Innovation Works, and Gaingels. AI-assisted, human-published

Las Vegas Sun
Aug 25th, 2026
Concordare Trials raises funding to digitise clinical trial protocols, cutting study activation time by 6-8 weeks

Concordare Trials has closed a funding round led by Surface Ventures, with participation from Techstars Innovation Works, Gaingels, and individual investors. The New York-based company converts static clinical trial protocol PDFs into structured, interoperable digital formats. Founded by Zach Sawaged, who previously worked at NYU Langone, Amgen, Johnson & Johnson, Takeda, and Veeva, Concordare addresses inefficiencies in clinical research. Manual configuration against non-standardised protocols costs an estimated $25 million per study. The Concordare Suite uses AI to extract protocol information and creates a Clinical Trial Protocol Model, which is human-reviewed before generating system configurations. The platform accelerates study activation by six to eight weeks. The company's partner network includes Rutgers University and other academic medical centres. The funding will support product development, team expansion, and growth of site partnerships.

Innovation Works
Jun 30th, 2026
Pittsburgh startup week: opportunities for healthcare investors.

Pittsburgh startup week: opportunities for healthcare investors. Opportunities in Pittsburgh for healthcare tech investment are on the rise! Healthcare and life sciences investors coming to Pittsburgh for StartUP PGH (September 14-18, 2026) should plan around two anchors: Innovation Works' Venture Expo (September 15-16, The Oaklander Hotel) and the Pittsburgh Bio+Health Track, hosted by the Pittsburgh Life Sciences Alliance, which runs CMU Lab to Market (Sept 15) and the Bio+Health Summit (Sept 16). Together they cover the region's healthcare AI, digital health, and life sciences pipeline in a single trip. Pittsburgh's health innovation story doesn't start with a pitch deck - it starts with proximity. Carnegie Mellon's AI research, the University of Pittsburgh's clinical research engine, and UPMC's health system sit inside the same square mile, and it's producing a startup pipeline that's increasingly hard for healthcare investors to ignore. Why does Pittsburgh matter to healthcare AI and life sciences investors right now? Pittsburgh combines top-ranked AI research with a major academic health system and a growing bio+health startup base: * Carnegie Mellon University holds the #1-ranked AI program in the nation * University of Pittsburgh ranks #7 among NIH-funded research universities, feeding a steady pipeline of clinical and translational research * Pittsburgh-headquartered startups raised $1.48 billion in venture funding in 2025 * The region has produced 7 unicorn startups, including Abridge, which has become a national reference point for clinical AI As the Pittsburgh Life Sciences Alliance puts it: Pittsburgh is where AI, clinical data at scale, and world-class life sciences research share one square mile. The combination of research depth plus a functioning health system as a proving ground is what distinguishes Pittsburgh's healthcare pipeline from cities that have one or the other. What happens at Venture Expo for healthcare investors? Venture Expo runs as two distinct days at The Oaklander Hotel: Day One - Venture Expo (accredited investor pitch day): Startups across the region's high-growth sectors including HealthTech and digital health pitch in a fast two-minute format across two simultaneous tracks, alongside a keynote, fireside chat, networking lunch, panel discussion, and closing remarks. Day Two - Venture Exchange (unstructured deal day): An investor-led day built around the event app, letting investors schedule their own 1:1 meetings with founders - including healthcare and digital health companies - throughout the day. Live deal-flow boards, tech transfer office connections, and a matchmaking support the day, with high-touch meetings available privately through the concierge. What is the Pittsburgh Bio+Health Track? Alongside Venture Expo, the Pittsburgh Life Sciences Alliance hosts a dedicated Bio+Health Track during StartUP PGH - the most direct path for healthcare-focused investors to go deep on the region's life sciences and clinical AI pipeline specifically. Tuesday, September 15 - CMU Lab to Market (9:00 AM - 3:00 PM): An exclusive, curated look at Carnegie Mellon's most promising research-driven startups, spanning AI, robotics, cybersecurity, and healthcare. This session specifically highlights deep collaboration between CMU and the University of Pittsburgh in bio+health, bringing research, clinical, and technology expertise together in one room. Wednesday, September 16 - Bio+Health Summit (9:30 AM - 3:30 PM): A one-day summit putting national investors and strategics in the room with the people driving Pittsburgh's human health innovation. Expect fireside chats with life sciences and healthcare investors, panels with university and health-system leaders, company showcases, a sector-based networking lunch, and an evening reception. Confirmed speakers include representatives from General Catalyst, Redefine Health, Town Hall Ventures, UPMC Enterprises, and Allegheny Health Network, alongside founders leading translation through ARPA-H awards. How should healthcare investors plan their visit? For investors whose thesis centers on healthcare AI, digital health, or life sciences, the most efficient path through the week runs: CMU Lab to Market (Sept 15 morning) | Venture Expo (Sept 15-16) | Bio+Health Summit (Sept 16) - giving exposure to research-stage translation, broad regional deal flow, and a healthcare-specific investor and strategic audience across three days without leaving Pittsburgh. * Venture Expo: register at iwventureexpo.org * CMU Lab to Market and Bio+Health Summit: register through the Pittsburgh Bio+Health Track page, hosted by the Pittsburgh Life Sciences Alliance Frequently asked questions. What is the Pittsburgh Bio+Health Track? It's a set of healthcare- and life sciences-focused events during StartUP PGH, hosted by the Innovation Works, Pittsburgh Life Sciences Alliance, and other partners including CMU Lab to Market and the Bio+Health Summit. When is the Bio+Health Summit? Wednesday, September 16, 2026, from 9:30 AM to 3:30 PM. Who speaks at the Bio+Health Summit? Confirmed speakers include representatives from General Catalyst, Redefine Health, Town Hall Ventures, UPMC Enterprises, and Allegheny Health Network, along with founders who have received ARPA-H awards. Is Venture Expo relevant to healthcare investors specifically? Yes. Venture Expo features startups across the region's high-growth sectors, including HealthTech and digital health, pitching alongside the region's broader tech pipeline. Do I need separate registration for Venture Expo and the Bio+Health Track? Yes. Venture Expo registers through iwventureexpo.org; CMU Lab to Market and the Bio+Health Summit register through the Pittsburgh Life Sciences Alliance event page. What's the most efficient itinerary for a healthcare-focused investor? CMU Lab to Market (Sept 15 morning) for research-stage tech, Venture Expo (Sept 15-16) for broad regional deal flow, and the Bio+Health Summit (Sept 16) for a healthcare-specific investor and strategic audience. Will there be opportunities for 1:1 meetings with founders? Yes. You'll want to be sure to register for Venture Expo, as there will be 7+ hours of space across the two available for investors to meet with founders. Registered investors will be invited to the dealroom platform to pre-schedule meetings and have the opportunity to schedule meetings on-site. What about a hotel? The Venture Expo will be held at The Oaklander Hotel which is within walking distance to CMU campus and the Bio+Health Summit. June 30, 2026 Insights from Cafe IW at TechForge with the Axios Pittsburgh Team By: Gretchen Weaver and Dwayne Tabb Your inbox is a black hole. You spend hours crafting the perfect press [...] May 20, 2026 Jonathan Kersting Has Been Telling Pittsburgh's Tech Story for 29 Years. He's Just Getting Started. The Pittsburgh Technology Council's VP of Communications reflects on nearly three decades inside the ecosystem, [...]

AlphaLab
Apr 10th, 2026
Current Cohort | AlphaLab

Introducing our largest unified group of founders, the AlphaLab 2026 (AL26) cohort.

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