PITTSBURGH — Dec. 13, 2024 — Innovation Works, one of the most active early-stage investors in the country providing capital and a continuum of resources to entrepreneurs in the Pittsburgh region, has won the Investment Trailblazers Award from Tech Trailblazers.
The Investment Trailblazers Award recognizes organizations within the enterprise tech startup ecosystem that are developing innovative approaches to startup funding. Innovation Works extends beyond traditional accelerator models by combining direct capital investment with specialized programming and hands-on mentorship. In 2023, the organization invested more than $7 million across 60 local tech startups while supporting the creation or retention of more than 3,000 jobs, helping position Pittsburgh as a leading tech hub. Since Innovation Works’ inception, portfolio companies have gone on to raise more than $3 billion in follow-on funding.
“This award affirmed our commitment to supporting companies in a holistic manner,” said Ven Raju, President and CEO at Innovation Works. “These support resources are designed to derisk companies so that they can go on to raise follow-on capital to support continued development and growth.”
Through accelerators like AlphaLab and Robotics Factory Accelerate, Innovation Works provides sector-specific expertise, networking, and guidance. Its Scalable Innovation programs further strengthen the local ecosystem by connecting hardware entrepreneurs with manufacturing partners throughout Southwestern Pennsylvania, while Riverfront Ventures, a private-sector venture capital firm managed by Innovation Works, invests in early-growth stage tech companies.
“As we look ahead, it’s clear that Innovation Works and these trailblazing companies will continue to make significant impacts in their respective industries,” said Rose Ross, Founder of the Tech Trailblazers Awards. “We’re proud to play a role in your journey.”
Learn more about how Innovation Works supports early-stage companies and strengthens Pittsburgh’s position as a hub for innovation and technology.
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 700 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
Gretchen Weaver
Innovation Works
Lexie Capperella
Gregory FCA for Innovation Works