Innovation Works

There’s nothing soft about Software

Starting a software company is hard. IW can help companies overcome  obstacles to demonstrate repeatability in its path to growth and scale.

As the largest portion of the IW portfolio, our software sector supports innovative software companies through capital, know-how, networks, and community. From Saas to e-commerce, Fin-Tech to Cyber Security, we’ve helped our software portfolio get to their next stage of growth. 

IW has funded many of the top software companies in Pittsburgh including Vivisimo (acquired by IBM), Wombat Security (acquired by Proofpoint), JazzHR, Voci (acquired by Medallia), and ShowClix (now Patron Technologies). 

Current growing software companies include Blastpoint, Civic Science (and Rulo), Govenda, Gridwise, Honeycomb Credit, IRALogix, Jetpack Workflow, Maven Machines, MeterFeeder, Symmetric Health, and Zoobean.

How we help

Capital

Since 1999, IW’s software portfolio has 227 software companies provided  $36.4M in funding, raised over $898M in follow-on funding, and seen 44 exits.

Software companies can receive funding through our AlphaLab accelerator preseed program and our IW seed fund. Initial investment amounts vary based on stage of company and fund and are typically $50K for AlphaLab and up to $150K for our seed fund. 

Looking for funding? Here are some basics about the companies IW works with:

  • Built an initial working product and early customer engagement (accelerator/preseed stage)
  • Demonstrated customer value and revenue traction (seed stage)
  • Developing repeatable customer acquisition processes (seed stage)
  • Physical presence in Southwestern PA

Want to know more? Schedule office hours with our Software Team

We’d also point you to IW’s Startup Recipes collection which is designed to help you validate customer needs and build initial prototypes with minimal funds. Get cooking today! 

Know How

IW’s team brings a diversity of experience, knowledge and expertise to the table. Our software team, which works with companies across AlphaLab and the IW seed portfolio, has experience building and scaling enterprise software solutions, leading marketing and go-to-market strategies at venture-backed startups and leading venture-capital investments.  Additionally, the IW team brings commercialization, investment and functional experience in related areas such  as marketing, human resources, robotics, manufacturing, healthcare and life sciences to help scaling businesses to their next stage of growth.

Networks

IW’s network is always growing. Our network consists of entrepreneurs, mentors, investors, industry and community partners that understand the unique challenges startup companies are facing. Whether you are looking for a peer advisor, out-of-the-box thinker, or trusted industry expert, IW can help make connections locally, regionally, or nationally. Our companies also have access to content, perks and discounts through GAN, an international network of leading accelerator programs, partners and investors.

Learn how Honeycomb Credit, an AlphaLab Alum and IW seed fund company, used IW’s network to get to their next stage of growth!

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Community

They say it takes a village to launch a startup and in the IW Portfolio, you are never alone. 

IW fosters a community of entrepreneurs through our: 

  • Active portfolio and alumni network
  • Founders’ lunches and peer groups
  • Mentor relationships
  • Accelerator co-working space
  • Online community group
  • Hosting and sponsoring community events
  • Perks and discounts through the Global Accelerator Network (GAN)
  • Alumni soccer team
  • And more!

Throughout IW’s programs, networks, and community, we support diversity and inclusion. IW believes that diversity of backgrounds, thoughts, and experiences is essential to growing a prosperous startup. Learn more about IW’s commitment to diversity!

IW is proud to call Pittsburgh home and there are many reasons to love this region! See why we think Pittsburgh is the place to launch and get your startup to the next stage of growth!

AlphaLab is Innovation Works’ nationally ranked accelerator, focused on helping software-based companies demonstrate product-market validation to gain the traction needed for additional customer growth and potential investment. 

As one of the first accelerators in the US, AlphaLab has a track record of helping companies launch and grow to exits and unicorn-level growth with companies including The Zebra and Trialspark.

We know that every company is unique and we create a custom experience through our program starting with our always open application cycle, emphasis on 1:1 interactions and modular, flexible approach to helping you with key priorities such as product, go-to-market, funding. Our follow-on seed fund allows us to invest post-program in companies demonstrating strong customer validation and traction.

Our philosophy for building a company is simple – engage with customers early, build a great product that solves a big problem and iterate quickly to achieve product-market fit. Throughout and after the program, AlphaLab provides:

  • $50K in funding and the opportunity to raise money from the Innovation Works seed fund post-program
  • 1:1 interactions with us and the extended Innovation Works team
  • Additional connections to our network of mentors, investors, and industry leaders as well as access to GAN perks.
  • Community with our robust network of alumni through various interactions
  • Workshops and talks with real-world, actionable advice from our network of alumni, mentors and investors
  • Office space in a collaborative work environment filled with snacks and drinks to fuel your business

Have questions about AlphaLab? Visit their website at alphalab.org.

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