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Fund profile

Innovation Works

Innovation Works

United States

Leading

About

Innovation Works (IW) is a leading early-stage investor in southwestern Pennsylvania, primarily focused on technology startups. Founded as part of the Ben Franklin Technology Partners network, IW has significantly contributed to the region's economic growth by investing in over 700 companies, which have collectively raised $3.3 billion in follow-on funding and created over 20,000 jobs. Notable sectors in IW's portfolio include robotics, life sciences, software, and clean energy. Some of their prominent investments are in companies like Aurora Innovation and Stack AV, which are part of the thriving robotics and autonomous vehicle industries in Pittsburgh. IW's support extends beyond funding, providing mentorship and resources through their accelerators, AlphaLab and AlphaLab Gear. In 2023, despite a national downturn in venture capital, Pittsburgh's tech sector saw a substantial increase in investments, reaching $3.12 billion, driven by significant activity in automation and AI. This positions Pittsburgh as an emerging tech hub with a growing number of new investors and global technology companies setting up satellite offices in the region. For startups looking to connect with IW, demonstrating innovation and potential for significant impact in high-opportunity markets will align with IW’s investment philosophy.

Details

Round

Pre-Seed
Seed
Venture Round

Previous Investments

Advertising & Marketing
AI & Deep Tech
CleanTech & Sustainability
Consumer Goods & Electronics
Data & Analytics
Energy & Utilities
Food & Beverage
Hardware. Robotics & IoT
Healthtech & Wellness
Other
Pharma
Social media
Software & Apps
Transportation & Mobility

Geo focus

Israel
Europe
USA
Canada

Highlights

$21.1k

Historical average check

$6M

Historical max check

November 2024

Last investment date

661

Investments

Fintech & Financial services

Software & Apps

Hardware. Robotics & IoT

Lifestyle

Consumer Goods & Electronics

E-commerce & Retail

Biotech

Healthtech & Wellness

Agritech & Farming

Energy & Utilities

CleanTech & Sustainability

Pharma

Social media

Data & Analytics

AI & Deep Tech

Food & Beverage

Transportation & Mobility

Advertising & Marketing

Other

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Website

innovationworks.org

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