AlphaLab
IndustryStartup accelerator
Founded2008 (2008)
FounderJim Jen
Headquarters
Pittsburgh, Pennsylvania
,
United States
ProductsVenture capital, investments
ParentInnovation Works
Websitealphalab.org

AlphaLab is an American technology startup accelerator based in Pittsburgh, Pennsylvania. It was founded in 2008 by Jim Jen. AlphaLab has two subsidiaries, AlphaLab Gear and AlphaLab Health, catering to companies in the hardware and medical fields, respectively.

History

AlphaLab was founded in 2008 by Jim Jen to help startups develop and launch their products, grow their customer base, and secure venture capital funding.[1] The specific amount of funding provided by AlphaLab typically ranges between $25,000 and $50,000, depending on the startup's needs and stage of development. AlphaLab follows a similar structure to Y Combinator. The accelerator is a subsidiary of Innovation Works, which receives funding from the state of Pennsylvania for economic development. It focuses on technology startups headquartered in the Pittsburgh region.[2]

AlphaLab created AlphaLab Gear in 2013 and AlphaLab Health in 2021, each operating independently.

Programs

The AlphaLab program provides startups with many resources and mentorship support, including access to office space, funding, legal services, and marketing. Startups accepted into the program typically spend 12 months working with the AlphaLab team to develop their startup. AlphaLab is part of the Global Accelerator Network that provides startups with access to a network of investors and mentors, helping them to secure additional funding and advice as they grow their businesses.[3]

Each year, the collective AlphaLabs host hosts a Demoday to showcase the latest technology produced by their startup cohorts.[4]

AlphaLab Gear

Alphalab Gear is an independent subsidiary accelerator launched in 2013, with a specific focus on supporting hardware, internet of things (IoT), and robotics startups.[5][6] AlphaLab Gear hosts a yearly hardware startup pitch contest called the Hardware Cup where startups compete for $50,000 in investment.[7][8]

AlphaLab Health

Launched in 2022, AlphaLab Health is a healthcare and life sciences accelerator.[9] It was billed as a collaboration between their parent company Innovation Works and regional hospital network Allegheny Health Network as a way to streamline medical device prototypes.[10]

Alumni companies

  • Identified Technologies, a drone mapping company.[11]
  • NoWait, a restaurant booking company, acquired by Yelp for $40 million.[12]
  • The Zebra, an insurance company.[13]

See also

References

  1. ↑ Doughty, Nate (February 23, 2023). "Innovation Works chief operating officer to depart after 20 years with startup investment firm". American City Business Journals. Retrieved March 20, 2023.
  2. ↑ Murray, Sarah (July 30, 2018). "Start-up accelerator AlphaLab nurtures the city's tech talent". Financial Times. Retrieved March 20, 2023.
  3. ↑ Soper, Taylor (February 15, 2018). "Inside AlphaLab: Pittsburgh's tech accelerator aims to solve the city's startup challenge". GeekWire. Retrieved March 20, 2023.
  4. ↑ Trizzino, Eddie (May 24, 2017). "Getting Started with Startups: A Peek at Alphalab Demo Day". Pittsburgh Magazine. Retrieved March 20, 2023.
  5. ↑ Alsever, Jennifer (January 16, 2018). "9 Hot Startup Accelerators". CNN. Retrieved March 20, 2023.
  6. ↑ Nixon, Alex (November 19, 2013). "AlphaLab Gear picks 1st class". Pittsburgh Tribune-Review. Retrieved March 20, 2023.
  7. ↑ Conner, Foo (February 7, 2018). "Recap: Hardware Cup Mid-Atlantic Regional Competition". Jekko. Retrieved March 20, 2023.
  8. ↑ Guggenheimer, Paul (May 17, 2019). "Pittsburgh-based Yodel Labs wins AlphaLab Gear Hardware Cup". Pittsburgh Tribune-Review. Retrieved March 20, 2023.
  9. ↑ Bailey, Tia (June 10, 2021). "AlphaLab Health's 7 inaugural startups ready for prime time". NEXTPittsburgh. Retrieved March 20, 2023.
  10. ↑ Burkholder, Sophie (Feb 17, 2022). "Take a look at AlphaLab Health's new lab and startup coworking space". Technical.ly. Retrieved March 20, 2023.
  11. ↑ Mitchell, Julian (Sep 27, 2016). "This Startup Uses Self-Flying Drones To Map And Manage Construction sites". Forbes. Retrieved March 20, 2023.
  12. ↑ Perez, Sarah (March 1, 2017). "Yelp picks up restaurant waitlist app Nowait for $40 million". TechCrunch. Retrieved March 20, 2023.
  13. ↑ Hawkins, Lori (February 1, 2013). "Insurance Zebra raises $1.5 million and moves headquarters from Pittsburgh to Austin". Austin American-Statesman. Retrieved March 20, 2023.
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