This is a list of technology-related incubator facilities in the Pittsburgh region. Each incubator offers a slightly different variation on the space-plus-services business model.
There are several other facilities in the area catering to technology companies and offering shared space, but without as much emphasis on additional services. These facilities include, but are not limited to the Brewery Innovation Center, which is part of the Penn Brewery complex on the North Side, and the Pittsburgh Information Technology Center on Fourth Ave., Downtown.
Name: @VentureWorks Inc.
Top executive: Mark Smith, CEO.
Year created: 2000.
Types of companies incubated: Those based on technologies developed by @VentureWorks' professional service network.
List of firms: Bigequip.com, Frank's Garage.
Physical facilities: 9,000 square feet in Sarver, Butler County, and 2,000 square feet in Toronto (currently looking at additional 13,000-square-foot facility in Downtown Pittsburgh).
Other features: Makes both cash and service investments (worth up to $3.5 million), and raises capital through both public and private markets. Provides all business-development-related services, including technical services and consulting, branding, marketing and sales training, production services, business plan modeling, legal assistance, accounting and staffing. Firms brought into facility, created within the facility and acquired outright.
Name: Internet Venture Works Inc.
Top local executive: Matt Miller, COO.
Year created: 1999.
Types of companies incubated: Brick-and-mortar Internet companies, healthcare Internet/technology companies.
List of firms: Farmandcountry.com, Medevisions.
Physical facilities: 55,000 square feet between two offices in Downtown Pittsburgh and Waltham, Mass.
Other features: Invests between $1 million and $5 million in incubatees. Takes either cash or equity for services. Services include strategic and business development, technology development, human resources, recruiting, accounting, marketing and public relations. Has partnerships with nearly 30 companies, including Jupiter Communications, Microsoft, Bell Atlantic, UPMC Health Systems, Lycos, Deloitte & Touche and Monster.com.
Name: iventurelab.com Inc.
Top executives: Henry Wang, chairman; Tommy Wang, CEO and president.
Year created: 1998 (as Pittsburgh Direct Technology -- changed to iventurelab.com in 1999).
Types of companies incubated: Internally generated and university-generated technology companies.
List of firms: USInterns.com, PowerByNumbers.com, WiredOrg.com, Hubat.com, CertifiedSkills.com, Redshoulder.com.
Physical facilities: 30,000-square-foot building in Oakland (with plans to expand to a 170,000-square-foot facility in the Strip District).
Other features: Funds firms through a network of private investors and venture capitalists. Provides services on a cash and equity basis. Services include Web development and design, market research, business plan development, risk assessment, partner and investor relationship establishment, marketing and communications, human resources, administrative support, legal counsel, accounting support and recruiting.
Name: LaunchCyte LLC.
Top executive: Thomas Petzinger Jr., CEO.
Year created: 2000.
Types of companies incubated: Biotechnology.
List of firms: Agreements pending.
Physical facilities: Expects to open 10,000-square-foot facility in Oakland this fall.
Other features: Provides services and up to several-hundred-thousand dollars in capital to firms in exchange for equity (closing on at least $1.7 million in funding next week and at least another $5 million later this year for such investments). Firms either are brought in, created internally or built around the licensing of certain technologies. Provides each firm with ownership stake in incubator. Services include strategic counsel, marketing, Web development, business plan development, human resource, presentation support, access to later-stage financing. Also anticipates laboratory space for firms next year.
Name: Zlingshot LLC.
Top executive: Casey Smith, CEO.
Year created: 2000.
Types of companies incubated: Technology/Internet.
List of firms: Would not disclose.
Physical facilities: 6,000 square feet of temporary space in Greentree (plans to find permanent space in the Strip District).
Other features: Invests up to $200,000 in firms. Provides strategic and operational planning, marketing and public relations, technology and Web development, recruiting, business development assistance and venture funding assistance. Will take stock in lieu of cash for services. Firms are both created in-house and brought in while in infancy. Has partnerships with Computer Enterprises Inc. (for technology services) and Ernst & Young.
Information provided by each incubator. One local incubator, Venture Beginnings, did not participate in this survey.
