Experts say the tech sector finally is emerging from its dreary winter, but Pittsburgh is taking its time catching up.
The National Venture Capital Association reported in January that 2004 was a good year for capturing investment deals from previously leery investors -- $17.6 billion in capital was raised, up from $10.5 billion in 2003.
But Pennsylvania yielded only a fraction of that action, as two high-profile local venture capital funds struggled to raise dollars and fell well below their initial goals.
Yet the crop of local firms remain steady, and several of the industry's subsectors are in growth mode.
Biotechnology, often viewed as the region's best bet, is on stage this spring, as conferences featuring medical devices and pharmaceuticals come to town. Next month, Pittsburgh hosts a convention of the nanotechnology industry.
One of biotech's hottest offspring, Renal Solutions in Marshall, raised $16.5 million in financing earlier this month. Renal Solutions makes portable dialysis machines.
There are signs of life in the information technology sector as well. "Roboburgh," as The Wall Street Journal dubbed Pittsburgh in 1999, got a boost last month when Carnegie Mellon University beat out giant defense contractor Lockheed Martin for a $26 million contract to build combat robots for the Marine Corps.
And despite the slump that wiped out dot.coms from Seattle to Miami, a number of local firms that survived the tech slump are showing some promise.
According to the Pittsburgh Technology Council's 2004 Top 50 list, the steadiest tech earners and employers continue to be the firms established before the Internet bubble.
Pine software and services firm True Commerce, Wilkins voice recognitions systems maker Vocollect Inc. and Sewickley software firm Haley Systems appear to have a knack for luring local talent to their growing staffs.
Others that have managed to grow are Ansys, the Canons-burg engineering design software maker, and Respironics, the Murrysville medical device firm.
Both have been around since the 1970s, expanding their sales and profits despite tough terrains. Respironics' has projected annual growth of 17 to 18 percent, while Ansys reported fourth-quarter income in February that soared 70 percent.