AlphaLab
 | This article contains promotional content. (March 2023) |
| Industry | Startup accelerator |
|---|---|
| Founded | 2008 |
| Founder | Jim Jen |
| Headquarters | , United States |
| Products | Venture capital, investments |
| Parent | Innovation Works |
| Website | alphalab |
AlphaLab is an American technology startup accelerator based in Pittsburgh, Pennsylvania. It was founded in 2008 by Jim Jen. AlphaLab has four tracks, Software, Hardware (AlphaLab Gear), Life Sciences (AlphaLab Health), and Robotics (Robotics Factory).
History
[edit]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 is up to $100,000, 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 was one of the first 10 accelerators in the United States and one of the first 100 accelerators in the World.
AlphaLab created AlphaLab Gear (hardware track) in 2013 and AlphaLab Health (life sciences track) in 2021, each operating as part of the AlphaLab accelerator program. [3]
Programs
[edit]AlphaLab has four tracks, Software, Hardware (AlphaLab Gear), Life Sciences (AlphaLab Health), and Robotics (Robotics Factory). The AlphaLab program provides startups with many resources and mentorship support, including access to office space, funding, programming, and mentorship.
AlphaLab’s curriculum is built on what founders need, the 3 C’s: Customer, Capital, and Community.
Customer
- The customer curriculum is designed to be a game-changer for startup founders looking to achieve lasting success. Through hands-on workshops, 1:1 sessions, and expert-led discussions, founders gain critical skills to refine their value proposition, validate product-market fit, upskill your sales abilities, and engage with real customers. By the end of the program, each founder will have a well-defined customer segment, a polished sales pitch, and a compelling sales deck—powerful tools to kickstart their customer acquisition journey.
Capital
- The capital curriculum equips founders with the knowledge and tools they need to successfully navigate the fundraising journey. From mastering the essentials of investor pitches and financial projections to building an investor-ready data room, our program ensures that founders are prepared at every stage of capital acquisition. Through interactive sessions led by experienced investors, alumni, and industry mentors, founders learn how to develop a compelling fundraising strategy, engage with investors effectively, and set themselves up for future growth.
Community
- The AlphaLab accelerator is more than just a program, it's a thriving community that surrounds you with support, resources, and connections to fuel your success. With a vast alumni network of founders who’ve been in founders' shoes, an extensive mentor network of industry leaders, and strong local ties, the Pittsburgh community ensures that founders are never alone on their journey. AlphaLab's in-person programming strengthens these connections, creating opportunities for invaluable peer learning, mentorship, and local partnerships that last well beyond the program.
In the past, the collective AlphaLab has hosted a Demo Day to showcase the latest technology produced by their startup cohorts.[4]
AlphaLab Gear
[edit]AlphaLab Gear, launched in 2013, is the hardware track of the AlphaLab accelerator, with a specific focus on supporting hardware, internet of things (IoT), and robotics startups.[5][6] In the past, AlphaLab Gear hosted a yearly hardware startup pitch contest called the Hardware Cup where startups compete for $50,000 in investment.[7][8]
AlphaLab Health
[edit]Launched in 2022, AlphaLab Health, is the healthcare and life sciences track of the AlphaLab 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
[edit]- Identified Technologies, a drone mapping company.[11]
- NoWait, a restaurant booking company, acquired by Yelp for $40 million.[12]
- Spoken, a software company that develops an augmentative and alternative communication app.[13]
- The Zebra, an insurance company.[14]
See also
[edit]References
[edit]- ^ 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.
- ^ Murray, Sarah (July 30, 2018). "Start-up accelerator AlphaLab nurtures the city's tech talent". Financial Times. Retrieved March 20, 2023.
- ^ Works, Innovation (2020-09-24). "Launching AlphaLab Health!". Startups & Investment. Retrieved 2024-03-24.
- ^ Trizzino, Eddie (May 24, 2017). "Getting Started with Startups: A Peek at Alphalab Demo Day". Pittsburgh Magazine. Retrieved March 20, 2023.
- ^ Alsever, Jennifer (January 16, 2018). "9 Hot Startup Accelerators". CNN. Retrieved March 20, 2023.
- ^ Nixon, Alex (November 19, 2013). "AlphaLab Gear picks 1st class". Pittsburgh Tribune-Review. Retrieved March 20, 2023.
- ^ Conner, Foo (February 7, 2018). "Recap: Hardware Cup Mid-Atlantic Regional Competition". Jekko. Retrieved March 20, 2023.
- ^ Guggenheimer, Paul (May 17, 2019). "Pittsburgh-based Yodel Labs wins AlphaLab Gear Hardware Cup". Pittsburgh Tribune-Review. Retrieved March 20, 2023.
- ^ Bailey, Tia (June 10, 2021). "AlphaLab Health's 7 inaugural startups ready for prime time". NEXTPittsburgh. Retrieved March 20, 2023.
- ^ Burkholder, Sophie (Feb 17, 2022). "Take a look at AlphaLab Health's new lab and startup coworking space". Technical.ly. Retrieved March 20, 2023.
- ^ Mitchell, Julian (Sep 27, 2016). "This Startup Uses Self-Flying Drones To Map And Manage Construction sites". Forbes. Retrieved March 20, 2023.
- ^ Perez, Sarah (March 1, 2017). "Yelp picks up restaurant waitlist app Nowait for $40 million". TechCrunch. Retrieved March 20, 2023.
- ^ "Igniting Innovation at AlphaLab Health". Highmark Health. Retrieved 2 February 2024.
- ^ 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.