If you were looking for something to get excited about in the Pittsburgh start-up economy, here’s someting for you. InnovationWorks has just launched their new software/internet/games start-up incubator, AlphaLab.
Have an idea for a software or internet product that you think you could launch in six months with a little investment and hard work? Submit an application. According to their FAQ, the six funded projects will get:
- $25,000 investment to develop initial versions of your product.
- On-site staff resources guiding you on product strategy and development including market definition, market analysis, and user experience testing.
- Access to advisors, mentors, and industry experts.
- Free office space to develop your product in a collaborative environment with fellow entrepreneurs and technologists.
- Access to the AlphaLab user community to provide valuable feedback regarding your product designs and usability.
- Access to AlphaLab educational programs for practical advice on building your team, securing investment, market entry strategies, and other critcal topics.
- Participation in AlphaLab networking events to introduce you to other technology entrepreneurs in Southwestern Pennsylvania.
- A vibrant environment to launch your company and entrepreneurial career.
AlphaLab seems to be modeled on Paul Graham’s Y-Combinator, though AlphaLab seems to give slightly more start-up money, and provides office space (on the South Side) for the companies to work in. And unlike some other tech startup investors, AlphaLab won’t take control of your intellectual property.
It’s a super idea, and I can’t wait to see the companies that come out of it.