Facts You Need to Know about Build Back Better

The White House announced that the Pittsburgh region has been awarded $62.7 million in Build Back Better funding to help support innovation and economic growth. Innovation Works is proud to be partnering with the Allegheny Conference, Carnegie Mellon University, Catalyst Connection, the ARM Institute, the Southwestern Pennsylvania Commission, InnovatePGH, the Pittsburgh Robotics Network, and others to help foster the region’s growth. Innovation Works is leading the Applied Robotics Startup Factory, one of 5-interconnected initiatives designed to strengthen and build our robotics and autonomy ecosystem into a world-leading center for innovation and commercialization.

Here are the important takeaways about the project IW is leading:

“Our region has a rich manufacturing history and is a global center for technology. These funds will help us build both of those strengths together creating new and dynamic relationships for both parties.” — Rich Lunak, Innovation Works’ President and CEO

“Manufacturing is a critical capability for many companies, especially in robotics and autonomy. Partnering with local suppliers enables startups to leverage those manufacturers’ years of expertise resulting in superiority. By working locally product development can be greatly accelerated through close interactions. We are excited to build and scale this model which will showcase the strength of our technology and manufacturing not only in this Pittsburgh region but around the country.” — Mike Formica, Innovation Works’ Managing Director of Hardware and AlphaLab Gear

“IW has been a continuous resource for our region’s startups to get to their next stage of growth. We are excited to be able to amplify BBB by providing the funds solely dedicated to startup investments.” — Rich Lunak, Innovation Works’ President and CEO

“This is an exciting time for IW and the region! All of this activity drives job and financial creation which benefits our entire ecosystem. This will allow us to reach individuals in all communities while demonstrating equity throughout the region. That’s the foundation for future growth that benefits the entire community.” — Kelley Benson, Vice President, Human Resources & Inclusion

Build Back Better is an amazing opportunity for our region and we are happy to play a role in supporting startups and manufacturers. More details regarding Build Back Better, the Applied Robotics Startup Factory, investment dollars, and the DE&I initiatives will be coming in the future. Stay tuned for more information.

Congratulations to the Pittsburgh region!

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Innovation Works

Innovation Works is one of the nation’s most active seed funds. AlphaLab (AL), ALGear, and ALHealth are nationally ranked startup accelerator programs of IW.