Pittsburgh Technology Start-Up Funding

Posted by Henry M. Sneath, a principal, shareholder and IP Group Chair at Picadio Sneath Miller & Norton, P.C. in Pittsburgh, Pa.

The Pittsburgh technology community continues to grow and prosper. Old steel mill slabs are now covered with high-tech facilities and incubators. The Commonwealth of Pennsylvania pumped some new money into the Pittsburgh economy with 3 funding awards approved and administered by the Ben Franklin Technology Partners http://benfranklin.org/ (BFTP), a long time Pennsylvania authority which places state funding money with deserving partners. Through a competitive process, the following Pittsburgh based awards were approved by BFPT:

  • $100,000 for Idea Foundry for a technology development grant to help entrepreneurs in information technology or related engineering field create a business. With this funding, the nonprofit organization, which offers market analysis, product management, management team development and other services, is expected to spin out five new companies.
  • $450,000 for the Pennsylvania NanoMaterials Commercialization Center for a university research commercialization grant aimed at developing an industry and university network for building the state’s energy sector.
  • $600,000 for the University of Pittsburgh for a university research commercialization grant for an electric power and energy research project aimed at items such as power electronics, renewable energy and smart grid technology.
  • Read more: Pennsylvania hands out $4M in tech commercialization grants | Pittsburgh Business Times

Thanks to the Pittsburgh Business Times for reporting on these awards.

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