Listen to SSTI's Interview with Rich Lunak of Innovation Works

SSTI has an effective new learning tool for TBED policymakers and practitioners seeking guidance in approaches to building and sustaining tech-based economies. Through exclusive interviews with Excellence in TBED Award recipients, find out first-hand how these award winning initiatives successfully responded to a critical need by applying innovative approaches to generate substantial economic gains for their region.

Innovation Works 2008 Winner for the Increasing Access to Capital category

Listen to a five-minute clip of SSTI's interview with Innovation Works president and CEO Rich Lunak or the full conversation (19:45 minutes).

To grow and support technology companies throughout the Pittsburgh region, Innovation Works' seed fund, the primary investment program of the Ben Franklin Technology Partner for Southwestern Pennsylvania, invests up to $600,000 in technology startup companies and provides a variety of professional services through a network of in-house executives in residence. Innovation Works also plays an active role in a number of broader economic development initiatives that are specifically geared toward increasing entrepreneurial access to capital.

The impact of this program on the Pittsburgh region has been profound, as the region has become the second fastest-growing venture capital market in the U.S. over the past 10 years (as measured through the National Venture Capital Association and PricewaterhouseCoopers MoneyTree survey). In the nine years since its inception, the Innovation Works seed fund has invested roughly $40 million in approximately 120 startup technology companies. As of December 31, 2008, these companies have attracted more than $600 million in additional follow-on funding, employ thousands of individuals, and account for more than 70 percent of the venture capital deals in the region.

Listen to the five-minute condensed version of the interview.

SSTI will be posting podcast interviews with all of the 2008 Excellence in TBED Award winners in the coming months.

For more information about the SSTI Excellence in TBED Awards, visit: http://www.sstiawards.org. View this page on the web at: http://www.ssti.org/media/lunak.html.

Download a recording of SSTI's May 13 informational phone call about the 2009 Excellence in TBED Awards.

You can now subscribe to the SSTI Excellence in TBED Award Podcast in iTunes, your RSS reader or any podcasting service. Details are available at http://www.sstiawards.org.

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