| AlphaLab | |
| Industry: | Startup accelerator |
| Founder: | Jim Jen |
| Hq Location City: | Pittsburgh, Pennsylvania |
| Hq Location Country: | United States |
| Products: | Venture capital, investments |
| Owners: | --> |
| Parent: | Innovation Works |
AlphaLab is an American technology startup accelerator based in Pittsburgh, Pennsylvania. It was founded in 2008 by Jim Jen. AlphaLab has two subsidiaries, AlphaLab Gear and AlphaLab Health, catering to companies in the hardware and medical fields, respectively.
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 typically ranges between $25,000 and $50,000, 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 created AlphaLab Gear in 2013 and AlphaLab Health in 2021, each operating independently. [3]
The AlphaLab program provides startups with many resources and mentorship support, including access to office space, funding, legal services, and marketing. Startups accepted into the program typically spend 12 months working with the AlphaLab team to develop their startup. AlphaLab is part of the Global Accelerator Network that provides startups with access to a network of investors and mentors, helping them to secure additional funding and advice as they grow their businesses.[4]
Each year, the collective AlphaLabs host hosts a Demoday to showcase the latest technology produced by their startup cohorts.[5]
AlphaLab Gear is an independent subsidiary accelerator launched in 2013, with a specific focus on supporting hardware, internet of things (IoT), and robotics startups.[6] [7] AlphaLab Gear hosts a yearly hardware startup pitch contest called the Hardware Cup where startups compete for $50,000 in investment.[8] [9]
Launched in 2022, AlphaLab Health is a healthcare and life sciences accelerator.[10] 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.[11]