

Pittsburgh's AlphaLab incubator applications open - NathanCollins
http://www.alphalab.org

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NathanCollins
I'm currently part of the first cycle of this program. AlphaLab has some
benefits over YC:

    
    
      * includes office space
      * more money for less equity
      * longer program
      * cheaper city to live in

~~~
cjenkins
I've been a bit curious on how serious the "stay in Pennsylvania" part is. Are
they heavily enforcing it, hasn't really been an issue, etc?

I'm guessing for the HN crowd here, not being able to head West after
something like this might be a downer.

Pittsburgh is a nice place around the CMU/Pitt/etc. area. Can't really speak
for the rest of the city as I didn't really get around much while at school
there.

~~~
NathanCollins
From <http://www.alphalab.org/about.aspx>:

    
    
        Funding
    
        Innovation Works will invest $25,000 in each AlphaLab company in
        return for 3% of the common stock of the company. This funding
        should support company operations during the AlphaLab program. As
        Innovation Works utilizes funds from the Commonwealth of
        Pennsylvania, each company receiving funding is expected to
        maintain a significant presence in Pennsylvania after the
        program.
    

and from <http://www.alphalab.org/faqs.aspx>:

    
    
        14) Do we have to stay in Pittsburgh after the program ends?
    
        Companies are expected to remain in Pittsburgh after the end of the
        AlphaLab program. Our goal is to help you build a successful
        technology company and to add to the critical mass of flourishing tech
        companies in the Pittsburgh region. We believe that Pittsburgh is a
        great place to build a company and after your experience at AlphaLab
        we are confident that you will agree.
    

As I understand it, the state money imposes the condition that companies stay
in PA. It's been a long time since I looked at our contract/agreement, but I
think the technical details for this round were (roughly) that companies must
maintain a "significant presence" in PA for at least 5 years after receiving
the money. If a company fails to maintain this "significant presence" they
must return the $25,000 invested, but IW retains their 3% equity in the
company. So, I'd say they're pretty serious, but if it were essential for your
company to cut ties with PA at some point it wouldn't be the end of the world.

I don't get around that much myself, but can add: The AlphaLab office space is
on the South Side, which is the big "night life" area, with a bunch of bars,
clubs, restaurants, and for some reason a tattoo parlor on every other block
(maybe drunk people are more likely to spontaneously get tattoos?). Overall
Pittsburgh kind of reminds of Portland, OR, since it's green, cheap, and has a
big river (two actually) running through the downtown. It's also supposed to
rain a lot like Portland, but that hasn't started yet ...

~~~
pius
_It's also supposed to rain a lot like Portland, but that hasn't started yet
..._

Don't worry, it will. ;)

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joseakle
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qhoxie
Can anyone else speak to the merits of AlphaLab? This is the first I have
heard of them.

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mereling
Alphab works closely with its companies to help them with their business
strategy.

~~~
NathanCollins
Yes, I forgot to list this, but it's significant.

* each team gets a one-on-one meeting with the AlphaLab team every week, and when something urgent comes up they can usually make time for another meeting or discuss it on the spot.

* between the AlphaLab program advisors and Innovation Works (the parent company) there are a bunch of experienced business people and entrepreneurs to get advice from and network with.

Together these people have helped us with all sorts of stuff, from developing
business documents like executive summaries and seeking further investment to
setting up focus groups to test and discuss our product.

I don't have experience with YC's program first hand, but anecdotally AlphaLab
blows YC away in terms of amount hands on business help you get. Makes sense
when the program only includes six start ups and is backed by a mature
investment firm. For teams like ours with a lot of technical experience but
very little business experience this seems pretty important.

