FAQ
We’re here to make your journey with AlphaLab as seamless as possible. Below are answers to some of the most common questions about our programs, application process, and resources we offer. If you need more information, our team is available to assist you through our virtual office hours.
General
What is AlphaLab?
AlphaLab is a premier accelerator by Innovation Works that supports startups through funding, mentorship, and specialized resources across four tracks: software, gear, health, and robotics. Each track is tailored to meet the needs of founders in specific industries, connecting them to the expertise and networks essential for growth.
What is AlphaLab’s relationship to Innovation Works?
AlphaLab was created in 2008 by Innovation Works, one of the most active seed-stage investors in the United States. Since the creation of its seed fund in late 1999, Innovation Works has invested over $80 million in more than 400 companies that have raised over $2.4 billion from investors across the nation.
What is AlphaLab’s relationship to Robotics Factory?
The Robotics Factory is our fourth and newest accelerator track made possible by the Build Back Better Regional Challenge grant awarded by the U.S. Economic Development Administration (EDA) to the Southwestern Pennsylvania New Economy Collaborative.
The Robotics Factory has three programs: Create, which pairs industry leaders with leading technologists and entrepreneurs to create new products and businesses; Accelerate, which invests in early-stage robotics startups; and Scale, which empowers entrepreneurs and manufacturers alike by providing hands-on support, unlocking access to cutting-edge tools, grant funding, rapid prototyping, and educational resources.
Is AlphaLab interested in corporate sponsorships and partnerships?
Yes! Please schedule time to meet with our team.
I have more questions. How can I get in touch with the AlphaLab team?
We are happy to help! Please attend virtual office hours with our staff or email us via the contact page.
Investment
What are the investment terms of the AlphaLab program?
Our standard investment terms are 3% via a fixed percentage convertible equity instrument, plus a $100K uncapped SAFE, deployed as two $50K SAFEs. The first $50K SAFE is invested at the start of the program, with the second $50K SAFE invested at the end of the program once milestones are met.
Are the investment terms negotiable?
Companies have the option for AlphaLab to participate in their SAFE (Simple Agreement for Future Equity) if at least $100,000 has already been raised by an institutional investor on the same SAFE terms.
What is the timeline between applying and getting funded?
It could take up to five months from the time of application to the disbursement of funds and the program’s kickoff.
Applications are usually open for two months. The AlphaLab team takes about a week to finalize our review and interview selection. Interviews may take up to two weeks, followed by a week of deliberation and diligence selection. Diligence may take up to four weeks followed by a few weeks finalizing contracting and funding.
Can I apply if I already have funding?
Yes!
Do you provide follow-on funding after completing the program?
Yes. As AlphaLab is a program of Innovation Works, companies that complete the program are eligible for additional funding from Innovation Works’ Seed Fund. Follow-on investment decisions are not guaranteed and are made independently by the Innovation Works investment committee.
Program
Does AlphaLab require us to relocate to Pittsburgh or can we participate remotely?
- Be regularly on-site at AlphaLab to participate in workshops, 1:1 coaching, and peer events
- Engage fully in person for key programming and community-building activities
- Maintain employees and facilities in Pennsylvania for a minimum period of five years. If the company cannot satisfy these conditions, the company will owe a transfer fee, payable in cash or equity equivalents, equal to the amount of the investment.
How long is the program?
Each of our tracks is approximately six months long.
What is the time commitment?
For the duration of the program, you can expect to dedicate approximately six to eight hours per week.
Do companies get office space for the duration of the program?
AlphaLab Software and AlphaLab Gear companies gain access to dedicated space at the Tech Forge facility in Lawrenceville during the program and for six months following graduation.
AlphaLab Health companies have access to private office and lab space at Allegheny General Hospital’s Suburban Campus in Bellevue during the program and for six months following graduation.
I am applying to the Health track and have a pre-existing relationship with UPMC? Does this impact my consideration for the program?
No! While we are partnered with the Allegheny Health Network, we support plenty of companies that spin out of Pitt and UPMC.
Application and Selection
I think I am too early to apply for AlphaLab. What should I do?
Sign up for our virtual office hours, subscribe to our newsletter, and follow us on LinkedIn and X. If you’re so inclined, apply anyway! This means that you are in our pipeline, and we have a baseline to compare against when you apply for future cycles.
What types of companies are you seeking for AlphaLab?
Please review our eligibility requirements.
What attributes does AlphaLab look for in a founder/founding team?
AlphaLab is seeking ambitious, driven, and coachable founders who are ready to take their startups to the next level. We support startups at the early stages of development and those with a unique vision for growth in sectors like software, robotics, life sciences, and hardware. Founders who join AlphaLab should be ready to fully commit to their startup’s success, engage deeply with our mentorship, and work within Pittsburgh’s vibrant tech community.
How do I select the correct track?
Please review our eligibility requirements.
Will you sign a non-disclosure agreement?
No. Because we look at hundreds of business plans and applications each year, we do not sign NDAs. However, we will work with your company to find the right balance between understanding your unique advantage without requiring you to divulge proprietary information. In your application, please avoid disclosing any technical information that your company considers to be your “secret sauce,” but be as clear as possible about your competitive advantage.
How can I apply?
Learn more on our application page.
What is the selection process like?
Applications are usually open for six to eight weeks. The AlphaLab team takes about a week to finalize our review and interview selection. Interviews may take up to two weeks, followed by a week of deliberation and diligence selection. Diligence may take up to four weeks followed by a few weeks finalizing contracting and funding.
What can I do if my application isn’t accepted?
We love to see the ongoing hard work that founders invest in their companies. We encourage applicants to reapply for future cohorts and to update us via email or office hours in between application cycles. To strengthen your application for future cohorts, we recommend that you:
- Refine and validate your idea: Continue engaging with potential customers to gather feedback, refine your value proposition, and validate the market need for your solution. Showing traction with customer proof or early market demand can make a big impact on future applications.
- Leverage Pittsburgh’s resources: Pittsburgh offers many resources for founders. Consider joining events and workshops that can help you develop and connect with the local startup community.
- Build your team: Investors and accelerators look for strong, well-rounded teams. If you haven’t yet, consider finding team members with complementary skills, such as technical expertise if you’re focused on business, or sales acumen if you’re a technical founder. A balanced team signals a stronger foundation for growth.
- Stay connected: We’re here as a resource, even if you’re not part of the current cohort. Attend our public events, join our mailing list, and follow us on social media to stay in the loop on future application rounds and other ways we support founders.
Want to Learn More?
AlphaLab’s team is here to support you at every step. Whether you’re exploring your options or ready to dive into the application process, we invite you to connect with us. Attend our virtual office hours, schedule a 1:1 session with a program advisor, or explore our FAQ to discover more about what makes AlphaLab a unique launching pad for startups.
Download our Brochure
Get an in-depth look at AlphaLab’s programs, tracks, and success stories. Our brochure covers everything from investment terms to the benefits of building your startup in Pittsburgh. Download it today to see how AlphaLab’s resources, mentorship, and community can accelerate your journey.
Ready to explore what AlphaLab can do for you?
