Applications Now Open for Innovation Works’ Scalable Funds
11.12.24
Awardees receive reimbursement for prototype design and production costs while forging connections with local manufacturers to build a reliable supply chain
PITTSBURGH — Nov. 12, 2024 — High production costs, the need for specialized manufacturing partnerships, and the complexity of producing a product at scale can be challenging. Innovation Works, one of the most active seed-stage investors in the country, has opened applications for its Scalable Grant Program to help founders overcome these barriers. The program offers up to $25,000 reimbursement for hardware startup companies collaborating with Pennsylvania-based manufacturers and suppliers.
Founders can apply for funding to help them with prototype design and production. Scalable serves as a hub to connect forward-thinking manufacturers that want to help local startups succeed and drive economic growth throughout Southwestern Pennsylvania.
“Taking your product to the next level with an outside manufacturer is a significant milestone and our team has helped connect over 50 entrepreneurs with hundreds of needed local manufacturing resources,” said Matt Verlinich, Senior Manufacturing Program Manager at Innovation Works. “Over the years, this program has strengthened the hardware ecosystem in Southwestern Pennsylvania, with more than 600 local manufacturers and 220 entrepreneurs represented in Scalable’s network.”
Beyond funding, Scalable provides expert guidance to ensure hardware companies are set up for success. Entrepreneurs can benefit from face-to-face meetings with manufacturers, a front-row seat when their first piece comes off the production line, and critical support during product development and prototyping. By fostering local production, Scalable empowers innovators to stay close to the action and make an economic impact for the region together.
“The support from the Scalable Grant enabled us to source and build our initial production systems and deploy them to our first trial customers, laying the groundwork for our continued growth,” said Doug Descalzi, Founder of Thiopoly, which recently received funds from the Grant.
Applicants are encouraged to act promptly as grant availability is limited and highly competitive. Applications will be accepted until Feb. 1, 2025. Learn more about eligibility and apply for the Scalable Grant Program.
About Innovation Works
Innovation Works is one of the most active early-stage investors in the country and the most active in Pennsylvania. Since its inception of the seed fund in 1999, Innovation Works has invested in over 760 companies that have gone on to raise $3.3 billion in follow-on funding. Portfolio companies have generated and retained over 20,000 jobs in Pennsylvania. Innovation Works is part of the Ben Franklin Technology Partners network, which has catalyzed economic growth over the last 30 years by providing access to capital and networks that help foster innovation and technology-based economic development in Pennsylvania. Learn more at innovationworks.org.
Contact
Lexie Capperella
Gregory FCA on behalf of Innovation Works