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Downtown Reflections. Photograph by Brian Cohen.
Downtown Reflections. Photograph by Brian Cohen. | Show Photo

Innovation

Pittsburgh innovation news you need to know

The entrepreneurial and innovation sector in Pittsburgh continues to heat up. Here’s a quick look at the news going down around town.
 
CMU reports the creation of a record number of new startups this year, 36 to be exact, an economic milestone for the region by all accounts. CMU, its faculty and students have spun out more than 130 companies over the past five years and have attracted approximately $400 million of outside investment. 
 
CMU also announced a shift to a “spin-in” approach to working with entrepreneurs through organizations like Carnegie Innovations. The model allows companies to function as a venture-supported startup and receive financial support from CMU while the university retains 90 percent equity in each.
 
“It really is an example of us getting into the business of our business in the tech development space,” Mark Kamet, CMU Center for Innovation and Entrepreneurship, told the audience gathered at LaunchCMU last week.
 
Five subsidiaries are underway: Acrobatiq, an open learning initiative; Acatar, a distance learning platform; Panopto, a video recording, transmission and content platform for enterprise; Clearmodel, focused on developing best-practice and model-based improvements; and iCarnegie, an older company developed in the ‘90s that works with government and businesses on workforce development.
 
The University of Pittsburgh announced this month the opening of The Innovation Institute to advance entrepreneurship, commercialization and economic development at the university, bringing everything together under the existing Office of Technology Management, Office of Enterprise Development, and the Institute for Entrepreneurial Excellence. 
 
Built in PGH has announced the creation of Citywide Standup, a monthly meetup to bring entrepreneurs together for regular facetime. Participants will have 30-seconds to expound on their wins and losses over a beer. 
 
Taking a page from Silicon Valley and “Shark Tank”, UPMC is holding another two-day Health Data Palooza," bringing more than 130 engineers, designers and analysts together to create cool tools and products for health care. Last May, a similar event created a device that fits in a shoe to get employees at desk jobs to get up and move. The event will be held on Nov. 20th and 21st at Bakery Square’s offices of UPMC’s Technology Development Center. Judges will be present and funding will be awarded.
 
Writer: Deb Smit
Source: CMU, University of Pittsburgh, Built In PGH
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