Pittsburgh-based Innovation Works has received a $50,000 award from the U.S. Small Business Administration to help women entrepreneurs and tech startups.
The company was one of 60 winners of the SBA’s annual Growth Accelerator Fund Competition. Accelerators and incubators in 39 states will receive $3 million to support startups and entrepreneurs researching and developing STEM-related innovations, SBA said.
The prizes are not for direct investing in businesses.
“Each $50,000 award will infuse a winning accelerator or incubator with additional operating capital to provide focused assistance to entrepreneurs,” said Steve Bulger, SBA Mid-Atlantic acting regional administrator. “This assistance includes support for company formation, as well as education on (SBA programs).”
“Historically, one-third of the companies coming through our accelerators have a woman founder. This award will help us with outreach efforts to increase that participation rate of women entrepreneurs in our programs,” said Bob Starzynski, director of business development at Innovation Works.
