Pittsburgh's Innovation Works is held up by the New York Times as a model of stimulating venture capital investment and job creation and commercializing university research.
The companies have attracted more than $800 million in venture capital and have gone on to create 3,000 local jobs, says Matt Harbaugh, the chief investment officer of Innovation Works.
One company, Bossa Nova Robotics, is made up of Carnegie Mellon robotics researchers who had a commercial hit last year with a pair of toy robots, the Prime-8 gorilla and Penbo, a penguin.
Original source: New York TimesRead the full story here.