They had 20 weeks and an initial $25,000 investment of seed capital to transform talking-point concepts into technology-driven startups. Then Tuesday morning the first class of technology entrepreneurs from AlphaLab, a new project of Innovation Works to accelerate the formation of software, Internet, and entertainment technology companies in southwestern Pennsylvania, presented their companies.
Greeting the hopeful owners of new enterprises was a diverse audience of more than 100 potential investors, foundation supporters, experts in start-up enterprises, deans, department heads and technology transfer managers from Carnegie Mellon and the University of Pittsburgh, veteran technology executives, and others who came for the two hour event.
Each of the six enterprises introduced its team, product application, and strategy for widening windows of market opportunity. Each defined his customer base while pitching the morning’s appeal for investments of capital. Every path to success passed through the Internet. Three envisioned brands built within social networks. Two demonstrated time- and/or cost-saving algorithms to make tedious tasks easier. One proposed a virtual world for teaching teens to manage money.
And each carried a name that the new owners hope will soon be known to millions. Blender House enables friends to consult friends about important life decisions. Chogger offers a web place where anyone can create, share, and view comics. Crono provides a personal agent that negotiates tedious tasks, such as scheduling. Game Huddle helps online game players to identify more suitable competitors and form affinity groups. SkillLife allows teenagers to manage money skills in a virtual world. And Sonya Labs applies Google-inspired search technology to legal research through a product named enfacto.
Source: Alphalab and its first six companies
Writer: Joseph Plummer
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