Ernst & Young LLP and Innovation Works, Inc. presented the sixth annual review of Pittsburgh’s technology investment landscape. They have analyzed a decade’s worth of comprehensive data on the companies attracting capital in the region, the investors funding them and the exits they generate.
The trends emerging from the past 10 years paint a compelling portrait of regional growth. More than 450 unique Pittsburgh companies attracted a total of $3.5 billion in investment over the past 10 years. The amount of capital invested and number of companies receiving funding have both increased dramatically over the 10-year period, pointing to a robust pipeline of early-stage companies to drive growth over the next decade and beyond. From 2008 to 2017, annual investment amounts grew 198%, and the number of annual deals increased by 129%.
In this TechVibe Radio podcast, hear from Innovation Works CEO Rich Lunak and EY Pittsburgh Office Managing Partner, Leon Hoffman talk more about the study, the data and what it means for Pittsburgh. Read the entire report here.