Review on Innovation Works by Olugbenga Ajayi
Innovation works is targets startups from different sector and has continued to increase in this regard
Innivation works was founded by Rich Lunak in 1999. Itbis located in Pennsylvania, USA. It is a multi sector accelerator company that is open to founders from different sectors.
Its services is divided into three namely:
1. Alpha Lab accelerator which care for start-up companies in the area of software tech companies.
2. Alpha Lab Gear which is a hardware accelerator guidance to startup through network, investors and customers.
3. Alpha Lab Health. This is the newest category in the accelerator services of innovation works.
Altogether the company aim to provide equal opportunity for startups in the region and beyond. Innovation work already has a good track record in this regard. Since 1999, it has developed more than 370 startups and has spent ove $78M on startup development.
Pros
- Innovation works helps startup to develop better strategies to reach larger market
- It helps startups to imptove their usage of dihital technology
- It provides startup with all necessary resources including funding and business advisory
- Application process is direct. There is no business advisor as a medium
- It has been in existence for over a decade and has maintained good record track
- It has a large community of entrepreneur who are ever ready to share their expertise and knowledge with startup through group sessions and 1:1 meeting
Cons
- Vital information like amount accessible and percentage of equity required are not clarified on tge webpage
- Focus is more on the startups from Pennsylvania region. The whole world needs accelerators like this.
