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Innovation Works programs an 'evolution' for agency
An example is the Technology Adoption Grant Fund, a new program that will provide capital for manufacturers to make the leap to improve their own production processes, and hopefully gain a competitive edge.
Innovation Works, a state-funded agency that provides investment and business support to early stage technology companies in Southwest Pennsylvania, said it will remain true to its core program. But the expanded focus is expected to have an impact on companies outside its current portfolio.
"It's more of an evolution. Is it a change? Yes, principally on emphasis," said Sanford Ferguson, board chairman of Innovation Works.
Ferguson said the changes reflected feedback and input from companies that have received funding, partners in the economic development community, companies that were turned down for funding and partners in outlying areas.
"It was a vigorous listening process, and that's what led to a new operating plan. We're making a strong effort to interact with our partners. We had not been doing enough in the past, and we'll probably do more in the future," Ferguson said.
Manufacturing companies in the region will have a shot a getting funding when they seek technical assistance from companies who help with product improvement -- such as the National Center for Defense, Machining and Manufacturing, located at the headquarters of Kennametal Inc. in Unity, Westmoreland County.
"We're excited because we can help company's where they need it the most," said John A. Skiavo, president of the Economic Growth Connection of Westmoreland. He also served as pointman for the Southwestern Pennsylvania Economic Development Association, in informal coalition of economic development officials in a 10-county area.
Michael Krajovic, president of the Fay-Penn Economic Development Council in Fayette County, who criticized Innovation Works in the past for prioritizing funding for high-tech companies in Allegheny County, said he welcomes the change in direction.
"It's a real strong step in the right direction. The money is to be used to pay for the cost of a manufacturer to engage a technical center. It's something I've been encouraging for several years," Krajovic said.
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