Preview of 13th Annual Entrepreneurs Growth Conference at Duquesne University
May 12, 2011
Panel Speaker on Growth Financing
Larry Miller has more than 20 years experience in leading and managing medical device companies. Prior to joining Innovation Works, Larry was President and CEO of Biomec, a privately held technology accelerator and investment company which raised over $20M in SBIR grants and provided contract engineering and manufacturing as well as business development consulting for radiology product manufacturers and distributors. Previously, Larry was President of the Healthcare Products group at Picker International and Philips Medical systems, a $600M distributor of radiology supplies. He also managed the Asia/ Pacific region for sales and service of the diagnostic imaging product portfolio, and was president of the Picker Financial Group, a JV, captive leasing company. Other experience included leading the the marketing and sales of CT and MRI products for Picker and General Electric Medical systems.
Larry has earned a Bachelor of Science in Mechanical Engineering from the University of Pennsylvania and an MBA from the Wharton School
What are the hot technologies that are developing in the Pittsburgh region?
Pittsburgh’s entrepreneurial ecosystem reflects our historical industrial strengths and research focus. Advanced materials, energy saving processes, medical devices and software applications are the most frequent applications for business assistance and seed stage funding over the last 12 months.
2. How do early stage, technology companies get financed?
Technology based economic development companies like Innovation Works provide seed funding to 25-30 new companies each year. The angel organization and the regions venture capital companies fund another 10-20 companies.
3. What are the returns on economic investment in this asset class of companies?
There is of course the Return on Investment (ROI) financial metric that classic investors use to measure their success. However, growth in local employment, the retaining of talent in the Pittsburgh region and the further development of the entrepreneurial community are other important goals. Also, our startup companies have attracted over $1B in follow on funding investment into the region.
4. Attracting and retaining talent in technology companies: how does Pittsburgh do it?
The area is rich in initiatives to develop and maintain the human resource potential:
AlphaLab is a software incubator targeted to attract local developers
There are literally 100+ internships annually for undergraduates and graduates designed to introduce the world of work and the entrepreneurial opportunities available in the region.
Job fairs are numerous
For example, IW has created almost 3000 jobs over the past 10 years in high tech industries.
Sites for funding help and networking:
TBEDS
Calendar sites for networking
Larry Miller
Executive in Residence
Innovation Works
2000 Technology Drive
Pittsburgh, PA 15219-3109
Phone: (412) 894- 9515
Cell: (330) 256-5542
Fax: (412) 681 -2625
email: lmiller @innovationworks .org
www.linkedin.com/in/llarrymiller
– Innovation Works: www.innovationworks.org
– PLSG: www.plsg.org
– Idea Foundry: www.ideafoundry.org
– The Tech Collaborative: www.techcollaborative.org
– Pittsburgh Gateways: www.pghgateways.org
– Pennsylvania Nanomaterials Commercialization Center: www.pananocenter
Calendar sites for networking
– Abhishek Sharma [abhishek@thestartupdigest.com]
Larry Miller
Executive in Residence
Innovation Works
2000 Technology Drive
Pittsburgh, PA 15219-3109
Phone: (412) 894- 9515
Cell: (330) 256-5542
Fax: (412) 681 -2625
email: lmiller @innovationworks .org
www.linkedin.com/in/llarrymiller
Listen to interview at: http://www.positivelypittsburghlivemagazine.com/broadcast.php?IdChan=2&IdItem=1
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