Three Rivers Venture Fair Opens

Angel and venture capitalists converging on PNC Park for the Three Rivers Venture Fair are following a five-year trend that shows Pittsburgh has been a solid bet in an unstable economy. 

A report released Wednesday by New York-based accounting firm Ernst & Young LLP and South Side-based seed stage investor Innovation Works notes the Pittsburgh region saw increased deals and investment during a time when both were stalling nationwide. 

In 2012, the number of venture deals nationally declined 6 percent and the number of dollars invested dropped 10 percent, from $29.5 billion the previous year to $26.5 billion last year. But the Pittsburgh region saw a 54 percent increase in the number of investment deals and a bump up in investments from $326.9 million in 2011 to $329.1 million in 2012. 

From 2008 to 2012, the region saw $1.3 billion in early-stage technology investments and nearly doubled the number of investments for very-early-stage companies. Between 2011 and 2012, 28 regional companies made exit deals worth $2 billion in disclosed value. 

That sounded pretty good to tech entrepreneurs who gathered at Wednesday's kickoff of the Three Rivers Venture Fair, as they look to snag investors. 

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Pittsburgh Highlighted for Growing Entrepreneurship

Pittsburgh is in the spotlight on Entrepreneurship.org for its growing economy, a good sign that the city's renaissance is still alive and well. check out the link below to see the videos on

Thirty years ago, Pittsburgh was given up for dead. City leaders realized that if the town were ever to recover it would need a more diversified economy and that entrepreneurship would be key. The stories below explore how Pittsburgh went about creating a new entrepreneurial ecosystem and the challenges it still faces.

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Pittsburgh Stands Out Among American Cities

Pittsburgh has once again proven its resilience to the national economic slump. A recent Allegheny Conference showed that Pittsburgh's long term focus on job growth has certainly paid off:  

• The Pittsburgh Regional Alliance (PRA) reports 269 economic development deals (or wins) in terms of investment and development projects. The deals are expected to create 8,388 new jobs in the region over the next few years and retain 3,422 jobs to a total employment impact of 12,000 jobs. 
• A total $3.2 billion in capital investment was reported in 2012, the highest amount since 2007 when the record-keeping began. Investment projects were $1.8 billion, $750 million more than 2011. Development projects totaled $1.4 billion. 
• 2012 marked a year of record-high employment and Pittsburgh position as a national leader for job growth in high-wage industries.

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