University of Pittsburgh and University City Science Center in Philadelphia Join Forces to Commercialize Early-Stage Technologies

PHILADELPHIA (January 30, 2017) — The University of Pittsburgh is the newest academic participant in the University City Science Center’s Phase 1 Ventures program. To launch their partnership, the Science Center and the University of Pittsburgh Innovation Institute are collaborating to commercialize a Pitt-developed technology for accurately aligning lower-limb prostheses.

Phase 1 Ventures (P1V) is a startup accelerator for launching companies around “long horizon” technologies that typically require significant development and/or regulatory approvals, such as healthcare, materials, or energy. Entrepreneurs are either matched to a technology at one of P1V’s participating universities or enrolled as part of a previously formed company that has not yet raised financing. Since it was launched in 2015, P1V has committed a total of over $1.3 million to participants, typically as the first investment. These participants have raised a total of over $1.6 million in non-dilutive funding and $250,000 in follow-on investment to date.

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