PITTSBURGH, April 18 /PRNewswire/ -- Innovation Works, Inc., a community- funded southwestern Pennsylvania investment organization, today announced its joint internship program with Lycos, Inc., the Internet's leading multi-brand network. This is the first corporate alliance for Innovation Works in which it will create unique opportunities for students from Carnegie Mellon, the University of Pittsburgh, and Duquesne University. The internship program is set to begin in May. Approximately 12 interns a year will participate in the program that will initially run for two years. Six will be placed at Innovation Works and will work directly with Innovation Works' portfolio companies, two will be placed at Lycos Ventures' Pittsburgh office or at one of its Pittsburgh area portfolio companies, and up to four will be placed at Lycos' main offices in Waltham, Mass. "Our intern agreement with Lycos offers an exciting and rewarding set of opportunities for students from our local universities while also providing a direct benefit to many local early stage technology companies that will be working with these high energy, very bright young people," said Doug Goodall, president and CEO of Innovation Works. "It is also my expectation that, by experiencing first hand the challenging and high growth potential of our region's new technology companies, many of these interns will elect to stay in Pittsburgh after graduation." "Lycos is pleased to join Innovation Works in providing this opportunity for university students," said John McMahon, chief human resource officer at Lycos. "We believe this program will benefit both the students and the companies they join." About Lycos, Inc. Founded in 1995, Lycos, Inc. is a leading Web media company and owner of the Lycos Network, one of the most visited hubs on the Internet reaching nearly one out of every two U.S. Web users. The Lycos Network is a unified set of Web sites, attracting a diverse audience by offering a variety of services, including leading Web search and navigation resources; Web community and communications services including free homepage building, free Web-based e-mail, clubs, chat, instant messaging; a personalized My Lycos start page; a comprehensive shopping center featuring more than 2,400 merchants; and an assortment of compelling content such as games, music, news, fun and educational information and activities for kids as well as information about investing, technology, entertainment, sports, small business, travel and more. The Lycos Network is composed of Lycos.com, Tripod, WhoWhere, Angelfire, MailCity, HotBot, HotWired, Wired News, Webmonkey, Suck.com, Sonique, Quote, Gamesville and Lycos Zone. Headquartered near Boston in Waltham, Mass., Lycos, Inc. is a global Internet leader with a major presence throughout the U.S., Europe, Asia and Latin America. About Innovation Works Innovation Works' mission is to increase the new enterprise success rate in southwestern Pennsylvania by insuring that high-potential technology companies have efficient access to the right people, expertise, and risk capital. Innovation Works invests in firms that develop high-technology products or services; have fewer than 100 employees; and reside in Allegheny, Armstrong, Beaver, Butler, Fayette, Greene, Lawrence, Washington or Westmoreland county. Please call 412-681-1520 or visit www.innovationworks.org for more information.
SOURCE Innovation Works, Inc.