Innovation Works and Lycos Establish Joint Internship Program

    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.

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