PITTSBURGH, Nov. 10 /PRNewswire/ -- Innovation Works, Inc. announced today
that John R. Hammer has joined the organization as Chief Financial Officer and
Chief Investment Officer. In this position, Mr. Hammer is responsible for
overseeing the financial operations of Innovation Works and capitalizing
technology companies in accordance with the organization's new mission.
(Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/19991012/PHTU030 )
Prior to joining Innovation Works, Mr. Hammer worked as a director for
Axia Partners, LLC, a New York City based investment bank and management
consultancy specializing in early-stage technology firms. In this role, he
managed consultancy and investment banking operations. He also headed Capital
Access Partners, an investment and strategy advisory firm focused exclusively
upon counseling and raising capital for early-stage telecommunications,
electronics, software, Internet, and medical device ventures. Other positions
held by Mr. Hammer include vice president at Weatherly Private Capital, a New
York merchant bank, and MMC Group, a Pittsburgh leveraged buy-out firm.
Mr. Hammer is the latest addition to Innovation Works' expanding staff of
seasoned high-tech professionals who bring private industry experience to
Innovation Works' companies. "John's experience is essential to implementing
our new funding approach which is investment driven versus grant oriented.
John will help us assess the financial quality of investments and structure
payback terms that are mutually beneficial to both Innovation Works and
entrepreneurs," said Douglas Goodall, President and CEO of Innovation Works.
"Innovation Works provides tremendous opportunity for quality technology
firms to obtain funding where few other investors dare tread," said Mr.
Hammer. "I am quite excited to be a part of this process and have the ability
to contribute and shape the methodology that will be in place for years to
Mr. Hammer has a Bachelor of Science degree in Industrial Engineering from
Northwestern University and a Master's of Business Administration from the
University of Pittsburgh's Katz Graduate School of Business. Mr. Hammer and
his wife reside in Pittsburgh, Pa.
Innovation Works is a community-funded investment organization that
emerged from the Ben Franklin Technology Center of Western Pennsylvania and
the Enterprise Corporation. 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; are less
than three years old; 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.