PITTSBURGH, Sept. 7 /PRNewswire/ -- Today, Innovation Works announced the appointment of Sandy Ferguson as Chairman of the Board. Mr. Ferguson succeeds William Hulley, principal with Adams Capital Management, who served as Innovation Works Chairman since January 1999. (Photo: http://www.newscom.com/cgi-bin/prnh/19991012/PHTU030 ) Mr. Hulley led the Board in reinventing the organization to focus exclusively on assisting early-stage entrepreneurs within the region's high- tech community. Drawing on his venture capital background, Mr. Hulley successfully led the development of an investment model for Innovation Works that supports the funding and growth needs of start-ups while meeting state requirements. He also championed the concept of a resource network to accompany Innovation Works' investments that would maximize entrepreneurial success and bridge the gap between the region's established firms and new economy companies. "Bill did an excellent job building the foundation for the Innovation Works mission," said Florence E. Mendelson, President of Innovation Works. "The success of his initiatives has re-established the organization's credibility and created a launching pad for future success. Now we're excited to work with Sandy to launch the rocket." "I thank Bill for his tremendous contributions to Innovation Works," said Mr. Ferguson. "He coached a new board to work together effectively to accomplish a great deal. We will build on his platform to continue Innovation Works' evolution as the region's preferred resource for moving high-tech entrepreneurs from ideas to fundable companies that attract institutional investment. " During Mr. Ferguson's tenure, Innovation Works is expected to complete the start up of iw.Net, its resource network; continue to develop the staff as an effective service team; and make some refinements to its investment model. Innovation Works will also re-invigorate the Pittsburgh Private Investor Network to play a key role in pre-institutional funding. Most recently, Mr. Ferguson was President and COO of Solutions Consulting, headquartered locally, which provides Supply Chain Management (SCM), Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), and eCommerce solutions to mid-sized manufacturing and distribution companies. Prior to this position, Mr. Ferguson was a partner with Kirkpatrick & Lockhart where his practice focused on business planning, technology issues and financing issues. Mr. Ferguson is also Chairman of United Way of Allegheny County. Innovation Works is a non-profit, community-funded investment organization that invests in firms which develop technology products or services for high- growth markets; have fewer than 100 employees; and reside in Allegheny, Armstrong, Beaver, Butler, Fayette, Greene, Lawrence, Washington or Westmoreland county. Please visit www.innovationworks.org for more information or call 412-681-1520.
SOURCE Innovation Works, Inc.