Innovation Works Announces Sandy Ferguson as Chairman of the Board; Plans to Continue Previous Chairman's Initiatives

    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.

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