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Alphalab in Pittsburgh decides after Y Combinator. They generally seem very reputable. The main negative is they have a "stay in Pennsylvania" provision -- if y
by rms 18y ago
Alphalab in Pittsburgh decides after Y Combinator. They generally seem very reputable. The main negative is they have a "stay in Pennsylvania" provision -- if you leave PA, you have to pay back the $25,000 and they keep their 3% equity. They have this because they are funded by the state of PA and the ultimate goal of the funding is to create jobs in Pennsylvania.
- falsestprophet 18y agoIf the company is even minimally profitable, paying $25k for mobility may be a good trade.
- skyfaller 18y agoTheir FAQ at http://www.alphalab.org/faqs.aspx http://www.alphalab.org/faqs.aspx suggests you have to stay in Pittsburgh, which is smaller than Pennsylvania. Even the option to move to Philadelphia would make this more attractive.
- skyfaller 18y agoOn the other hand, their About page at http://www.alphalab.org/about.aspx http://www.alphalab.org/about.aspx says "As Innovation Works utilizes funds from the Commonwealth of Pennsylvania, each company receiving funding is expected to maintain a significant presence in Pennsylvania after the program." I guess you would have to ask them for a clearer response, but perhaps they would be OK with anywhere in PA.
- rms 18y agoI'm pretty sure you're allowed to move to Philadelphia.