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From their FAQ: "14) Do we have to stay in Pittsburgh after the program ends? Companies are expected to remain in Pittsburgh after the end of the AlphaLab pro
by sr3d 18y ago
From their FAQ:
"14) Do we have to stay in Pittsburgh after the program ends?
Companies are expected to remain in Pittsburgh after the end of the AlphaLab program. Our goal is to help you build a successful technology company and to add to the critical mass of flourishing tech companies in the Pittsburgh region. We believe that Pittsburgh is a great place to build a company and after your experience at AlphaLab we are confident that you will agree."
Is this a legal agreement? It is still a bit surprising to me that you are still "expected" to tie down your company to a specific location. Maybe some ex-AlphaLab-er can shine in some light here.
- thejash 18y agoBasically, if after signing the agreement and being part of the program, if your company decides that it needs to go somewhere else and have no presence in PA within the next few years, you have to give back the $25K. That's it. It's not that bad if you think about it--if you get any later-stage funding, $25K is a small price to pay to allow you to move somewhere else.
- rjurney 18y agoSelf-enforcing. They're going to bat for you with early customers, later rounds of funding, etc. and if you don't display integrity you lose their connections and then some, I imagine. edit: Oh, whoops! Not simply self-enforcing, as the other reply indicates. Still, I think it would be.