CLOUD

PITTSBURGH, PA -- As part of its comprehensive approach to technology transfer and commercialization, the University of Pittsburgh today announced a strategic alliance with MIT, through its Institute for Entrepreneurial Excellence (IEE) at the Katz Graduate School of Business and the local office of the MIT Enterprise Forum. As a leading regional provider of educational and consulting services to start-up companies and small businesses, Pitt is partnering with the MIT Forum of Pittsburgh in order to provide additional opportunities for interaction among students, entrepreneurs, innovators, venture capitalists and other business-people. In addition to creating value-added networking opportunities in the region through scheduled events, the Pitt/MIT collaboration will facilitate access to expertise from nationally prominent sources. "This is a very important step in strategic partnering for both the University and the regional community," said Frederick Winter, Dean of Pitt's Katz Graduate School of Business. "By combining the strengths of two great institutions in entrepreneurial development, we are building the infrastructure for turning ideas into viable enterprises that can be developed and commercialized in the region." "The Forum was ready to expand," according to Dave D'Appolonia, Chairman of the MIT Enterprise Forum of Pittsburgh, "and we found the Institute for Entrepreneurial Excellence the best match for our initiative." Through their suite of programs, the IEE is already tapped into a thriving and connected entrepreneurial community." The Forum encourages learning and interaction among its members -- entrepreneurs, businessmen, investors and students -- by providing a program of public events during which emerging Western Pennsylvania companies discuss their business plans and visions with recognized experts in open panel discussions. Through distinguished lecture series and satellite program presentations, the Forum also provides access to nationally renowned experts on a variety of subjects. The IEE will host the MIT Enterprise Forum and conduct at least twelve events focused on technology transfer issues within the next year, including the first satellite downlink, "Cashing Out Successfully: Exit Strategies to Capture Value," scheduled for September 11, 2001. Additional proposed subjects include "Technology Licensing," "Who's Going to Buy My Licensed Product," and "Building A Team to Match Your Technology." Most events will be held in the newly renovated Masonic Temple on Pitt's main campus in Oakland. Ann Dugan, Executive Director of the IEE says, "We anticipate that the MIT Forum will provide an ideal partnering opportunity for the tenants of our virtual technology incubator, PantherlabWorks, enabling them to become deeply involved in an environment that can challenge and assist them in taking their ventures to the next level. We are very pleased with the synergy being created through this association and look forward to a long and healthy partnership."