Pittsburgh’s growing ecosystem saw significant exits and funding rounds in 2021, including Aurora Innovation, a $11 billion autonomous vehicle startup that went public in November. Startups Argo AI, Motional, Waymo, and a dozen other mobility companies have further solidified Pittsburgh’s standing as a global hub for self-driving technology. A funding boom in Life Sciences, Robotics, and Cleantech is also helping to diversify the city’s startup ecosystem, with one example of success being Cognition Therapeutics raising $45 million in its October 2021 IPO. This Life Sciences company is developing a pipeline of cutting-edge Alzheimer’s treatments.

Pittsburgh is home to two world-class research universities - Carnegie Mellon University (CMU) and the University of Pittsburgh — as well as two other major research institutions and dozens of other post-secondary institutions. The ecosystem continues to be home to one of the greatest concentrations of research and tech talent in the U.S., and a community of purpose-driven builders, makers, and innovators has grown up around this nucleus. 

Pittsburgh’s tech startup community also has a focus on ensuring diversity in the sector. Black Tech Nation offers education and funding for Black technologists, and its new $50 million fund will focus on early-stage startups with Black founders. Other VCs are also doing their part — Innovation Works and Magarac Venture Partners are prioritizing investment in diverse founders, and Next Act Fund backs early-stage, women-owned or -led companies. 

Local success stories inspiring and anchoring the ecosystem include language-learning app Duolingo, which IPO’d in August 2021 at $6.5 billion, and corporate bases including Facebook Reality Labs, Amazon Alexa, Bosch, Philips, Apple, and Google.