Our Mission

Idea Foundry invests in and works alongside global and local entrepreneurs to transform innovative business ideas into viable commercial activities, facilitate business growth, and leverage international programs to build and reinforce global and local economic ecosystems.

Our Leadership Team

Michael Matesic

President and CEO

mmatesic@ideafoundry.org

Jay Murray

Director, EMEA

jay.murray@ideafoundry.org

Lindsey Matesic

Director, Latin America

lmatesic@ideafoundry.org

Interested in joining our team?
If you're interested and still a student, you can find us on Handshake.
For anyone else, please send resume and cover letter to info@ideafoundry.org.

Our History

Idea Foundry is influenced in part by Pittsburgh’s hard-working, steel-town history and its resilience after the heyday of steel ended.
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Working in harmony with the strong base of university-led science and technology research in Pittsburgh, Idea Foundry has been able to support companies that have pushed the boundaries of life-sciences, intelligent systems, robotics, and more. Capitalizing on this strong research base, we launched the region’s first accelerator, not just in name, but literally to accelerate the process of commercialization in our region.

Idea Foundry was also the first in the region to develop a program and accelerator specifically targeting social enterprise companies which aim to drive social or environmental impact along with creating a profitable business. Portfolio companies have made breakthroughs in the fight against human trafficking, affordable housing, local agricultural solutions, and fostering economic opportunity in the region and the globe.

A Brief Timeline

Since 2002, our team has helped more than 250 companies obtain the resources necessary to take advantage of the economic opportunities within the Pittsburgh region and internationally. From our efforts, we have created thousands of Pittsburgh jobs and over $1 billion in direct economic impact.

2002

2008

Founded in 2002, Idea Foundry launched the region’s first accelerator program and have incorporated social impact into our selection process from our inception.

Idea Foundry has been active in connecting Pittsburgh with the globe for the last decade.

2010

2016

A subsidiary of Idea Foundry, Pittsburgh Regional Investment Center was founded.

Our initial program, The Transformational Fellowship, has evolved into our Impact Innovation Program and its portfolio has grown and created impact throughout the world.

2018

2021

We designed our award winning Equitable Entrepreneurship program to specifically address barriers that some minority and immigrant communities have faced in securing resources for their business opportunities.

Idea Foundry fully transitioned from domestic to global investing.

Our City

Pittsburgh: An Industrial History Transformed into an Innovation Hub

While Pittsburgh may still be known for its steel heritage, it is a city reborn through education, medicine, and innovation and is now attracting industry-leading companies, both nationally and internationally.

Companies like Google, Facebook, and Uber have major research and development offices in Pittsburgh. With more than 29 colleges and universities throughout the city, including world-renowned institutions such as Carnegie Mellon University and the University of Pittsburgh, Pittsburgh has access to a large talent pool.

Its location is also within a day's drive of other major East Coast cities including Boston, New York, Washington D.C., Philadelphia, and Chicago. However, in comparison to these cities as well as tech hubs on the West Coast, Pittsburgh has a considerably more affordable cost of living. For this, plus Pittsburgh's vast array of cultural amenities suitable for all types of people, Pittsburgh has consistently been ranked among the "most livable" cities in the United States.