I  Idea Foundry


     Office Locations:

4551 Forbes Ave., Suite 200
Pittsburgh, PA 15213
Phone: 412-682-3067
Fax: 412-682-3068



  • Early
  • Seed



  • Communications & Networking
  • Education & Training
  • Energy & Clean Tech
  • Information Technology
  • Life Sciences & Healthcare
  • Manufacturing & Industrial
  • Medical Device
  • Software & Internet
  • Sports & Entertainment



    Founded in 2002, Idea Foundry is a non-profit organization that supplies the critical ingredients to transform an entrepreneur's business idea into a Pennsylvania-based, fundable start-up. The Commonwealth of Pennsylvania and regional foundations support Idea Foundry's initiatives by funding fellowships that are awarded to selected individuals and their ideas. The cornerstone of Idea Foundry is its Transformation Fellowship Program, which provides funding and support services to bridge very early-stage, commercially viable ideas to the point where they can be seed funded by outside investors or be self-sustaining. An individual Transformation Fellowship of up to $100,000 will be spent on resources used in developing the business idea from a commercial perspective i.e. stipends, computer equipment, legal fees, etc. as required for development. Each idea submitted will be researched and, if selected, funded appropriately based on the specific needs to commercialize that idea. Since its inception, Idea Foundry has helped launch over 85 technology companies in a wide variety of industries, including Life Sciences / Healthcare IT, Energy Efficiencies / Green Tech, Advanced Materials, Entertainment Technology, Education, and Information Technology. Idea Foundry companies have gone on to create over 580 jobs, launch more than 90 products, raise over $290 million in follow-on funding, and earn over $266 million in revenues.

    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Gary Gardiner Manager
    Michael M. Matesic Chief Executive Officer
    Nehal Bhojak Director


    Portfolio companies include:

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      ADMA Technologies
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      Apangea Learning
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      Appiled Computational Technologies
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      Astrobotic Technology
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      Buzby Networks
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      Cartesia Dx
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      Cellular Tracking Technologies
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      ClearCount Medical Solutions
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      Clearspring Technologies
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      Compostable Soil
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      Content Vision
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      Electric Owl Studios
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      First Insight
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      Fossil Free Fuel
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      Guerilla Mobile
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      Helium Networks
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      Industrial Learning Systems
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      Just Between Friends
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      Luminate Technologies
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      My RightNote
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      STARR Life Sciences
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      threeRivers 3D
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