Gsvlabs Reveals The City of Pittsburgh as the Next Home of One of its Innovation Hubs


(San Mateo, CA and Pittsburgh, PA) The City of Pittsburgh, Pennsylvania U.S.A., is the county seat of Allegheny County.  In the year 2018, the population was estimated at, 302,407 people.  The latter, makes Pittsburgh the 66th largest city in the U.S.A.  Pittsburgh is referred to as, the Steel City.  Additionally, it is located where the Allegheny River, the Monongahela River and Ohio River meet.  Interestingly, Pittsburgh’s Hazelwood Neighborhood is located next to, the Monongahela River.  One more step forward, Hazelwood Green is a new re-development area that, is located in the Hazelwood Neighborhood.  Recently, Gsvlabs announced that, it is doing something in Hazelwood Green.  Specifically; the aforementioned business revealed that, Pittsburgh’s Hazelwood Green, will be the next home of one of its Innovation Hubs.  Specifically; Gsvlabs’ Innovation Hub in Pittsburgh, will be a long term leased office space, in Roundhouse. 
            Gsvlabs’ Innovation Hub that, will be located inside Hazelwood Green’s Roundhouse, is scheduled to open sometime next year.  Technically, the scheduled opening, is during the second business quarter of the year 2021.  Additionally, this project is well aligned with the vision, which was established by Almono, LP.  However and returning to; Hazelwood Green, the aforementioned re-development area, was once an industrial area.  In fact, it was once the site of the Jones & Laughlin Steel Company (The J&L Company).  Later on, Hazelwood Green became the home to LTV Steel.  In the year 2002, LTV Steel sold Hazelwood Green to Almono, LP.  The latter; is made up of the following organizations.  The organizations are Richard King Mellon Foundation, The Heinz Endowments and the Claude Worthington Benedum Foundation.  Almono, LLC is the business entity that, manages the partnership, along with, the projects.  As a re-development area, Hazelwood Green is envisioned to become the following.  What is envisioned is a world-class model for sustainable development.  Therefore, the following will be inside Hazelwood Green; office spaces, research spaces, development spaces, light manufacturing spaces, housing units, retail spaces, public green spaces, trails and transportation. 
            Returning to, Gsvlabs’ Innovation Hub in Pittsburgh, the aforementioned aims at keeping Pittsburgh’s entrepreneurs in the City of Pittsburgh.  It is hoped that, the previously said can be accomplished, through, the following manner.  Through collaboration with local organizations, investors, enterprises and universities is how Pittsburgh’s entrepreneurs; will be kept in the city.  Additionally, the Innovation Hub will regularly put on community events and programs.  Furthermore; the Innovation Hub will provide local entrepreneurs with co-working spaces, an events space, flexible workshops, training rooms, access to Gsvlabs’ Passport, access to a resource library and Gsvlabs’ network.    
            Sam Reiman is the Director of the Richard King Mellon Foundation.  The latter, is a member organization of Almono, LP.  Through a press statement, Mr. Reiman said the following.  “GSVlabs’ decision to locate in the historic Roundhouse at Hazelwood Green was more than two years in the making and represents another positive step forward in Pittsburgh raising its profile as a destination for entrepreneurs, talent, and investment capital.  With Carnegie Mellon University, Aptiv and now GSVlabs at Hazelwood Green, there is growing momentum for us to build Pittsburgh’s—and the Country’s—new economy right in our own backyard—through the sustainable re-use of a historic site where the old economy was forged.”  William Peduto is the Mayor of the City of Pittsburgh.  Through a press statement, Mayor Peduto said the following.  “As the first national startup accelerator to set up a permanent location in Pittsburgh, GSVlabs is demonstrating confidence in the vision established for Hazelwood Green as a place where innovation is fostered, anchored by the p4 Principles of people, planet, place, and performance.  GSVlabs’ commitment to sustainability, together with their plans to engage the community through educational and training opportunities and events, reflects that vision, and we look forward to welcoming them to Pittsburgh.”  Rich Fitzgerald is an Executive at Allegheny County.  Through a press statement, Mr. Fitzgerald said the following.  “It’s exciting to see this region continually recognized as a hub for innovation, growth, opportunity and ideas—and today’s announcement that Hazelwood Green has been selected by GSVlabs is no exception.  We’re delighted to see the investments made into Hazelwood Green bearing fruit.  The addition of GSVlabs at the Roundhouse underscores the benefits of being in close proximity to our universities and to those businesses whose partnerships will allow the company to continue to grow.”
            Continuing with, Gsvlabs, the aforementioned is a portfolio company of GSV Capital.  Interestingly, the GSV part means, Global Silicon Valley.  GSV Capital, is a publicly traded venture capital firm.  Therefore, it is committed to an accelerated investment, in dynamic businesses.  Additionally, these venture capital backed businesses are expected to become, “The Stars of Tomorrow.”  In turn, Gsvlabs picks up the previously mentioned commitment.  Currently; it reports that it has more than 20,000 members, 450 investors and more than 100 enterprise partners.  The latter, happens as network operations of a global innovations platform.  This global innovations platform is called, Passport.  Gsvlabs’ Passport is meant to empower entrepreneurs, whilst simultaneously, democratizing business innovation.  A physical location, of the Gsvlabs’ Passport is an Innovation Hub.  One of the goals of an Innovation Hub, is a connection to the U.S.A.’s Silicon Valley.
            To end, Gsvlabs (NASDAQ:  GSVC) did release a press statement.  Nikhil Sinha is the Chief Executive Officer of Gsvlabs.  Through a press statement, Mr. Sinha said the following.  “We are extremely excited to bring GSVlabs to Pittsburgh, as we continue to expand our footprint not just with our global online platform, but in supporting emerging innovation markets around the world with our Innovation Centers.  We see huge potential in Pittsburgh’s rapidly growing market of entrepreneurial and startup activity, with its expanding network of unprecedented university talent and engineering, AI, and data science expertise.  It’s an exciting time to be part of Almono’s vision to build the nation’s next innovation hub in Pittsburgh.”  As previously stated; Gsvlabs recently announced that, it is doing something in Hazelwood Green.  Specifically; the aforementioned business revealed that, Pittsburgh’s Hazelwood Green, will be the next home of one of its Innovation Hubs.  Specifically; Gsvlabs’ Innovation Hub in Pittsburgh, will be a long term leased office space, in Roundhouse.  Lastly; Gsvlabs’ Innovation Hub, is scheduled to open sometime during, the second business quarter of the year 2021. 

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Written from Press Release
Registered Writer with
PR Newswire Association, LLC
R-Berumen28
03/06/2020





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