Pittsburgh, PA. — Summa Technologies, Inc., has formed Summa VentureWorks as part of an ongoing, strategic effort to establish partnerships and capture innovative reusable technology and/or new product concepts.
Summa VentureWorks has a single, fundamental requirement to consider an investment: that the partner has an original, unique idea for how to address a common business problem that can be solved by software. Potential partners do not have to be formally organized or incorporated, or even be composed of more than one person.
“We are looking for great ideas,” said Ed Engler, Summa’s Chairman and CEO. “Summa VentureWorks will focus on turning intelligent concepts into marketable software, which for us is an exhilarating prospect. And, because we are a Pittsburgh company, we’re excited to be taking an active part in building the local entrepreneurial community.”
Unlike traditional venture capital firms, those receiving Summa funding will also get technical development services from the company to help speed time-to-market in exchange for use of the resulting technology in Summa Technologies’ client engagements. In addition, Summa VentureWorks partners will benefit from early exposure to Summa Technologies clients who are potential partner customers.
Summa Technologies, Inc. provides organizations with lead architects, senior developers and project managers to deliver technology services to design and implement scalable, secure and reliable component architectures, middleware and transactional systems using Java, Enterprise JavaBeans (EJB), CORBA, and C++. Founded in 1996, the company grew 300 percent in 1999 building large-scale Internet- and intranet-based applications using EJB and a variety of other GUI, middleware and database technologies. Partners include BEA, Hewlett Packard, IBM, and Sun Microsystems; customers include Fortune 500 companies in Financial Services, Healthcare and Telecommunications, and a number of emerging e-commerce companies. Summa recruits the best talent and takes exceptional care of its employees and its customers.