By directly investing $5.4 million in 84 companies last year, Innovation Works became the third most active seed-stage investor in the country.

That was just one of the accomplishments the Hazelwood-based economic development group trumpeted at its fourth annual community meeting, held at biotech firm Immunetrics Inc.’s headquarters on the South Side.

More than 430 jobs were created and retained by Innovation Works-supported companies, which also received $149 million in follow-on funding. Twenty-six portfolio companies, including Cohera Medical Inc., Aethon Inc. and ClearCount Medical Solutions Inc., raised more than $1 million in follow-on funding.

In 2007, the nonprofit invested $6.1 million in 67 companies. Twenty-four portfolio companies’ follow-on investment passed the $1 million mark.

In 2009, the organization will turn its attention to the commercialization of clean energy in southwestern Pennsylvania.