Discover the top startup incubators in Illinois designed to propel new ventures. Explore our comprehensive list for your business growth.
Entrepreneurs in Illinois have many options for startup assistance and entrepreneurial support. The state offers a strong array of business incubation programs. These programs help with venture growth resources. They include tech hubs, health platforms, real estate tech accelerators, and broad incubators.
In Illinois, many incubators stand out. The TechNexus Venture Collaborative, started in 2007, is one of them. It has invested in 153 ventures and achieved 11 exits in areas like AI, VR, AR, IoT, and analytics1. Techstars Chicago, which began in 2010, has aided over 3,000 companies. It provides up to $120,000 in funding and made 133 investments with 26 exits12.
Healthbox, focused on healthcare, began in 2010. It has made 97 investments with 12 exits1. REACH, started in 2012, concentrates on real estate technology. It has helped over 140 companies12. These incubators offer financial investments, mentorship, and resources. They create a great environment for success in Illinois.
University-backed incubators also play a big role. EnterpriseWorks at the University of Illinois Urbana-Champaign supports close to 60 startups3. The Polsky Center has helped over 160 companies globally. It has contributed to over $4 billion in mergers and exits. It also raised $575 million in funding3.
Startup incubators in Illinois are key to growing the state's innovative business scene. They provide entrepreneurs with the tools and advice needed to develop their ideas into successful companies. Incubators offer crucial resources like funding, workspaces, mentoring, and chances to meet others in the field. A top choice is EnterpriseWorks, with its 23 specialized wet labs for different industries, meeting the varied needs of startups4.
The Midwest I-Corps Node gives startups access to I-CORPS programs. This helps them test their innovative ideas. These programs have steps that help them from the start to when they are ready to sell their product. Some programs can last from 3 to 12 months5.
Some incubators focus on specific fields like life sciences and manufacturing. For example, IndieBio and Chain Reaction Innovations support these sectors. The Financial Solutions Lab offers up to $100,000 to successful fintech startups. In the same way, mHUB and Techstars also provide significant investment and support, with mHUB offering up to $75,000 for equity and Techstars giving $120,000 for a 3-month program5.
These incubators help startups more likely to succeed, with EnterpriseWorks supporting businesses for 3 to 5 years. Illinois incubators support many industries, including music, film, food and drink, healthcare, and AI. This shows Illinois's commitment to a strong and diverse business community5.
Illinois is a key player in helping technology startups grow. It's known for its top tech incubators like TechNexus Venture Collaborative, 1871, and the University Technology Park at Illinois Tech. These places play a big part in advancing tech areas like AI, VR, and IoT. They offer crucial support including money, advice, and connections to experts and innovative tools. This makes Illinois a top spot for tech entrepreneurs to find what they need to succeed.
TechNexus Venture Collaborative is vital to Illinois' startup community. It has supported more than 350 local companies6. The incubator helps with money, mentoring, and making valuable connections. This help is key for startups wanting to do well in the competitive tech world.
1871 stands out too, hosting over 400 digital tech startups. It recently got bigger, adding 40,000 square feet to its area6. With services like shared workspaces, mentoring, and exclusive events, 1871 boosts startups. It offers great chances for networking and learning new skills. For more info, visit their website.
University Technology Park at Illinois Tech is a key part of Illinois’ tech scene. It provides specialized support and tools for tech startups at different stages. Located at Illinois Tech, it gives easy access to excellent research facilities and a lively academic scene.
In Illinois, vital health-focused startup incubators play a big role. They focus on helping Healthcare Startups Illinois grow. This is done by giving them strategic support, resources, and chances to connect with others.
Located in Chicago, Healthbox supports startups in many areas like patient care and artificial intelligence7. They offer money and help with creating products. This helps new companies deal with rules and grow. Healthbox is known for its help in the Health Tech Business Support area.
MATTER, another top incubator in Chicago, helps startups with a network of healthcare experts7. They focus on helping companies make new medical devices. People like David Ormesher and Laura Ferris Anderson guide these new companies7.
Insight Accelerator Labs offers special support for healthcare startups in Illinois. They provide top-notch facilities and connect startups with experts. This helps startups understand the healthcare field better. Their focus on Medical Innovation Incubators shows they are a major support in health tech.
These incubators in Illinois are key in supporting Health Tech Business. They turn new ideas into real health solutions. They show Illinois' commitment to growing healthcare startups.
Universities in Illinois are key in helping new ideas grow through incubators. These programs support student startups, turning advanced research into real businesses.
Located at the University of Illinois at Urbana-Champaign, EnterpriseWorks Technology Incubator is a major part of Research Park. It gives startups mentoring, financial resources, and modern facilities. Academic incubators like EnterpriseWorks offer great help to student startups needing resources and advice.
The Garage at Northwestern University stands out for encouraging collaboration among students from different fields. Each academic quarter, it supports about 60 student startups3. More than 1000 students visit The Garage every month, showing its support for student startups3.
The Polsky Center at the University of Chicago is famous for its wide range of services for new businesses. It helps student and faculty startups alike. By connecting with Chicago's vibrant startup scene, it helps with early funding and builds an innovation community. From the second half of 2021 to 2023, Chicago's startup scene grew 36%, with early funding reaching $1.8 billion during the same time8.
These incubators show the strong role of university incubators in Illinois. They offer mentorship, money, and team spaces, helping student startups succeed. For more incubators in Illinois, click here8.
In Illinois, the real estate sector benefits from specialized incubators like REACH and Moderne Passport. These programs support startups in real estate technology. They provide access to capital, mentoring from industry experts, and connections with real estate professionals. This helps speed up the growth and adoption of their products.
REACH is a program by the National Association of Realtors designed for Proptech Incubators Illinois. It helps growth-stage companies grow and play bigger roles in real estate tech. Startups working with REACH can connect with a large network of investors and professionals. This is crucial for creating partnerships and scaling their operations. Many startups have tapped into new trends and used REACH's resources to strengthen their market presence.
Moderne Passport stands out among Real Estate Startup Accelerators in Illinois. It's a 7-month program that picks innovative property tech ventures. The program helps them refine and market their solutions. With guidance from real estate industry veterans and insights into market needs, they successfully launch Property Technology Innovations.
From 2012 to 2016, Illinois universities produced over 800 startups, nearly double from 2009 to 2013 [source]9. About 76% of these startups are still active or have been acquired, with 81% staying in Illinois. This thriving ecosystem is supported further by specialized incubators like REACH and Moderne Passport. They highlight the value of industry-specific programs in advancing property technology solutions.
Illinois has many incubators helping sustainable startups and green tech. They help grow innovation-focused entrepreneurship by offering resources, guidance, and funds. This helps bring eco-friendly solutions to the public.
IncubEx supports sustainable startups in Illinois focusing on agriculture, energy, and climate tech. They work together with businesses to expand and positively impact the environment.
Sandbox Industries is based in Chicago and supports innovation-focused entrepreneurship in health and agri-tech. They have a strong network of investors and experts to help startups launch sustainable solutions.
Evergreen Climate Innovations invests in new clean energy firms. They aim to speed up tech that fights climate change and boosts the economy. This incubator leads in helping startups in the Midwest10.
Illinois is at the forefront of pushing sustainable startups and green tech through its incubators. These places offer vital support, money, and guidance, helping entrepreneurs succeed.
Incubators for all industries provide crucial support across various sectors. They are key for the development of diverse startups in Illinois. They welcome founders of any industry with open arms. These incubators offer tailored support to meet unique needs. Through them, startups can refine their business approaches. They also help connect with experienced mentors.
Since 2010, Techstars Chicago has boosted diverse startups in Illinois11. Holding the 143rd spot, it focuses on consulting, financial services, and venture capital11. It aids startups through intense programs and access to a vast mentor network12. Techstars Chicago gives startups what they need to grow smarter and faster11.
StartUp Port also greatly assists Illinois' startups. It aims to develop a variety of startups by offering key incubation services. It helps refine business tactics, aiding entrepreneurs to understand market challenges. The incubator’s wide-ranging resources promise deep and widespread support for founders, fostering their overall growth.
Bunker Labs, also known as The Bunker, focuses on veterans. It helps them grow their businesses, no matter the industry. This org provides vast support to startups led by veterans. They grant access to crucial incubation services. Specialized mentoring and networks help them join the larger startup community. The Bunker’s commitment to inclusivity and support is unmatched in Illinois.
Illinois is home to a strong network of incubators focused on financial and FinTech startups. The Financial Solutions Lab stands out here. It helps companies that can change the financial industry grow. The Lab was created to make financial health better for everyone. It provides acceleration programs and lots of investments to help new businesses succeed.
The Lab is in Chicago and is key to FinTech in Illinois. It works to make finances healthier and more inclusive. It focuses on startups that want to make finance easier and more accessible for everyone. Illinois is already known for FinTech, and the Lab's work supports the state's goal to be a leader in this field.
The support from the Lab includes money, advice, and connections to important people and resources. This help is crucial for startups to grow quickly and do well in the competitive FinTech market. The Lab is known for helping companies innovate and expand.
The Lab also focuses on helping companies that improve financial health. This approach fits with Illinois' goal to support businesses that help society13. By helping companies that focus on diverse groups and high returns, incubators like the Lab drive diversity and economic growth in finance14.
In summary, the Financial Solutions Lab shows how supportive and dynamic the FinTech incubation atmosphere in Illinois is. It plays a big role in the state’s push for innovation15.
Illinois incubators are changing quickly to keep up with new trends like AI, blockchain, and green practices. They help new startups grow by using these latest industry trends.
In 2024, Chicago's startup world was ranked 15th globally. It got $1.8 billion in funding for new companies. This shows Illinois's strong support for future business opportunities16. Fintech, healthtech, and logistics are booming here, with over 1,600 startups doing great16.
Standout startups like ActiveCampaign raised $240 million, reaching a $3 billion valuation16. VillageMD got a huge $6.55 billion in funding. These successes show the strength of startups in Illinois16. Companies like Cameo and Uptake are growing worldwide, showing Chicago's global reach16.
1871 and UI LABS are two incubators providing strong support. 1871 has over 1,500 members. UI LABS has grown into a $17.6 million operation by 201617. The Fulton-Carroll Center offers space to over 100 tenants, making Chicago a tech hotspot17. For more info, check out this document.
Looking ahead, Illinois incubators want to focus on growing big, supporting diverse entrepreneurs, and using new tech. This plan will keep them leading in innovation, helping new startups succeed.
Being part of an Illinois startup incubator can really boost a startup's chances of succeeding. These incubators offer support that helps businesses grow and innovate.
One major benefit is access to many funding options. For instance, Catapult Chicago has helped tech startups raise over $100 million. They've also created jobs for more than 500 people in just four years18. Besides, PROPEL's success rate with SBIR and STTR grants is 36%, way above the national average of 15%18. Getting funding is essential for startups to expand and reach their goals.
Mentorship and making connections are key parts of the support Illinois incubators provide. Take 2112 at Fort Knox Studios, for example. It creates a community for those in music and video production, hosting about 300 bands and startups18. The Hatchery Chicago connects food industry entrepreneurs with experts and potential partners19. These opportunities are great for finding clients and investors.
Startups in Illinois incubators get crucial resources. mHUB focuses on making and developing physical products. They've helped 56 companies launch nearly 60 products since 2014, earning $57 million18. The Hatchery Chicago provides large spaces, kitchens, co-working areas, storage, and business support for food entrepreneurs19. These tools help startups innovate and compete.
Illinois shines in supporting startups with its many incubators. These programs help startups grow by offering tools and advice. Whether in technology, health, or any field, they help new companies succeed. Entrepreneurs get the help they need to overcome big challenges.
Universities like Northwestern and the University of Chicago are key in helping new businesses. They offer money and advice which are vital for startups. The University of Chicago's New Venture Challenge helps a lot, boosting the state's economy. It supports important areas like biotech and green technology. This shows how programs change to meet new needs in Illinois, keeping startups successful as reported here20.
The University Entrepreneurship Report shows Illinois' strong support for startups20. Even though fewer startups are launching recently, many keep growing, especially in sectors that are expanding quickly. This shows Illinois' incubators are doing a great job. With more demand for specialized incubators, like in manufacturing, Illinois is ready to be a leader. It plans to use new strategies and grow its incubator programs to meet this demand21.
To wrap it up, Illinois is a leading place for growing businesses with lots of strong incubators and support from institutions. They offer specific services, money, and mentoring, helping startups at each stage. This has a big impact on the economy both locally and across the state.
Illinois is home to top tech incubators like TechNexus Venture Collaborative, 1871, and the University Technology Park at Illinois Tech. They support startups in areas such as AI, VR, and IoT.
Health-focused incubators like Healthbox, MATTER, and Insight Accelerator Labs offer investments and regulatory advice. They also provide access to healthcare professionals, helping health startups grow.
Universities such as the University of Chicago, Northwestern University, and the University of Illinois at Urbana-Champaign support incubators. These include EnterpriseWorks Technology Incubator, The Garage, and the Polsky Center. They transform academic research into market ventures.
Real estate tech incubators like REACH and Moderne Passport offer capital, mentorship, and networking opportunities. They focus on accelerating PropTech startups' growth by connecting them with real estate professionals.
Incubators such as IncubEx, Sandbox Industries, and Evergreen Climate Innovations support startups in agriculture, energy, and climate tech. They provide guidance and resources for innovative and sustainable market solutions.
Yes. Incubators like Techstars Chicago, StartUp Port, and The Bunker are available for various sectors. They offer resources and programs for startups, providing comprehensive support.
The Financial Solutions Lab focuses on FinTech startups. It offers programs and investments for companies that improve financial health. This helps create a better financial ecosystem.
Illinois incubators are set to focus on advanced technologies like artificial intelligence and blockchain. They aim to prioritize scalability and entrepreneurship diversity, keeping them on the innovation edge.
Joining an incubator in Illinois means getting access to seed capital, investment rounds, and expert mentorship. Startups also benefit from networking, office space, tech tools, and educational programs for growth and success.
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