The Illinois Science & Technology Coalition (ISTC) today released
new data on record-breaking entrepreneurial activity on university
campuses across the state. The new data were released through ISTC's Illinois Innovation Index, which reports on the key metrics of the state's innovation economy.
The Index found that 1,064 startups were founded on
university campuses across Illinois over the past five academic years
(2014-15 through 2018-19). These startups are the result of technology
licensing, entrepreneurship programs, startup competitions and other
university initiatives. The number of startups founded over the past
five years is the highest ever tracked by the Index, and nearly double the amount founded over the previous five years, when 576 startups were founded from 2009-10 to 2013-14. This record-breaking volume of startup activity is a testament to
the innovation made possible by university research, and the commitment
Illinois' universities have made to support their entrepreneurs, said
Matthew Bragg, director of ISTC. Our universities are preparing the
workforce of tomorrow, but they're also training entrepreneurs and
providing them with the tools and guidance they need to launch and grow
high-tech companies. University-supported startups founded over the past five years have
raised $1.42 billion in funding from venture or angel investment,
government grants, and other sourcesthe highest amount ever recorded
over a five-year period. Startup funding includes $14.1 million directly
from universities through competition prizes and university startup
funds. Startups that received this catalytic funding from universities
have gone on to raise $204 million in funding from other sourcesa
staggering 14:1 ratio of follow-on funding. Universities across Illinois are investing in resources to support
entrepreneurs, including student competitions, business training,
accelerator programs, seed funding, and active mentoring. These programs
result in stronger startups that are tied to our communities with
well-defined value propositions and business networks to aid in their
success, said Laura Frerichs, executive director of the University of
Illinois Research Park. University-supported entrepreneurs are also taking on critical
COVID-19 challenges, creating innovative solutions to fight the pandemic
and save lives. These innovations include a new prototype ventilator;
technology to improve hand-washing hygiene; a robot designed to clean
hospitals; an app to monitor patients in isolation; and new antiviral
respirator filtration technology, among many others. View the full report here. For more information, subscribe here and follow us @ISTCoalition. About the Illinois Science & Technology Coalition (ISTC): The Illinois Science & Technology Coalition is a
member-driven non-profit that strengthens the state's innovation economy
through data collection, policy advocacy, and impactful programs. Our
affiliated Institute provides STEM-education programs that connect
classrooms with companies to better prepare the next generation of
problem-solvers. source - https://www.newswire.com/news/record-number-of-startups-launched-from-illinois-campuses-21147440
Company Name | Contact Person | Contact Number | Email Id | Website | Address |
---|---|---|---|---|---|
THE ILLINOIS SCIENCE & TECHNOLOGY COALITION | 6763829234 | smith2405john@gmail.com | https://www.istcoalition.org/ |
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