Not only are universities in a unique position to support the creation of new business startups, they possess the resources to provide a nurturing ecosystem for the new businesses once they have been created. According to the most recent issue of the Illinois Innovation Index, Illinois universities are making an important contribution to the state’s innovation ecosystem and helping to elevate the profile of Illinois and Chicago.
An ISTC survey found that from 2010 to 2013, Illinois universities produced a total of 354 start-ups across a range of industries. Of those, 283 are still in existence, and 73 percent have chosen to remain in Illinois. Chicagoland universities have produced 79 percent of Illinois’ active university-generated start-ups since 2010.
The Chicagoland Chamber of Commerce supports programs that aid in the launch and support of new businesses, as the success of emerging companies is critical to creating jobs and attracting investment in the Chicago region.
Click here to read the full issue of the Illinois Innovation Index.