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Are Efforts Working in University Commercialization
in IL?
Yes. Particularly in the small to medium sized companies.
- Medichem Life Science, a drug discovery company
focused on AIDS research and other infectious disease,
just moved in to their own self funded $22 million,
200 job facility. He and his wife started the company
in one small lab in our state funded incubator in
the Chicago Technology Park near the University of
Illinois at Chicago campus in the late 1980s and moved
to the bigger stage in 1996.
- Litholink, a company who has established a detection
kit for the formation of kidney stones has gone from
one potential contract in Indianapolis in 1996 to
a presence in 41 states. The headquarters remains
in Illinois.
- AniGenics, a Genomic sequencing company with origins
in Boston and funding from San Francisco has chosen
Illinois for its headquarters due to its agricultural
research prowess and lower cost to conduct business.
In the Chicago Technology Park alone last year, 200
new jobs were created and $17 million in federal research
was drawn in on a $116,900 state operating subsidy for
staff and utility costs. Other income comes from rent
from the 30 life science companies in about 5 buildings
in the Park on the Near West Side of Chicago adjacent
to four major medical centers.
Illinois and the Midwest can take advantage of good
research universities facilities and faculty, lower
cost of business, and its central location to attract
innovation to the region over others.
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