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.