Chicago Inno (March 8) -- In the most recent Innovation Index, a compilation of data on the state's startup ecosystem found that of the 611 known startups created by Illinois' university students and faculty over the past five years, 80 percent are still active (or were acquired) and 73 percent of these active startups are still in Illinois. The Index also reveals the importance of tech transfers--startups that were created using university research, patents, licenses, or disclosures--to Illinois' innovation economy. Over the past decade, one-fifth of all university-formed startups have been the result of tech transfers, with these companies accounting for nearly one-third, or $1 billion, of all university startup funding. Since 2010, 118 tech transfers have raised $163 million in funding and 493 university-born startups have raised $173.5 million. Also: Chicago Tribune (March 8).
Related story: Crain’s Chicago Business (Opinion, March 8) – University of Illinois President Timothy Killeen co-wrote an op-ed on the connection startups have to universities and how that affects the economy. Killeen is the board chair of the Illinois Science and Technology Coalition.