Are you a founder or student entrepreneur in downstate Illinois? A university incubator just got two grants to help you grow.
EnterpriseWorks, the incubator associated with University of Illinois Urbana-Champaign's research park, just received two grants from the US Economic Development Administration (EDA), that focus on downstate entrepreneurship, university startups, and boosting business in economically distressed areas in Illinois.
First, EnterpriseWorks received a $270,000 University Center Grant to use Illinois university talent and resources to help their local economy. The grant, which will be dispersed over five years, will be used to provide technical and business assistance to entrepreneurs and small business owners located in Illinois communities south of Interstate 80. Teams of UIUC students will work with founders on market research, competitive assessment, design work, technical consultation, and other services. While giving assistance to the local business community, it also offers students real-world learning experiences, the incubator pointed out.
EnterpriseWorks also received a five-year $549,620 Economic Adjustment Assistance Grant that will be used to grow the entrepreneurship ecosystem among Illinois universities. EnterpriseWorks is using the grant to create the Illinois University Incubator Network (IUIN) which will connect university incubators, facilitate resource-sharing, create a mentor network, and provide assistance to student entrepreneurs across the state. They'll also host an annual IUIN conference where industry leaders, business professionals, policymakers and academics will talk opportunities and challenges in launching businesses across the state.
Supporting partners for the IUIN include Bradley University, Eastern Illinois University, Illinois Institute of Technology, Millikin University, Northern Illinois University, Olivet Nazarene University, Southern Illinois University, University of Illinois at Chicago, the University of Chicago, and Innovate Springfield.
EnterpriseWorks noted that the IUIN will give the incubator an opportunity to expand their reach to centers across the state "including many in economically distressed counties."
“To harness and leverage the talent that exists in our entrepreneurial landscape, especially within University environments, will build the state’s economy and opportunities for future economic success,” said Laura Frerichs, director of the University of Illinois Research Park and director of economic development at the University of Illinois in a statement. “EnterpriseWorks is looking forward to working with supporting and advancing entrepreneurship across the state of Illinois.”
Marissa Siero, cofounder of wheelchair tech startup Intelliwheels, has been hired as the project coordinator of the EDA grants including the Illinois University Incubator Network and the University Center Grant Program.
"It is critical, especially at a time when some resources are limited that we come together and share resources, information, and best practices to support entrepreneurship and innovation," she told Chicago Inno over email.
Note: Updated with comment from Siero.
