Two staples in Chicago's startup scene will get federal funding as part of a second "minibus" of government funding bills signed by President Biden this week.
As announced by U.S. Senate Majority Whip Dick Durbin and U.S. Senator Tammy Duckworth, the congressionally directed spending requests — aka "earmarks" — will see Evergreen Climate Innovations and mHub secure more than $1 million total.
Evergreen Climate Innovations, a nonprofit venture accelerator that supports entrepreneurs and startups bringing climate technologies to market, has been earmarked to receive $475,000 to support Illinois-based clean technology startups through business development training, professional mentorship, market strategies and networking opportunities.
The funding follows other federal support for local climate tech and innovations, including $200 million that Chicago climate-tech company LanzaTech is in line to receive from the Department of Energy and $160 million granted by the U.S. National Science Foundation to Great Lakes Renew, a six-state collaboration coordinated by Chicago-based water innovation hub Current.
Meanwhile, mHub, one of Chicago's premium manufacturing innovation centers, also received $675,000 to develop a regional supply chain network to connect domestic suppliers and contract manufacturers with hard-tech entrepreneurs to support and accelerate commercialization for hard-tech startups. Through technical assistance and network development, the effort is meant to help lower barriers to entrepreneurship and manufacturing and support the next generation of successful startups out of Chicago.
"While I am frustrated at this year's unnecessarily drawn-out process of funding the government, I am encouraged to see bipartisan support for the second 'minibus'," U.S. Senate Majority Whip Dick Durbin (D-IL) said in a statement. "These bills complete funding for Fiscal Year 2024, bolstering programs that benefit Illinois' families, communities and economy."
