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Accelerator programs are a useful tool to help established startups ramp up their operations, refine their product and gain access to mentors and investors. Typically fixed-term, intensive programs, accelerators have become more and more prevalent in recent years to match the rise of startup activity throughout the United States.
Chicago is no exception when it comes to startup hubs with a wide variety of accelerator programs. While some are aimed at specific industry areas, many are open to any promising early-stage companies. We’ve put together a list below of Chicago's most prominent accelerator programs with available information on their criteria, backers, cohort length and equity taken. Descriptions provided by the organizations.
Updated: July 2020
1871 - One of Chicago's most recognizable tech hubs, 1871 is a non-profit digital startup incubator located in the Merchandise Mart. It provides co-working space, events, education, programming, incubators, accelerators and a community of entrepreneurs focusing on innovation.
2112 - 2112 is Chicago’s first incubator focused on the development of business and entrepreneurs in music, film/video and creative technology.
Blue1647 - Blue1647 is network of education and technology innovation platforms that foster economic development in technology and 21st Century skills through people development, workforce development and Business Acceleration.
Brand Accelerator - Brand Accelerator is a startup accelerator backed by multiple major brands that allows major brands make partnering with startups.Its client partnership process enables startups to accelerate their development procedure through actual revenue-generating opportunities with major brands and hands-on mentorship from experienced veterans. It partners with major brands to identify their marketing and innovation necessities and curate relevant startups accordingly. It works with its client Marketing, Innovation leads, and CMO’s to source and select qualified startup finalists.The selected finalists are being awarded 50,000 U.S. dollars’ worth pilot programs, work with brand marketers, and Brand Accelerator mentors, to deliver success and make the case for scale. Brand Accelerator was founded in 2013 and is headquartered in Chicago.
Bunker Labs - A partnership of WeWork and Bunker Labs, Veterans in Residence is a six-month startup incubator and leadership program that provides veteran and military family member entrepreneurs the community, business support, and workspace to help launch and grow their businesses.
Catapult - Catapult Chicago is a nonprofit organization that serves as a business incubator and think tank for startup businesses in Chicago. It cultivates a community through founder empowerment, mentorship, and experience sharing. Since 2012, it has helped scale 60+ startups, supported 100+ founders in 12 industries, and raised more than $380 million in capital.
Chicago Connectory - The Chicago Connectory is a community of entrepreneurs, IoT startups, corporate innovators and creative minds. It's designed to drive IoT innovation for Chicago, the Midwest and beyond and is focused on industry 4.0, mobility, smart city and connected construction.
Clean Energy Trust - Clean Energy Trust provides catalytic capital and support to early-stage startups in the Mid-Continent region of the United States working on solutions for clean energy, decarbonization, and environmental sustainability. Based in Chicago, Clean Energy Trust invests in and provides hands-on support to help environmentally sustainable entrepreneurs scale and succeed. To date, Clean Energy Trust has helped its 31 portfolio companies raise $26 for every $1 Clean Energy Trust has invested.
Cleveland Avenue - Cleveland Avenue deals with seed ventures, early stage and private equity deals focused on emerging restaurants, beverages, services, and technologies designed for foodservice and hospitality channels. They bring unparalleled resources and expertise to support remarkable companies and the people behind them.
Elmspring Accelerator - The Elmspring Accelerator works with start-ups that offer innovative solutions for the old ways of doing business inside Real Estate. Ideal candidates for the program are pre- or early-market companies with a strong leadership team and a disruptive technology that can be applied to brokerage, housing, mapping, leasing, property management, or construction/design (to name a few). The program is three-months long and housed inside 1871. Participants in the program receive seed funding, mentorship, complimentary office space at 1871, dedicated marketing support, and unparalleled access to Real Estate industry connections. The company accepts applications on a annual basis in advance of their scheduled sessions.
EMERGE Accelerator - EMERGE Acceleration provides a market validation-driven accelerator program that provides entrepreneurs access to the right markets, people, and resources to accelerate the growth of their company. The accelerator works with ventures of all different stages, and its focus is on helping the venture get market traction, and working closely with mentors and corporate partners to develop market fit.
EVC Ventures - EVC Ventures is a Chicago-based venture capital fund focused globally on early-stage startups. They are committed to converting entrepreneurial ideas into compelling fundable propositions and viable businesses in the shortest possible period of time. Since inception, EVC Ventures has invested in a diversified portfolio of startups and has interest in EdTech, Artificial Intelligence, Machine Learning, SaaS, Mobile Apps, Security, Drone Technology and Robotics. EVC Ventures operates accelerators in both the United States and India, where it provides capital and mentorship support to help entrepreneurs turn their ideas into unicorns.
Fintank - Focused on fintech startups, Fintank provides hands-on support to startups in its yearlong accelerator and gives them access to its network and resources that are critical to their growth and ultimate success.
Healthbox - Healthbox helps organizations build and sustain innovation strategies through consulting and fund management services. The firm works inside organizations to develop innovation programs that engage caregivers and assess the commercial potential of internal projects. It also helps organizations source potential solutions or investments from outside the organization.
INCISENT Labs - INCISENT Labs is a startup studio to incubate innovative technologies that spin out into high growth technology companies. INCISENT Labs' teams specialize in creating and evolving prototype products until they reach optimal Product- Market Fit; winning products graduate to the Incubator phase, where we transform innovative products into startup companies poised for dramatic growth. Successes spin out on their own, typically with Series A funding from INCISENT Labs.
Polsky Accelerator - The Polsky Accelerator gives University of Chicago student teams the opportunity to work intensively and solely on their businesses and social enterprises in a collaborative and dynamic environment over the summer. The Accelerator Program accepts 10-12 teams to participate through a competitive selection process.
REACH - REACH is an accelerator owned and operated by Second Century Ventures, the investment arm of the National Association of Realtors®. Founded in 2013, REACH is focused on helping technology companies connect with one of the largest industries in the world: real estate. By helping companies innovate in the industry, we help hundreds of thousands of small businesses, millions of REALTORS® and consumers and the economy as a whole. REACH offers its member companies more than 350 mentors from top real estate companies as well as direct access to NAR's membership to become customers and partners. REACH works closely with other accelerators and incubators and welcomes graduates of Excelerate, TechStars, DreamIt, YCombinator to apply to NAR REACH for targeted outreach, ongoing coaching and support. REACH accepts companies at all stages of investment – from an early idea to a standing company with revenues and investors.
Sandbox Industries - Sandbox Industries, founded in 2003, is a Chicago-based venture capital firm with three main business lines: venture funds formed alongside strategic corporate partners, new business accelerator programs, and an innovation consulting business. The firm's innovation consulting business, Sandbox Innovation Partners, connects established corporations with emerging companies and helps them work together through pilots, partnerships, investments, or acquisitions.
Sente Foundry - Sente manages an international technology startup program that brings corporations, public institutions, investors, and startups together to scale innovative ideas from around the globe in one of the largest and most diverse B2B ecosystems in the world: Chicago. Through its robust methodology and expertise in technology development and innovation management, Sente has assisted dozens of startups from more than 15 countries that have grown out of idea stage into the growth stage. Its extensive network of corporations, technology industry executives, and domain experts in the US help these startups enter into US markets based on a well-thought and tested commercial development plan.
TechNexus Ventures - TechNexus Venture Collaborative finds, funds and grows technology ventures, leveraging a unique alignment of relationships in the ecosystem to provide leading corporations with a platform to engage ventures, transform business models and ultimately drive innovation. Since 2007, TechNexus has brought together more than 500 startups with dozens of global corporate partners. Equal parts entrepreneur, strategist, and investor, we Rethink Growth.
Techstars Chicago - Techstars Chicago conducts programs for startups to connect with investors, mentors, and entrepreneurs. The company selects ten companies every spring to participate in the 13-week intensive summer program. Starting in early June, the ten companies build connections and their businesses during the program. The program culminates in an Investor Demo Day at the end of August where the companies showcase their progress and plans to more than 500 investors and mentors from around the country.
WiSTEM - Based out of 1871, WiSTEM is a 12-week accelerator that provides resources to female founders. The program has graduated more than 120 companies and created 715 jobs.
Workbox - Workbox is a coworking and accelerator hybrid for startups where tenants can choose shared or private work space, and receive coffee, private phone booths and conference room access. But in addition to those typical coworking offerings, members also receive mentoring, networking opportunities and access to investors.
