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The Big One:
Only two life-sciences clusters in the U.S. saw a sub-10% vacancy rate to end the first half of 2024. Chicago was not one of them.
In fact, at over 50%, the city had the highest vacancy rate of any of the 13 major life-science clusters recently profiled in a Mid-Year National Life Science Market Overview by Newmark researchers.
John Flavin, founder and CEO of local venture capital firm Portal Innovations, said that when it comes to Chicago's lab space, it's all relative.
"We didn't have lab buildings up until a few years ago," he told Chicago Inno. "It's not as if we had full buildings four years ago and now they're half full. Chicago is growing a floor and a building at a time."
READ MORE: Chicago trails major life-sciences clusters with vacancy rate over 50%
What else you need to know
- Chicago startup Crafty announced $10M in new funding with a strategic investment from JLL's venture arm JLL Spark. The new funding comes with a strategic alliance between JLL and Crafty.
- Nominations for Chicago Inno's Under 25 list are now open. The annual list recognizes Chicago's top founders, entrepreneurs, innovations and leaders who are under 25. Nominations to Inno's 2024 Under 25 can be made here.
- A property tax rebate program proposed to the Chicago City Council this week would support the planned Illinois Quantum and Microelectronics Park in South Chicago.
Chicago startup demystifies emissions tracking for companies
Businesses are now asked to report their emissions as part of ESG (environmental, social and governance) initiatives, but most don’t even know where to start with that process.
That’s where new Chicago tech startup In Bold Print comes in.
The carbon management platform for businesses of all sizes, with a focus on small and midsized companies across the retail and consumer packaged goods supply chain, announced a pre-seed funding round of $1M this week led by VC 414. Additional venture firms joined the round, along with Schreiber Foods and Palermo’s Pizza — two national retailers — as customers and strategic partners.
READ MORE: How Chicago startup In Bold Print is helping companies with ESG
10 Chicago companies to watch, according to LinkedIn
LinkedIn released its inaugural list of the top startups in Chicago, listing 10 emerging companies that it thinks we should know.
Each one of the companies is building innovative solutions that are shaping the future, including an operator of tech-driven mini golf courses and a Chicago SaaS company that just announced new funding.
To be eligible for the list, companies had to be headquartered in the U.S., be fully independent and privately held, have 30 or more full-time employees in the city and be seven years old or younger.
READ MORE: LinkedIn Top Startups 2024: The 10 companies on the rise in Chicago
