Sue Rezin, Illinois State Senator for 38th District | Facebook
Sue Rezin, Illinois State Senator for 38th District | Facebook
Last week, the Illinois Department of Commerce and Economic Opportunity announced it will award $7 million to four tech incubators across the state. The Tech Incubator Enhancement Grant Program provides capital grants to facilities focusing on key growth industries as defined in the Illinois Economic Growth Plan. The program also targets future industries such as life sciences, clean energy production and manufacturing, and next-generation agriculture, as outlined in the 2024 Growth Plan.
The initiative supports incubators that foster innovation, collaboration, and resilience. After a competitive selection process, grants were awarded to three new projects and one existing incubator. The recipients are:
- 518 Collective at Carl Sandburg College: $1,811,907
- Deep Tech Innovation Lab at mHUB: $590,200
- EnterpriseWorks 2.0 at University of Illinois Urbana-Champaign: $3,000,000
- SouthernTECH High-Tech Food Incubator at Southern Illinois University: $1,597,893
State Senator Sue Rezin stated that this program will help incubators continue to play an essential role in innovation and entrepreneurship in Illinois’ economy.
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