Governor Awards Illinois Technology Enterprise Corporation Grants

CHICAGO -- Governor George H. Ryan today announced nearly $3 million in state grants for eight Illinois Technology Enterprise Corporation (ITEC) centers. The mission of each of the centers is to assist technology-based start-up businesses and serve as an incubator for the new ventures.

"My administration has committed substantial resources to improve our state's technology infrastructure and the skills of our workforce in order to support our technology-based economy," said Governor Ryan. "These ITEC centers are yet another step in improving Illinois' competitiveness in the global, high-tech economy through the support of entrepreneurs and innovators."

The grants announced for the eight centers will continue to fund operations at Northwestern University in Evanston and the University of Illinois in Champaign, as well as support six new centers in Chicago, Naperville, Lemont, Peoria, Carbondale and Springfield.

The Illinois Department of Commerce and Community Affairs (DCCA) administers funding for the ITEC centers.

"We want to create an environment in which high-tech start-ups have an opportunity to flourish," said DCCA Director Pam McDonough. "These centers will provide crucial support in areas such as managerial skills, locating financing, product development and marketing. There have been a lot of lessons learned over the past couple of years about starting up a business in high-growth, high technology sectors and we want to make sure that the next wave of entrepreneurs have access to the technical expertise they need in order to succeed."

Each Technology Enterprise Center is expected to have a program mission focused on stimulating development of advanced technology enterprises by transforming innovation into enterprises. To meet their missions and goals, each center will measure results in terms of stimulating the formation of technology-based businesses, nurturing and incubating these new ventures, and creating new jobs in the advanced technology segments of the economy technology occupations.

The state's first ITEC Center in Evanston has provided meaningful services to over 150 entrepreneurs and early stage companies.

A list of the grantees is attached:

$490,000

This grantee has been operating an ITEC since May of 2000. The areas of technology that ITEC Evanston has and will support include information technology, advanced materials and manufacturing, nanotechnology, biotechnology, medical technology/devises and telecommunications.

$332,059

This project will partner the Illinois Medical District with the University of Illinois-Chicago, the Illinois Institute of Technology and the Chicago Technology Park.

$300,000

This center will be located at Northern Illinois University's Naperville campus. Project partners include the Illinois Institute of Technology and the College of DuPage.

$285,000

Although not limited to one area, this center will provide services primarily to the biomedical research and healthcare community.

$375,000

Southern TECH will focus on developing enterprises from university-based and regional technologies, while enhancing the development of local innovations.

$422,941

Although not limited to one area, this center will place particular emphasis on manufacturing process technologies, biotechnology and food processing technology.

$225,174

The mission of the Argonne ITEC will be to expand significantly the identification, protection, and commercialization of the technology developed at ANL, to increase the local and statewide benefits of the technology.

$500,000

The emphasis of ITEC will be on start-ups or emerging companies commercializing high-technologies, including those based on UIUC research, who are, or have the opportunity to locate in East-Central Illinois. Because of the strong invention engine of UIUC, start-ups from engineering sciences, computer science and information technology, microelectronics, nanotechnologies and life sciences are all expected to be served.