Turning Regional Strengths Into a Global Technology
Powerhouse
When a city is known for its broad shoulders, and when a region is
known for its work ethic, the status quo does not go unchallenged.
Today public officials, private industry executives and academic
centers of excellence leaders are collaborating toward a common
goal: to make Chicago, Illinois and the surrounding Midwest one of
the top technology and life sciences centers in the world. We
are cultivating venture capital firms willing to finance startups,
increasing public sector support, and combining talent and
resources to drive the region's growth.
We are confident that our region will improve its ability to
translate the amazing quality, breadth, and depth of scientific
research conducted here into an even more vibrant technology-based
community, including the launching and nurturing of startup
companies. Our respective organizations, along with other
private and public sector leaders, particularly the past and
current directors of the Illinois Department of Commerce and
Economic Opportunity (DCEO), will accept nothing less.
Fortunately we are starting from an often-underappreciated
position of strength. Our universities and research centers are
world-class assets, as are our global information technology,
medical device and biopharmaceutical corporations. When local
startups mature and either acquire other companies or become
acquired themselves, they represent a desired and healthy evolution
for our community. It is only through this process that a
sustainable technology ecosystem can develop.
With an eye toward future growth in employment and tax revenues,
Illinois Governor Pat Quinn last month approved the state's first
capital and infrastructure program in a decade. The
package directs approximately $300 million to science and
technology investments, and provides several hundred million
dollars more for university-based construction projects. The
capital plan is expected to create or retain 439,000 jobs in
Illinois.
How are we contributing to the growth of our region? Here are just
a few examples:
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Since its launch in June 2007, iBIO's PROPEL programs have
helped 48 formation-stage and early-stage life sciences companies
by providing entrepreneurs with access to specialized resources and
expertise. The iBIO Institute helps Illinois high school teachers
incorporate biotechnology into their curricula, and encourages
students to explore career opportunities in the life
sciences.
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The NanoBusiness Alliance is placing our top science,
technology, engineering and mathematics (STEM) students in research
internships in Chicago-area nanotechnology companies to inspire our
best and brightest students to stick with careers in science.
It has also relocated its national conference to Chicago, bringing
nanotech companies from all over the country to Chicago for local
industry to engage.
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The ISTC is fostering public-private partnerships to develop
and execute R&D projects, advocating for funding for R&D
initiatives, and collaborating with public and private partners to
attract and retain R&D resources and talent in
Illinois.
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ITA communicates with some 3500 technology companies in
Illinois who are engaged in the community, and participates
directly in strategy development for many of these companies. The
ITA also manages Chicago's TechNexus, a clubhouse of sorts for the
Illinois technology community. Each month, more than 1500
executives interact through the program, and 30 TechNexus companies
have attracted more than $27 million in investment
capital.
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Celebrating its 10th anniversary, World Business Chicago has
worked in concert with the public/private sector, and alongside our
university partners, to foster the attraction or expansion of
hundreds of Chicago-area technology-based firms. We navigate
the site selection process for businesses by providing economic and
industry data, state and local incentive information, and site
location assistance to current and prospective Chicago companies.
By working with our area's leaders to aggressively promote and
market Chicago's strengths as a global technology hub, world-class
companies from Boeing to NAVTEQ, Orbitz to CareerBuilder, Motorola
to US Cellular call Chicago their home.
Illinois residents and business are fortunate to have a first-rate
Congressional delegation that works to ensure investment comes
home. Thanks to the number of technology-savvy supporters
increasing in Springfield and Washington, and with new
public-private partnerships forming constantly, Chicago and
Illinois will build upon their demonstrated strengths to create new
technology-based solutions in industry, medicine and
agriculture. In so doing, we will create new jobs and
contribute to a stronger economy in the region and
nationwide.
Our organizations couldn't exist without the active support of
private businesses and public research centers, but that doesn't
stop us from aggressively pushing them to accept even greater
responsibility for helping Illinois earn its rightful place as a
global technology leader. As we dedicate our organizations to
the vigilant pursuit of excellence, we encourage our friends and
colleagues in the media to celebrate the successes occurring in our
backyard. Our businesses and tax base would surely benefit if the
world regularly heard about the innovations that emanate from
Illinois. We also call upon the business community to apply
their broad shoulders and renowned work ethic to this critically
important objective. Together, we will leave the status quo
behind and create a new and exciting future for Illinois, the
United States and the world.
Fred Hoch, President
Illinois Technology Association (ITA)
Dan Lyne, Director, Technology Development
World Business Chicago (WBC)
David Miller, President & CEO
Illinois Biotechnology Industry Organization (iBIO)
Sean Murdock, Executive Chairman
NanoBusiness Alliance
Matthew Summy, President & CEO
Illinois Science & Technology Coalition (ISTC)
