Record-Breaking STEM Talent and University Startup Production

The Illinois Innovation Index expanded its role as the go-to resource measuring and benchmarking the state’s innovation economy in 2018.

In April, the Index released new data on record-breaking startup production from Illinois’ universities. To accompany this release, ISTC hosted an event at 1871, which included speakers from university leaders, startup founders, and members of Illinois’ venture capital community.

In September, ISTC published its R&D Index, detailing $16.5 billion in private and public sector R&D activity. The R&D Index was released at Illinois Ignite, an event celebrating university research and commercialization in the state.

Finally, December marked the release of our STEM Talent Index, highlighting the explosive growth of computer and data science in the state. ISTC hosted an event at Arity to release the new data, which also included a panel of talent experts.

The Learning Language – STEM Challenge Success Story

In order to serve the community, technology must reflect the community. That’s what students at Foreman College and Career Academy learned last spring when partnering with Microsoft Corporation as part of ISTI’s STEM Challenge program. Students at Foreman recognized a disconnect between community members and the school’s administration, and with the help of artificial intelligence and Microsoft mentors they set out to break down that barrier.

About 30% of Chicagoans speak a non-English language at home, according to a study by Crain’s Chicago Business. Because of this diversity in communication, Foreman students found that parents or community members contacting the school had difficulty accessing and understanding the information they needed. The students designed a chatbot that not only guided question-seekers through the ins and outs of the administration, but did so in English, Spanish, Russian, and Greek. Users simply input their question in their desired language and received a concise and digestible answer. Through their bot, students were able to support efficiency in their district and promote inclusion in their community.

Learn more about STEM Challenges here.

Using the Data to Drive Policy

ISTC advocates for sound policies and programs at the state and federal levels. We actively support legislation and initiatives that have a positive impact on research, innovation, and technology commercialization.

Throughout 2018, ISTC furthered its partnership with SSTI – a national nonprofit that strengthens initiatives to create a better future through science, technology, innovation, and entrepreneurship – as part of its Innovation Advocacy Council.  In collaboration with representatives from more than 20 other states, we engaged members of Congress on a number of innovation issues, including funding for the Regional Innovation Strategies Program.

ISTC utilizes its data to inform policy and program recommendations that will strengthen Illinois’ innovation economy.  Moving into 2019, we look forward to working with Gov. Pritzker, members of the General Assembly, and the Illinois Congressional delegation to advance new ideas that will advance Illinois’ position as a tech leader.  Scroll down for our takeaways from each Index.

Building on Opportunities and Successes

In 2018, the ISTC partnered with Aon Corporation – specifically Aon’s Affinity division – through our Corporate-Startup Challenge program. Aon Affinity worked with our team to identify technology target use cases for partnership opportunities with startup and early-stage companies. Through our rigorous scouting process, we identified 135 startup candidates, which were narrowed down to the 41 best matches presented to the Aon Affinity team. Aon ultimately selected 10 companies from this pool to invite to their private demo day, hosted in July at Chicago’s Aon Center. The startups represented specific alignment with Aon Affinity’s interest in data enrichment, AI/machine learning-driven insurance technology, process optimization, and insurance-focused blockchain solutions. After our 18th successful demo day, Aon has begun exploring partnership opportunities with 7 of the 10 startups matched to their needs.

In late 2018, our team also received the exciting news that Caterpillar, a former Corporate-Startup Challenge participant, closed a $20M Series A investment in Guardhat Technologies. Guardhat was originally introduced to Caterpillar through the 2015 Caterpillar Corporate-Startup Challenge demo day.