The number of Illinois university-linked businesses founded in the past five years has more than doubled on the preceding period.

Students and faculty from Illinois universities founded 942 companies through the five fiscal years ending 2016-2017, more than double that recorded between 2009 and 2013, according to an Illinois Science & Technology Coalition report.

Of these, 73.9% remain in business, with another 11 businesses securing acquisitions and approximately 25% ceasing operations.

Illinois’s university-supported startups generated a record $877.5m in capital during the period reported.

The report attributed much of the success to non-tech transfer businesses – startups that have not…