The Illinois Innovation Index highlights the role of universities in creating Illinois start-ups.
The Illinois Innovation Index (III), a platform to connect academia and business in the state, has highlighted university contribution to the area’s innovation ecosystem since the turn of the decade.
Drawing on a survey conducted by the Illinois Science and Technology Coalition (ISTC), the Index discovered that Illinois universities have contributed 354 start-ups to the area since 2010, 283 of which are still in existence with 73% still remaining in the Illinois area. Of this total, 91 are spin-outs based on university research, and 74 are still in operation.
The statistics underline the importance of university entrepreneurship programmes, which supported 75% of the university-linked firms, operating alongside tech transfer offices.
The III also revealed that Northwestern University is the leading contributor to university start-ups, providing 33% of the total since 2010. The University of Chicago comes a close second at 30%, with the University of Illinois at Urbana-Champaign third at 17%. Of all the university start-ups, 79% have been produced by universities based in Chicago.
