Copy
University Entrepreneurship Index 2020

University Entrepreneurship 2020:

Startup Creation Reaches Record Heights

Illinois’ universities are engines of talent production and groundbreaking research that propel the state’s economy forward. Over the past two decades, universities across the state have also embraced the role of supporting entrepreneurial faculty and students by providing additional resources and guiding the creation and growth of new ventures. This work has led Illinois’ universities to further increase their economic value to the state through direct support of new business creation and job growth. This trend continues in 2020, with new records for startup creation, capital raised, and job creation.
  1. Over the past five academic years, 1,064 startups were founded by students and faculty of Illinois’ universities. The largest volume of startup activity ever tracked by this Index.
  2. Startups founded over the past five years have raised $1.42 billion in funding, the highest amount ever recorded for a five-year period. 
  3. Startups received $14.1 million in direct funding from university competitions and funds. These startups have gone on to raise $204 million in follow-on funding, representing a staggering 14:1 ratio of follow-on funding.
  4. Startups founded over the past five years have created around 3,300 jobs. Of these jobs, around 2,700 remain active and 1,500 are located in Illinois. 
  5. University-supported entrepreneurs are taking on critical COVID-19 challenges, creating innovative solutions to fight the pandemic and save lives. These innovations include a new prototype ventilator; technology to improve hand washing hygiene; a robot designed to clean hospitals; an app to monitor patients in isolation; and new antiviral respirator filtration technology, among many others.
Read The Index
Full Analysis
University Partners
Index Data Partners

For previous issues of the Illinois Innovation Index, click here

The Illinois Innovation Index highlights data and metrics on innovation and entrepreneurial activity across Illinois. The Index is a publication wholly researched and produced by the Illinois Science & Technology Coalition

Forward
Tweet
Share
Share
Copyright © 2020 Illinois Science and Technology Coalition, All rights reserved.


unsubscribe from this list    update subscription preferences 

Email Marketing Powered by Mailchimp
Website
Twitter
LinkedIn