Fall 2016 Round of Proof of Concept Awards Underway
The Fall 2016 round of the Proof of Concept awards program led by IllinoisVENTURES, in partnership with OTM Chicago and supported by the UIC Chancellor’s Innovation Fund, is well underway. IllinoisVENTURES continues to leverage its investment networks and industry connections to convene this elite panel of external experts. Reviewers get a first look at the top opportunities emerging from UIC, help make commercially relevant decisions, and provide further connectivity to industry as these projects progress. Successes from the early rounds of the program are beginning to emerge. Of the 40 projects funded since 2012 ($2.4 million awarded), 6 startups have formed and 3 additional licenses to industry partners have been executed. A total of $6 million has been raised by startups that emerged from the POC program.