Chicago Innovation Exchange Begins Accepting Applications for its New Startup Incubator

By Jim Dalke

A new University of Chicago startup incubator is opening soon on the south side, and the university announced today that applications are now being accepted.

The Chicago Innovation Exchange is set to open in less than two months and will be a space for startups to work and collaborate, but it will also offer CIE membership to UChicago students, staff, faculty and community members interested in early stage businesses, the university said on its website. UChicago students will receive free membership for the 2014-15 school year. Faculty, staff, or those in the community will pay $50 per month or $500 per year.

The CIE will house between 10 and 20 companies in the business incubator and can accommodate up to 350 people in full working mode. The 17,000 square foot facility is located on 53rd Street and Harper Avenue. The business incubator is accepting applications from now until September 5. The incubator will give startups the same benefits as CIE membership, along with desk and storage space for two or more team members, more coaching and office hours with CIE staff, mentors, and advisors, and a mailing address at the CIE, the website said.

Startups will have access to a $20 million investment fund set up by UChicago.

Interested startups can apply here.