February 19, 2026 – The NSF I-Corps Hub: Great Lakes Region is excited to announce our research regarding the economic impact of the I-Corps program on the state of Illinois. Since 2012, the program has empowered Illinois-based entrepreneurs, accelerated high-growth startups, and fostered innovation across the Prairie State.
Overview
Illinois companies and startups fueled by the I-Corps program have generated a stunning $1,395,870,000 in total economic impact, according to data as of February 2026. I-Corps trained companies have secured over $475,000,000 in follow-on funding, resulting in the creation of 318 jobs and 4,106 job years since 2012. With over 54 companies trained in the I-Corps methodology receiving significant follow-on funding, Illinois is emerging as a flourishing hub for university driven entrepreneurship.
Top Industries
I-Corps teams are transforming the landscape across diverse sectors. The leading NSF Chips and Science Act technology fields include:
- Healthcare Technology (25%)
- Pharma and BioTech (23%)
- Advanced Computing and Cybersecurity (15%)
- Artificial Intelligence (13%)
Alongside these, notable activity extends into semiconductor/microelectronics, communications/wireless, advanced manufacturing, and energy technology.
Among NAICS sector industries, standout concentrations are seen in:
- Computer System Design and Related Services (20%)
- Pharmaceuticals and Medicines Manufacturing (16%)
- Medical Equipment and Supplies Manufacturing (15%)
- Computer and Electronic Product Manufacturing (9%)
These sectors underscore Illinois’s critical role in driving both technological progress and economic expansion.
Illinois’ World-Class Research Universities
The NSF I-Corps Hub: Great Lakes Region includes 3 partner institutions from Illinois: The University of Chicago, University of Illinois Urbana-Champaign, and University of Illinois Chicago. These partners are the backbone of I-Corps training in the state and have helped to translate university research into economic impact for the last 5 years as part of the Hub. In addition, I-Corps training has a long history in the state and has been provided for over 10 years in various programs. This extensive innovation training has led to tangible economic impact.
Team Highlights from the State of Illinois
Flow Medical
- University of Chicago spin-out
- Great Lakes I-Corps Hub Regional Participant
- Awarded NIH SBIR Phase 1
- Over $6 million in Seed Funding
“According to Dr. Paul, the I-Corps program was the essential first step that validated their ideas through a rigorous customer discovery process. Supported by the University of Chicago’s Polsky Center for Entrepreneurship and Innovation, they were paired with MBA students from the Chicago Booth School of Business, which introduced them to a vast network of stakeholders. Through extensive interviews with physicians, medical device experts, and potential investors, they gathered invaluable insights that helped refine their innovative device.” -University of Chicago’s Polsky Center for Entrepreneurship and Innovation
Read more: https://greatlakesicorps.org/flow-medical-innovating-treatment-for-pulmonary-embolism/
Prenosis
- University of Illinois Urbana-Champaign spin-out
- Regional I-Corps Participant
- $20 million Series A venture funding
Learn more: https://prenosis.com/news/prenosis-announces-barda-contract-series-a-financing-round/
I-Corps’ Impact on Illinois
The I-Corps program’s legacy in Illinois is unmistakable: supporting research based entrepreneurship that not only stimulates the economy but tackles society’s most pressing challenges. As Illinois researchers continue to conduct world-class research, the NSF-funded I-Corps program will help transform their innovation into impact and cutting-edge startups.
Learn more about I-Corps’ Impact: https://greatlakesicorps.org/impact/
Additional Information
About the Research
The NSF I-Corps Hub: Great Lakes Region’s research aims to highlight the impact of I-Corps-trained teams, individuals, and companies affiliated with Great Lakes region universities. The teams included participated in either a program offered by the NSF I-Corps Hub: Great Lakes Region or the NSF I-Corps Teams™ program between 2012 and 2026.
Data was collected from sources, including, but not limited to, Pitchbook, the Great Lakes I-Corps Hub database, the VentureWell database, and federal funding databases.
About the Great Lakes I-Corps Hub
The NSF I-Corps Hub: Great Lakes Region aims to spur innovation, collaboration, and economic impact in the region. Supported by a grant from the National Science Foundation, this regional alliance is a network of 16 educational institutions that educate, support, and connect academic researchers to the entrepreneurial ecosystem across the region.
This work is supported by the NSF I-Corps Hub: Great Lakes Region, NSF Award #2048612
