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Technology Commercialization
Chicago-Cook County businesses have access to a vibrant network of world-renowned research centers and institutions that work to transfer technologies to the business community. Argonne National Laboratory and the University of Illinois form one of the nation's largest concentrations of supercomputing power.
Chicago-Cook County companies include Illinois Superconductor which has commercialized superconducting technologies from Argonne that can make cellular phone calls clearer. Nanophase Technologies has scaled up a process developed at Argonne to produce super-tiny powders with an array of commercial applications. Flight Visions has developed a display technology that allows pilots to check their controls without taking their eyes off the windshield.
ARCH Development Corporation, initiated by the University of Chicago, directly commercializes technologies derived from university laboratories and Argonne. ARCH has created more than 15 companies, new licenses to industry and ARCH Venture Partners, a venture capital firm investing in early stage technology based companies.|
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Entrepreneurial Support
Entrepreneurial businesses can develop and grow in high tech incubators. The Chicago Technology Park is the largest biotechnology incubator in the U.S. and is located in the nation's largest health care complex, the Illinois Medical District.
The Northwestern University/Evanston Research Park provides entrepreneurs with the right environment--a small business incubator, a business development and technology center, and a seed capital fund. The University, City of Evanston and private industry have formed a unique alliance devoted to finding high technology solutions to the problems of industries.
Based at the Research Park, Digital Optics International Corporation began as a startup venture-NiOptics Corporation--springing from the University of Chicago. With seed money from the State, NiOptics leveraged $8 million in private capital and with its computer company partners, developed and patented a new backlight technology for LCD display screens. The business and patent rights were sold to a major corporation in 1995, and the restructured firm, Digital Optics, is developing technology to brighten projection televisions and displays.|
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Venture Capital
Twenty-one technology companies in Illinois attracted more than $161 million in venture-backed investment in 1996, 43 percent of the total venture investments made in the state. The communications and software & information industries led the state's technology investments, attracting more than 90 percent of the venture capital dollars. Software and information companies attracted $85 million and communications $67 million.|
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High Tech Businesses in Illinois
Illinois is one of the top five states in the nation for high technology employment, according to the American Electronics Association. Illinois now has more high tech jobs than Massachusetts (198,720 compared to 197,404) and the state's high tech economy continues to grow.
The information technology sector is one of the shining stars of this economy. According to the Chicago Software Association's 1996 report, almost 89 percent of Illinois= high tech jobs are in this sector. And the 9,614 information technology firms represent a 12.5 percent increase from 1995. The average weekly wage of an information technology worker in Illinois is $1,031, while the average wage for all industry sectors in $598.
IT businesses thrive in Chicago-Cook County. U.S. Robotics grew up here as one of the fastest growing companies in the nation. According to Technology Transfer Business, six other Illinois firms are among the 500 fastest growing tech companies in the nation. Advance Ross Co. and U.S. Cellular in Chicago. Sigmatron International in Elk Grove Village. Platinum Technology in Oak Brook. Celex Group in Lombard. M-Wave in Bensenville.|
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Illinois'
Top Six Technology Sectors |
Industry |
Employees |
Establishments |
Telecommunications |
80,042 |
1,413 |
Biomedical |
55,073 |
1,280 |
Electronics |
51,124 |
1,444 |
Computer Software |
41,688 |
4,049 |
Advanced Materials |
27,602 |
561 |
Environmental Technology |
27,043 |
1,418 |
Total |
282,572 |
10,165 |
Total All Industries |
4,704,040 |
298,841 |
Reprinted from "Today's Emerging Technologies," The Illinois
Coalition
Source: Illinois Department of Employment Security, 1995 |
Illinois Science and Engineering Indicators |
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Illinois |
U.S. |
IL Rank |
Gross State Product |
$294.4 billion |
$5.9 trillion |
4 |
Doctoral scientists and engineers employed |
20,684 |
511,625 |
7 |
Sci & Eng PhDs awarded annually |
1,384 |
24,409 |
5 |
Sci & Eng graduate students |
21,755 |
438,128 |
6 |
R&D performed |
$6.7 billion |
$161,427 billion |
9 |
Patents issued to state residents |
2,834 |
56,039 |
5 |
Reprinted from "AIl linois' Technology Sectors," Illinois
Coalition, 1994
Source: National Science Foundation |
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