United States

Chicago

Attraction Phase

In bringing entrepreneurs from around the world to Chicago, we have found that this city has one of the most collaborative and diverse entrepreneurial communities in the world.

Peggy Parfenoff
President of WorldChicago

Sub-sector Strengths

AI, Big Data & Analytics

Chicago is home to 14,000 technology companies employing roughly 340,000 people. In 2018, Tempus raised $110 million in a Series E round, giving it a valuation of $2 billion. Other startups to look out for include Uptake, an industrial AI and IoT platform, which raised $117 million in Series D funding and Instana, a solution that monitors dynamic apps, which raised $30 million from Accel and Meritech Capital Partners in 2018.

Fintech

Chicago is the second-largest central business district in the United States and home to the Chicago Stock Exchange and nine Fortune 1000 financial services companies. The City of Chicago’s ChicagoNEXT program includes initiatives like the Blackstone Inclusive Entrepreneurship Challenge, ThinkChicago, and a new Fintech Committee. Success stories include Avant, an online lending platform which is valued close to $2 billion. In 2017, Snapsheet raised $12 million from Tola Capital in Series D round.

Why you should invest in Chicago

SOFTWARE STARTUP OUTPUT
2.1 k-2.9 k
GLOBAL AVG.
1,010
ECOSYSTEM VALUE
$14 bn
GLOBAL AVG.
$5 bn
Top 15 Global Ecosystem
Fintech
Top 20 Global Ecosystem
Artificial Intelligence
4
Exit Growth
INDEX
5
Output Growth
INDEX
3
Funding Growth
INDEX

Reasons to move your startup to Chicago

EARLY-STAGE FUNDING PER STARTUP
$276 k
GLOBAL AVG.
$284 k
TOTAL EARLY-STAGE FUNDING
$670 m
GLOBAL AVG.
$837 m
SOFTWARE ENGINEER SALARY
$86.3 k
GLOBAL AVG.
$58.3 k

Women in startups

A third of the city's startups are founded and run by women. WiSTEM, a program at 1871 provides additional resources to women-owned startups in Chicago.

University programs

The Illinois Institute of Technology, Northwestern University, and the University of Chicago each operate startup incubators and offer programs in entrepreneurship and computer science.

Startup Community

Startup Genome
Partners & Members

Catapult Chicago
University of Chicago
Matter Chicago
mHUB
The Shift Chicago
1871
WorldChicago

Featured Articles from
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