MATTER, a center for Health Tech entrepreneurship is under development in downtown Chicago, IL. This 25,000 sq ft non-profit facility will provide a unique environment for healthcare IT and biotechnology entrepreneurs to interact, share resources, exchange information, access industry experts and local talent. Building on the success of the digital startup hub,1871, MATTER hopes to serve as a place for entrepreneurs and business experts to foster increased collaboration and support innovative ideas to create new products and services for healthcare. In addition this shared environment aims to:
- Increase local risk capital investment
- Attract talent from around the world
- Create jobs in Illinois
Along with private and shared office space, MATTER will provide space for more casual meet-ups and large presentations. The startup BioHub will also host classes, workshops and events designed to encourage problem-solving by providing entrepreneurs with new skills and generating novel ideas.
The life science industry in Illinois has a $98 billion economic impact. Following a $4 million investment by the state of Illinois, MATTER is currently being built in Merchandise Mart in downtown Chicago, in close proximity to 1871, in what now is being called ‘Silicon hallway.’ Based on the success of 1871, generating >200 startups and >1000 jobs since its inception in 2012, MATTER hopes to become the central focal point for the Healthcare and medical devices communities in Chicagoland.
Healthcare and biotechnology startups and innovation in Chicago are often viewed as being challenged by a lack of density and connection between its universities, hospitals, biotech’s, and pharmaceutical companies. MATTER will be a place for very early stage incubation and company formation, a place for people to meet and to learn. By putting diverse expertise in direct proximity to one another MATTER hopes to foster this interaction and to stimulate innovation, entrepreneurship, investment and the overall goal of forming new companies in Chicago.
While it remains to be seen whether MATTER will deliver on its potential to promote and support entrepreneurship in Healthcare and biotechnology, the buzz is certainly in the air and we are excited to see what it can deliver. MATTER is scheduled to open in Autumn 2014.
Follow MATTER on Twitter: https://twitter.com/MATTERChicago
View the MATTER website: http://www.matterchicago.com/
View the MATTER Facebook page: https://www.facebook.com/pages/MATTER-Chicago/409178175894906?fref=ts
By Ben Hall & Daniel Leventhal
Thank you to Steven Gould and Andrew Cittadine from MATTER.