Color-Variation-Orange-Block-I-Blue-Background-1

UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

Research Park

    EnterpriseWorks

    EnterpriseWorks Graduates News Partnerships & Acquisitions Research Park

    VedaBio to Revolutionize Molecular Detection after Tenure as LabSimply at EnterpriseWorks

    VedaBio, a biotechnology company leading a paradigm-shift in molecular detection, launched on October 17, 2023, with initial funding of over $40 million. This company has roots at the University of Illinois-Urbana Champaign and Research Park: VedaBio was formerly known as LabSimply and operated out of EnterpriseWorks from 2021 to 2022. CEO and Co-Founder Anrup Ganguli, PhD, developed multiple research platforms during his time at university in the lab of Professor Rashid Bashir, PhD, Professor of Bioengineering and current Dean of the Grainger College of Engineering. VedaBio is revolutionizing molecular biology with its breakthrough platform for near-instant molecular detection of multiplexed analytes, delivering best-in-class accuracy without the need for target amplification. Their CRISPR Cascade™ platform is poised to emerge as a new gold standard tool to empower decision-making across multiple industries. In the official press release, Ganguli explains that the CRISPR Cascade reaction provides “a platform that delivers near-instant molecular detection of highly multiplexed analytes with best-in-class accuracy, all without the need for target amplification.” He has high hopes for VedaBio, believing “it is poised to emerge as a future gold standard for molecular detection, empowering major advances across multiple applications including research and industrial tools, diagnostics and therapeutics.”  To learn more about VedaBio, read the official press release on the VedaBio website.

    VedaBio to Revolutionize Molecular Detection after Tenure as LabSimply at EnterpriseWorks Read Post »

    EnterpriseWorks Media Mentions News Partnerships & Acquisitions Research Park

    Boston Bioprocess Helping Nourish Ingredients Make a More Realistic Meat Substitute

    Have you ever bitten into a meat substitute product and find yourself longing for the real deal? The aroma, the flavor, the texture, and the taste of… meat? You’re not alone. EnterpriseWork’s very own Boston Bioprocess is teaming up with Nourish Ingredients to create just that– utilizing wild fungi and yeast strains to trick even the biggest meat lovers into thinking they are consuming a meat product. The secret ingredient? To effectively scale and replicate the most potent fat molecules, the ones responsible for making that irresistible, animalistic aroma that makes your mouth water. In a Food Navigator USA article, it was explained that Boston Bioprocess is not only assisting Nourish Ingredients in developing a more realistic-tasting product but ensuring that the product will meet regulatory requirements as well. The partnership between Boston Bioprocess and Nourish Ingredients is coming after a significant drop in the plant-based protein market. Nourish Ingredients CEO James Petrie hopes to change the downward market trajectory. “In one way [it’s] been healthy for [the industry] in the sense that… there’s a bit of pressure on the plant-based industry at the moment and it’s forcing us to take a collective look at the quality of products,” said Petrie. Boston Bioprocess works to provide their clients with the equipment and expertise they need to improve yield, decrease costs, and access product for commercial testing. Visit their tenant directory to learn more about the company. Read the full Food Navigator feature.

    Boston Bioprocess Helping Nourish Ingredients Make a More Realistic Meat Substitute Read Post »

    EnterpriseWorks Media Mentions News Recognition & Awards Research Park

    University of Illinois Ranked 15th in Top 100 Global Universities Ranked by Startup Founders

    The University of Illinois was ranked 15th in PitchBook’s annual university rankings list for alumni startup founders who have raised venture capital in the last decade. This list profiles global universities who have “truly exceptional track record of attracting and producing future entrepreneurs.” The rankings are determined based on PitchBook data analyzing more than 150,000 venture capital-backed founders. Additional ratings for the University of Illinois include: #3 in capital raised among U.S. public institutions #5 in graduate alumni founders among  U.S. public institutions #5 in undergraduate alumni founders among U.S. public institutions #7 in female alumni founders among U.S. public institutions UIUC alumni-founded companies have raised $20.8B through companies including Generate, GRAIL, Farmers Business Network, Heyday, and Plus. For more information and the complete list, visit the PitchBook website.

    University of Illinois Ranked 15th in Top 100 Global Universities Ranked by Startup Founders Read Post »

    Community EnterpriseWorks Investments News Research Park

    Research Park Seeks Support from Champaign City Council for Growth-Stage Wet Lab Project

    LabWorks, which will offer turn-key wet lab and office suites for growth-stage startup companies in Research Park, will be available for occupancy in January. News Channel 20 recently featured the project as the City of Champaign deliberates providing additional funding.  Executive Director Laura Appenzeller told News Channel 20/ FOX Illinois that the EnterpriseWorks building at Research Park helps startups launch, but they need more space and resources to scale.“The right facilities to allow them to grow and life science companies in particular need wet laboratory space,” Appenzeller said. LabWorks will enable startups to establish roots and continue to grow in the Champaign-Urbana community, creating jobs and inspiring innovation. The Champaign City Council conducted a study session on the project in early September. It will be reviewed again in October for a final vote.   The project has financial backing from both private and public sectors. In 2021, Research Park received a grant from the State of Illinois that propelled the project forward. It was then estimated to cost $1.1 million dollars, but the construction expenses rose to $1.3 Million due to inflation. Research Park is asking the city to provide $100,000 of the $200,000 difference. To learn more, read the full article on the News Channel 20 website.

    Research Park Seeks Support from Champaign City Council for Growth-Stage Wet Lab Project Read Post »

    EnterpriseWorks Graduates Media Mentions News Recognition & Awards Research Park

    Two EnterpriseWorks Graduates Included on Inc. Magazine’s Fastest-Growing Companies List

    Two EnterpriseWorks graduates qualified for Inc. Magazine’s 2023 “5000 Fastest-Growing Private Companies in America” list. Both continue to grow their companies in Champaign County.  Serionix, which is known as Colorfil on the list, placed at #752. Eden Park Illumination placed at 2,858.  “Given the tremendous growth we’ve experienced—going on almost 36 months at 13% CMGR (compounded monthly growth rate) —it wasn’t exactly a surprise but is nevertheless a great honor and recognition for our team,” said Jim Langer, Serionix co-founder and CEO.  Eden Park manufactures and deploys patented wafer-thin panels that deliver reliable, safe, and effective Far-UVC 222nm technology that continuously reduces and inhibits air and surface pathogens in densely populated spaces. It was co-founded by faculty at the University of Illinois Urbana-Champaign.  During its days at EnterpriseWorks, Serionix focused on developing products for industrial air purification. The team also enlisted numerous Research Park resources and mentors, including EnterpriseWorks’ SBIR Technical Assistance Program, who helped with grant proposals – a process that CEO Jim Langer said further “helped refine our story and our goals.” The company’s  technology benefits everyone from astronauts to the average cat owner. Langer shared that the next step for the company is to fuel investment in people, channels, and product– investments that will collectively unlock the potential growth for Colorfil. For more information, visit Colorfil’s website. 

    Two EnterpriseWorks Graduates Included on Inc. Magazine’s Fastest-Growing Companies List Read Post »

    EnterpriseWorks Graduates News Recognition & Awards Research Park

    ATSP Innovations Selected by NASA to Provide Prototype Bearings

    Out of this world: Research Park graduate ATSP Innovations has been selected for a Phase II Sequential award from NASA to develop and produce prototype bearing solutions for the abrasive conditions on dusty lunar and Martain surfaces. In a blog on the company’s website, ATSP explains that “As missions are planned by NASA for the lunar surface, steps must be taken to mitigate damage caused by lunar dust.” The technology used on these missions must be protected from the elements, including the mechanical components of landers, rovers, experiments, and in-situ resource utilization implements. ATSP’s wear-resistant polymer tech designs provide adequate protections against the harshest of thermal, atmospheric, and abrasive dust elements in lunar exploration.

    ATSP Innovations Selected by NASA to Provide Prototype Bearings Read Post »

    EnterpriseWorks Investments News Research Park

    Cache Energy Closes $4.5 Million Funding Round

    EnterpriseWorks clean energy startup Cache Energy closed an over-subscribed seed funding round, ultimately raising $4.5 million. The financial support is coming from Grantham Foundation, MUUS Climate Partners and Cantos Ventures. Cantos Managing Director Ian Rountree said, “Cantos is excited to invest in Cache to deploy its unique long duration energy storage solution. An industrial heat application that leverages existing infrastructure without significant storage investment is unmatched to what we’ve seen in the market.” Cache Energy developed a clean “solid fuel” which decarbonizes industrial processes and enables long-duration energy storage. Their technology adopts industrial processes to solve some of the hardest problems on the pathway to net-zero emissions. The low-cost solid storage material is safely stored at room temperature with near zero loss over months and can be easily transported to where energy is needed, providing the same dispatchability as fossil fuels but in a cleaner fashion. “This is a testament to the ever-growing support our grand vision at Cache Energy around decarbonization is receiving,” said CEO Arpit Dwivedi in a LinkedIn post sharing the company-changing news. “The speed at which we have moved is a result of discipline, capital efficiency, practicality of our technology but most importantly the people who continue to support us every day.” With the seed funding, the company plans to demonstrate a commercial pilot later this year. Many congratulations to Cache Energy, Dwivedi, and his team on the funding success. We are looking forward to seeing how Cache Energy grows and expands.

    Cache Energy Closes $4.5 Million Funding Round Read Post »

    EnterpriseWorks News Recognition & Awards Research Park

    Engineer Wins U.S. Bank Foundation Cleantech Inclusion Award for Clean Water Technology

    Dr. Bianca Bailey, the founder and CEO of EnterpriseWorks startup Agriwater, was named the fourth annual recipient of the Cleantech Inclusion award. This award from the U.S. Bank Foundation and Evergreen Climate Innovations supports female and minority entrepreneurs whose work benefits the environment and includes a $25,000 grant and one year of mentorship. Agriwater’s innovative technology specializes in electrolysis that electrifies manure slurry into clean water and other valuable commodities. It emits electrical current through wastewater to remove heavy metals, thereby reducing CO2 emissions and keeping farmers within regulatory compliance. Dr. Bailey started the company in 2021 amid a doctorate program in agricultural engineering at the University of Illinois.  Bailey looks forward to the resources made available by the Cleantech award program. “Being a smart entrepreneur when it comes to technology is also knowing that you can’t just focus on the technology, but you also need to focus on the intellectual property and business implementation of the technology… You can have great technology, but if the business model and everything else doesn’t work out, then it’s simply just a good idea,” – Dr. Bianca Bailey, Agriwater CEO Read more about the award on the U.S. Bank Foundation website.

    Engineer Wins U.S. Bank Foundation Cleantech Inclusion Award for Clean Water Technology Read Post »

    EnterpriseWorks News Recognition & Awards Research Park

    Cache Energy Awarded DOE Successful Energy Innovations Prize

    Cache Energy, an EnterpriseWorks startup, has been awarded the Successful Energy Storage Innovations Prize from the Department of Energy (DOE). The Energy Storage Innovations Prize program is one of several DOE initiatives designed to recognize outstanding energy storage innovators from across the nation which can ensure U.S energy security and self-reliance. Cache Energy was chosen from among some of the best energy innovation projects in the nation to win this recognition and the $10,000 prize.  “The award gives us the highest possible recognition through the dept of energy recognizing the potential of our grid scale technology.” – Arpit Dwivedi, Cache CEO Their patented method of adding storage to existing electricity grids was the driving factor in their selection. Cache Energy is developing a heat battery that can store energy as heat indefinitely and release when needed, either as heat or electricity. This technology can store grid electricity cheaply on a large scale. It can also enable a transition to renewable energy by helping industries move away from fossil fuel and allowing wastewater treatment plants and landfills to store the energy of biogas released, which otherwise is primarily wasted. This innovative technology could have a monumental impact on the nation’s energy supply. In their 2023 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecast that crude oil production in the United States will average 12.4 million barrels per day (b/d) in 2023 and 12.8 million b/d in 2024, surpassing the previous record of 12.3 million b/d set in 2019. With Cache Energy’s patented method of adding energy storage to existing electricity grids, they are paving the way for better use of renewable energy sources. Utilities across the country are taking note of the potential this technology has to reduce energy costs and increase energy efficiency. It could also prove to be a bridge to tougher energy standards in the near future. Cache Energy’s innovative technology is a win-win for both the utility industry and consumers. It may eventually revolutionize the way in which utilities store and deliver energy, and also reduce reliance on more expensive energy sources like gas and coal. They are also the only company from Illinois to win the award this year, and also are one of the youngest recipients of the award. Congratulations to Cache Energy on their outstanding award, and we are looking forward to seeing what the future may hold for their pioneering technology. 

    Cache Energy Awarded DOE Successful Energy Innovations Prize Read Post »

    EnterpriseWorks Graduates News Recognition & Awards Research Park

    DeepWalk Named Industry Disruptor Finalist at 1871’s 2023 Momentum Awards

    EnterpriseWorks graduate DeepWalk was named a finalist in the Industry Disrupter category of the 1871 Momentum Awards 2023. This award is presented to a company that has developed an innovative product that has significantly disrupted the industry. DeepWalk is a mobile app that allows city workers to scan sidewalks helping municipalities comply with ADA requirements and be more informed when making decisions about the hazards & needs in their community. A product of the entrepreneurship programs at the Research Park, DeepWalk spent three years growing in the EnterpriseWorks ecosystem. They use mobile imaging and AI to create more accessible communities. Using the scan data, DeepWalk automatically generates inspection documents, construction documents, & accessibility plans. The 16th Annual Momentum Awards will be held on September 21, 2023, both in-person and virtually for an entire night of celebration and innovation. You can vote for DeepWalk here, until the voting closes on Friday, August 11.  Learn more on the 1871 website.

    DeepWalk Named Industry Disruptor Finalist at 1871’s 2023 Momentum Awards Read Post »