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Crunchbase: UIUC Alumni Among Top Founders Attracting Startup Funding

A degree from the University of Illinois Urbana-Champaign is a common possession of funded founders. Crunchbase, a platform for finding business information on private and public companies, released data pertaining to the correlation between one’s degree and one’s probability of becoming a funded founder. Its findings exhibit which U.S. Universities have produced the greatest number of founders. The dataset looks at founders from these schools that have raised $500,000 or more from 2021 through 2022, according to the article. The University of Illinois Urbana-Champaign ranks No. 14 with 70 funded founders reaching the threshold. It is one of only four public universities in the top 15. While there is no necessary credential for becoming a prosperous startup founder, data, along with history of innovation, indicates that great entrepreneurs come from a range of backgrounds. “Schools that are known for being hard to get into, in general, seem to be fortuitous choices for future funded entrepreneurs,” wrote Crunchbase. The technology advanced University of Illinois combines its values of innovation and creativity to generate an environment that leads to its quantity of successful funded founders. Ranking chart below. (SOURCE: Crunchbase)

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Community EnterpriseWorks Features News Recognition & Awards Research Park

EarthSense Co-Founder Chinmay Soman Talks AgTech Trends and Company Success in Recent “Innovations” Research Park Podcast

The latest episode of the Innovations @ Research Park Podcast delves into the history and background of EarthSense, an agricultural robotics and AI company that is a tenant here at the Research Park. Host Tanmay Shaw facilitates a discussion with Chinmay Soman, co-founder and CEO of EarthSense. The podcast delves into the origin story of the company as well as Soman’s drive to make a difference in the agricultural industry. Soman explains that the main mission behind EarthSense came from a desire to help farmers. Soman tells the story of growing up in India and having many extended family members that made a living by farming. Around the time that Soman was finishing his Ph.D., farming in India underwent many changes that led to a larger proportion of farmers being in debt. This led to increased suicide rates for individuals in this profession, which was something Soman was motivated to change. EarthSense was founded to innovate the AgTech industry while also keeping in mind environmental sustainability. They primarily focus on creating ground-based robots that are able to collect data on crops and soil. TerraSentia, their first robot, improves the quantity, accuracy, cost, and speed of in-field plant trait data collection, specifically for under canopy plants. Tune in to hear more on Soman’s perspective on future autonomous agricultural trends, EarthSense’s recent successes, and the importance of Research Park as a resource to the startup. To listen to the podcast, visit iTunes Podcasts, Spotify, or wherever you prefer to download your podcasts. Is there something you want to know about Research Park? Do you have an idea for a guest for the show, or a story we should pursue? Do you want to provide other feedback? Contact Laura Bleill (lwbleill@illinois.edu).

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EnterpriseWorks Investments News Recognition & Awards Research Park

EnterpriseWorks Startup Natrion Secures $2 Million in Funding from Major Backers

Natrion, a battery research and development startup based in Research Park’s EnterpriseWorks incubator, announced Wednesday that they have secured $2 million in seed funding. Natrion is the only company in the world to commercialize a ceramic-polymer composite battery solution for electric mobility and defense applications. The funding round was led by Chicago-based TechNexus Venture Collaborative, Champaign’s Illinois Ventures, Mark Cuban of Shark Tank, and other private investors. Natrion has previously received significant funding from the U.S. Department of Defense including a STTR grant to develop its products. “Natrion’s streamlined R&D approach and business model are what really differentiate the company in the battery market. They’ve already secured major commercial traction in the automotive space and we’re looking forward to what they achieve next,” said Mark Cuban. This seed round was the company’s first major private capital raise, and with it Natrion plans to build out in-house pouch cell prototyping capabilities at its R&D center in EnterpriseWorks to allow rapid-prototyping and validation of their patented Lithium Solid Ionic Composite (LSIC). This is Natrion’s first step towards scaling up and provides potential to build out a pilot production line next year. Natrion was founded in 2018 by Alex Kosyakov, a University of Illinois undergraduate engineering student. Before founding the startup, Kosyakov was part of iVenture Accelerator and Hacking for Defense. In the past, Natrion has been awarded funding from Cozad Assessment Management and Illinois Ventures, as well as being granted SBIR funding with help from the Illinois Fast Center. Read the full news release here.

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EnterpriseWorks Graduate Starfire Industries Announces Transformative Expansion

Starfire Industries Announces Expansion in Champaign, New Facility to Support Deep Technology Manufacturing and Research & Development  Starfire’s new 194,000 square foot facility will create 22 full-time deep tech jobs (News-Gazette Story) CHAMPAIGN – May 20, 2022 – Today Starfire Industries, LLC announced an expansion to establish a new manufacturing facility in Champaign, Illinois, located at 3310 N. Duncan Road. The $9.4 million project accommodates growth to a 194,000 square foot facility to increase manufacturing and research & development capabilities. The project will create at least 22 full time-jobs and retain 20 full-time jobs, as well as support 12 engineering co-op and part-time professional jobs. “Technology investments over the past 12 years in compact particle accelerators and high-power plasma sources have resulted in game-changing innovations”, says Starfire President/CEO Brian Jurczyk. “Our team is making significant impacts across the semiconductor, nuclear, aerospace, medical, environmental, energy, mining, automotive, and security industries. Starfire reached the point where it needed to scale; finding the right location for expansion was critical. The former Patterson building is a unique space with a combination of office, engineering, manufacturing, and distribution that will support Starfire’s growth for years to come. We are excited to make this place our home and stay within the robust Champaign-Urbana deep technology ecosystem.” The Starfire team in summer 2021. Photo credit: University of Illinois Research Park Starfire Industries, recently named one of the top-10 worldwide non-destructive testing companies by Manufacturing Outlook Magazine, specializes in portable high-energy particle accelerators for diagnostic imaging, environmental sensing, active interrogation, and even oncology therapeutic treatments. This is accomplished using a process that combines physics, math, chemistry, and biology to create a strategy for inspecting, examining, and testing materials for flaws, defects, and more. Starfire’s patented Centurion® system is being used for the rapid detection of per- and polyfluoroalkyl substances in groundwater and soil samples and quantification at the ppt level to meet stringent EPA and EU standards. Starfire is a multi-disciplinary deep technology company leveraging technical depth in many fields. The team consists of several PhDs in nuclear, plasma, radiological and electrical engineering, as well as engineers from electrical, mechanical, aerospace and material science. Starfire’s patented IMPULSE® product has revolutionized thin-film coatings by providing precision engineering of materials at the atomic scale. Their technology is used in the manufacture of photovoltaic, superconductor, fuel cell and battery storage systems—as well as coatings on full-length nuclear fuel rods to increase strength, corrosion resistance and accident tolerance under an SBIR project with the DOE Office of Nuclear Energy and Westinghouse. “The new facility will give us the space for a pilot in-line production system to process the long and difficult to handle nuclear fuel cladding”, says Starfire VP/CTO Robert Stubbers. “The combination of engineering, processing, QA/QC testing and distribution space is advantageous.” Starfire develops solutions to solve challenging problems, moving ideas from the whiteboard to production. They work with a variety of federal and international organizations on innovative research & development and with a broad spectrum of global companies on products and services to meet their demanding applications. “Starfire Industries is truly a homegrown success story, and one we’re proud to celebrate,” said Carly McCrory-McKay, executive director of the Champaign County Economic Development Corporation. “This story is a testament to what’s possible in Champaign County and the state of Illinois. Under Brian’s leadership, the company has grown from a startup to a large-scale manufacturing facility. We’re grateful for their continued investment in our community and we look forward to supporting their growth.” “We are so delighted that the Starfire team chose to stay in Champaign and continue to grow their company where it began,” stated City of Champaign Mayor Deborah Frank Feinen. Since graduating from the EnterpriseWorks startup incubator at University of Illinois Research Park in 2009, Starfire Industries has grown from concept research & development to manufacturing plasma sources, neutron generators and high-voltage power supplies for a range of industries. They will soon move from their existing Champaign location, a 14,000 square foot facility in University of Illinois Research Park, to an impressive 194,000 square foot technology center. The 3310 N. Duncan Road expansion will enable greater on-site collaborative partnerships, direct services to end-users under strategic supplier agreements, manufacturing and global distribution. “Starfire is a stellar example of the deep tech innovation that emerges from scientists at the University of Illinois and that remains in Champaign County for the tech and engineering talent needed to fuel its continued growth,” said Laura Appenzeller, UI Research Park Executive Director. “We are so grateful to have launched their small business at the Research Park and thank the founders for their perseverance, innovation, and dedication to their employees.” The expansion is scheduled for completion in 2023. About Starfire Industries, LLC:  Founded by Brian Jurczyk, PhD MBA, and Robert Stubbers, PhD, Starfire Industries LLC is a “deep technology” company focused on nuclear and plasma technologies for demanding applications. Starfire produces the nGen® and Centurion® ultra-compact particle accelerators used for medical therapy, environmental sensing, nuclear security, and non-destructive imaging.  Starfire produces the IMPULSE® and RADION™ pulsed power plasma sources and systems used for nuclear fuel fabrication, superconductor coatings, semiconductor EUV lithography, lightweight electric vehicle assembly, high-temperature aerospace materials, and thin-film deposition and etching applications. Their industry-changing solutions are designed, manufactured, and delivered from their headquarters in Champaign, Illinois to end-users across six continents and Earth orbit. Learn more at https://www.starfireindustries.com/.

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Events News Research Park

French Government Delegation Visits Research Park to Glean Best Practices in AgTech

A delegation of French senators visited the EnterpriseWorks incubator and Research Park in late April as part of a mission to glean best practices in agtech. The delegation visited early-stage startups at the incubator and spent time with the team behind EarthSense, a University of Illinois spinout building AI-enabled robots that plant cover crops and perform other tasks. Called the United States Interparliamentary Friendship Group, the delegation of five French senators stopped in Central Illinois as part of a larger multi-state tour dedicated to learning about emerging technologies around AI, wrote Farm Week Now.   The group’s members include Sénateurs Antoine Lefèvre, Laure Darcos, Jérôme Durain, Fabien Genet and Sylvie Vermeillet. The senators’ visit to the University of Illinois Research Park also featured a tour of Genective, a biotechnology company specializing in corn genetics. Genective, a joint venture between two European seed corporations, moved its headquarters from Paris to Champaign in 2019. Read the entire story at FarmWeekNow.com.

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Community Events News Research Park

University of Illinois Foundation Breaks Ground on Philanthropy Center at Former Feed Mill Site

The University of Illinois Foundation will soon begin construction on a new Center for Philanthropy in the Research Park. The Foundation’s headquarters will move to the 60,000 square foot building. University leaders cited the building as an opportunity to serve as a hub of activity for its donors, partners and friends, as well as a home for its development professionals. Target completion of the project is expected in 2023. “We are thrilled that we will be neighbors to the Research Park,” said James H. Moore, Jr., Foundation president/CEO, at a groundbreaking ceremony on May 9. The building site is on the south side of the University of Illinois Urbana‑Champaign campus, where the old feed mill used to stand at the corner of Fourth Street and St. Mary’s Road. It sits next door to the I Hotel and Conference Center, and across the street from State Farm Center and other Illini athletics facilities. The Foundation’s workforce has grown from 14 employees in 1974 to more than 170 employees today.  Once the Philanthropy Center is open, the team will consolidate operations there. Most notably, it will vacate the historic Harker Hall — which sits next to the Illini Union on the main Quad — a building the Foundation restored in the early 1990s. Harker Hall will return to campus control. In addition to employee workspaces, the building will include facilities for hosting alumni and friends including a third-floor indoor/outdoor space with a terrace featuring an excellent view of campus. The building will also serve as a learning hub for the entire University of Illinois advancement community with space for peer-to-peer collaboration, training, and professional development. The project will be chronicled through photos and videos on the University of Illinois Foundation website.

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EnterpriseWorks Investments News Recognition & Awards Research Park

Network Perception Secures $13 Million in Series A Funding

Network Perception, a cybersecurity startup, recently secured a $13 million Series A funding round. The company, which graduated from the Research Park’s EnterpriseWorks incubator in 2019, translated university research into a commercial product. The funding round was led by The Westly Group with participation from Energy Impact Partners and other existing investors, including Champaign’s Serra Ventures. The Series A funding brings Network Perception’s total venture capital funds raised to $15.73 million. “The security of critical OT assets is essential to public safety and the operation of everyday services that we all rely on – from energy delivery to manufacturing and transportation,” said Robin Berthier, Network Perception CEO and Co-Founder. “This infusion of funding will allow us to take network security to a new level, bringing greater control and visibility to administrators, and eliminating potential weaknesses before they are exposed. In today’s operational technology environment, this is not only important, but imperative.” Network Perception has a long history in Champaign-Urbana. The company began receiving startup support services from EnterpriseWorks in 2012.  located at the EnterpriseWorks incubator from 2014-2019 and now resides in Chicago. During its startup journey Network Perception received I-Start funding, SBIR funding, and EIR support. Network Perception came about as a result of work conducted through the Trustworthy Cyber Infrastructure for the Power Grid project, funded from 2009-2015 by the Department of Energy with support from the Department of Homeland Security. Additional grants helped faculty co-founders David Nicol , ECE professor, and former UIUC professor William Sanders, now Dean of Engineering at Carnegie Mellon, transition the technology from academia to the marketplace. Read the full news release here.

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Features News Recognition & Awards Research Park

Genective’s Qiaoni Linda Jing Named Entrepreneur Of The Year Finalist

Ernst & Young LLP (EY US) announced this week that Qiaoni Linda Jing, President, CEO and Board Director of Genective was named an Entrepreneur Of The Year 2022 Midwest Award finalist. Entrepreneur Of The Year is a competitive business awards for entrepreneurs and leaders of high-growth companies who “think big to succeed.” Jing was selected by a panel of independent judges according to the following criteria – entrepreneurial spirit, purpose, growth and impact – among other core contributions and attributes. Genective is a technology joint venture of Groupe Limagrain and KWS Group, the largest seed companies in France and Germany, respectively. Its offices and labs are located at the University of Illinois Research Park in Champaign. “I am thrilled for this great recognition, not only for myself, but for all the team members at Genective,” said Jing. “Three years ago, I embarked on a journey to reestablish Genective in the U.S. Midwest, putting us at the heart of one of the most vibrant AgTech innovation communities in the world.” “Genective has been on a tremendous growth trajectory over the past three years, despite the challenges of COVID-19. Our team continues to live and breathe our mission of providing novel and sustainable biotech solutions to farmers across the globe,” said Jing. The award recognizes “audacious, game-changing business leaders” who have “ushered in innovation while lifting up their employees and communities.” Genective is dedicated to the research, development, and commercialization of transgenic traits, focusing on insect resistant corn. Regional award winners will be announced on June 14, 2022. The regional winners will then be considered by the National independent judging panel, and National awards will be presented in November at the Strategic Growth Forum. The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year Award in June 2023. For over 35 years, EY US has celebrated the unstoppable entrepreneurs who are building a more equitable, sustainable and prosperous world for all. The Entrepreneur Of The Year program has recognized more than 10,000 US executives since its inception in 1986. 

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Community EnterpriseWorks Features News Research Park

Research Park Podcast Features EnterpriseWorks Startup Reconstruct

Episode 11 of the Innovations @ Research Park podcast features Reconstruct, a venture-backed  startup company that launched and incubated at EnterpriseWorks led by a team of faculty and graduate students from the Grainger College of Engineering. The company — which builds artificial intelligence and  software for the construction and real-estate industries — has more than 1,000 projects underway. Host Tanmay Shah interviews Reconstruct co-founder Dr. Mani Golparvar, associate professor of civil engineering, computer science, and technology entrepreneurship at the Grainger College of Engineering. Golparvar discusses how the early-stage tech startup has “revolutionized” the planning, monitoring, and management of large construction projects around the world. The Innovations @ Research Park podcast highlights the thriving entrepreneurial and corporate innovation culture in Champaign. The host, Tanmay Shah, is a University of Illinois Urbana-Champaign Grainger College of Engineering alumnus. To listen to the podcast, visit iTunes Podcasts, Spotify, or wherever you prefer to download your podcasts. Is there something you want to know about Research Park? Do you have an idea for a guest for the show, or a story we should pursue? Do you want to provide other feedback? Contact Laura Bleill (lwbleill@illinois.edu).

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Inprentus Makes Final Four in ‘Coolest Thing Made in Illinois’ Contest

EnterpriseWorks graduate company Inprentus Inc. made it to the final four of Makers Madness, a bracket-style tournament that celebrates the work and diversity of the manufacturing sector in Illinois presented by the Illinois Manufacturers’ Association. Although Rivian’s all-electric R1T truck was awarded the title of the ‘Coolest Thing Made in Illinois’, Inprentus was also feted by Illinois Governor J.B. Pritzker during a ceremony at the Governor’s Mansion in Springfield. The contest highlights innovative products from across the state. 450 products were entered into the contest this year, and over 200,000 votes were cast by the public to nominate the ‘Coolest Thing Made in Illinois’.  Inprentus makes custom blazed diffraction gratings. These highly precise gratings are utilized in x-ray and ultraviolet experiments at various scientific research institutions. They are also used in optical components for semiconductor manufacturing, augmented and virtual reality glasses, and in materials, chemistry, and life sciences research. Inprentus competed against General Mills’ Fruit by the Foot, the Rivian Automotive electric truck, and Ingersoll Machine Tools’ components for the Orion spacecraft capsule in the final four of the bracket-style tournament. Following its graduation from EnterpriseWorks, Inprentus opened a corporate headquarters in Champaign. It designs and manufactures diffraction gratings sold to Fortune 500 companies, academic institutions, and government laboratories around the world. Inprentus was started in 2012 by University of Illinois physics professor Peter Abbamonte. The company was created with the mission to advance the manufacturing of precision optics using proprietary nano-scale contact-mode lithography techniques. To read the full article, click here.

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