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UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

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    Events News Research Park

    2018 Table Tennis Tournament Was a Hit

    The 2018 Research Park Table Tennis Tournament was a great success yet again. There was a huge turnout of 96 participants as well as many spectators who cheered on their coworkers, family members, and friends. After hours of playing with high tensions and high stakes, Oath came out victorious and took home the coveted golden paddle. Congratulations to everyone who participated and to all of our winners. Here is a full list of winners from each category: Beginner: Aneesh Mysore (Country Financial) PoHeng Chen (Oath) Yong Jin (YJ) Kim (Syngenta) Intermediate: Kedar Gundlupet (Oath) Xi (Daisy) Chen (Oath) Abish Abraham (Gartner) Advanced: Allie Wafta (Oath) Nilam Sharma (Oath) Yong-Bin Kim (Caterpillar) Golden Paddle Winner: Oath  

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    News Research Park

    New study highlights immigrant contribution to Champaign’s STEM workforce

    A first-of-its-kind study shows that Champaign County’s STEM workforce is bolstered by immigrants. Data collected in the “New Americans in Champaign County” published by the University YMCA shows that 1 in 4 STEM workers are immigrants but make up just 11.6 percent of the county’s overall population. We, at the Research Park, are proud that ideas from all over the world meet here. Throughout the year, we celebrate this international community at events that mark significant holidays. Further, we eagerly supported the University YMCA’s study alongside the City of Champaign, City of Urbana, and Champaign County Economic Development Corporation. The infograph below illustrates the county’s diverse immigrant population. The study tells us about the influence of the university in ways other immigrant reports do not because it defines “immigrant” as “Anyone not born to a U.S. Citizen, regardless of current status.” Thus, the analysis includes students on non-immigrating visas – many of whom take internships, found start-ups and/or graduate to full-time positions in the Research Park ecosystem. The authors’ summary conveys a clear theme similarly felt in the Research Park ecosystem: The message of this report can be encapsulated in one word: interdependence. Far from ‘aliens’, immigrants are our neighbors, colleagues, and friends, and as this report illustrates, what affects them will impact the entirety of our community–immigrant and U.S.-born. For more information on the New American Welcome Center, visit their website HERE.

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    News Research Park

    Illinois Ignite to feature faculty startups

    At Research Park, we are proudest of researchers who meaningfully connect their work to the world’s felt needs. The inaugural Illinois Ignite tech showcase in Rosemont, IL will demonstrate how Illinois’ prominent research universities do precisely that. Start-ups and technology growing out of these research institutions are significantly affecting the fields of oncology, neuroscience, artificial intelligence, security, robotics, and advanced materials. Of the more than 35 tech-based entrepreneurial faculty presenters, six University of Illinois at Urbana-Champaign faculty co-founders who graduated or are currently incubating start-ups in the Research Park will present. Brighten Godfrey Associate Professor of Computer Science Faculty co-founder of EnterpriseWorks graduate: Veriflow Speaking on “Continuous Network Verification and Congestion Control” Mani Golparvar Fard Assistant Professor in Civil Engineering and affiliate in Computer Science Faculty co-founder of EnterpriseWorks tenant: Reconstruct Speaking on “Geometry- and Appearance-Based Reasoning of Construction Progress Monitoring” Stephen Boppart Professor in Electrical and Computer Engineering, and Bioengineering Faculty co-founder of EnterpriseWorks tenant: PhotoniCare Speaking on “Stain-Free Slide-Free Histopathology Platform with Biomarkers of Cancer” Wen-Mei Hwe Professor of Electrical and Computer Engineering Faculty co-founder of EnterpriseWorks graduate: MulticoreWare Speaking on “Game Changing AI and Block Chain Systems at the IBM-Illinois Center for Cognitive Computing Systems Research (C3SR)” Rashid Bashir Professor of Electrical and Computer Engineering, and Bioengineering Faculty co-founder of EnterpriseWorks tenant: Prenosis Speaking on “Analysis of Blood and Tissue Using Chip Scale Sensors” Paul Braun Professor of Materials Science and Engineering Faculty co-founder of EnterpriseWorks graduate: Xerion Advanced Battery Corp. Speaking on “Paradigm Changing Materials for Energy Storage” Topics you don’t want to miss: Social Good & Sustainability Data Analytics & Robotics Materials by Design What’s Next in Blockchain, Security & Artificial Intelligence Frontiers in Neuroscience Breakthroughs in Oncology

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    Media Mentions News Recognition & Awards Research Park

    UI Chancellor Jones praises the Research Park as “wildly successful”

    In an event Tuesday, May 22 at the I Hotel and Conference Center, UI Chancellor Robert Jones presented and answered questions on the university’s plans to expand private-public investment in research and entrpreneurial programs. He assured the approximately 100 community leaders present that the UI Research Park will continue to have a major role in future public-private research partnerships. Promising to expand the UI Research Park, he called the park already “wildly successful.” Director of the Research Park, Laura Frerichs, attended the event and live-tweeted the Chancellor’s speech: “Our Research Park is the most important and visible innovation hub in IL, it’s the most transformative university research park model in the US.” The talent pool from Chicago is not the only ingredient the Champaign-Urbana innovation community can look forward to. Chancellor Jones highlighted that the UI incoming freshman class may break the record number of 7,592 enrolled in 2016. Additionally, 32 students have been enrolled in the soon-to-be-opened Carle Illinois College of Medicine which he expects will “revolutionize health care, how medicine is taught and how medicine is practiced.” When discussing the impending implementation of a future business and community advisory council to the UI, the chancellor stated that “A great university must start on the shoulders of a great community.” He confirmed the motivation behind the council by acknowledging “We’re investing in the community, but we need to do more.” “We must work together. The university must make a difference in the world, and that difference has to start here in Urbana-Champaign.” Read more about the meeting in the News-Gazette.

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    Graduates Media Mentions News Research Park

    Three Research Park Alums make the Crain’s 20 In Their 20’s List

    Research Park alums took over the Crain’s 20 In Their 20’s List. Three companies that spent time in the Research Park were  Dan Klein with Tiesta Tea, Ashley Moy with Cast21, and Lucas Frye with Amber Agriculture all made the list for their outstanding development in innovation and technology. Klein and Moy were both graduates from the EnterpriseWorks incubator here at the University of Illinois Research Park and Frye spent a year in the Research Park Developing his company. Tiesta Tea started its journey in the EnterpriseWorks incubator at the University of Illinois Research Park. Klein shared with Crain’s that the idea for his company came when he was in a teahouse in Prague and “couldn’t understand why the fruity, flavor-packed loose-leaf varietal he was sipping wasn’t widely available in the U.S.” From there his company hasn’t stopped growing and is expecting a revenue of around $8 million this year. Cast21 was another company that began its journey in the EnterpriseWorks incubator. Moy’s company started as a senior design project. The idea for Cast21 was based off of the experiences of Moy’s cofounder, Jason Troutner. Troutner had spent a lot of time in uncomfortable and impractical casts due to injuries and he and Moy wanted to change that experience for those in the future. The team created a cast that was breathable, waterproof, and more accessible. The cast has a web-like design that can be moulded to the wearer’s hand and allows them to do more with the cast on, like take a shower easily. Moy plans on putting the cast through medical testing and hopes the cast will make it to market later this year. Although Lucas Frye and Amber Agriculture only spent a year at the Research Park, they left their mark on Champaign-Urbana and took home the 2016 Cozad New Venture competition prize. Frye grew up in a very small farming town and used that to his advantage to create a device that measures moisture for grain, one of the most important elements in successfully achieving a good crop. Read more about the companies in Crain’s article here.  

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    EnterpriseWorks Graduates News

    EnterpriseWorks Graduate, Revolution Medicines, receives $56M Series B

    EnterpriseWorks graduate, Revolution Medicines, tees up for oncology IND for $56M Series B Venture Capital Investment. The capital has been raised from Nextech Invest, The Column Group, and Third Rock. Current CEO, Mark Goldsmith, said, “We appreciate the strong support shown by our founding and new investors in this significant financing that will fuel the advancement of our exciting SHP2 program and innovative pipeline.” Revolution Medicines began at the University of Illinois in 2014, founded by Professor Marty Burke. Its purpose was to develop a platform to rapidly open chemical space hereto inaccessible for drug development, while enabling Ph.D. chemist to focus on the utility of molecules rather than the synthesis of the molecules. Essentially, Revolution can attack targets that were previously considered undruggable. Since 2014, the company has begun to focus on oncology, and the $56M will help put the SHP2 program into the clinic. The SHP2 program focuses on a molecule that blocks SHP2, a protein that regulates cellular proteins, but also acts as a driver of certain cancers and as a signaling node in various regulatory pathways. Revolution will continue with its discovery and research and expects to test its SHP2 drug as a monotherapy and in combination with other treatments for patients with advanced cancers. “The raise of new capital, expansion of our executive team and board with seasoned leaders, and multiple presentations about progress in our SHP2 program at the recent AACR conference all reflects enormous momentum in our effort to outsmart cancer,” said Goldsmith. Read the full story here.

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    News Research Park

    AXIS Capital and Gies College of Business Establishes the AXIS Risk Management Academy

    AXIS Capital, a global specialty insurer and reinsurer located in Research Park, has partnered with the University of Illinois Gies College of Business to establish the AXIS Risk Management Academy, which will “provide Illinois students who are interested in pursuing a career in risk management with research and professional development resources and experiences to suprport their undergraduate work.” AXIS Capital opened at their research center at Research Park in 2013, and plans on contributing $1.5 million towards the new academy.  Albert Benchimol, President and CEO of AXIS Capital, told Yahoo News that, “We wish to help develop a new generation of professionals within the field in order to bring emerging ideas forward that will ensure the continual and effective management of risk in society…we are very pleased to grow our relationship with the University of Illinois, one of the top finance and actuarial schools and a leader in (re)insurance research and education.” Read the full story on Yahoo Finance.

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    EnterpriseWorks Graduates Media Mentions News

    Tiesta Tea Recognized on Inc’s 2018 30 Under 30 Rising Stars

    Read the full list on Inc.  Tiesta Tea began its journey as a startup in the EnterpriseWorks incubator at the Research Park, founded by Dan Klein and Patrick Tannous in 2010. The company sells affordable loose leaf tea to American consumers in a variety of fun and delicious flavors. Today, they have been recognized as one of Inc.’s 30 Under 30 Rising stars. The company is now based in Chicago, where it has products in 6,500 stores nationwide, including household names such as Target, Costco, and Whole Foods. By the end of 2018, the company is expected to reach $8 Million in revenue, which is up from $4.4 Million in 2017. Research Park residents can find Tiesta Tea in the kitchen at the EnterpriseWorks incubator.

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    EnterpriseWorks News Partnerships & Acquisitions

    PhotoniCare Debuts New Product and Investors

    EnterpriseWorks startup PhotoniCare, a medical device company building a low-cost diagnostic platform for the front-lines of medicine, has secured Series Seed funding to fund their new product. The startup’s new product, Clearview, allows doctors to visualize contents of the middle ear, which will change the way clinicians manage middle ear infections. Middle ear infections are one of the most common diseases in the world, and with the help of the new investors, thier product will, “open a new field for ear infection work-up management, enhance quality outcomes for patients while saving the overall healthcare system from wasteful and unnecessary treatments, and potentially eliminate the abuse of antibiotic prescriptions and accompanying risk of antibiotic resistance.”

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    News Partnerships & Acquisitions Research Park

    Synchrony Opens Emerging Technology Center at Research Park

    SYNCHRONY OPENS EMERGING TECH CENTER AT THE UNIVERSITY OF ILLINOIS TO DEVELOP ARTIFICIAL INTELLIGENCE SOLUTIONS Champaign, Illinois (April 12, 2018) – The University of Illinois today announced that Synchrony (NYSE: SYF), a leading consumer financial services company, has opened the Synchrony Emerging Technology Center at the University of Illinois Research Park. The Emerging Technology Center will focus on advancing Synchrony’s finance and technology capabilities as well as providing real-world skills for students in artificial intelligence, data science, human-centered design and other emerging technologies. Current projects include ‘Ensemble Methods,’ exploring the potential applications of machine learning to credit risk modeling, and the ‘Machine Vision’ project, aimed at transforming the in-store shopping experience by removing the need for the traditional checkout process. “Developments in artificial intelligence and machine learning have the potential to reshape entire industries. The key for the financial services and retail sectors now lies in understanding how to best harness these technologies to solve real-world problems and deliver better hyper personalized customer experiences,” said Greg Simpson, Chief Technology Officer and Artificial Intelligence leader at Synchrony. “By bringing together the sharpest minds from Synchrony and the University of Illinois, we now have the ability to accelerate the development of these artificial intelligence solutions while building our pipeline of technology talent.” The students in the program will work closely with Synchrony technology experts to commercialize solutions for the company’s partners. Projects can range across multiple disciplines, such as basic market and technology research, big data analytics, proof-of-concept creation, data visualization, and software development. Synchrony VP of Technology Ujjval Patel will recruit and train student talent for the Emerging Technology Center. The new partnership builds upon Synchrony’s existing relationships with other educational institutions and complements the company’s four global Innovation Stations. “Synchrony is developing the future of finance, and what better place than the University of Illinois where it can leverage our expertise in data sciences and computing,” said University of Illinois at Urbana-Champaign chancellor Robert J. Jones. “Synchrony’s brand of financial firepower presents interesting opportunities that will engage University of Illinois faculty and students alike.” Press: Business Wire About synchrony Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $130 billion in sales financed and 74.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchronyfinancial.com and through Twitter: @Synchrony.

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