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EnterpriseWorks News Recognition & Awards Research Park

University of Illinois Reclaims Top 10 Spot in PitchBook’s “Top 100 colleges by startup founders”

The University of Illinois has made a notable return to the top 10 in PitchBook’s annual “Top 100 Colleges by startup founders”, ranking No. 10 this year. This is the first time since 2020 that the university has achieved this status, underscoring the significance of this year’s ranking. Illinois is one of four public universities in the top 10. Rankings are based on data collected from tallying the number of alumni entrepreneurs who have raised capital in the last decade, with an analysis of nearly 167,000 venture capitalist-backed founders. Additional rankings for the university include Illinois alumni-founder companies have raised $21.1 billion in undergraduate startup capital and $15.9 billion in graduate capital through ventures like Generate, GRAIL, Farmers Business Network, Heyday and Plus. The university’s strong entrepreneurial spirit is reflected in the notable EnterpriseWorks startup graduates Ascent Integrated Tech and DeepWalk. Ascent is dedicated to improving first responders’ and warfighters’ safety and efficiency through technology that enhances situational awareness. DeepWalk Research, through its scanning software, helps improve pedestrian infrastructure to ensure accessibility to everyone.  For more information and the complete list, visit the PitchBook website.

University of Illinois Reclaims Top 10 Spot in PitchBook’s “Top 100 colleges by startup founders” Read Post »

EnterpriseWorks News

Geeta Singh and Magnus Andersson join EnterpriseWorks Entrepreneur-in-Residence Team

Experienced C-Suite executive Geeta Singh and serial startup founder Mangus Andersson have joined the EnterpriseWorks EnterpriseWorks Entrepreneur-in-Residence (EIR) team, which provides free consulting to local startup ventures and prospective technology entrepreneurs. Singh is a global C-level executive with over 25+ years of strategy and finance experience across a wide variety of sectors. Her expansive reach includes public and private companies and early-stage startups, with a concentration in life sciences, financial services, hospitality and tech. Most recently, she was the founder/CEO of a clinical-stage medtech company, MAG Optics, and CEO of a clinical-stage biotech, Primevax. She continues to advise executive leadership teams and boards on critical business initiatives that include human and financial capital and early-stage companies on corporate fundraising strategy, board governance, executive team building, capital allocation and overall financial discipline. She has a bachelor’s degree in finance from the University of Illinois. Singh’s work as an EIR will concentrate on business and financing strategy. Dr. H. Magnus Andersson is an advisor, coach, and mentor to multiple co-founders and management teams in the technology entrepreneurship ecosystem in and around EnterpriseWorks and Research Park. Dr. Andersson was a co-founder of EnterpriseWorks startup graduate Autonomic Materials (AMI), is the co-founder and CEO of a Stealth Mode Professional Development, and serves as an advisor for Iridescent Sensors and FrostDefense Envirotech. He received his master’s in business administration from the University of Illinois in 2013. Andersson’s work as an EIR will specialize in ops and execution planning. Singh and Andersson are now available to meet with technology entrepreneurs and startup ventures. The Entrepreneur-in-Residence (EIR) Program allows Research Park clients, University of Illinois faculty, staff, or students, and community technology entrepreneurs to seek help from experienced and successful individuals over a variety of topics including business consulting, strategy assistance, marketing and communication help, and investor preparedness. This program also hosts a series of events featuring the Entrepreneurs-in-Residence. To request time with Singh or Andersson, or to learn more about the EIR program, visit the EIR portal.

Geeta Singh and Magnus Andersson join EnterpriseWorks Entrepreneur-in-Residence Team Read Post »

Community EnterpriseWorks Features Graduates Media Mentions News

Cast21 Founder Ashley Moy Featured by New York Stock Exchange

EnterpriseWorks startup graduate Cast21 was recently featured in a video by the New York Stock Exchange (NYSE). Host Judy Khan Shaw sat down with co-founder and CEO Ashley Moy on NYSE’s Floor Talk. Moy shared what inspired her to start Cast21 and discussed the technology behind Cast21’s innovative products. Cast21 is introducing a medical cast for treating broken bones to increase patient comfort and decrease medical complications. This product is completely waterproof, giving patients the freedom to shower, and its open design enables doctors to see the break site and dress accompanying wounds. Taking advantage of the company’s patent-pending technology, physicians can benefit from the adaptable-fit device they can grab off the shelf. University of Illinois alumna Ashley Moy co-founded Cast21 in 2016 to change the utilization of technology in healthcare biologics. Watch the full video on LinkedIn.

Cast21 Founder Ashley Moy Featured by New York Stock Exchange Read Post »

EnterpriseWorks Investments News Research Park

HabiTerre makes $10m first close on its Series A, aims to become ‘the global standard’ for sustainability metrics

EnterpriseWorks startup HabiTerre completed an initial close of $10 million on its Series A funding round. Investments were led by investor John Deere, a major partner of the Research Park, conveying the potential impact the technology could have at scale. HabiTerre is the only company with the rights to commercialize technology developed by founder Kaiyu Guan. Guan, the company’s founder, is a professor in the Department of Natural Resources and Environmental Sciences at the University of Illinois Urbana-Champaign. The new investment will largely go towards scaling HabiTerre’s technology offering “to make it even more efficient for quality assurance and quality control” for more companies across the ag value chain. “We’ve executed a number of pilots and are working with a number of different commercial customers,” said HabiTerre CEO Nick Reinke. “We’re really getting clear on what the market needs from technology like ours.” HabiTerre is currently aiming to do another $3 million to $4 million as part of its Series A round and is actively looking for investors. HabiTerre is a deep science and technology company offering a holistic approach to farm productivity and resource use efficiency. It monitors, measures, and analyzes environmental impacts with the utmost scientific rigor to provide actionable insights for optimal management of land, nutrient, and water use. Learn more about HabiTerre’s investment milestones on LinkedIn or AgFunder News.

HabiTerre makes $10m first close on its Series A, aims to become ‘the global standard’ for sustainability metrics Read Post »

EnterpriseWorks Investments News Research Park

EnterpriseWorks startup Natrion lands $1.5 million in Air Force Contracts

EnterpriseWorks startup Natrion recently secured contracts from the United States Airforce to bring its high-performance battery materials to the Department of Defense. The company was selected for two Small Business Innovation Research (SBIR) contracts from the US Air Force, a Phase I from Air Force Global Strike Command (AFGSC), and a Phase II from AFWERX, the Air Force’s innovation arm. This funding will enable Natrion’s technology to continue gaining traction in the industry and build on the company’s longstanding collaboration with the Department of Defense (DoD). Natrion is developing new batteries and battery components that eliminate fire risk while diminishing material costs. Natrion’s Lithium Solid Ionic Conductor (LISIC) combines a proprietary high-performance ceramic made from a clay mineral that is already used in cosmetics and paper with a type of plastic that’s typically found in building fire insulation. Learn more about Natrion’s accomplishment on TechNexus.EnterpriseWorks startup Natrion recently secured contracts from the United States Airforce to bring its high-performance battery materials to the Department of Defense. The company was selected for two Small Business Innovation Research (SBIR) contracts from the US Air Force, a Phase I from Air Force Global Strike Command (AFGSC), and a Phase II from AFWERX, the Air Force’s innovation arm. This funding will enable Natrion’s technology to continue gaining traction in the industry and build on the company’s longstanding collaboration with the Department of Defense (DoD). Natrion is developing new batteries and battery components that eliminate fire risk while diminishing material costs. Natrion’s Lithium Solid Ionic Conductor (LISIC) combines a proprietary high-performance ceramic made from a clay mineral that is already used in cosmetics and paper with a type of plastic that’s typically found in building fire insulation. Learn more about Natrion’s accomplishment on TechNexus.

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EnterpriseWorks Features Research Park

Cache Energy Featured in TechCrunch for Innovative Energy Storage Solution

TechCrunch is the latest major publication to highlight EnterpriseWorks startup Cache Energy and its novel, inexpensive energy storage solution.  “Rather than store power as heat using sand or specially made bricks, Cache is storing it in chemical bonds inside pellets made of lime derived from limestone,” writes TechCrunch reporter Tim De Chant.  In the interview, Founder and CEO Arpit Dwivedi discussed the company’s development of the lime-based pellets that store energy chemically. This low-cost, sustainable method provides an alternative to traditional batteries by using pellets to produce heat, which can be released on demand. Dwivedi emphasized the solution’s practicality, telling TechCrunch, “It’s a low-cost solid that is able to produce heat and can use some of the similar infrastructure built around fossil fuel.” Read more about Cache Energy’s energy storage solution on TechCrunch.

Cache Energy Featured in TechCrunch for Innovative Energy Storage Solution Read Post »

Community EnterpriseWorks Features Investments News Partnerships & Acquisitions

Eleuthra Photonics provides expertise to MarginDx project

EnterpriseWorks startup Eleuthra Photonics will provide industry and translation expertise for the Margin Diagnostics (MarginDx) project. Funded through the ARPA-H Precision Surgical Interventions (PSI) program, MarginDx combines optical imaging technologies with AI screening tools to ensure, in real-time, that tumor tissue and cells are completely removed during surgery. A large team of researchers and clinicians from the University of Illinois Urbana-Champaign, Mayo Clinic, Eleuthra Photonics, and other industry and clinical collaborators are working to find an end-to-end solution that will drastically improve surgical outcomes for cancer tumor removal. Eleuthra Photonics was founded in 2023 and was admitted to the I-Start program at EnterpriseWorks. Eleuthra Photonics specializes in developing and producing rapid image-based diagnostic tools for analyzing tissue and cell samples, with a primary focus on cancer and other disease diagnoses. Learn more on the University of Illinois Interdisciplinary Health Sciences Institute website.

Eleuthra Photonics provides expertise to MarginDx project Read Post »

EnterpriseWorks Graduates News Recognition & Awards

Startup Graduate Ascent Integrated Tech recognized as a finalist in the 2024 Momentum Awards 

EnterpriseWorks startup graduate Ascent Integrated Tech is a finalist in the Industry Disruptor category of 1871‘s 2024 Momentum Awards. This Industry Disrupter Award is presented to a tech company that has developed or introduced an ingenious, non-traditional, and innovative product or service that has significantly disrupted its industry. After being nominated, companies must go through rounds of judging and voting before winners are nominated at the award show on September 19, 2024. Ascent Integrated Tech was founded at Research Park by Paul Couston and Alex Gorsuch, where they created a software program for first responders, including firefighters, special forces, and SWAT teams. The platform optimizes 3D tracking technology, placed inside helmets and bracelets, to provide commanders with critical information, such as their team’s location. These tracking sensors provide details about the team members’ health and environment, such as CO2 levels, humidity, and airborne metal oxide. For the last 17 years, The Momentum Awards have been the largest tech awards celebration in Chicago, recognizing the amazing companies that are building their businesses in Illinois, providing unique and unparalleled opportunities to meet founders, investors and leaders across the industry, and fundraising to help continue to support 1871’s mission of inspiring, equipping and supporting those in the community. Learn more and vote now on the 1871 website.

Startup Graduate Ascent Integrated Tech recognized as a finalist in the 2024 Momentum Awards  Read Post »

Community Events News Research Park

Research Park Softball League: Caterpillar wins championship in dramatic finish

The Research Park Softball League concluded with a memorable championship game on Monday, July 29. After a season of spirited competition and camaraderie among the 149 participants, the Champaign Caterpillar Innovation Center team emerged victorious in the tournament-style bracket, featuring six teams. This year’s final match was nothing short of spectacular. In a remarkable display of perseverance, the Caterpillar team was down 9-2 in the second inning. However, they staged a comeback, ending with a walk-off three-run homer from Alex Brockcamp. Brockcamp’s game-winning hit secured their victory and provided them with a full-season winning streak, having not lost a single game throughout the season. The final score reflected their hard-fought effort and earned them the championship title, making this win especially notable just before their 25th-anniversary celebration. The league’s growth and success in fostering a strong sense of community among participants from various companies were evident throughout the season. All teams’ dedication and hard work were commendable; each team displayed exceptional skill, sportsmanship, and determination, making every game an exciting contest. “The Research Park softball league is an excellent opportunity to build camaraderie between full-time and student employees alike,” said John Deere Technology Innovation Center‘s James Kabbes, the 2024 softball league commissioner. “I love seeing employees learn the rules for the first time, practice with their teammates, and compete in friendly games against other companies in the park.” Special thank you to all the companies who participated in the Softball League:

Research Park Softball League: Caterpillar wins championship in dramatic finish Read Post »

Community Events Internships News Recognition & Awards

Research Park Honors Innovative Interns at 18th Annual Intern Awards Ceremony

The 18th Annual Research Park Intern Awards Ceremony, which celebrates the contributions of exceptional student interns at Research Park corporate innovation centers and startups, took place on July 25, aptly coinciding with National Intern Day. The awards ceremony brings together interns representing diverse skill sets and industry sectors, as well as their managers and colleagues. It reflects the overall depth and breadth of excellence of intern work that occurs daily at Research Park. Awards were given in the following categories: Best Startup Intern Best Technical Innovation Best Business Innovation Most Outstanding Undergraduate Student Intern Most Outstanding Graduate Student Intern Most Competent and Collaborative Team Among the notable projects showcased was an intern who developed a prototype web software for Life Cycle Assessment calculations without prior experience in software development, improving company processes by approximately 90%. Another standout project involved a group of interns who developed an interactive, immersive boating simulator using a blend of computer graphic software development, UI/UX design, data integration, and hardware development. Shivani Birwadkar, who won the Best Technical Innovation award, expressed her gratitude for the recognition and reflected on how the opportunity to work on cutting-edge projects has significantly impacted her professional growth. “I am deeply honored to have been recognized with the Best Technical Innovation. My internship at ADM has been an incredible journey of learning and growth. From the groundbreaking projects that push the boundaries of innovation to the supportive and inspiring team that constantly motivates each other, this experience has truly been one of the most rewarding of my career,” said Birwadkar, a Work Process Automation Intern at ADM Science and Technology Center. The ceremony and nominations highlighted the incredible talent within the Research Park community and underscored the vital role that internships play in fostering the next generation of industry leaders. “Winning an award is a testament to the exceptional skills and dedication of our interns,” said Laura Bleill, director of external engagement at the Research Park. “It’s not just about individual accomplishments but also about how these young professionals are shaping the future through their innovative projects and collaborative spirit.” Just being nominated for these awards is an accomplishment, said Bryan Goode, the Research Park talent manager. The judging process is intense. “Managers nominate individual interns or entire teams, and each nomination comes with a detailed essay highlighting their skills and achievements,” Goode said. “These essays are then reviewed by a diverse panel of judges who bring different expertise to the table. They look at everything from technical skills to soft skills to ensure each nomination receives a fair and thorough evaluation.” Best Startup Intern  Zoey Zhang | Boston Bioprocess | Bioprocess Development Intern | Masters in Bioprocessing and Bioenergy | Illinois Professional Science Master’s “She has been an integral part of our pilot plant team, leveraging her graduateeducation and prior experience to execute fermentation projects. She quickly adapted to our fast-paced culture, showing immense grit and dedication. Zoey demonstrated exceptional leadership by volunteering for late hours and weekends to meet deadlines. Her proactive approach allowed us to delegate tasks such as sampling, reactor setup, and data analysis, significantly boosting our team’s efficiency. Zoey optimized shake flask volumes and benchmarked fermenters’ oxygen transfer rates, providing valuable insights. Her proactive approach to personal and professional growth, combined with her dedication, resilience, and willingness to go above and beyond, makes her highly deserving of this award.” Finalists: Thanushree Ambati | Helixon | Bio-Tech Research Intern | Master in Cell and Developmental Biology | College of Liberal Arts & Sciences Luigi Passerotti | Hinetics | Mechanical Engineering Intern | Mechanical Engineering | Grainger College of Engineering Best Technical Innovation Shivani Birwadkar | ADM Science and Technology Center | Work Process Automation Intern | Masters in Information Management | School of Information Sciences “Shivani is an exceptional intern who demonstrated remarkable innovation by independently developing a web application for Life Cycle Assessment calculations using Python and JavaScript from scratch. Despite having no prior experience, her work improved process efficiency and reduced project execution time by approximately 90 percent, significantly streamlining operations. Shivani’s proactive approach and strong relationship-building earned the team’s trust, adding considerable value and enabling more simultaneous projects without compromising quality.” Finalists: Shubham More — Synchrony Emerging Technology Center — Emerging Technology Center Intern | Computer Science and Physics | Grainger College of Engineering Caleb Larson | AGCO Acceleration Center | Engineering Intern | Electrical & Computer Engineering | Grainger College of Engineering Best Business Innovation Yijin Wang | Synchrony Emerging Technology Center | Emerging Technology Center Intern | Master’s Concentration in Analytics-Statistics | College of Liberal Arts & Sciences “Yijin truly exemplifies what it means to be a team player, shifting her focus based on the team’s needs and leveraging her technical, analytical acumen across multiple projects. She developed a measurement framework for assessing the incremental dollar impact of our paid media acquisition campaigns and supported clients with campaign reporting using Adobe and SAS. Tracy also led reporting for personalization stakeholders, quickly learning tools like Dynamic Yield. Despite resource constraints, Yijin ensured our team met all deliverables. Her framework addressed enterprise-level gaps in measuring campaign efficacy, advancing our enterprise initiative.” Finalists: Khushboo Choudhary | Synchrony Emerging Technology Center | Emerging Technology Center Intern | Master’s in Predictive Analytics & Risk Management | College of Liberal Arts & Sciences Gabrielle Wilki | State Farm | RDC Intern | Computer Engineering | Grainger College of Engineering Most Outstanding Undergraduate Student Intern Mayank Dubey | Rivian | Electrical Hardware Development Intern | Mechanical Engineering | Grainger College of Engineering “Mayank’s summer project at Rivian was a masterstroke in accelerating mechanical design and development. He developed an innovative framework to automate PCB design exploration, previously a manual task, using self-learning Python scripts—this breakthrough streamlined the process, catalyzing rapid innovation. His scripts empower engineers to perform complex finite element analysis (FEA) models, significantly boosting efficiency and minimizing errors. Despite lacking direct automotive experience, Mayank quickly absorbed new information and applied it effectively, consistently delivering noteworthy results with minimal guidance. His resilience, adaptability, and commitment to advancing despite challenges underscore his exceptional work ethic and dedication.” Finalists:

Research Park Honors Innovative Interns at 18th Annual Intern Awards Ceremony Read Post »