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The new Chicago healthtech incubator MATTER, built to spur innovation in diagnostics, healthcare IT, biopharma, and more, has just garnered a $4.4 million private investment round. It will add that to a fund that includes a $2.5 million grant and a $1.5 million loan from the state of Illinois. And it isn't even open yet.
MATTER plans to commence operations early next year in the Merchandise Mart and is currently accepting applications through its website. In the meantime, it has established strategic partnerships with more than two dozen huge names in health, business, and finance, including CDW, Ernst & Young LLP, the American Heart Association, Silicon Valley Bank, and AbbVie.
"MATTER's partners will accelerate their access to new healthcare technologies and expand their presence among the region's innovators and entrepreneurs," said Steven Collens, CEO of MATTER, in a statement. "Together with our strategic partners, MATTER is building a community that will accelerate the formation and growth of next-generation healthcare technology businesses."
ChicagoNEXT, Mayor Rahm Emanuel's council on technology and innovation, spurred development of the not-for-profit MATTER and remains an important partner and influence. “MATTER is already helping to drive Chicago’s healthcare economy forward by bringing together corporate partners from across the healthcare industry to drive innovation and create jobs in Chicago,” said the mayor in a statement. “This investment by the private sector means that new companies will have the opportunity to grow and provide an economic engine for our city into the future.”
