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As a part of 1871’s 25,000-square foot expansion in the Merchandise Mart this fall, the Chicago tech hub will open a veteran-focused technology incubator called The Bunker. The incubator, which will be veteran-operated, is the first of its kind in the country.
The Bunker is supported by Illinois Governor Pat Quinn, City of Chicago Mayor Rahm Emanuel and the Pat Tillman Foundation, which supports veteran education. The $2.5 million investment from the State of Illinois for the 25,000-square foot expansion will also fuel this effort.
Todd Connor, an Operation Iraqi Freedom Navy veteran and entrepreneur who ran Chicago’s military high schools program, will serve as The Bunker’s CEO; a big part of his job will be to connect The Bunker’s entrepreneurs with city and state resources for veterans.
“Great startup businesses need great leaders who know how to get it done amidst uncertain and challenging circumstances,” Connor said in a press statement. “This is what veterans bring. This represents a truly different model for the veteran community that is not about defining the veteran population as a group that needs help but rather capitalizing on the talent pool of some of the highest performing veterans.”
Earlier this week, Chicago approved a veteran’s preference bid incentive program for all city contracts meaning that contracts between veteran-owned businesses and other small local businesses will be incentivized with a 5 percent discount.
"We as a nation and a city have a special obligation to provide opportunities for success to our veterans once they return home,” Emanuel said in the release. “Veterans are among the best, brightest and most talented individuals our country has to offer.”
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