A Community of Statups
A new startup accelerator near Northwestern Uni- versity’s Evanston campus will propel innovative technologies from the lab to the marketplace and showcase the impact of research and technology to the broader Northwestern community.
Fueled by a $50 million appropriation by the Illinois General Assembly intended to foster economic development, a $25 million gift from Northwestern Innovation and Entrepreneurship Committee chair Kimberly Querrey, and a $3 million grant from the U.S. Department of Com- merce, the accelerator – named KQ to honor Querrey’s prominent involvement – will host a rich pipeline of startups addressing some of society’s most pressing life sciences challenges in human health, materials, medical diagnostics, battery technology, and more.
Starting with three floors at 1801 Maple, a close- to-campus home intended to ensure the em- powered involvement of faculty and students, KQ’s first phase will host up to a dozen startups. Through this initial phase, INVO will assess operational, programming, and project costs to inform future expansion to the three additional floors and reach full capacity that reflects the diversity of ideas and innovation at Northwestern.
The new INVO technology accelerator not only provides valuable innovation space for startup companies like Volexion, but also ensures we can efficiently leverage the latest innovations, expertise, and facilities on campus, which is critical to expediting and maximizing successful commercialization outcomes.”
— Mark Hersam, the Walter P. Murphy Professor of Materials Science and Engineering, McCormick School of Engineering
Six companies have already been tabbed for immediate KQ residence, including Volexion and Rhaeos, entities ignited by research from the labs of Northwestern faculty members Mark Hersam and John Rogers, respectively.
When complete, KQ will eventually provide its startups ready-to-go wet and dry lab space packed with equipment and tools as well as shared foundries. Providing a modern, science-ready home removes one of the principal hurdles fledgling companies face, thereby jumpstarting their growth and demonstrating to faculty as well as students the possibilities once innovation leaves the lab.
Even more important than the physical space, however, the KQ accelerator will build a community of startups and promote a robust intellectual environment that accelerates product validation and optimization. Through coaching, networking, training programs, and new business approaches, startups will learn and evolve while pursuing external funding and commercialization.
“The new INVO technology accelerator not only provides valuable innovation space for startup companies like Volexion, but also ensures we can efficiently leverage the latest innovations, expertise, and facilities on campus, which is critical to expediting and maximizing successful commercialization outcomes.” Mark Hersam, the Walter P. Murphy Professor of Materials Science and Engineering, McCormick School of Engineering