Illinois
State Resources
Known as “the Land of Lincoln,” Illinois is endowed with a rich abundance of both water and farmland. As a result, it is one of the top five states for agriculture, while also being home to the third largest city in the U.S. – Chicago. The presence of the Department of Energy’s Argonne National Laboratory and the Fermi National Accelerator Laboratory , as well as prestigious institutions such as the University of Chicago and Northwestern University contribute significantly to the state’s economy. The Illinois Department of Commerce and Economic Opportunity (DCEO) responsibility “is to support and maintain a climate that enables a strong economy.”
Made in Illinois Grant Program
The Made in Illinois Grant Program supports innovation and strategic advancements in manufacturing by providing between $5,000 and $50,000 in matching grant funding to small- and mid-sized Illinois manufacturers. The program also offers access to expertise and resources. To be eligible, companies must be an Illinois manufacturer in operation for at least 3 years with between 5-250 employees. In addition, the company must have had sales revenues within the 12 months prior to applying for funding.
Illinois Clean Energy Innovation Fund (ICEIF)
Illinois Department of Commerce & Economic Opportunity (DCEO)
The Illinois Department of Commerce & Economic Opportunity (DCEO) offers matching grants up to $50,000 to companies that have received Phase I awards through the SBIR and STTR grant programs. The DCEO also maintains a list of active and upcoming grant opportunities here.
Illinois Growth and Innovation Fund (ILGIF)
The Illinois Growth and Innovation Fund (ILGIF) is an evergreen, $1.5 billion impact investment fund with the investment goal of attracting, assisting, and retaining quality technology-enabled Illinois businesses.
Illinois Innovation Venture Fund (INVENT)
The Illinois Innovation Venture Fund (INVENT) is a $114 million direct equity capital program funded through the U.S. Department of the Treasury’s State Small Business Credit Initiative (SSBCI). INVENT is administered by the DCEO and provides venture capital for both early and late-stage companies across a range of sectors, including agtech, energy, information technology, life sciences, advanced manufacturing, quantum information sciences and technology, microelectronics, transportation and logistics, and semiconductor technology advancement.
