Two CI Companies Receive Investment from UChicago Innovation Fund

Originally published by the Chicago Innovation Exchange

The University of Chicago’s Innovation Fund announced plans to invest more than half a million dollars in three ventures working to improve healthcare and agriculture through innovation. With these latest investments, the Innovation Fund will have infused more than $3.6 million in 38 ventures with high potential for societal and commercial impact.

Five finalists presented their ideas to the Innovation Fund advisory committee on December 4, and for the first time, the public was invited to attend. More than 100 people gathered at theChicago Innovation Exchange to learn about the new technology being developed by world-renowned researchers at the University of Chicago and affiliated laboratories.

“The Innovation Fund, in combination with a multitude of other resources available at the University of Chicago, is designed to help support entrepreneurs in taking their next step and exploring the path to commercialization,” said John Flavin, executive director of the Chicago Innovation Exchange. “This cycle, the committee has again chosen to invest in three projects whose technology and team have the potential to transform inventive ideas into products and services that reach the marketplace.”

The Innovation Fund is managed by the Chicago Innovation Exchange, in partnership with UChicagoTech and the Polsky Center for Entrepreneurship and Innovation. Twice a year, the Fund extends a call for proposals from UChicago, Argonne National Laboratory, Fermi National Accelerator Laboratory and Marine Biological Laboratory teams considering commercializing their technology and ideas. 

This cycle, the Innovation Fund selected three teams to receive investment.  Among the three teams chosen, one of them is comprised of RDCEP members Joshua Elliott, Ian Foster, and David Kelly:

Praedictus Climate Solutions has developed new software tools that provides more accurate and timely projections of crop yields than current approaches. The Innovation Fund awarded the team $125,000 to validate their system with additional crops and in new geographies. Compliments to the Computation Institute’s Joshua Elliott (RDCEP), Ian Foster (RDCEP), and David Kelly (RDCEP), along with colleague Robert Okabe.

If you are interested in learning more about the Innovation Fund or receiving notifications when the next cycle opens, please sign up here.