Public and Private Investment now Exceeds $8M with MATTER on Track to Launch in Early 2015
CHICAGO (November 19, 2014) – MATTER has secured private-sector commitments of $4.4 million to support Chicago’s new entrepreneurship and innovation hub for next-generation health IT, medical device, diagnostics and biopharma companies. The $4.4 million in private investment complements the $2.5 million grant and $1.5 million loan provided by the State of Illinois, and means that MATTER will launch with an initial capital commitment of more than $8 million.
MATTER’s initial strategic partners include many of the biggest names in the region’s healthcare ecosystem, including industry leaders, technology and health providers and professional organizations. MATTER will help connect partners with innovators and entrepreneurs, unite Chicago’s dispersed health technology community and accelerate the formation and growth of new businesses that can revolutionize healthcare. MATTER’s strategic partnerships will also give startups the rare opportunity to collaborate with and learn from industry leaders that can help them develop and launch their innovations.
MATTER’s initial strategic partners include:
- American Heart Association
- Astellas Pharma US, Inc.
- Crain’s Chicago Business
- EdgeOne Medical
- Ernst & Young LLP
- Horizon Pharma
- Insight Product Development
- Jones Day
- JPMorgan Chase
- OSF Healthcare/Jump Center
- Marathon Pharmaceuticals
- Marshall, Gerstein & Borun LLP
- Medline Industries, Inc.
- NorthShore University HealthSystem
- Sidley Austin, LLP
- Silicon Valley Bank
- State Farm
- Takeda Pharmaceuticals
- William Blair
“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, MATTER CEO. “Together with our strategic partners, MATTER is building a community that will accelerate the formation and growth of next-generation healthcare technology businesses.”
“Our relationship with MATTER is a strategic partnership for Astellas and an initiative we feel strongly will have a positive impact on Chicago’s healthcare economy,” said Jim Robinson, president of Astellas Pharma US, Inc. “By bringing together industry leaders, researchers and early-stage entrepreneurs, MATTER will act as a facilitator to drive collaboration that’s been difficult to effectively accomplish through other channels at scale.”
“Investing in and supporting innovation in healthcare is core to AbbVie’s mission,” said Jim Sullivan, Ph.D., vice president, pharmaceutical discovery, AbbVie. “MATTER will foster new ideas and provide valuable support to local entrepreneurs as they explore new frontiers in healthcare. We know that innovation requires a collaborative approach and AbbVie is proud to support the creation of this Chicago-based healthcare technology incubator.”
MATTER is scheduled to open in early 2015 and is currently accepting applications for membership. Interested entrepreneurs should visit www.matterchicago.com. Membership rates start at $150 per month and include access to MATTER’s mentor network, workshops and events designed to help entrepreneurs and innovators accelerate the growth of their companies. MATTER will also provide space to venture capital firms, research universities, healthcare providers and established companies.
MATTER is a not-for-profit organization developed by a team of entrepreneurs and industry leaders and supported by the state of Illinois. ChicagoNEXT, Mayor Rahm Emanuel’s council on technology and innovation, helped develop MATTER and is a key partner.
“These private sector partnerships will help MATTER to continue driving entrepreneurship in the rapidly expanding healthcare and biotechnology fields,” Governor Pat Quinn said. “We are proud to partner with MATTER to take our healthcare technology industry to the next level and keep Illinois as a national leader in life sciences and health innovation.”
“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 Mayor Rahm Emanuel. “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.”
MATTER is a community of healthcare entrepreneurs and industry leaders working together in a shared space to individually and collectively fuel the future of healthcare innovation. MATTER’s mission is to proactively connect and promote collaboration between entrepreneurs, scientists, physicians and industry partners in order to bring next-generation products and services to market that improve quality of care and save lives. For more information, visit www.matterchicago.com and follow @matterchicago.