Three Reasons to Grow Your Hardtech Startup in Chicago at mHUB
By: Midwest Startups
Tags: Midwest Startups, Chicago, Tech, Startup, Venture Capital

Over the last decade, the number of startups in Chicago skyrocketed 270%, according to a study done by The Center for an Urban Future (a New York think tank that analyzed data from Crunchbase). With Chicago seeing some of the fastest startup growth in the nation, it’s no surprise that the largest independent hardtech innovation center is based in the Windy City.

Most innovation centers in the United States are funded by government-run institutions, university systems, or internal corporate innovation departments. Think AT&T Foundry, Argonne National Laboratory or Polsky Center. But the nonprofit mHUB is different. Convening interests and expertise across organizational boundaries, it’s the largest independent hardtech innovation center in the United States. What is hardtech, you ask?

Hardtech innovation is technology that has both a hardware and software component. This could be a smart medical device, a sensor application used in a manufacturing setting, or a consumer product for the connected home. mHUB was founded to ensure that the future of advanced manufacturing and product innovation has a place to flourish in America’s innovation ecosystem.

Coming out of a period consumed by software development, the current demands of economic development, the supply chain, climate change, and connectedness has refocused the nation on not just creating good ideas but making them right here in the United States. From concept to prototype to production, mHUB’s hyper-resourced environment creates the conditions for physical product innovation to thrive. This results in new business creation, revenue, investments, intellectual property, and jobs.

Chicago played a pivotal role during the first Industrial Revolution, and it will continue into the Fourth Industrial Revolution — which fuses physical product development with digital processes to impact all disciplines, economies and industries. Central to this revolution are emerging technology breakthroughs in fields such as the Internet of Things, autonomous vehicles, 3D printing, robotics and artificial intelligence. Here are three reasons why early-stage hardtech companies choose mHUB as the place to launch and grow their business.

1. Hyper-focused Resources Available for HardTech Startups

By providing the right resources, mentorship, and access to manufacturing industry insiders, mHUB helps early-stage innovators go from prototype to product to sustainable business, driving a greater likelihood of success. mHUB’s multiple membership options provide access to a state-of-the-art prototyping facility and micro-factory with over $6M in equipment. Whether a founder is just starting out on their entrepreneurial journey, an early-stage startup is growing their team, or an employer is looking for an innovative co-working environment, mHUB has a membership option for their unique needs.

2. HardTech Specific Funding for Startups

In addition to providing physical product development tooling and resources, mHUB founded an accelerator program built specifically for hardware and physical product startups. The 6-month accelerator fast-tracks high potential startups through hands-on product development in mHUB’s prototyping facilities and is supported by world-class corporate partners and venture investors. And because mHUB is positioned in Chicago, a city rich with manufacturing history, the region echoes mHUB’s friendly environment to build and grow a hardtech company.

3. Joining Both a HardTech Specific Startup Community & Broader Innovation Ecosystem

Having built a diverse and dynamic community of engineers, developers, innovators, and entrepreneurs, mHUB has created an ecosystem and supplier network to support existing small- and medium-sized manufacturers. mHUB Hardtech Development services matches businesses with engineering and business talent for contract R&D services. The diversity of knowledge within the mHUB community, made up of more than 650 members and alumni, is of huge value to internal innovation teams.

Through its Hardtech Development services (which recently reported providing over $2M of income to mHUB members) and the Accelerated Incubation program, mHUB brings institutional and corporate partners into the fold, to engage with the member community and vice-versa. Moreover, mHUB has leveraged several federal grants to support startups and bolster job creation and economic development, resulting in valuable community engagement and partnerships.