The city of Chicago is hoping to take advantage of the spotlight of the annual BIO convention to build up its biotech cred a little. City officials later today are expected to announce plans to set up an incubator and research and collaboration hub in the downtown area.
According to a report in the Chicago Tribune, Chicago Innovation Mentors, a biotech collaboration of Northwestern, University of Chicago, University of Illinois, iBio propel and Argonne laboratories have all signed up to help with the launch. And about a dozen startups have reportedly expressed some initial interest.
BIO's return to Chicago demonstrates the city's keen interest in wooing drug developers to the area. But the city has never managed to rival big hubs like Boston and San Francisco, which host thriving biotech communities. Even secondary cities like Seattle have seen more new company creation. So perhaps it's best that Chicago is building from the foundation up.
- here's the story from the Tribune