In a significant move to boost scientific innovation and commercialization, Portal Innovations is partnering with the University of Chicago’s Polsky Center for Entrepreneurship and Innovation to create a new science startup incubator. The collaboration will see the launch of the UChicago Science Incubator at Hyde Park Labs, with an anticipated opening in the second quarter of 2025.
The incubator will occupy approximately 22,000 square feet within Hyde Park Labs, a state-of-the-art facility set to be completed in late 2024. This initiative aims to bridge the gap between academic research and commercial application, focusing on cutting-edge fields such as life sciences, quantum technology, artificial intelligence, and climate and energy tech.
John Flavin, Founder and CEO of Portal Innovations, expressed enthusiasm for the partnership, highlighting the importance of connecting academic researchers with private industry to accelerate innovation and retain local talent. The collaboration introduces Portal’s new “Powered by Portal” platform, which addresses the growing need for translating scientific ideas into commercial outcomes at research institutions.
The University of Chicago sees this partnership as a crucial step in advancing scientific research towards real-world impact. Juan de Pablo, Executive Vice President for Science, Innovation, National Laboratories, and Global Initiatives at UChicago, emphasized the significance of academia-industry collaboration in supporting researchers and scientists.
John Conrad, President and CEO of iBIO, praised the initiative, stating: “Congratulations to Portal Innovations, LLC and the University of Chicago on their partnership to launch a new science incubator at Hyde Park Labs. This collaboration will provide crucial support for translating groundbreaking research into commercial opportunities in life sciences, quantum technology, AI, and climate/energy tech. This initiative will further strengthen Chicago’s position as a hub for scientific innovation and entrepreneurship. We’re thrilled to see increased infrastructure and resources to nurture the next generation of life sciences startups right here in Illinois.”
The incubator will benefit from Portal’s expanding national network of ecosystems, providing access to infrastructure, capital, and talent. Researchers and entrepreneurs will have access to state-of-the-art facilities and the university’s world-class academic community, creating an ideal environment for groundbreaking discoveries and product development.
This initiative is part of a broader effort to establish a science and technology hub on Chicago’s South Side. The Hyde Park Labs facility, located near the University of Chicago’s main campus and medical center, will offer over 300,000 square feet of laboratory and office space, creating the necessary infrastructure to support this growing ecosystem.
Conrad added, “Kudos to John Flavin and Samir Mayekar, and all involved in making this vision a reality. The iBIO community looks forward to the advancements and economic growth this partnership will bring to our region’s biotech sector.”
As this partnership unfolds, it promises to catalyze scientific innovation, foster entrepreneurship, and contribute to the economic development of the region, marking an exciting new chapter in the translation of academic research into commercial success. The collaboration between Portal Innovations and the University of Chicago is set to play a pivotal role in cementing Chicago’s status as a leading hub for scientific innovation and entrepreneurship.
Read the press release
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This article was originally published on iBIO NewsBrief. Gain a head start on your day with iBIO NewsBrief. Subscribe to receive top industry headlines delivered straight to your inbox.