Welcome to our 47th edition

⏪ Highlights from Last Week:

Last week, we hosted our 5th AI Tinkerers gathering at the Drive Chicago office. This community has gone from 0 to 300+ members in less than 4 months👇🏽

I visited the University of Buffalo to learn about EmpireAI, which is a new $400M AI computing center housed at the University (soon to be the largest supercomputer in the Great Lakes)👇🏽

And I ended my visit to Buffalo hosting a fireside chat at 43North, which is Buffalo's leading seed-stage accelerator👇🏽

📍 This Week’s Lineup:

💥 Chicago's Quantum Proposal

🌱 Windy City Seed Funding

📊 Chart of the Week

🗺 8 Events Around the City

🔙 Previous Editions of the Driver’s Seat

🤚🏽 Before We Dive In:

I want to plug a Chicago-based newsletter that I’ve been enjoying!

Startup Archive is a daily publication that curates the top 1% of advice from the world’s best founders.

Subscribe to Startup Archive below or click here and tell them Landon sent you!

💥 Chicago's Quantum Proposal

Pritzker's Pitch

• Governor J.B. Pritzker is requesting $500m from Illinois legislators to invest in quantum technology that’s aiming to position Illinois as a leader in the field.

• About $300m of the proposed funding is allocated for a new campus, which includes a cryogenics facility needed to keep quantum computing systems cool.

• Our state's early investments in quantum have attracted federal grants and interest companies like Google and IBM.

The Economic Blueprint

• The quantum funding request is part of a larger $700m ask from the General Assembly, which includes support for enterprise funds and training programs.

• Illinois aims to leverage its quantum investments to bid for an $11B national research center focused on semiconductor technology under the federal Chips & Science Act.

• Our state's quantum initiative involves collaboration with leading universities and research institutions.

🌱 Windy City Seed Funding

Like many non-coastal hubs, Chicago still has a ways to go until we have a thriving pre-seed ecosystem.

Even with the opportunity for growth, Chicago has still seen an increase of seed activity over the past 3 years, which makes me optimistic. For example, at Drive we’re investing as early as ‘idea on napkin’.

Some might see the chart below and wonder why Chicago isn’t higher on the list of the top 15 US metros for pre-seed funding.

But I’d like to call out two things:

• Seed funding in Chicago is on the rise ($62m in 2021 to $95m in 2023)

• Chicago was one of only four major metros on this list that experienced a positive % change in funding from 2022 to 2023. 👇🏽

If you’re interested in learning more about venture firms in Chicago, check out this website I made: www.bullishonchicago.com

📊 Chart of the Week

Over the past decade, the cost of living in Texas cities has surged. And Chicago outshines major metros like Dallas-Fort Worth and Austin when it comes to housing affordability.

🗺️ 8 Events Around The City

Chicago Data Community Happy Hour

• Hosted by CDC

• Monday

• RSVP

The Compute Collective

• Hosted by Jump Capital

• Tuesday

• RSVP

AI + IQ

• Hosted by Chicago Innovation

• Tuesday

• RSVP

South Side Innovates

• Hosted by Chi Tech CLLCT

• Tuesday

• RSVP

Founder Secrets: Chicago Kick-Series 2024

• Hosted by WeFunder

• Wednesday

• RSVP

Women in Bio-Chicago: The Brilliance of Diversity

• Hosted by Women in Bio-Chicago

• Wednesday

• RSVP

Inside the Loop Bi-weekly Coffee

• ITL

• Thursday

• RSVP

Thoughtluck Dinner

• CHAT Collective

• Thursday

• RSVP

👋 See you next week!

Follow me on Twitter and Instagram for even more Chicago startup news and photos of my favorite restaurants in the city.

🗞 Previous Editions of the Driver’s Seat

#46 - Venture Growth in the Heartland

#45 - Inside Chicago Data Centers

#44 - Chicago’s Founder Diversity

#43 - Chicago’s 24 Unicorns