💿 Chip Growth in Chicago

AND Tech Events Around the City

Author

Landon Campbell
August 26, 2024

73rd Edition

✍🏽 This Week on Landon in the Loop:

💿 Chip Growth in Chicago

📊 Chart of the Week

📆 Events Around the City

🔙 Previous Newsletter Editions

 🔙 Highlights from Last Week

Last Tuesday, we hosted our 11th AI Tinkerers Chicago meetup at Drive Capital, where we welcomed guest speaker Jonathan Ozeran from Tempus for a fireside chat.

Did you know that Tempus has access to over 200 petabytes of oncology and genomic data (1 petabyte = 1,000 terabytes). 👇🏽

We organized a B2B Coffee Meetup with our friends at Forum Ventures (Neal) and TSX (George) 👇🏽

I visited Innovation Works in Pittsburgh to speak to a community of robotics and automation founders about what we look for at Drive Capital.

During my trip, I learned that startups in Pittsburgh raised $3.12B in 2023, which was a 203% increase from 2022. Largely fueled by advancements in robotics, automation, and AI. 👇🏽

💿 Chip Growth in Chicago

Our state recently announced a $20m investment through the Venture Investment for Semiconductor Technology Advancement initiative (VISTA) to boost our semiconductor sector.

This is a carve out from the DCEO’s INVENT, which is a $114m direct equity program funded through the US Department of the Treasury SSBCI.

Let’s learn why this investment in Chicago semis is significant, but first here’s some history:

History of Semiconductors in Illinois

  • The father of the transistor brought his research to the University of Illinois, where he would become a professor.

  • Motorola was considered an early pioneer of semiconductor advancements in the 1950s.

  • Today, Illinois continues to be a leader in semiconductor innovation, with the establishment of the Illinois Quantum and Microelectronics Park and Chicago Quantum Exchange.

Focus Areas for the Investment

There are 5 focus areas for this capital:

  1. Advanced Computing and Software: Focusing on next-generation computing systems and software development that will drive innovation in various industries.

  2. Advanced Materials: Investing in cutting-edge materials that can enhance the performance of semiconductor technologies.

  3. Microelectronics: Supporting the development of electronic components.

  4. Quantum Science: Advancing quantum technologies.

  5. Semiconductor Manufacturing/Packaging: Enhancing capabilities in the manufacturing and packaging of semiconductors to increase reshoring.

The Big Takeaways

  • VISTA’s semiconductor investment combined with efforts from the Silicon Crossroads Microelectronics Commons Hub (SCMC) are increasing the US semiconductor talent pipeline in the Midwest.

  • The SCMC is a coalition between Indiana, Illinois, and Michigan, funded by the CHIPS and Science Act.

  • Long-term investments in quantum computing and microelectronics are positioning Illinois as a global tech hub.

📊 Chart of the Week

Beyond semiconductors, Illinois is also making strides in clean energy.

Last week, Northern Illinois nuclear plants delivered 10.7 gigawatts of 100% clean energy.

📆 Events Around the City

Chicago Climate Connect

  • Hosted by mHUB

  • Wednesday

  • RSVP

Chicago - Generalist World Meetup

  • Hosted by generalist.world

  • Wednesday

  • RSVP

Product and Strategy 103 - The HOW

  • Hosted by mHUB

  • Wednesday

  • RSVP

🗞 Previous Newsletter Editions:

👋 See you next week!

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