University of Chicago entrepreneurship

The University of Chicago is an institution rich in resources for startups and venture capital (VC) interests. Its Polsky Center for Entrepreneurship and Innovation serves as the dedicated resource to meet the needs of the University's various startup initiatives. The center offers a multitude of programs and events that support budding entrepreneurs, startups, and established businesses, thereby enhancing the startup and VC ecosystem of the University.

Among its successful initiatives, the Polsky Center runs the New Venture Challenge (NVC), deemed as one of the top-ranked accelerator programs in the U.S. Since its inception in 1996, the NVC has helped launch more than 330 companies, including successful exit examples like Grubhub and Braintree, both of which have seen valuations over a billion dollars. Grubhub, an online and mobile food-ordering and delivery marketplace, was co-founded by Matt Maloney, a University of Chicago Booth School of Business alumnus. Braintree, a company that specializes in mobile and web payment systems for e-commerce companies, was founded by Bryan Johnson, also a Booth School alum.

Additionally, the University of Chicago also boasts a thriving VC ecosystem. Through the UChicago Venture Capital Investment Competition (VCIC), students get real-world experience as venture capitalists, where they have to evaluate startups and negotiate with entrepreneurs. Alumni from the University have gone on to form and lead high-impact VC firms. For instance, Bryan Johnson, apart from founding Braintree, also founded OS Fund, a venture capital firm investing in startups focused on artificial intelligence, synthetic biology, genomics, and other frontier technologies.

The Chicago Innovation Exchange (CIE), a part of the Polsky Center, provides a space for students and local entrepreneurs to meet, share ideas, and develop new startups. CIE offers various resources including community membership, access to mentors, and funding opportunities. Student-led startups like ExplORer Surgical, a digital case management platform specifically designed for surgical teams, have benefitted from resources provided by CIE.

Beyond these, the University of Chicago also offers various courses in entrepreneurship and innovation, fostering a culture of entrepreneurship throughout the University. These programs enhance the startup and VC ecosystem by preparing students with the necessary skills and knowledge to launch and scale their ventures successfully.