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Grant Expected For Chi Med-Tech Start-up

Tue, 28 Jan 2014 17:00:54 CST
By: AP

The state of Illinois will provide a $2.5 million grant to help open a center for medical technology startups in downtown Chicago. Gov. Pat Quinn is expected to announce the project during his State of the State address tomorrow. Dave Roeder is a spokesman for the Illinois Department of Commerce and Economic Opportunity. He says the center will be a place for entrepreneurs and prospective investors in medical technology to seed new companies. It's expected to open later this year. Roeder says the center will be modeled after 1871, a Chicago hub for digital startups that officials say created 800 jobs its first year. The project also will receive a $1 million loan from either DCEO or the Illinois Finance Authority. You can hear Gov Quinn's address at Noon tomorrow on GLT.

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