Illinois Institute of Technology

What Illinois Institute of Technology does

Illinois Institute of Technology (Illinois Tech) is a private, nonprofit, technology-focused research university headquartered in Chicago, Illinois. Founded in 1890, it serves undergraduate, graduate, and lifelong learners across more than 50 undergraduate majors and 100+ graduate degree programs spanning engineering, computer science, AI, data science, business, law, architecture, and the sciences. The institution generates revenue through tuition and fees, federally funded research grants (notably a $125 million five-year DOE renewal for the SQMS Center at Fermilab, a $6 million NSF TechForward award, and a $2 million NSF SPARC scholarship), and professional services such as the Institute for Food Safety and Health. Its go-to-market combines direct undergraduate and graduate admissions, virtual recruitment, and channel partnerships (notably Eruditus for India operations).

Illinois Tech's core technology base is built around specialized research institutes and centers spanning quantum computing (SQMS at Fermilab, 300+ experts, 43 partner institutions), lithium-air battery development (1,200 Wh/kg prototype with Argonne), grid cybersecurity (Midwest Center for Microgrid Cybersecurity), biomedical devices (wireless Intracortical Visual Prosthesis), drone-delivered networks, and Virtual Synchronous Machines standardized as IEEE 2988-2024. Proprietary assets include the Elevate guaranteed-experiential-learning program, partnerships with Fermilab, Argonne, General Electric, Siemens, Hitachi Energy, and Schneider Electric, and differentiated brand recognition (#1 in Illinois for graduate earnings, Top 100 U.S. per TIME, #30 Best Value School).

The institution is executing an aggressive international expansion strategy, becoming the first U.S. university authorized by India's University Grants Commission to grant degrees domestically. It will open Illinois Tech Mumbai in Fall 2026 through a joint venture with Eruditus (51/49), and has established a joint institute with Beijing Information Science & Technology University approved by China's Ministry of Education in May 2025. Indian graduate enrollment has grown 73%+ over five years, and the Mumbai campus will price tuition at approximately Rs 15-16 lakhs annually, well below U.S. study-abroad alternatives.

Name

Illinois Institute of Technology

Legal name

Illinois Institute of Technology

Website

https://iit.edu

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Illinois Institute of Technology is a private, nonprofit, technology-focused research university in Chicago offering 50+ undergraduate and 100+ graduate programs in STEM, computing, business, and law. It serves students, federal research sponsors, and industry partners, with new degree-granting campuses launching in Mumbai (Fall 2026) and Beijing (2025).

Ownership category

akta.pro rank

Product category

Higher Education Research University

NAICS

Colleges, Universities, and Professional Schools (6113), Colleges, Universities, and Professional Schools (611310), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Services-Educational Services (8200), Services-Commercial Physical & Biological Research (8731), Services-Engineering Services (8711)

akta.pro primary industry

Technology Transfer & Innovation-Driven Research Universities (High Commercialization) (EDAHABAH)

akta.pro secondary industries

Technical Universities with Computing, Data & AI Focus (EDAHAEAK), Engineering & Technology Institutes (Comprehensive) (EDAHAEAA), Applied Research & Innovation Universities (EDAHAEAE)

Keywords

• Higher education
• STEM research university
• Graduate programs
• Engineering education
• Technology degree programs

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Tuition and Fees: Revenue from undergraduate and graduate tuition, fees for academic programs across engineering, science, architecture, business, design, computer science, and law disciplines.
2. Research Grants and Funding: Federal and state research funding from agencies including Department of Energy ($125M SQMS Center renewal), National Science Foundation ($6M TechForward, $2M SPARC), supporting research initiatives and workforce development.
3. Pharmaceutical and Regulatory Services: Revenue from the Institute for Food Safety and Health providing testing, certification, and regulatory services to industry clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Illinois Institute of Technology is a private, nonprofit research university that delivers undergraduate, graduate, and doctoral degree programs across engineering, computer science, architecture, business, design, law, and applied sciences, supplemented by research services and testing through specialized institutes. Revenue is generated primarily from tuition and fees plus federal and state research grants. The university also operates the Chicago-Kent College of Law and the Institute for Food Safety and Health, and is expanding degree-granting campuses to Mumbai, India (Fall 2026) and a joint institute in Beijing, China.

Differentiator

Problem solved

Functional benefit

Products and services

• Undergraduate Programs 50-plus undergraduate majors and special degree programs in STEM-focused disciplines (engineering, computer science, data science, business, architecture, design) for high school graduates and transfer students, with guaranteed internship, research, and competition participation via the Elevate program.
• Graduate Programs 100-plus industry-aligned graduate degree programs including professional master's, Ph.D. research, and executive education tracks for career advancement and research careers.
• Lifelong Learner Programs Continuing education, certificate programs, and pre-college experiences for adult learners, professionals seeking career transitions, and young learners.
• Chicago-Kent College of Law Law degree programs based at the Conviser Law Center in downtown Chicago, producing graduates such as U.S. District Court Judge Robert J. White.
• Illinois Tech Mumbai Campus Degree-granting campus in Mumbai, India offering undergraduate and graduate programs in computer science, AI, data science, and business, with tuition set approximately 30-40% below full-time study abroad alternatives.
• Institute for Food Safety and Health Services Testing, certification, and regulatory services delivered to industry clients in food safety science and pharmaceutical/regulatory domains.

Quantifiable outcome

• #1 in Illinois for Highest Eight-Year Median Graduate Earnings - Carnegie Foundation/American Council on Education 2025
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability11 records

Feature6 records

Partnerships

Ten partnerships are on record, tiered flagship, minor and core.

• EruditusflagshipChannel Partner/ Reseller/ Distributor · 17 June 2026Singapore-headquartered edtech company Eruditus is Illinois Tech's market entry partner for India through joint venture structure where universities hold 51% stakes and Eruditus holds 49%. Universities handle academics while Eruditus manages operations. Eruditus valued at approximately $3 billion with FY24 sales exceeding ₹3,733 crore. Projected to contribute 50%+ of Eruditus revenue from India within five years.
• CATL (Contemporary Amperex Technology Co.)minorStrategic or Co-development Partner · 5 June 2026CATL announced at 2026 Powering The Nation forum that US researchers from Argonne National Laboratory and Illinois Institute of Technology developed lithium-air prototype achieving 1,200 Wh/kg. CATL's long-term strategy references this research collaboration.
• Rush University Medical CenterminorStrategic or Co-development Partner · 7 May 2026Research collaboration on wireless Intracortical Visual Prosthesis (ICVP) system for restoring artificial sight. Successfully implanted device in blind participants as part of ongoing clinical trial at Rush University Medical Center.
• Godrej & BoyceflagshipStrategic or Co-development Partner · 9 February 2026Illinois Tech signed memorandum of understanding with Godrej & Boyce for Mumbai campus collaboration at Godrej Business District. Led by alumnus Jamshyd N. Godrej (MAE '72), chairman of Godrej & Boyce. The location holds personal significance for the Godrej leadership.
• Fermi National Accelerator Laboratory (Fermilab)coreStrategic or Co-development Partner · 3 February 2026Illinois Tech is an original partner in the Superconducting Quantum Materials and Systems Center (SQMS) at Fermilab since its founding in 2020. The DOE renewed the center with $125 million funding over five years. Professor John F. Zasadzinski serves as principal investigator overseeing experiments to extend qubit coherence times for quantum computing applications.
• Tamil Nadu Government (TIDCO)flagshipStrategic or Co-development Partner · 29 January 2026MoU signed with Tamil Nadu government to establish a center of excellence in Chennai focusing on advanced manufacturing, clean energy, and health AI. Part of Tamil Nadu Knowledge City initiative in Tiruvallur district.
• Argonne National LaboratorycoreStrategic or Co-development Partner · 3 June 2025Collaborated on lithium-air battery research achieving 1,200 Wh/kg with 1,000 cycle lifespan at room temperature in 2025. Also partner in Midwest Center for Microgrid Cybersecurity (2MC) developing cybersecurity software protecting power grids.
• University of Illinois ChicagominorStrategic or Co-development Partner · 3 June 2025Research partner in the Midwest Center for Microgrid Cybersecurity (2MC) initiative funded by Department of Energy to develop cybersecurity software protecting power grids.
• Commonwealth Edison CompanyminorStrategic or Co-development Partner · 3 June 2025Industry partner in Midwest Center for Microgrid Cybersecurity (2MC) initiative. Will participate in testing cybersecurity software using Illinois Tech's existing campus microgrid simulation.
• Beijing Information Science & Technology UniversitycoreStrategic or Co-development Partner · 23 May 2025New joint institute with Beijing Information Science & Technology University in Beijing, approved by China's Ministry of Education on May 13, 2025. One of 23 new Sino-US partnerships, marking a significant collaboration despite US-China education decoupling trends.

Scale indicators14 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• Virginia Tech: Public research university with strong engineering, computer science, and quantum research portfolio. Comparable on research scale, federally-funded initiatives, and STEM graduate placement.
• Carnegie Mellon University: Elite private research university with the strongest comparable AI/cybersecurity/quantum research portfolio. Not a direct competitor on price or brand tier, but a benchmark for IIT's research ambitions and graduate outcomes positioning.
• Purdue University: Public STEM-focused land-grant research university with comparable engineering scale and outcomes-driven brand. Comparable on research funding profile and STEM graduate outcomes, though larger and lower-cost.
• Georgia Institute of Technology: Public STEM-focused research university with dominant computing and engineering programs. Comparable on research output and graduate outcomes, though larger scale and public funding model.
• Northeastern University: Larger private research university with the analogous co-op/experiential learning model. Broader portfolio across disciplines but overlaps directly in Elevate-style guaranteed experiential education and tech-focused positioning.

Regional players

• University of Illinois Chicago: Local Chicago-area public research university partner in the 2MC microgrid cybersecurity initiative. Overlaps on geography and certain research areas, but with broader academic portfolio and public funding base.

Direct peers

• Rensselaer Polytechnic Institute: Private technology-focused research university with strong computing, engineering, and applied sciences programs. Similar size, research funding profile, and STEM graduate focus.
• Stevens Institute of Technology: Private, technology-focused research university in Hoboken, NJ with comparable size, STEM emphasis, and applied research portfolio. Closely comparable in mission, student profile, and emphasis on industry-aligned outcomes.
• Worcester Polytechnic Institute: Private STEM-focused research university with similar scale and project-based experiential learning model. Comparable on tuition profile, research intensity, and outcomes-driven positioning.
• Case Western Reserve University: Private research university in Cleveland with comparable research intensity, STEM emphasis, and biomedical/engineering portfolio. Similar Carnegie classification and headcount scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/IITToday
• Facebookfacebook.com/241867505842718
• LinkedInlinkedin.com/company/illinois-institute-of-technology
• Instagraminstagram.com/illinoistech
• Xx.com/illinoistech

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Illinois Institute of Technology