What P33 does

P33 is a Chicago-based nonprofit innovation catalyst founded in 2019 by civic and business leaders including Penny Pritzker, Chris Gladwin, and Kelly Welsh. The organization exists to position Chicago and Illinois as a global technology and innovation hub, organized around three "Big Bets": Quantum Technology, Compute-Energy Nexus, and Growth for All. Its portfolio spans capital programs (TechRise grants, Speed Round coaching, the $50M Velocity hybrid fund, and the TechChicago CommonApp deal-flow platform), workforce initiatives (Tech Talent Alliance with 40+ member companies, Xchange Chicago's $20M South Side training and IT delivery center, Strong Start university partnerships), event and convening platforms (TechChicago Week, Climate Tech Week, TechChicago Capital Summit, co-powered with World Business Chicago), and policy infrastructure (Innovate Illinois, which has helped secure roughly $7B in federal funding and $10B in private investment, including NSF Regional Innovation Engine and EDA Tech Hubs designations).

P33's operational model combines direct program delivery, partner-mediated service (e.g., Xchange Chicago with Comer Science and Education Foundation and SDI Presence, training via Catalyte and City Colleges of Chicago), and event-driven ecosystem convening. Capital sources include federal grants (TechRise, Good Jobs Challenge), foundation and corporate co-funding (Comer Foundation, SDI Presence), and coalition-based convening where P33 acts as the fiduciary or program administrator rather than an equity investor. There is no commercial pricing model — programs are delivered at no cost to qualifying founders and ecosystem participants — and no proprietary software product.

The organization operates as a neutral, civic-positioned intermediary between four stakeholder groups: early-stage founders (especially underrepresented founders), Chicago-area residents seeking tech careers, established corporations seeking talent pipelines and emerging-technology partnerships, and government and academic institutions pursuing federal funding and commercialization pathways. The 19-person staff is supported by a board of 23+ drawn from major Chicago institutions, and the organization delivers programs across the Chicago metropolitan area with concentration in quantum, semiconductors, climate tech, and inclusive innovation.

Name

P33

Legal name

P33

Website

https://p33chicago.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

P33 is a Chicago-based nonprofit innovation catalyst founded in 2019 that convenes founders, corporations, universities, and government to position Chicago and Illinois as a global tech hub. It runs capital, workforce, convening, and policy programs across quantum, semiconductors, and inclusive innovation.

Ownership category

akta.pro rank

Product category

Innovation Ecosystem Development

NAICS

Computer Training (611420)

SIC

Services-Management Consulting Services (8742), Investment Advice (6282)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industries

Corporate Accelerators & Startup Programs (FSANAHAD), Early-Stage Venture Capital (Series A/B) (FSANAAAB), Corporate Foundations & CSR Grantmaking (BPAGAKAC), Advanced Project-Based Learning & Portfolio Mentoring (STEM/arts portfolios, maker projects) (EDANAKAI)

Keywords

• Innovation ecosystem development
• Technology hub catalyst
• Startup accelerator programs
• Workforce development initiatives
• Public-private partnerships

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Grant Funding: P33 receives federal and state grant funding to support its programs and initiatives. Examples include $3 million federal funding for TechRise Expansion Initiative, $3.4M Good Jobs Challenge Grant from U.S. Economic Development Administration, and participation in public-private partnerships securing federal quantum and semiconductor funding.
2. Corporate & Institutional Partnerships: P33 operates through partnerships with corporations, foundations, and institutions. Velocity is a $50M hyper regional hybrid fund. Xchange Chicago involves Comer Science and Education Foundation and SDI Presence. Tech Talent Alliance has 40+ member companies committed to building tech talent pathways.
3. Coalition Membership & Convening: P33 convenes stakeholders across government, academia, and private sectors. Tech Talent Alliance membership enables companies to participate in workforce development initiatives. Programs like TechChicago CommonApp provide centralized platforms connecting investors with founders.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

P33 is a nonprofit innovation catalyst organization that runs programs connecting Chicago-area technology founders with capital, corporations with talent pipelines, and government with industry. Its offerings span grant-based startup support (TechRise), accelerator coaching (Speed Round), a hybrid investment fund (Velocity), a centralized investor-founder platform (TechChicago CommonApp), a workforce training center (Xchange Chicago), an employer coalition (Tech Talent Alliance), and public-private policy partnerships (Innovate Illinois). Target beneficiaries are early-stage founders, Chicagoans seeking tech careers, established technology companies, and government/academic institutions collaborating on quantum, semiconductor, and clean energy initiatives.

Product overview

P33 operates as a technology and innovation hub organization rather than a single unified product. It manages a portfolio of interconnected programs, platforms, and initiatives designed to transform Chicago into a global technology hub. The core offerings include: TechRise (grant-based startup support), Speed Round (accelerator program), TechChicago CommonApp (centralized startup platform), Velocity (investment fund), Xchange Chicago (workforce training center), Tech Talent Alliance (employer coalition), Innovate Illinois (policy partnership), and TechChicago Week (annual event series). These programs collectively address capital access, talent development, ecosystem building, and community engagement across Chicago's tech ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• TechRise A startup support program bringing community, capital, and connections to early-stage tech founders in Chicago. Since 2021, P33 has deployed more than $3 million in grants, enabling founders to raise $160M+ in follow-on funding. Targeted at underrepresented founders historically excluded from venture capital.
• Speed Round Accelerator-style program that gives founders one-on-one coaching, fast feedback, tools, and frameworks to grow and scale their businesses. Speed Round startups have raised $34.6 million in funding. Targeted at Chicago-area technology founders.
• TechChicago CommonApp Centralized platform for startup programming applications, investor outreach, and deal flow. Connects nationwide investors with Chicagoland founders to deliver efficient access to resources and capital opportunities.
• Velocity A $50M hyper regional hybrid fund designed to expand access to capital at the riskiest layer of the capital stack, helping close the $300M+ early stage funding gap that disproportionately affects excluded founders and funders.
• Xchange Chicago Onshore IT delivery center built in partnership with Chicago's communities, leveraging an apprenticeship model to train local talent and revitalize South Side neighborhoods. A $20M tech workforce and training center projected to create 5,000 jobs at scale.
• Tech Talent Alliance A network of 40+ companies deeply committed to building more pathways into technology roles for all Chicagoans. Represents over 100,000 local employees and includes Fortune 100 companies to high-growth startups.
• Innovate Illinois A public-private partnership to secure federal funding for Illinois to support science, technology, and climate initiatives. Has mobilized more than 20 organizations and institutions and helped raise $7B in federal funding and $10B in private investment.
• TechChicago Week The region's premiere tech event connecting all of Chicago's innovators, featuring panels, afterparties, and world-class speakers throughout the year. Part of the TechChicago initiative powered by P33 and World Business Chicago.
• Chicago Climate Tech Week Event showcasing clean energy and sustainable innovations across Illinois. Drew 2,000+ attendees and serves as a cornerstone event of the Illinois tech community.
• TechChicago Capital Summit Capital-focused summit connecting investors with Chicagoland founders and emerging investment opportunities within the Illinois tech ecosystem.
• Strong Start A pilot program that brings leading tech companies into college computer science classes to give students hands-on experience with real-world projects. Has reached more than 900 students through 4 regional universities and 10 Chicago-based companies.
• National Quantum Algorithm Center (NQAC) Grand Challenges Program funding postdoctoral research developing industry-relevant quantum applications through three-way partnerships between academic institutions (UIUC, UChicago, Northwestern), quantum companies, and industry end-users. Part of the Illinois Quantum and Microelectronics Park.

Quantifiable outcome

• 53X return on TechRise investment through follow-on funding ($3M grants enabled $160M+ raised by founders)
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

21 partnerships are on record, tiered flagship and core.

• IQMP National Quantum Algorithm CenterflagshipStrategic or Co-development Partner · 24 April 2026Illinois Quantum and Microelectronics Park awards funding to five quantum algorithm research projects through its National Quantum Algorithm Center's Grand Challenges program. Each project involves three-way partnerships between academic institutions, quantum companies, and industry end-users.
• Northwestern UniversitycoreStrategic or Co-development Partner · 30 October 2025Academic partner in the National Quantum Algorithm Center's Grand Challenges program. Contributes to P33's quantum ecosystem along with University of Illinois Urbana-Champaign, University of Chicago, Argonne National Laboratory, and Fermilab.
• Discovery Partners InstitutecoreStrategic or Co-development Partner · 30 October 2025Co-funder of National Quantum Algorithm Center's Grand Challenges program. Discovery Partners Institute partners with P33 on building skills portals and supporting the Illinois tech ecosystem.
• Chicago Quantum ExchangecoreStrategic or Co-development Partner · 30 October 2025Chicago Quantum Exchange is a key partner in P33's quantum ecosystem. P33 partners with Chicago Quantum Exchange on funding opportunities, helping solidify Chicago's status as an EDA Tech Hub and national quantum leader.
• Ocient (Co-Founder Chris Gladwin)coreStrategic or Co-development Partner · 1 January 2025P33 Board Chair Chris Gladwin is Co-Founder & CEO of Ocient. P33 Board Vice-Chair Garry Cooper, Jr., PhD is CEO & Co-Founder of Rheaply. Board includes leaders from major companies across Chicago tech ecosystem.
• TechRise (P33 Program)coreStrategic or Co-development Partner · 1 January 2024TechRise is P33's flagship early-stage founder support program, bringing community, capital, and connections to underrepresented Chicago tech founders. Since 2021, P33 has deployed $3M in grants enabling founders to raise $160M+ in follow-on funding (53X return).
• Velocity FundcoreStrategic or Co-development Partner · 1 January 2024Velocity is a $50M hyper regional hybrid fund designed to expand access to capital at the riskiest layer of the capital stack, addressing the $300M+ early-stage funding gap that disproportionately affects excluded founders and funders.
• Xchange ChicagocoreStrategic or Co-development Partner · 1 January 2024P33 partnered with Comer Science and Education Foundation and SDI Presence to launch Xchange Chicago, a $20M onshore IT delivery center on Chicago's South Side in Grand Crossing neighborhood. Features 28,000-square-foot facility with training through Catalyte, City Colleges of Chicago, and others. Projected to create 5,000 jobs and $70M economic impact.
• Innovate IllinoisflagshipStrategic or Co-development Partner · 1 January 2024Public-private partnership to secure federal funding for Illinois science, technology, and climate initiatives. Mobilized 20+ organizations and institutions with 100+ contributing individuals. Secured $7B in federal funding and $10B in private investment.
• Tech Talent AlliancecoreStrategic or Co-development Partner · 1 January 2024Coalition of 40+ Fortune 100 companies to high-growth startups committed to building more pathways into technology roles for all Chicagoans. Represents 100,000+ local employees.
• Illinois Quantum and Microelectronics Park (IQMP)flagshipStrategic or Co-development Partner · 1 January 2024P33 plays a pivotal role in the 128-acre Illinois Quantum and Microelectronics Park, advancing the region's leadership in quantum technology and innovation. Home to National Quantum Algorithm Center and $1B+ quantum computing campus with PsiQuantum.
• National Quantum Algorithm Center (NQAC)flagshipStrategic or Co-development Partner · 1 January 2024State of Illinois partnership with IBM, University of Illinois Urbana-Champaign, and University of Chicago. National Quantum Algorithm Center Grand Challenges program funds postdoctoral research developing industry-relevant quantum applications.
• PsiQuantumflagshipStrategic or Co-development Partner · 1 January 2024PsiQuantum is proposing the country's first utility-scale quantum computer at the Illinois Quantum and Microelectronics Park. $1B+ campus expected to create 10,000 jobs and generate $20 billion in economic impact. P33 facilitated landmark DARPA and PsiQuantum partnership.
• SDI PresencecoreStrategic or Co-development Partner · 1 January 2024Technology services partner for Xchange Chicago, an onshore IT delivery center built in partnership with Chicago's communities. Provides real-world IT needs and solutions.
• TechChicago CommonAppcoreStrategic or Co-development Partner · 1 January 2023Centralized platform for startup programming applications, investor outreach, and deal flow. Connects nationwide investors with Chicagoland founders to deliver efficient access to resources and capital opportunities.
• World Business ChicagocoreStrategic or Co-development Partner · 1 January 2023P33 and World Business Chicago co-power TechChicago Week, which has become the region's premiere tech event. Chicago Climate Tech Week and TechChicago Capital Summit also emerged as community cornerstones.
• IBMflagshipStrategic or Co-development Partner · 1 January 2023IBM is a key partner in the Illinois Quantum and Microelectronics Park and National Quantum Algorithm Center. IBM Gives Chicago's Quantum Campus a Boost With New Investment (December 2024).
• Chan Zuckerberg Biohub ChicagoflagshipStrategic or Co-development Partner · 1 January 2023First Chan Zuckerberg Biohub in Chicago brings together three of Illinois' leading scientific and technology institutions with goal of understanding and treating inflammatory states underlying many diseases.
• CatalytecoreStrategic or Co-development Partner · 1 January 2023Training partner for Xchange Chicago, providing IT training to local Chicago residents alongside City Colleges of Chicago and others.
• City Colleges of ChicagocoreStrategic or Co-development Partner · 1 January 2023Educational partner for Xchange Chicago, providing training pathways to local residents with direct connection to apprenticeships and tech jobs.
• Good Jobs Challenge Grant RecipientscoreStrategic or Co-development Partner · 1 January 2022Chicago received one of 32 Good Jobs Challenge Grants from U.S. EDA ($18.5M for workforce training in healthcare, IT, and manufacturing). P33 allocated $3M to develop tech talent through this grant program.

Scale indicators16 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• gener8tor: Midwest-based venture fund and accelerator operating investment programs and corporate partnership networks similar to P33's Velocity and TechRise, with comparable focus on diversifying access to capital for underestimated founders.
• MassChallenge: Global nonprofit accelerator supporting early-stage founders with mentorship, programming, and corporate connections — a mission-aligned peer to P33's TechRise and Speed Round in structure, scale, and nonprofit operating model.
• Chicago Quantum Exchange: University-led quantum information science and engineering collaboration that partners with P33 on the National Quantum Algorithm Center and EDA Tech Hub designation; the academic counterpart in the same quantum ecosystem P33 is commercializing.
• World Business Chicago: Public-private economic development organization co-powering TechChicago Week with P33 and focused on driving inclusive economic growth in Chicago; a sibling organization with overlapping mission in employer attraction, talent, and ecosystem convening.
• 1871: Chicago-based nonprofit tech hub and incubator founded in 2012, providing workspace, programming, and community for early-stage startups — the most direct local counterpart to P33's TechRise and Speed Round programs in the same geography.

Regional players

• Innovation Works: Pittsburgh-based nonprofit that combines seed-stage venture investing, startup programs, and ecosystem building around robotics and AI; a peer in mission and structure to P33, focused on a different regional tech cluster.
• JumpStart Inc. Cleveland-based nonprofit venture development organization combining entrepreneur support, venture capital, and community development — a Midwest peer operating a similar blended accelerator + economic development model.

Broad incumbents

• NYCEDC (New York City Economic Development Corporation): City-backed nonprofit that drives inclusive economic development, workforce programs, and industry growth in NYC; a much larger institutional peer to P33's public-private convening and federal funding role, illustrating the scaled end of the same model.
• Techstars: Global, for-profit accelerator network that has scaled startup support and investor networks across dozens of verticals; comparable in accelerator/ecosystem-building function, but with a much larger commercial footprint than P33's regional nonprofit model.

Emerging players

• 1517 Fund: Hybrid venture fund and alt-pathway talent program that combines grants and founder support with venture capital — a comparable blended model to P33's TechRise-plus-Velocity approach, though smaller and with a different target segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/p33chicago
• YouTubeyoutube.com/@P33Chicago
• LinkedInlinkedin.com/company/p33-chicago

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about P33