What ICNC does

ICNC (Industrial Council of Nearwest Chicago) is a 501(c)(3) nonprofit economic development organization founded in 1967 in Chicago. The organization is one of the oldest and largest business incubators in the United States and operates two flagship physical incubators. Make City is a 416,000+ square-foot manufacturing incubator spanning historic Near West Side buildings dating to the 1890s, home to approximately 100 light-manufacturing tenants in apparel, beauty, personal care, textiles, and creative services. The Hatchery is a $34 million purpose-built food and beverage incubator in Garfield Park, developed jointly with Allies for Community Business and opened in 2018, offering 54 private commercial kitchens and 5 shared kitchen spaces serving more than 140 food and beverage businesses, with 25 new companies admitted per year. Both facilities feature freight elevators, loading docks, and security infrastructure suited to manufacturing and culinary operations.

The organization generates revenue through commercial kitchen and manufacturing-space rental, event-space rentals priced at $50 to $400 per hour across Make City and The Hatchery, a $25 non-refundable application fee for the 6-month Incubation Cohort program, and donations and grants ($6.4M+ secured in 2022-2024). Distribution is direct-to-customer through inquiry forms on the ICNC website; lead generation is community-led and referral-driven via partnerships with Allies for Community Business, Ingredion, Griffith Foods, Chef Rick Bayless, and a network of 17+ Chicagoland restaurants supporting internships. ICNC layered the IMPACT Culinary Training program (designed with Chef Rick Bayless) onto The Hatchery in 2019, providing an 8-week course plus 4-week paid internship for Chicago young adults aged 18-24, with an 85% full-time employment rate reported for graduates.

ICNC operates a hybrid segmentation approach across four customer groups: food and beverage entrepreneurs (primary at The Hatchery), manufacturing startups and small businesses (primary at Make City), young adults seeking culinary careers (IMPACT program), and corporate partners seeking impact-investment exposure. The organization cites quantifiable outcomes of 1,223 businesses supported, 379 jobs created, 56 businesses incubated, 4,360+ mentorship hours delivered, and 300+ programs and events hosted over the 2020-2024 period. ICNC also conducts advocacy for the Kinzie Industrial Corridor Planned Manufacturing District status, protecting industrial land use, and advises tenants on Empowerment Zone and Work Opportunity Tax Credit programs. The organization merged with its subsidiary KIDC between 2020 and 2023 to consolidate operations under a single 501(c)(3) entity.

Name

ICNC

Legal name

Industrial Council of Nearwest Chicago

Website

https://industrialcouncil.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

11–50 employees

Short description

ICNC (Industrial Council of Nearwest Chicago) is a 501(c)(3) nonprofit founded in 1967 that operates two Chicago business incubators — Make City for manufacturing and The Hatchery for culinary — providing affordable workspace, mentorship, and workforce training to small-business entrepreneurs and young adults.

Ownership category

akta.pro rank

Product category

Business Incubation Services

akta.pro primary industry

Corporate Venture Studios & Incubators (Build/launch ventures) (FSANAHAC)

akta.pro secondary industry

Youth Business Incubators & Accelerators (EDAMAHAC)

Keywords

• Business incubation services
• Commercial kitchen rental
• Manufacturing workspace leasing
• Workforce training programs
• Small business mentorship

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Kitchen and Manufacturing Space Rental: ICNC generates revenue by leasing commercial kitchen space (The Hatchery) and manufacturing workspace (Make City) to food entrepreneurs and small manufacturers. Spaces are available in various sizes and configurations.
2. Incubation Cohort Program Fees: The Hatchery Incubation Cohort charges a $25 non-refundable application fee for its 6-month program supporting early-stage food entrepreneurs.
3. Event Space Rental: ICNC rents out event spaces at both Make City and The Hatchery locations for corporate events, networking, product launches, and community events at hourly rates.
4. Donations and Grant Funding: As a 501(c)(3) nonprofit, ICNC relies on donations, corporate sponsorships, and grant funding to support operations and programs. Funding secured over $6.4M+ in 2022-2024.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

ICNC operates business incubators that lease affordable commercial kitchen and manufacturing space to early-stage food entrepreneurs and small manufacturers in Chicago. It pairs physical workspace with mentorship, business coaching, access to loan capital, and workforce training programs designed to help participants launch and scale their businesses.

Product overview

ICNC (Industrial Council of Nearwest Chicago) operates as a business incubator and economic development organization offering two flagship incubator programs—Make City (manufacturing) and The Hatchery (culinary)—alongside supporting programs including the Incubation Cohort, IMPACT Culinary Training, Event Space rentals, and Advocacy Services. The organization provides physical workspace, mentorship, business development support, and workforce training to entrepreneurs across Chicago's Near West Side.

Differentiator

Problem solved

Functional benefit

Brands

• Make City: ICNC's modern manufacturing incubator offering 416,000 square feet of affordable industrial space for over 100 businesses in light industrial sectors including food and beverage, personal care, textiles, and creative services.
• The Hatchery
• IMPACT Culinary Training

Products and services

• Make City ICNC's flagship modern manufacturing incubator spanning 416,000+ square feet of affordable, customizable industrial space (400-10,000 sq. ft. units) in Chicago's Near West Side, with freight elevators, loading docks, electronic key entry, and security cameras. Houses nearly 100 businesses in apparel, beauty, personal care, textiles, and creative services, providing coaching, workshops, and networking on top of physical space.
• The Hatchery ICNC's nonprofit food and beverage incubator in Garfield Park offering 54 private commercial kitchens and 5 shared kitchen spaces, coworking areas, expert mentorship, workshops, and access to loan capital through joint venture partner Allies for Community Business. Supports over 140 food and beverage businesses including catering, bakeries, CPG brands, meal delivery, food trucks, and ghost kitchens.
• Incubation Cohort A six-month holistic program developed by The Hatchery Chicago using Lean Startup methodologies to help food entrepreneurs transform their business from idea to reality, including business planning, licensing, branding, and market launch support. Applications are submitted with a $25 non-refundable application fee.
• IMPACT Culinary Training Workforce training program designed for Chicago adults ages 18-24, featuring an 8-week intensive classroom course followed by a 4-week paid internship at Chicagoland restaurants. Operated in partnership with Chef Rick Bayless and Allies for Community Business, with 150+ graduates and 85% full-time employment placement rate.
• Event Space Rental Modern, versatile event venues at Make City and The Hatchery for corporate events, team meetings, networking receptions, product launches, and professional seminars, accommodating up to 200 standing guests and 100-150 seated. Room types include small and large conference rooms, coworking spaces, and main event spaces with hourly pricing from $50 to $400.
• Advocacy Services Neighborhood planning and business advocacy including Kinzie Industrial Corridor Planned Manufacturing District advocacy, Local Industrial Retention Initiative (LIRI), and assistance accessing grants and tax credit programs including Empowerment Zone and Work Opportunity Tax Credits.

Quantifiable outcome

• 379 jobs created (2020-2024)
• +5 more outcomes

Named customers6 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

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Allies for Community Business (A4CB)coreStrategic or Co-development PartnerJoint venture partner with ICNC for The Hatchery incubator. Provides access to loan capital between $500 and $100,000 to qualifying Hatchery residents and members, as well as free on-site business coaching. Founded to address both high unemployment on Chicago's West Side and the hospitality industry's need for skilled kitchen staff.
• Chef Rick BaylesscoreStrategic or Co-development PartnerRenowned chef who designed the IMPACT Culinary Training program in partnership with ICNC. Program addresses unemployment among young adults on Chicago's West Side while creating skilled kitchen staff pipeline for the hospitality industry.
• IngredionminorStrategic or Co-development PartnerIndustry partner connected to The Hatchery ecosystem, supporting food and beverage entrepreneurs with ingredients and industry expertise.
• Griffith FoodsminorStrategic or Co-development PartnerIndustry partner in The Hatchery network, providing support and resources for emerging food entrepreneurs.
• IMPACT Restaurant Partners (Antique Taco, Sotano Bar, Big Jones, Cajun Cafe Chicago, Cafe Yaya, Chile Toreado, Frontera Grill, Galit, Justice of the Pies, Luella's Southern Kitchen, Lula Cafe, Mi Tocaya, The Publican, Publican Quality Meats, Topolobampo, Xoco, Virtue Restaurant and Bar)coreStrategic or Co-development PartnerNetwork of 17+ Chicagoland restaurants providing 4-week paid internships for IMPACT Culinary Training graduates. Restaurants run by James Beard Award-winning chefs and industry leaders. Helps young adults gain real-world kitchen experience and employment connections.
• Kinzie Industrial Development Corporation (KIDC)coreOthersCharitable 501(c)(3) subsidiary established by ICNC in 1984 to expand beyond advocacy into community development. Merged back into ICNC operations in 2020-2023 as ICNC transitioned to 501(c)(3) status.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Industrious: Premium flexible office and coworking operator with event space offerings targeting enterprise and SMB tenants. Comparable to ICNC's event-space and coworking revenue lines (event space $50-$400/hr, coworking $200/hr) but operates as a premium, for-profit national brand rather than a subsidized nonprofit.
• Plug and Play Tech Center: Global accelerator and innovation platform operating industry-specific programs across 50+ locations. Comparable as an established incubator operator with corporate partnerships and venture connections, though focused on tech/venture-backed startups rather than small manufacturing and food businesses.
• Techstars: Global accelerator network running 50+ programs annually with mentor-driven cohorts and corporate partnerships. Comparable as a large-scale incubator operator with structured programming, though focused on tech and venture-track startups rather than local small-business incubation.

Direct peers

• MassChallenge: Global nonprofit startup accelerator operating cohort-based programs with mentorship and partnerships across multiple cities. Comparable to ICNC's Incubation Cohort model and mission-driven, ecosystem-focused approach, though serving a broader industry mix at venture scale.
• 1871: Chicago's flagship nonprofit technology and business incubator, providing workspace, mentorship, and a community for startups. Operates in the same city with a comparable incubator model and target SMB/early-stage tenant base, making it ICNC's most analogous peer for Make City's small-business incubation role.
• Kitchen United: National commercial-kitchen-as-a-service operator renting private and shared kitchen space to food entrepreneurs and ghost-kitchen brands. Directly comparable to The Hatchery's commercial-kitchen offering, though for-profit and venture-backed rather than nonprofit-subsidized.
• Union Kitchen: Washington D.C.-based food business accelerator and commissary kitchen offering shared kitchens, storage, distribution, mentorship, and capital access to food entrepreneurs. Closely mirrors The Hatchery's integrated food-incubation model across kitchen rental, programming, and ecosystem support.
• Impact Hub: Global network of impact-focused incubators and coworking spaces operating in 50+ cities with a mission-driven, community-led model. Comparable to ICNC as a nonprofit, community-rooted incubator operator providing workspace and entrepreneurship programs, though broader in sector focus.
• CloudKitchens: Ghost-kitchen infrastructure operator (affiliated with Travis Kalanick) providing turnkey private kitchen facilities for delivery-only restaurant brands. Competes with The Hatchery for food entrepreneurs seeking low-overhead commercial kitchen access, scaled nationally with significant capital backing.

Others

• Allies for Community Business (A4CB): Chicago-based nonprofit community development financial institution (CDFI) providing loans ($500-$100,000) and coaching to underserved entrepreneurs. Listed as ICNC's joint-venture partner on The Hatchery and shares the same West Side mission-driven entrepreneur support model, making it an ecosystem partner more than a competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/impactculinary
• Xx.com/ICNCChicago
• Facebookfacebook.com/ICNCChicago

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 ICNC