Chicago Innovation

What Chicago Innovation does

Chicago Innovation operates as The Chicago Innovation Foundation, a 501c3 non-profit that runs the largest year-round series of events and programs celebrating, educating, and connecting innovators across the Chicago metropolitan area, Northern Illinois, Southern Wisconsin, and Northwest Indiana. Founded by Tom Kuczmarski around 2000 with the flagship Chicago Innovation Awards launching in 2002, the organization delivers a portfolio of programs including the Chicago Innovation Awards (annual recognition with national Nasdaq bell-ceremony exposure), Chicago Innovation Fellows (a 6-month executive education offering co-developed with Northwestern Kellogg's Center for Research in Technology and Innovation), the Women's Mentoring Co-Op (launched 2015), Ageless Innovators (launched 2018 with The Village Chicago), The Ladder (launched 2022 with i.c.stars for Black and Latine innovators), Climate Innovators, the Illinois Student Invention Convention (K-8), the Inside The Spark talk show hosted by CEO Luke Tanen, and the Chicago OnInnovation virtual learning hub. Since 2002, the Awards have recognized 442 winners, with 98% still in business, $159B in cumulative exit value across 77 acquired winners, and $4.3B in post-award investment into winners. The organization is supported by a 40+ member Board of Advisors and an ~24 member Associates Board, and engages 10,000+ attendees annually across in-person and virtual events.

The revenue model blends five streams: $450/year individual memberships, multi-tier corporate sponsorships (Diamond, Gold, Silver, Bronze) with disclosed partners including Molex, Comcast Business, CME Group Foundation, JPMorgan, Accenture, Wintrust, Vedder Price, and DePaul University; program participation fees ($350 for Women's Mentoring Co-Op and The Ladder, $200 for Ageless Innovators); event ticket revenue (members receive tickets, non-members can purchase); and 501c3-eligible donations and fundraising through the Chicago Innovation Foundation, including monthly giving and legacy gift programs. Distribution is regional and event-driven, anchored by a monthly in-person and virtual event cadence (The In-Gala in August, Nominee Celebration in September, Practical Innovator and Complete Innovator in October, Awards ceremony in November, Climate Innovation Summit in June, Celebrating Women in Innovation in July), supplemented by content channels including the Inside The Spark talk show, the Chicago OnInnovation video library, and earned media coverage in the Chicago Tribune, Crain's Chicago Business, CNN, NBC, ABC, and Forbes.

The core team of 15-20 (President & CEO Luke Tanen, VP Finance & Operations Rosalyn King, VP Marketing & Events Paul Kitti, Director of Mentoring and Inclusion Programs Laura Jordan LeClair, Director of the Illinois Student Invention Convention Molly Seedhouse, and supporting staff) operates from a single headquarters at 2001 N Halsted St #201 in Chicago's Lincoln Park neighborhood, with no disclosed subsidiaries, no equity ownership, and no venture or private equity capital structure. Financial details including revenue, funding totals, and burn rate are not publicly disclosed, and the organization does not maintain a public API, mobile application, or AI/ML product surface.

Name

Chicago Innovation

Legal name

The Chicago Innovation Foundation

Website

https://chicagoinnovation.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

Chicago Innovation is a 501c3 non-profit that runs the largest year-round innovation event series in the Chicago region, offering the Chicago Innovation Awards, executive education through Northwestern Kellogg's Fellows program, and mentoring programs for women, Black/Latine innovators, and multi-generational participants.

Ownership category

akta.pro rank

Product category

Innovation Awards & Ecosystem Programs

NAICS

Educational Services (611), Professional and Management Development Training (611430), Professional and Management Development Training (61143), Technical and Trade Schools (61151)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Innovation & Design Thinking Programs (EDAMAHAD)

akta.pro secondary industries

Technology & Innovation Expos Organizers (THAHABAE), Research & Science Fair Competitions (Science Fairs, Research Symposiums) (EDAMAGAL)

Keywords

• Innovation awards program
• Innovation ecosystem development
• Executive mentoring programs
• Innovation education events
• Corporate sponsorship programs

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Others

Revenue model

1. Membership fees: Individual memberships sold at $450 per year on a 12-month cycle, providing access to events, networking, and member-only benefits
2. Corporate sponsorships: Companies become year-round sponsors at various levels (Diamond, Gold, Silver, Bronze) or sponsor specific programs. Sponsors receive recognition, access to community, and unique marketing opportunities.
3. Program participation fees: Mentoring programs charge participation fees: $350 for Women's Mentoring Co-op and The Ladder, $200 for Ageless Innovators. Fellowship program costs are not publicly disclosed.
4. Event revenue: Revenue generated from event ticket sales. Members receive tickets to events, and non-members can purchase tickets for most events.
5. Donations and fundraising: The Chicago Innovation Foundation is a 501c3 non-profit that accepts donations to support programs and initiatives. Monthly giving and legacy gift programs are available.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels9 records

Core offering

Chicago Innovation runs a year-round series of events, awards, and educational programs designed to educate, connect, and celebrate innovators across the Chicago region. Core offerings include the annual Chicago Innovation Awards (recognizing new products, services, and organizations), the Chicago Innovation Fellows executive education program (6-month partnership with Northwestern Kellogg's CRTI), demographic-specific mentoring programs (Women's Mentoring Co-Op, The Ladder for Black and Latine innovators, Ageless Innovators for intergenerational mentoring, Climate Innovators), the Illinois Student Invention Convention for K-8 students, the Inside The Spark talk show, and the Chicago OnInnovation video learning library, supported by an annual individual membership ($450/year) and tiered corporate sponsorship program.

Product overview

Chicago Innovation operates a year-round series of events and programs to educate, connect, and celebrate innovators across the Chicago region. The organization offers multiple distinct programs including the flagship Chicago Innovation Awards (the largest annual celebration of new products and services in the Midwest), the Chicago Innovation Fellows program (a 6-month executive education partnership with Northwestern Kellogg), and several mentoring programs including Women's Mentoring Co-Op, Ageless Innovators (intergenerational), The Ladder (for Black and Latine innovators), and Climate Innovators. Additional offerings include the Inside The Spark talk show, the Chicago OnInnovation video learning library, and an annual membership program providing event access and networking benefits.

Differentiator

Problem solved

Functional benefit

Brands

• Chicago Innovation Awards: The largest annual celebration of new products, services and organizations across industries and sectors in the Midwest.
• Chicago Innovation Fellows
• Women's Mentoring Co-Op
• Ageless Innovators
• The Ladder
• Climate Innovators
• Associates Board
• Chicago On Innovation
• Inside The Spark

Products and services

• Chicago Innovation Awards The largest annual celebration of new products, services, and organizations across industries and sectors in the Midwest, recognizing innovative companies in the greater Chicago region through nominations and an awards ceremony; eligible organizations must have introduced their product/service within the past 4 years and be headquartered in the greater Chicago region.
• Chicago Innovation Fellows A 6-month practical innovation-focused leadership program powered by Northwestern Kellogg's Center for Research in Technology and Innovation, designed to cultivate world-class innovation leaders and connect executives to the Chicago Innovation ecosystem; Fellows receive certificates from both Kellogg and Chicago Innovation upon completion.
• Women's Mentoring Co-Op A 1:1 mentorship program for women innovators at all career stages, providing meaningful mentorship, a strong community network, free tickets to 9 events, private lunch-and-learns, cocktail receptions, and access to a LinkedIn group; operates as a 6-month cohort (two per year) at $350 per cohort with need-based scholarships available.
• Ageless Innovators An intergenerational co-mentoring experience in partnership with The Village Chicago, designed to spark connections, expand perspectives, and fuel new ways of thinking between innovators across ages and industries; 6-month cohort at $200 per cohort, with The Village Chicago membership ($540 value) included.
• The Ladder A mentorship and career acceleration program for Black and Latine innovators, providing 1:1 mentorship, community, and resources to help participants advance their careers; operates as a 6-month cohort at $350 per cohort.
• Climate Innovators A program convening climate innovators and inspiring change through events, the Climate Champion Award, and public awareness campaigns to elevate climate change issues and promote solutions across the Chicago region.
• Annual Membership Program An annual individual membership at $450 per year on a rolling 12-month cycle that includes tickets to year-round events, access to the member directory, guaranteed tickets to sold-out events, exclusive events with board members and sponsors, VIP check-in, and members-only recognition.

Quantifiable outcome

• 98% of 442 past award winners are still in business
• +3 more outcomes

Named customers1 record

Segments8 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and major.

• The Chicago NetworkcoreStrategic or Co-development Partner · 1 January 2025Partnership with The Chicago Network and RRF Foundation for Aging to launch the Women Reinventors Program, welcoming women over 55 to build meaningful connections and continue thriving in their careers.
• Northwestern Kellogg School of Management (CRTI)coreStrategic or Co-development Partner · 1 October 2024Chicago Innovation Fellows Program is a 6-month practical innovation-focused leadership program powered by Northwestern Kellogg's Center for Research in Technology and Innovation (CRTI). Top Kellogg faculty teach courses on Growth Through Focus, IP for Competitive Advantage, Creative Innovation, High-Risk Decision Making, Culture and Values, Social Impact, Leverage AI, and Leadership. Fellows receive certificates from both Kellogg and Chicago Innovation upon completion.
• World Business ChicagomajorStrategic or Co-development Partner · 1 January 2023Clean Tech Pitch Competition co-hosted with World Business Chicago, promoting climate innovation and connecting startups with the broader business community.
• i.c.starscoreStrategic or Co-development Partner · 1 January 2022The Ladder program launched in 2022 in partnership with i.c.stars, providing 1:1 mentorship, community, and career acceleration to Black and Latine innovators. i.c.stars contributes expertise in workforce development and innovation training for underserved communities.
• The Village ChicagocoreStrategic or Co-development Partner · 1 January 2018Ageless Innovators program launched in 2018 in partnership with The Village Chicago, providing intergenerational co-mentoring experience designed to spark connections across ages and industries. The Village Chicago membership (valued at $540) is included with program participation.

Scale indicators13 records

Recent moves4 records

Expansion highlights6 records

Direct peers

• 1871: Chicago's flagship technology hub and startup incubator, founded in 2012 and housed in the Merchandise Mart. Directly comparable as a Chicago-headquartered organization building the local innovation community through events, programming, and corporate partnerships.
• World Business Chicago: Chicago's public-private economic development partnership driving inclusive economic growth across the city, including the Clean Tech Pitch Competition that Chicago Innovation co-hosts. Comparable as a Chicago innovation-ecosystem convener operating at the intersection of civic, corporate, and startup communities.
• gener8tor: Chicago-based accelerator that invests in early-stage startups across multiple geographies. Comparable as a Chicago-anchored innovation ecosystem organization running cohort-based programs, though with a venture-investment model rather than a non-profit awards model.
• MassChallenge: Global non-profit accelerator running cohort-based programs for startups across multiple industries and geographies. Directly comparable as a non-profit, cohort- and community-driven innovation organization with awards-style recognition programs.
• 1776: Regional innovation hub originally founded in Washington, D.C., convening startups, corporates, and policymakers through events, mentorship, and partnerships. Comparable as a non-profit-style, community-driven innovation ecosystem organization with strong events and partnership DNA.
• Startup Grind: Global startup community operating a year-round event series, online content, and chapter-based programming for entrepreneurs. Comparable as an event-driven, community-building organization targeting innovators and founders, with a similar reliance on sponsorships and chapter/membership revenue.
• Built In Chicago: Chicago-focused digital media and events company covering the local tech and startup ecosystem, including awards programs (Built In Chicago's 'Moxie Awards' and others). Comparable as a Chicago-specific innovation ecosystem organization using content, events, and recognition to convene the community.
• Village Capital: Global non-profit supporting early-stage entrepreneurs through cohort-based programs and a peer-selection investment model. Comparable as a non-profit innovation organization running demographic- and sector-specific cohorts with partner support.
• Springboard Enterprises: Non-profit accelerator focused on scaling women-led ventures through curated cohort programs, mentorship, and investor connections. Directly comparable as a non-profit, cohort-based innovation organization with demographic-specific mentoring DNA similar to Chicago Innovation's Women's Mentoring Co-Op.

Broad incumbents

• Techstars: One of the largest global startup accelerators, operating numerous industry- and geography-specific programs. Comparable as a broad incumbent in the innovation ecosystem space, though it operates a venture-backed accelerator model rather than an awards/recognition model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/playlist?list=PLIiMnHwaCdw8
• Facebookfacebook.com/chi.innovation
• LinkedInlinkedin.com/company/chicago-innovation
• Instagraminstagram.com/chicago_innovation
• TikToktiktok.com/@chicago_innovation
• Xx.com/Chi_Innovation

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

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 Chicago Innovation