IMSI - Institute for Mathematical and Statistical Innovation

What IMSI - Institute for Mathematical and Statistical Innovation does

IMSI (Institute for Mathematical and Statistical Innovation) is a nonprofit mathematical sciences research institute founded in 2020 and hosted at the University of Chicago, with operations at 1155 East 60th Street in Chicago, Illinois. The institute is managed by a consortium of four research universities — University of Chicago (host), Northwestern University, University of Illinois at Chicago, and University of Illinois at Urbana-Champaign — and is governed by a Board of Advisors and Scientific Committee with approximately 10-15 staff members led by Director Kevin Corlette, Associate Director Hongmei Jiang, Executive Director Philip W. Hammer, and Scientific Adviser Takis Souganidis. It is one of seven National Science Foundation-designated Mathematical Sciences Research Institutes and operates under NSF grant DMS-2425650 (August 2025–July 2030), following its initial grant DMS-1929348 (August 2020–July 2026).

The institute's core product is structured academic programming organized around five research themes: Data & Information, Health Care & Medicine, Materials Science, Quantum Computing & Information, and Uncertainty Quantification. Offerings include Long Programs (three-month intensive research programs with embedded workshops), standalone Workshops (up to one week), Interdisciplinary Research Clusters (short concentrated collaborations of nine business days or less), and Research Collaboration Workshops (week-long small-team collaborations). Supporting programs include the GROW conference for undergraduates considering graduate study, a Summer Internship Program for PhD students hosted at corporate and lab partners, and the "Carry the Two" podcast. Programming is delivered through in-person events at Chicago and via virtual/hybrid formats.

IMSI does not generate commercial revenue. Its business model is entirely grant-funded: the National Science Foundation, through the Division of Mathematical Sciences Mathematical Sciences Research Institutes program, provides a recurring five-year grant covering institute operations. All programs and services are provided at no cost to participants, with travel and stipends often covered by the institute. The go-to-market motion is event-driven: programs are publicized through the IMSI website, newsletter, social media, podcast, and academic networks, and participants apply through the IMSI website. Customer segments are academic — PhD students, postdocs, faculty, and researchers in mathematics, statistics, and adjacent scientific fields.

Name

IMSI - Institute for Mathematical and Statistical Innovation

Legal name

Institute for Mathematical and Statistical Innovation

Website

https://imsi.institute

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

IMSI is a nonprofit, NSF-funded mathematical sciences research institute hosted at the University of Chicago and managed by four Midwestern universities. It convenes academic researchers and students through Long Programs, Workshops, internships, and conferences organized around five research themes.

Ownership category

akta.pro rank

Product category

Academic Research Services

NAICS

Educational Services (611), Colleges, Universities, and Professional Schools (61131), Research and Development in the Social Sciences and Humanities (541720)

SIC

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

akta.pro primary industry

Institutes of Technology (IoT / Technical Universities) (EDAHAEAC)

akta.pro secondary industries

Competition Coaching & Training Programs (AMC/AIME/USAMO/MathCounts) (EDAMAEAA), Assessment-Integrated eLearning & Practice Modules (EDAGAEAE)

Keywords

• Mathematical research institute
• Statistical research programs
• Interdisciplinary research collaboration
• Academic research workshops
• PhD internship programs

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

Revenue model

1. NSF Core Funding: Primary funding from National Science Foundation Division of Mathematical Sciences through Mathematical Sciences Research Institutes program. Five-year grant DMS-2425650 (August 1, 2025 - July 31, 2030) for current period. Previous five-year grant DMS-1929348 (August 1, 2020 - July 31, 2026).

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

IMSI is a National Science Foundation-funded mathematical and statistical sciences research institute that organizes multi-month Long Programs, week-long Workshops, Interdisciplinary Research Clusters, Research Collaboration Workshops, an annual GROW undergraduate conference, and a Summer Internship Program for PhD students. Its activities are structured around five research themes (Data & Information, Health Care & Medicine, Materials Science, Quantum Computing & Information, and Uncertainty Quantification), and participants attend at no direct cost with travel and stipend support provided.

Product overview

IMSI is a mathematical sciences research institute that offers a portfolio of collaborative research programs rather than a traditional software product. The core offerings include Long Programs (multi-month research programs with embedded workshops), standalone Workshops, Interdisciplinary Research Clusters (short intensive collaboration sessions), and Research Collaboration Workshops. Supporting programs include the GROW conference for undergraduate students, the Summer Internship Program for Ph.D. students, the Carry the Two podcast, and a videos archive of past events. These programs are organized around five research themes: Data & Information, Health Care & Medicine, Materials Science, Quantum Computing & Information, and Uncertainty Quantification.

Differentiator

Problem solved

Functional benefit

Brands

• Carry the Two: A curiosity-driven podcast that reveals the mathematical and statistical gears that turn the world, hosted by IMSI
• GROW

Products and services

• Long Programs

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• University of ChicagocoreStrategic or Co-development PartnerHost institution and one of four managing institutions. Provides physical location at 1155 E 60th Street, Chicago. Key partner for research collaboration.
• Northwestern UniversitycoreStrategic or Co-development PartnerOne of four managing institutions. Contributes faculty and research resources. Associate Director Hongmei Jiang is from Northwestern.
• University of Illinois at ChicagocoreStrategic or Co-development PartnerOne of four managing institutions. Contributes faculty and research resources. GROW Steering Committee includes representation.
• University of Illinois at Urbana-ChampaigncoreStrategic or Co-development PartnerOne of four managing institutions. Hosts the Summer Internship Program. Contributes faculty and research resources including GROW Steering Committee representation.
• Other NSF-Funded Math InstitutesminorStrategic or Co-development PartnerCollaboration with other NSF-funded math institutes including AIM, IAS, ICERM, IPAM, MSRI, and SAMSI through the Math Institutes website (mathinstitutes.org) for shared events and activities.
• AbbVie Innovation CenterminorOthersPrevious internship host for IMSI Summer Internship Program, providing placement opportunities for PhD students in mathematics/statistics.
• Wolfram ResearchminorOthersPrevious internship host for IMSI Summer Internship Program, providing placement opportunities for PhD students in mathematics/statistics.
• Ameren Innovation CenterminorOthersPrevious internship host for IMSI Summer Internship Program, providing placement opportunities for PhD students in mathematics/statistics.
• Caterpillar Data Innovation LabminorOthersPrevious internship host for IMSI Summer Internship Program, providing placement opportunities for PhD students in mathematics/statistics.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Institute for Advanced Study (IAS): Prestigious independent research institute in Princeton with a renowned School of Mathematics. Broader incumbent with much wider scope (theoretical physics, historical studies, social science) but directly comparable as a destination for visiting mathematicians and as a convener of mathematics research.

Direct peers

• Clay Mathematics Institute: Private nonprofit focused on mathematics research and the Millennium Prize Problems. Direct peer operating in the same niche of mathematical sciences research support, with overlapping visiting researcher programs and workshops.
• Statistical and Applied Mathematical Sciences Institute (SAMSI): NSF-funded institute focused on statistics and applied mathematics, operating research programs and workshops. Direct peer with overlapping themes in data science, uncertainty quantification, and statistics education.
• Mathematical Sciences Research Institute (MSRI / SLMath): NSF-funded Mathematical Sciences Research Institute (now SLMath) hosted at UC Berkeley. Direct peer in mission, federal funding structure, and program types (Long Programs, workshops, postdoctoral fellowships) serving overlapping communities of mathematicians and statisticians.
• American Institute of Mathematics (AIM): NSF-funded math research institute (one of the seven Math Sciences Research Institutes) running workshops and SQuaREs (Small Quantitative Research Experiences). Direct peer focused on advancing mathematical sciences through structured collaboration.
• Institute for Pure and Applied Mathematics (IPAM): NSF-funded mathematical sciences institute at UCLA running Long Programs, workshops, and graduate summer schools. Direct peer in scope and funding model; serves overlapping research themes in applied mathematics, data science, and mathematical biology.
• Institute for Mathematics and its Applications (IMA): University of Minnesota-based institute running annual programs, workshops, and summer schools in applied mathematics. Direct peer in program structure, federal/industry funding mix, and target audience of applied mathematicians and statisticians.
• Institute for Computational and Experimental Research in Mathematics (ICERM): NSF-funded math institute at Brown University operating semester-long programs, workshops, and undergraduate initiatives. Direct peer with comparable program structure and overlapping faculty and participant pools.

Regional players

• Fields Institute: Canadian mathematical sciences research institute at the University of Toronto. Regional peer offering thematic programs and workshops across pure and applied math; comparable mission but operates primarily in Canada rather than the U.S.
• Banff International Research Station (BIRS): Joint Canadian-Mexican-USA mathematical sciences research station at the Banff Centre. Regional peer running 5-day workshops comparable to IMSI's standalone workshops; operates in Canada rather than the U.S. but serves overlapping research communities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/IMSI_Institute
• Facebookfacebook.com/IMSI.institute
• LinkedInlinkedin.com/company/institute-for-mathematical-and-statistical-innovation-imsi
• Instagraminstagram.com/imsi.institute

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about IMSI - Institute for Mathematical and Statistical Innovation