MHUB Chicago (company)
mHUB is a business incubator for physical product development and manufacturing headquartered in Chicago.[1]
Facility
[edit]mHUB's facility is in the former Motorola Mobility (a Lenovo company) prototyping and testing lab.[2][3] Labs include: 3D Printer Lab, Cold Metals Lab, Electronics Lab, Finishing Lab, Hot Metals Lab, Laser Cutting Lab, Plastics Lab, Testing Lab, Textiles Lab, Water Work Lab, and Woodworking Lab.
Partners
[edit]mHUB's founding partner is Marmon, and its leading partners are: Arrow Electronics, Chamberlain Group, Chase, The U.S. Economic Development Administration, GE, Kirkland & Ellis, UL and World Business Chicago.[4]
Founding
[edit]Catalyze, a coworking hub, World Business Chicago, and Mayor Rahm Emanuel kickstarted mHUB in early 2017.[2] The non-profit 501(c)(3) organization opened on March 2, 2017, and was co-founded by Haven Allen, CEO, and Bill Fienup, Director of Innovation Services.[5][6] Mayor Rahm Emanuel called the project "the final piece of the manufacturing puzzle".[1][7]
mHUB Product Impact Fund I
[edit]mHUB's Product Impact Fund I is a $15M venture fund that will invest in 60 early-stage physical product and hardtech ventures with deployment from 2020 To 2023.[8] The Fund supports cohorts of the mHUB accelerator program and will make seed-stage investments of $75,000 cash and $56,750 in product development, resources and programming for 5% equity with pro rata rights.[9][10]
Relocation
[edit]mHUB relocated to a historic manufacturing facility and federally designated Opportunity Zone[11] in Chicago's Near West Side in the fall of 2023.[12]
References
[edit]- ^ a b "The Making of mHUB: A WBC Fellowship Story". World Business Chicago. 28 February 2017. Retrieved 2017-09-26.
- ^ a b Hustad, Karis (9 August 2016). "mHUB, a New Center for Manufacturing Innovation, to Open on Chicago's West Side". ChicagoInno. AmericanInno. Retrieved 2017-09-26.
- ^ Marotti, Ally (10 August 2016). "Chicago and Catalyze launch mHUB, a new home for upstart manufacturers". The Chicago Tribune. Retrieved 10 November 2017.
- ^ "Inside mHUB, Chicago's Newest Manufacturing Incubator - Illinois Science & Technology Coalition". Illinois Science & Technology Coalition. February 27, 2017. Retrieved 2017-09-26.
- ^ Graham, Meg (2 March 2017). "Sparks fly as new manufacturing innovation space mHUB opens". The Chicago Tribune. Retrieved 2017-09-26.
- ^ "40 Under 40 2018: Haven Allen and Bill Fienup - Crain's Chicago Business". www.chicagobusiness.com. Retrieved 2021-02-02.
- ^ "Newsviews: Business incubator mHUB". ABC 7 Chicago. American Broadcasting Company. 14 August 2016. Retrieved 10 November 2017.
- ^ "Chicago's mHUB raises $5 million to build an inclusive 'hardtech' ecosystem". Impact Alpha. 2020-11-12. Retrieved 2021-02-02.
- ^ "Sam Zell invests in manufacturing incubator's VC fund". Crain's Chicago Business. 2020-08-27. Retrieved 2021-02-02.
- ^ Jim, Dallke (2019-07-24). "mHUB Is Raising a $15M Fund to Back Hardware Startups". www.bizjournals.com. Retrieved 2021-02-02.
- ^ "Manufacturing innovation center mHub buys historic building". Chicago Tribune. 2023-04-27. Retrieved 2023-11-07.
- ^ Martorina, Anthony (2023-08-29). "mHUB expands with a new $50M innovation and commercialization center". Chicago Star Media. Retrieved 2023-11-07.