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🧪 Chicago's Scientific Surge

🧪 Chicago's Scientific Surge

AND Register for Chicago Tech Events

Landon Campbell
April 01, 2024

52nd Edition

Welcome to the 52nd issue of the Driver’s Seat newsletter! One full year. 🚙

📍 This Week’s Lineup:

⏪ Highlights From Last Week

🧪 Chicago's Scientific Surge

📊 Chart of the Week

📆 Events Around the City

🔙 Previous Editions of the Driver’s Seat

⏪ Highlights From Last Week

I had a great time visiting University of Chicago for the TechCon Conference, where I spoke about my perspective on the early-stage market 👇🏽

We welcomed six students from Ohio State University to our office for a tour 👇🏽

🧪 Chicago's Scientific Surge

Chicago is at the forefront of a transformative era in life sciences and biotech. Let’s take a look at new lab facilities and infrastructure that’s driving this future:

Catalysts for Growth

Our three major universities are advancing Chicago’s life science workforce, specifically by jointly participating in the $250m Chan Zuckerberg Initiative focused on enhancing research in disease prevention.
Research parks and groups like MATTER, Chicago Technology Park, University Technology Park at IIT, and Evanston Research Park are providing resources and community to biotech startups.
We already have major players in the biotech and life sciences sector like Abbott and AbbVie, along with successful startups such as Nanosphere and Ohmx.

New Lab Space and Infrastructure

The vacancy rate for lab space in Chicago stands at 18.3%, presenting an opportunity for life sciences startups to establish or expand their operations.
A 35% rise in lab construction nationwide is expected in 2024, with much of Chicago's new space already claimed.
Trammell Crow Company's development of Hyde Park Labs points to new investment in lab infrastructure going into the city.

📊 Chart of the Week

Chicago is the leading city in the US for Fortune 500 companies established by immigrants or their descendants.

Regarding states, when adjusted for population, Illinois is also at the top, along with Delaware, Connecticut, New York, and Virginia.

This data illustrates the important role of entrepreneurs from diverse backgrounds in driving economic growth and innovation, especially in the Midwest.

🗺️ Events Around The City

Excited for TechChicago Week 2024. Each year gets bigger and better.
Side events 10x the experience. We hosted 3 at our office last year including an all day AI Hackathon. Can’t wait to share what we’re hosting at @drivecapital this time around 🤫 🚙
— Landon (@landon20s)
7:08 PM • Mar 29, 2024