Chicago Innovation Exchange awarded $275K

By LINDSAY WELBERS
Staff Writer

The Chicago Innovation Exchange, a business incubator housed inside Harper Court, awarded $275,000 to its inaugural class of students.

The CIE is the University of Chicago’s space for business and technological development. It currently occupies space on the 11th floor of Harper Court, but when fully operational will also occupy the second floors of the Harper Theater building and the former Herald building.

The CIE is supported financially by UChicago Tech, the university’s Center for Technology Development and Ventures and the Polsky Center for Entrepreneurship and Innovation.

A group of 16 students were awarded between $50,000 and $100,000 after showing their proof-of-concept work for projects focusing on science, technology, engineering or math (STEM) projects.

Students, in addition to funding, are given space inside the CIE to help build their business and support running and growing their business from experienced entrepreneurs.

The top award recipient, Quantitative Insights, was given $100,000 for their QuantX U.S. product launch. The product, QuantX, is a software platform that assists radiologists in making more accurate and efficient breast cancer diagnoses.

Simplified Chromatin Conformation Capture (S3C) was awarded $75,000 to further develop a tool for identifying distant genomic interactions key to normal biological function as well as diseases such as cancer, diabetes and autoimmune and inflammatory disorders into a kit available to researcher and drug developers.

An additional $55,000 was awarded to Companion Diagnostic for treatment of estrogen receptor negative breast cancer to help develop a tool that could accurately identify tumors in patients likely to benefit from a new targeted breast cancer treatment.

The final award of $50,000 went to adapt software developed by the university’s Flash Center for Computational Science for modeling complex extreme ultraviolet light sources needed for new semiconductor chips.

l.welbers@hpherald.com