A one-of-its-kind startup incubator!

Most startups need access to capital and guidance at the initial stage. Lemont-based Argonne National Lab launches a new incubator known as Chain Reaction Innovations (CRI) for tech-startups. CRI aims to narrow the gap for startups between the lab and marketplace. It is a home for entrepreneurial researchers. The Department of Energy is funding the incubator, according to Andreas Roelofs, an Argonne physicist who will become the incubator’s director.

These science-focused startups need access to the lab equipment and mentorship, which will be provided by Argonne’s team of 1400 scientists and  engineers. For these startups, investing on lab equipment at such an initial stage is a hesitation. In the first cohort, CRI will accept five companies with a budget of $4 million (as an additional funding) for cover time in the lab, use of equipment and mentorship and living expenses. A small fraction of the budget will be spent on program management.

Takeaways:

• Lemont-based Argonne National Lab launches a new incubator known as Chain Reaction Innovations (CRI) for tech-startups.
• CRI aims to narrow the gap for startups between the lab and marketplace. It is a home for entrepreneurial researchers.
• The Department of Energy is funding the incubator.