What is InnovateNow?

InnovateNow is a joint initiative of the Chicagoland Chamber of Commerce, World Business Chicago and the Illinois Department of Commerce and Economic Opportunity to drive economic growth by promoting business innovation in key sectors of the economy. Business innovation is the development and implementation of new ideas and new ways of doing things (business models, products and services, markets, processes) to create customer value and drive business growth.

The goal is to make the Chicagoland region, and eventually the entire state of Illinois, a globally recognized center of innovation. InnovateNow is being guided by a public-private leadership team of business, labor, education, government and civic leaders.

InnovateNow was launched on October 24, 2006 at the Chicagoland Innovation Summit with an initial $1 million in state funding and additional corporate funding. The summit was held in cooperation with the Council on Competitiveness and featured national experts and over 500 business, education, and government leaders.

What are the major priorities?

Illinois already has undertaken major initiatives to promote innovation by supporting business entrepreneurship through the Illinois Entrepreneurship Network and by targeting major investments in key sectors such as homeland security, energy, and biosciences.

InnovateNow will build on these efforts to: 

Expand the Innovation Capacity of Illinois Businesses — Assist Illinois businesses in improving their capacity to develop new business models, products/services, and markets, especially small and mid-sized businesses in key sectors such as manufacturing that are facing global competition.

Strengthen Public-Private Innovation Networks — Promote stronger linkages and partnerships between Illinois businesses and universities, colleges, and federal laboratories to drive and support innovation in Illinois.

Expand the Innovation Talent Pool — Develop a new breed of innovation talent in Illinois that can start new businesses and drive innovation in existing businesses in Illinois. Innovate Now will promote the development of innovation talent at all education levels (P-20 pipeline) with stronger foundations in business as well as science, technology, engineering mathematics (STEM) and related creative and design fields.